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Exchange-Rate Convergence and Entrance to the Eurozone III - Selected Problems of New Member States (in Czech)

Author

Listed:
  • Zdenìk Èech

    (Czech National Bank, Prague)

  • Roman Horváth

    (Czech National Bank, Prague)

  • Luboš Komárek

    (Czech National Bank, Prague)

Abstract

The paper contains a general analysis of the exchange rate convergence process of new European Union member states and candidate countries. Following an introduction, we discuss exchange rate strategies applied during periods of economic transition. Emphasis is given to a hypothetical evaluation of the exchange rate criterion. We review the exchange rate strategies of transition countries using an analytical framework similar to the EU member states, and discuss the selected strategies presented in the “Pre-accession Economic Programmes” and convergence programs. In light of the exchange rate experience of EU-15 countries, we summarize the main determinants of exchange rate movement in transition countries. Finally, we discuss factors which will influence ERM2 accession.

Suggested Citation

  • Zdenìk Èech & Roman Horváth & Luboš Komárek, 2005. "Exchange-Rate Convergence and Entrance to the Eurozone III - Selected Problems of New Member States (in Czech)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 55(9-10), pages 483-505, September.
  • Handle: RePEc:fau:fauart:v:55:y:2005:i:9-10:p:483-505
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    More about this item

    Keywords

    convergence; exchange rate; monetary policy; transition;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General

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