A Small Macroeconomic Model of the EU-Accession Countries
This paper develops a small macro-economic model of the CEECs to analyze various aspects of integration with the current EU and the role of monetary and exchange rate strategies during the (pre-) accession phase. The model gives insight into both the adjustment of the internal balance (as for output and employment) and the external balance (as for exports and competitiveness) in the accession countries. The model provides more insight into the basic macroeconomic relationships governing macroeconomic adjustment in the accession countries and also the role of the integration with the EU in that adjustment. We perform empirical simulations of different scenarios and analyze the resulting macroeconomic adjustment. In particular, we compare how a macroeconomic shock in the current EU is transmitted to the accession countries under flexible and fixed euro exchange rates, respectively. Copyright Kluwer Academic Publishers 2003
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
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.:
- Arratibel, Olga & Rodriguez-Palenzuela, Diego & Thimann, Christian, 2002. "Inflation dynamics and dual inflation in accession countries: a 'New Keynesian' perspective," Working Paper Series 0132, European Central Bank.
- Lúcio Vinhas de Souza, 2002. "Integrated Monetary and Exchange Rate Frameworks," Tinbergen Institute Discussion Papers 02-054/2, Tinbergen Institute.
- 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.
- K. Hristov & Nikolay Nenovsky & V. Yotzov, 2000. "Inflation under a Currency Board (the case of Bulgaria)," Post-Print halshs-00260084, HAL.
- Ray C. Fair, 2001.
"Estimates of the Effectiveness of Monetary Policy,"
Cowles Foundation Discussion Papers
1298, Cowles Foundation for Research in Economics, Yale University, revised Jun 2003.
- Bofinger, Peter & Wollmershäuser, Timo, 2001.
"Is there a third way to EMU for the EU accession countries?,"
Munich Reprints in Economics
20209, University of Munich, Department of Economics.
- Bofinger, Peter & Wollmershauser, Timo, 2001. "Is there a third way to EMU for the EU accession countries?," Economic Systems, Elsevier, vol. 25(3), pages 253-274, September.
- Jusczak, Grazyna & Kazmierska, Maria Magdalena & Lapinska-Sobczak, Nina & Welfe, Wladyslaw, 1993. "Quarterly model of the polish economy in transition (with special emphasis on financial flows)," Economic Modelling, Elsevier, vol. 10(2), pages 127-149, April.
- Hall, Stephen & Mizon, Grayham E. & Welfe, Aleksander, 2000.
"Modelling economies in transition: an introduction,"
Elsevier, vol. 17(3), pages 339-357, August.
- Hall, S. & Mizon, G.E. & Welfe, A., 1999. "Modelling economies in transition: an introduction," Discussion Paper Series In Economics And Econometrics 9919, Economics Division, School of Social Sciences, University of Southampton.
- Lucio Vinhas de Souza, 2002. "Integrated monetary and exchange rate frameworks: are there empirical differences?," Bank of Estonia Working Papers 2002-2, Bank of Estonia, revised 12 Oct 2002.
- Schoors, Koen, 2002. "Should the Central and Eastern European Accession Countries Adopt the Euro before or after Accession?," Economic Change and Restructuring, Springer, vol. 35(1), pages 47-77.
- Orlowski, Lucjan T., 2001. "From inflation targeting to the euro-peg: A model of monetary convergence for transition economies," Economic Systems, Elsevier, vol. 25(3), pages 233-251, September.
- Douven, R. C. & Plasmans, J. E. J., 1996. "SLIM, a small linear interdependent model of eight EU-member states, the USA and Japan," Economic Modelling, Elsevier, vol. 13(2), pages 185-233, April.
When requesting a correction, please mention this item's handle: RePEc:kap:openec:v:14:y:2003:i:3:p:221-250. 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: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.