Advanced Search
MyIDEAS: Login to save this paper or follow this series

Czech Koruna and Polish Zloty


Author Info

  • Armando Méndez Morales
Registered author(s):


    Exchange rate flexibility has facilitated an impressively fast insertion of the Czech koruna and the Polish zloty into the global currency market. However, exchange rate volatility patterns differ: Lower volatility is observed for the koruna against the euro relative to the U.S. dollar, while the opposite is true for the zloty, apparently related to earlier financial integration of the Czech Republic with Europe and early dollarization in Poland as a result of initial higher inflation rates. By contrast, the currency options market shows enhanced information content of both currencies against the euro reflected in the behavior of their implied volatility.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL:
    Download Restriction: no

    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 01/120.

    as in new window
    Length: 30
    Date of creation: 01 Aug 2001
    Date of revision:
    Handle: RePEc:imf:imfwpa:01/120

    Contact details of provider:
    Postal: International Monetary Fund, Washington, DC USA
    Phone: (202) 623-7000
    Fax: (202) 623-4661
    Web page:
    More information through EDIRC

    Order Information:

    Related research

    Keywords: Exchange rates; Eastern Europe; exchange rate; foreign exchange; exchange rate volatility; bonds; bond; foreign exchange policy; exchange policy; flexible exchange rate; exchange rate band; foreign exchange market; hedge; exchange markets; derivative; foreign exchange markets; currency basket; exchange rate appreciation; exchange rate depreciation; exchange transactions; foreign exchange transactions; bond markets; bond market; hedging; eurobond; spot exchange rate; foreign exchange law; derivatives market; financial market; currency derivatives; exchange rate arrangement; exchange rate flexibility; dollar exchange rate; eurobonds; reserve requirements; financial institutions; exchange rate changes; domestic bond; currency risk; financial markets; bond prices; derivative instruments; domestic bond markets; currency swaps; denominated bonds; exchange options; bond issues; market bond; benchmark bonds; hedging decisions; parallel exchange rate; currency appreciation; fixed exchange rate; bond holders; derivative security; currency units; demand for bonds; foreign exchange reserves; exchange rate forecasting; financial instruments; bond price; bond issue; option markets; exchange reserves; coupon bonds; currency derivative; foreign investment; futures market; stock of debt; international bond; risk-free interest rate; stable exchange rate; present value; basket of currencies; domestic financial institutions; derivative transactions; exchange rate regimes; exchange rate pressures;


    No references listed on IDEAS
    You can help add them by filling out this form.


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Bednarik, Radek, 2008. "Analýza volatility devizových kurzů vybraných ekonomik
      [The Analysis of Volatility of Selected Countries' Exchange Rates]
      ," MPRA Paper 15046, University Library of Munich, Germany.


    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:01/120. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow) or (Hassan Zaidi).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.