Exchange-rate System between the Czech and Slovak Republics

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Exchange-rate System between the Czech and Slovak Republics

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Katerina Smidkova (Czech National Bank)

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Katerina Smidkova

Abstract

In 1992, the political dissolution of Czechoslovakia highlighted the problem of designing monetary disintegration for two interdependent republics. In this study, the exchange-rate system of the two newly established currencies that was an analogy to the currency union was described. The newly gained potential of independence in monetary and exchange-rate policies was analyzed in this context. The study assessed costs and benefits of the gradual approach to monetary disintegration that was applied in the Czech-Slovak case. The analysis suggested that the careful design with two intermediate stages was superior to a longer maintaining of a common currency or a sudden monetary disintegration.

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Paper provided by EconWPA in its series Macroeconomics with number 0304004.

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Length: 20 pages
Date of creation: 11 Apr 2003
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Handle: RePEc:wpa:wuwpma:0304004

Note: Type of Document - ; pages: 20 . IE CNB Working paper 1994/16
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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-2003-04-13 (All new papers)
NEP-IFN-2003-04-13 (International Finance)
NEP-TRA-2003-04-13 (Transition Economics)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Frankel, Jeffrey A & Rockett, Katharine E, 1988. "International Macroeconomic Policy Coordination When Policymakers Do Not Agree on the True Model," American Economic Review, American Economic Association, vol. 78(3), pages 318-40, June. [Downloadable!] (restricted)
Bofinger, Peter, 1990. "A Multilateral Payments Union for Eastern Europe?," CEPR Discussion Papers 458, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Fidrmuc, J. & Horvath, J., 1998. "Stability of monetary unions : lessons from the break-up of Czechoslovakia," Discussion Paper 74, Tilburg University, Center for Economic Research. [Downloadable!]
Other versions:
- Fidrmuc, Jan & Horvath, Julius & Fidrmuc, Jarko, 1999. "Stability of Monetary Unions: Lessons from the Break-up of Czechoslovakia," Transition Economics Series 10, Institute for Advanced Studies. [Downloadable!]

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