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Taylor rules for CEE-EU countries: How much heterogeneity?

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  • Sydykova, Meerim
  • Stadtmann, Georg

Abstract

We derive Taylor rates for those CEE-EU countries which are not part of the Eurozone. The degree of heterogeneity decreased tremendously over time (2005 - 2015). Nevertheless, the business cycles are still not fully synchronized. As a consequence, joining the Eurozone seems to be premature and should not be an option right now.

Suggested Citation

  • Sydykova, Meerim & Stadtmann, Georg, 2015. "Taylor rules for CEE-EU countries: How much heterogeneity?," Discussion Papers 377, European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics.
    • Handle: RePEc:zbw:euvwdp:377
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    References listed on IDEAS

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    1. Fernanda Nechio, 2011. "Monetary policy when one size does not fit all," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue june13.
    2. John C. Williams, 2015. "Monetary policy and the independence dilemma," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    3. Paul De Grauwe & Gunther Schnabl, 2005. "Nominal Versus Real Convergence – EMU Entry Scenarios for the New Member States," Kyklos, Wiley Blackwell, vol. 58(4), pages 537-555, November.
    4. Taylor, John B., 1993. "Discretion versus policy rules in practice," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 195-214, December.
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    More about this item

    Keywords

    CEE; monetary policy; currency union; convergence; Taylor rule;
    All these keywords.

    JEL classification:

    • 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
    • F15 - International Economics - - Trade - - - Economic Integration

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