Koruna Exchange Rate Turbulence in May 1997
AbstractThe study has been written by the team of the CNB experts in order to provide evidence about the exchange-rate turbulence of koruna in 1997. First, it provides analysis of the root causes of the exchange rate turbulence in May 1997. Secondly, it takes an in-depth look at the attempts to solve the problem of turbulence, from the CNB strategy in the first days, the escalation, up to and including the changes in the exchange rate regime and the rationale behind these changes. Finally, it concentrates on the eventual easing of the turbulence and the CNB's strategy aimed at interest rate landing.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0303020.
Length: 41 pages
Date of creation: 26 Mar 2003
Date of revision:
Note: Type of Document - ; pages: 41 . WP CNB-SM 1998 No 2.
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Web page: http://126.96.36.199
exchange rate crisis turbulence Czech koruna 1997;
Other versions of this item:
- Katerina Smidkova & Jiri Behounek & Tibor Hledik & Josef Jilek & Miroslav Kostel & Ivana Matalikova & Dana Rottova & Jana Stankova, 1998. "Koruna Exchange Rate Turbulence in May 1997," Archive of Monetary Policy Division Working Papers 1998/02, Czech National Bank.
- E - Macroeconomics and Monetary Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-04-02 (All new papers)
- NEP-CBA-2003-04-02 (Central Banking)
- NEP-HIS-2003-04-02 (Business, Economic & Financial History)
- NEP-IFN-2003-04-02 (International Finance)
- NEP-RMG-2003-04-02 (Risk Management)
- NEP-TRA-2003-04-02 (Transition Economics)
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- Kateřina Šmídková & Aleš Bulíř, 2005. "Would Fast Sailing Towards the Euro Be Smooth? What Fundamental Real Exchange Rates Tell Us," Prague Economic Papers, University of Economics, Prague, vol. 2005(4), pages 291-316.
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- Ray Barrell & Dawn Holland & Katerina Smidkova, 2003. "Estimates of Fundamental Real Echange Rates for the Five EU Pre- Accession Countries," Macroeconomics 0303016, EconWPA.
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- Juraj Antal & Michal Hlavacek & Tomas Holub, 2008. "Basic Characteristics of Inflation Targeting in the Czech Republic," Occasional Publications - Chapters in Edited Volumes, in: Katerina Smidkova (ed.), Evaluation of the Fulfilment of the CNB's Inflation Targets 1998-2007, chapter 2, pages 18-34 Czech National Bank, Research Department.
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