Risks And Challenges Of Monetary Strategy For Euro Adoption

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Risks And Challenges Of Monetary Strategy For Euro Adoption

Author Info

Oldřich DĚDEK

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Oldrich Dedek

Abstract

The paper evaluates some policy dilemmas the Czech monetary policy will face on the way towards adopting common currency. The assessment of the inflation criterion concentrates on the potential clash with so called real convergence showing that alleged negative influences on the catching-up process seem to be exaggerated. The reasons leading to some scepticism about the ERM-II arrangement are further explained with distinction placed on eligibility and regime selection motives when applying for the ERM-II membership. Finally, the pros and cons of inflation targeting are discussed from the perspective of promoting the fulfilment of Maastricht requirements. Attention is paid to the issue of optimal exit form inflation targeting having in mind the priority of entering Eurozone with a proper conversion rate.

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Article provided by University of Economics, Prague in its journal Politická ekonomie.

Volume (Year): 2006 (2006)
Issue (Month): 1 ()
Pages: 3-21
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Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:1:id:542:p:3-21

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Find related papers by JEL classification:
E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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This page was last updated on 2009-12-28.

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