Looking Forward Towards the ERM II Central Parity: The Case of Poland
AbstractThis paper addresses issues related to the choice of the central parity for Poland’s prospective ERM II membership. It discusses the relevance of different concepts of equilibrium exchange rate in the determination of the central parity and, on the basis of recent studies, it provides a tentative assessment of the equilibrium exchange rate of the Polish zloty. Risks resulting from a potential exchange rate misalignment are also analysed. Finally, in the context of the choice of the central parity, the paper gives insights into developments in the Polish labour market and factors behind the persistently high unemployment rate.
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Bibliographic InfoArticle provided by CEPII research center in its journal Economie Internationale.
Volume (Year): (2005)
Issue (Month): 102 ()
exchange rate; euro area; labor market; zloty; ERM II; Poland;
Find related papers by JEL classification:
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
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- Jakub Borowski & Michal Brzoza- Brzezina, 2004.
"Designing Poland’s Macroeconomic Strategy on the Way to the Euro Area,"
- Jakub Borowski & Michal Brzoza-Brzezina, 2004. "Designing Poland's Macroeconomic Strategy on the Way to the Euro Area," EUI-RSCAS Working Papers 10, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
- Jovanovic, Branimir, 2007. "Calculating the Fundamental Equilibrium Exchange Rate of the Macedonian Denar," MPRA Paper 43161, University Library of Munich, Germany.
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