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Liberalized Markets Have More Stable Exchange Rates; Short-Run Evidence From Four Transition Countries
Bulir, Ales - International Monetary Fund (IMF) - 2004
sample of four transition economies and finds that exchange rates tend to return faster to their Hodrick … central banks should not be overly concerned with short-run volatility of their national exchange rates, given the self …
Persistent link: https://www.econbiz.de/10005599329
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Czech Koruna and Polish Zloty Currency Options; Information Contnent and Eu-Accession Implications
Morales, Armando Méndez - International Monetary Fund (IMF) - 2000
Currency option implied volatility predicts more efficiently exchange rate volatility for the Polish zloty relative to … GARCH model shows a positive impact of the introduction of the Euro on exchange rate volatility for the Polish zloty … (negative for the Czech koruna), related to its larger exposure to external shocks. For countries in transition to Euro …
Persistent link: https://www.econbiz.de/10005248136
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Exchange Rate Regimes in Selected Advanced Transition Economies; Coping with Transition, Capital Inflows, and EU Accession
International Monetary Fund (IMF); International … - 2000
Since beginning economic transition, the Czech Republic, Estonia, Hungary, Poland, and Slovenia have—with much success …
Persistent link: https://www.econbiz.de/10005264251
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Determinants of Foreign Currency Borrowing in the New Member States of the EU
Rosenberg, Christoph B.; Tirpák, Marcel - International Monetary Fund (IMF) - 2008
The paper investigates the determinants of foreign currency borrowing by the private sector in the new member states of the European Union. We find that striking differences in patterns of foreign currency borrowing between countries are explained by the loan-to-deposit ratios, openness, and the...
Persistent link: https://www.econbiz.de/10005825762
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Macroeconomic Challenges with Eu Accession in Southeastern Europe; An Overview
Sorsa, Piritta - International Monetary Fund (IMF) - 2006
The paper reviews key macroeconomic challenges with EU accession in Southeastern Europe (SEE). Most of the countries in the region are years away from EU accession and need substantial progress to meet the key macroeconomic criteria-the establishment of a functioning market economy and...
Persistent link: https://www.econbiz.de/10005768897
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Competitiveness in the Baltics in the Run-Up to EU Accession
International Monetary Fund (IMF); International … - 2003
have driven movements in equilibrium real exchange rates in the Baltics since the start of the transition process. In the … earlier years of transition, price liberalization, increased demand for services and other nontradables, and shifts in …
Persistent link: https://www.econbiz.de/10005591344
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Exchange Rates in the New EU Accession Countries; What Have We Learned from the Forerunners?
Smídková, Katerina; Bulir, Ales - International Monetary Fund (IMF) - 2005
Estimation and simulation of sustainable real exchange rates in some of the new EU accession countries point to potential difficulties in sustaining the ERM2 regime if entered too soon and with weak policies. According to the estimates, the Czech, Hungarian, and Polish currencies were overvalued...
Persistent link: https://www.econbiz.de/10005599488
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Pros and Cons of Currency Board Arrangements in the Lead-Up to EU Accession and Participation in the Euro Zone
Gulde, Anne Marie; Kähkönen, Juha; Keller, Peter - International Monetary Fund (IMF) - 2000
) have also been generally favorable. Can CBAs serve these transition countries well all the way up to the adoption of the …
Persistent link: https://www.econbiz.de/10005605518
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Putting the Parts together; Trade, Vertical Linkages, and Business Cycle Comovement
Levchenko, Andrei A.; Giovanni, Julian di - International Monetary Fund (IMF) - 2009
Countries that trade more with each other exhibit higher business cycle correlation. This paper examines the mechanisms underlying this relationship using a large cross-country industry-level panel dataset of manufacturing production and trade. We show that sector pairs that experience more...
Persistent link: https://www.econbiz.de/10008528677
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Nonlinear Exchange Rate Models; A Selective Overview
Sarno, Lucio - International Monetary Fund (IMF) - 2003
This paper provides a selective overview of nonlinear exchange rate models recently proposed in the literature and assesses their contribution to understanding exchange rate behavior. Two key questions are examined. The first question is whether nonlinear autoregressive models of real exchange...
Persistent link: https://www.econbiz.de/10005825647