Author: Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Exchange Rate Regimes & Macroeconomic Stability in Central & Eastern Europe
Author: Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe
Author: Paul De GrauweMonetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU
Author: Mr.Paul R. MassonPublisher: International Monetary Fund
ISBN: 1451972644
Category : Business & Economics
Languages : en
Pages : 26
Book Description
The more advanced Central and Eastern European Countries (CEECs) face an evolving set of considerations in choosing their exchange rate policies. On the one hand, capital mobility is increasing, and this imposes additional constraints on fixed exchange rate regimes, while trend real appreciation makes the combination of low inflation and exchange rate stability problematic. On the other hand, the objectives of EU and eventual EMU membership make attractive a peg to the euro at some stage in the transition. The paper discusses these conflicting considerations, and considers the feasibility of an alternative monetary framework, inflation targeting.
Essays on Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern European and Baltic Countries
Author: Xavier CireraExchange Rate Regimes and Macroeconomics Stability in Central and Eastern Europe
Author: Paul de GrauweEssays on Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern European and Baltic Countries
Author: Exchange Rate Regimes in Central, Eastern and Southeastern Europe
Author: Mr.Slavi T SlavovPublisher: International Monetary Fund
ISBN: 1475590962
Category : Business & Economics
Languages : en
Pages : 31
Book Description
There are 13 countries in Central, Eastern and Southeastern Europe (CESEE) with floating exchange rate regimes, de jure. This paper uses the framework pioneered by Frankel and Wei (1994) and extended in Frankel and Wei (2008) to show that most of them have been tracking either the euro or the US dollar in recent years. Eight countries, all of them current or aspiring EU members, track the euro. Of the five countries keying on the US dollar in various degrees, all but one belong to the Commonwealth of Independent States. The paper shows that the extent to which each country’s currency tracks the euro (or the dollar) is correlated with the structure of its external trade and finance. However, some countries appear to track the EUR or USD to an extent which appears inconsistent with inflation targeting, trade or financial integration, or the extent of business cycle synchronization. The phenomenon is particularly pronounced among the countries in the CESEE euro bloc, which may be deliberately gravitating around the euro in anticipation of eventually joining the Euro Area.
Currency and Competitiveness in Europe
Author: Klaus LiebscherPublisher: Edward Elgar Publishing
ISBN: 1848445091
Category : Business & Economics
Languages : en
Pages : 337
Book Description
Competitiveness is a notoriously slippery concept. This volume, featuring a galaxy of economic stars, lends some much-needed precision to the term and the debate over its determinants. Barry Eichengreen, University of California, Berkeley, US This book combines currency matters with competitiveness considerations, with a view to raising the understanding of exchange rate dynamics and to analysing the role of exchange rates in reinforcing economic competitiveness. The overall focus is on highlighting the link between currency developments and the real side of the economy. From a regional perspective, the contributions centre on developments in Central, Eastern and South-eastern Europe and thus put a special emphasis on aspects of transition and convergence. More specifically, the book addresses key issues of financial globalization and global imbalances; the role of macroeconomic fundamentals in exchange rate economics; the role, objectives and challenges of regional monetary unions; exchange rate dynamics in transition economies and the competitiveness of catching-up countries. It also addresses the structural aspects of competitiveness and the significance of qualitative and quantitative aspects of competitiveness. Offering the views of eminent academics and professionals, this book will be of great interest to economists and central bankers as well as to international organizations, universities and research institutes.
Exchange Rate Regimes and Macroeconomic Stability
Author: Lok Sang HoPublisher: Springer Science & Business Media
ISBN: 1461510414
Category : Business & Economics
Languages : en
Pages : 258
Book Description
The Asian crisis of 1997-1998 was a major influence on macroeconomic thinking concerning exchange rate regimes, the functioning of international institutions, such as the IMF and the World Bank, and international contagion of macroeconomic instability from one country to another. Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability. Overall, the chapters contained in this volume offer interesting perspectives, which have been stimulated by the recent events in the foreign exchange market. They provide a useful reference for anyone interested in the development of exchange rate regimes, and represent considerable reflection by economists half a century after Bretton Woods.
Exchange Rate Regimes Inflation and Macroeconomic Stability
Author: Altin IlirjaniPublisher:
ISBN:
Category : Cyprus, Northern
Languages : en
Pages : 82
Book Description