Koruna Exchange Rate Turbulence in May 1997

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Koruna Exchange Rate Turbulence in May 1997

Author Info

Katerina Smidkova (Czech National Bank)

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Katerina Smidkova

Abstract

The 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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Publisher Info
Paper provided by EconWPA in its series Macroeconomics with number 0303020.

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Length: 41 pages
Date of creation: 26 Mar 2003
Date of revision:
Handle: RePEc:wpa:wuwpma:0303020

Note: Type of Document - ; pages: 41 . WP CNB-SM 1998 No 2.
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Web page: http://129.3.20.41

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Find related papers by JEL classification:
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)

Cited by:
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Katerina Smidkova & Ray Barrell & Dawn Holland, 2002. "Estimates of Fundamental Real Exchange Rates for the Five EU Pre-Accession Countries," Working Papers 2002/03, Czech National Bank, Research Department. [Downloadable!]
Other versions:
- Ray Barrell & Dawn Holland & Katerina Smidkova, 2003. "Estimates of Fundamental Real Echange Rates for the Five EU Pre- Accession Countries," Macroeconomics 0303016, EconWPA. [Downloadable!]
- Kateřina Šmídková & Ray Barrell & Dawn Holland, 2003. "Estimates Of Fundamental Real Exchange Rates For The Five Eu Pre-Accession Countries," Prague Economic Papers, University of Economics, Prague, vol. 2003(4). [Downloadable!] (restricted)
Kateřina Šmídková, 2005. "How Inflation Targeters (Can) Deal with Uncertainty," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 55(7-8), pages 316-332, July. [Downloadable!]

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This page was last updated on 2009-11-30.

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