• Limits and pitfalls of QE in emerging markets (8.2020)
    Daniel Dăianu, Advisor to the NBR Governor
    This is an expanded English version of the article “QE in emerging economies: beware of traps”, which was published in Romanian by Opinii BNR, 1 July 2020. The views expressed do not necessarily represent the position of the institutions the author is affiliated with.

    application/pdf 398 KB, Descarcă
  • Romania’s Euro Area Accession: The Question is Under What Terms! (12.2017)
    Coord: Daniel Dăianu, Member of the NBR Board; Ella Kállai, Gabriela Mihailovici, Aura Socol
    This article has been published in the Romanian Journal of European Affairs, Vol. 17, No. 2, December 2017

    application/pdf 438 KB, Descarcă
  • Money Creation – And Yet Central Banks Run It! (6.2017)
    Daniel Dăianu, Member of the NBR Board
    The Great Recession has reignited the debate on “who creates money”, on the relationship between base money/outside money supplied by central banks and the inside money, which is created by commercial banks. It is in this context that the old controversy regarding the fractionalreserve banking system should be placed. This dispute should be linked with the equally old observation that the financial system is prone to crises, to instances of panic – to “runs”.

    application/pdf 238 KB, Descarcă
  • An Age of Ultra-low Interest Rates (8.2016)
    Daniel Dăianu, Member of the NBR Board

    application/pdf 705 KB, Descarcă
  • The Governance of the Eurozone: Do External Imbalances Matter? (5.2015)
    Daniel Dăianu, Member of the NBR Board

    application/pdf 2 MB, Descarcă
  • Analysis of CHF-denominated loans (2.2015)

    application/pdf 873 KB, Descarcă
  • Monetary Policies and Banking Institutions in South-Eastern Europe between National Objectives and European Patterns - a Historical and Comparative Perspective (5.2013)

    application/pdf 2 MB, Descarcă
  • Bank lending survey - November 2010 (11.2010)

    application/pdf 147 KB, Descarcă
  • Bank lending survey - November 2010, annexes (11.2010)

    application/vnd.ms-excel 74 KB, Descarcă
  • Bank lending survey - August 2010 (8.2010)

    application/pdf 196 KB, Descarcă
  • Bank lending survey - August 2010, annexes (8.2010)

    application/vnd.ms-excel 74 KB, Descarcă
  • Bank lending survey - May 2010 (5.2010)

    application/pdf 804 KB, Descarcă
  • Bank lending survey - May 2010, annexes (5.2010)

    application/vnd.ms-excel 74 KB, Descarcă
  • Bank lending survey - February 2010 (2.2010)

    application/pdf 766 KB, Descarcă
  • Bank lending survey - November 2009 (11.2009)

    application/pdf 205 KB, Descarcă
  • External deficit financing and macroeconomic adjustment during the financial crisis - the case of Romania (11.2009)
    Mugur Isărescu, NBR Governor
    Dissertation on the occasion of being admitted to the Real Acadèmia de Doctors in Barcelona, 24 November 2009

    application/pdf 336 KB, Descarcă
  • Operational risk in ReGIS - a sistemically important payment system (10.2009)
    Horaţiu Lovin, Andra Pineta

    application/pdf 320 KB, Descarcă
  • Redefining the Role of Central Banks in a World with Changing Paradigms - The Case of the National Bank of Romania (5.2009)
    Valentin Lazea
    Presentation at the Central & South East European Financial Forum, Bucharest, 19-22 May 2009

    application/pdf 323 KB, Descarcă
  • Foreign Exchange Regime in Romania between 1929-1939 (4.2007)
    Coord: George Virgil Stoenescu; Elisabeta Blejan, Brînduşa Costache, Adriana Iarovici

    application/pdf 205 KB, Descarcă
  • International Reserves of the National Bank of Romania 1920-1944 (12.2006)
    Coord: George Virgil Stoenescu; Elisabeta Blejan, Brînduşa Costache, Adriana Iarovici

    application/pdf 455 KB, Descarcă
  • Recent developments in non-government credit and bank deposits (12.2005)
    BNR

    application/pdf 752 KB, Descarcă