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Overvalued or Undervalued Euroland Entry?

  • Jens Holscher
  • Mariusz Jarmuzek

This study addresses the question of the conversion rate upon joining the European Union with respect to the accession countries of Eastern Europe. The article argues in favour of an undervalued exchange rate in order to promote income generation in the new member countries. For this purpose a strategy of managed float is proposed. Countries not having the preconditions to pursue such a strategy should adopt a currency board arrangement.

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Article provided by Taylor & Francis Journals in its journal Post-Communist Economies.

Volume (Year): 17 (2005)
Issue (Month): 2 ()
Pages: 235-250

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Handle: RePEc:taf:pocoec:v:17:y:2005:i:2:p:235-250
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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.:

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  1. John Williamson, 1994. "Estimating Equilibrium Exchange Rates," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 17.
  2. Rebecca L Driver & Peter F Westaway, 2005. "Concepts of equilibrium exchange rates," Bank of England working papers 248, Bank of England.
  3. Barrell, Ray & Wren-Lewis, Simon, 1989. "Fundamental Equilibrium Exchange Rates for the G7," CEPR Discussion Papers 323, C.E.P.R. Discussion Papers.
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