The puzzle at the core of this study asks whether a currency board arrangement implemented in Romania can offer the solution to the country's inflation and macroeconomic problems. It seeks to investigate the specific causes of this inflation and to recommend an effective stabilization program. This dissertation (published by the Journal in five editions) focuses on the persistent inflation experienced by Romania in the past decade of transition. more More than a decade after its onset on the path of transition from communism, Romania continues to face problems of transparency in fiscal operations, difficulties in liquidity management, persistent inflation and currency devaluations, and a generally unstable economic environment. More than a decade after its onset on the path of transition from communism, Romania continues to.
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March 2023
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