IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

European monetary union and risks for real convergence

  • Kamil Janáček
  • Stanislava Janáčková

New members of the EU will not form an optimum currency area with the present eurozone member states. The article discusses some costs and benefits of an early EMU entry for the Czech Republic (and other Central-European economies). The authors concentrate on the consequences of loss of country-specific monetary policy, and of exchange-rate flexibility. They also stress the problem of finding the appropriate level at which to fix the exchange rate for both ERM-II and eurozone entry. The importance of both nominal and real convergence is underlined for a successful catch-up. The conclusion is that a "no hurry" policy for euro would be beneficial for a long-term catch-up process of the Czech Republic. Use of country-specific monetary policy is indispensable for real convergence.

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.

File URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=468.pdf
Download Restriction: free of charge

File URL: http://www.vse.cz/polek/468
Download Restriction: free of charge

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.

Article provided by University of Economics, Prague in its journal Politická ekonomie.

Volume (Year): 2004 (2004)
Issue (Month): 4 ()
Pages: 435-450

as
in new window

Handle: RePEc:prg:jnlpol:v:2004:y:2004:i:4:id:468:p:435-450
Contact details of provider: Postal: nam. W. Churchilla 4, 130 67 Praha 3
Phone: (02) 24 09 51 11
Fax: (02) 24 22 06 57
Web page: http://www.vse.cz/

More information through EDIRC

Order Information: Postal: Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
Web: http://www.vse.cz/polek/ Email:


No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2004:y:2004:i:4:id:468:p:435-450. 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: (Vaclav Subrta)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.