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Disparities of Exchange Rates in CEE Countries

Author

Listed:
  • Evzen Kocenda

    (CERGE-EI)

Abstract

This paper analyzes disparities among nominal and real exchange rate movements across the Central and Eastern European (CEE) countries from 1991 to 1996. The method of analyzing such processes is to examine whether the differentials of exchange rate changes converge or diverge over time. Currently nine countries in Central and Eastern Europe have formally applied for full membership in the European Union. The results support convergence in general, but indicate a wide disparity in the degree of convergence. From the real exchange rate standpoint the paper identifies the best candidates to join the European Union in the first round of accession.

Suggested Citation

  • Evzen Kocenda, 2001. "Disparities of Exchange Rates in CEE Countries," International Finance 0012004, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpif:0012004
    Note: Type of Document - Acrobat PDF; pages: 30 ; figures: included
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/if/papers/0012/0012004.pdf
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    References listed on IDEAS

    as
    1. John Y. Campbell & Pierre Perron, 1991. "Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots," NBER Chapters,in: NBER Macroeconomics Annual 1991, Volume 6, pages 141-220 National Bureau of Economic Research, Inc.
    2. Ben-David, D., 1995. "Measuring Income Convergence an Alternative Test," Papers 41-95, Tel Aviv.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Exchange rates; Convergence; Transition; European Union;

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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