This study uses NAIRU short-term measures obtained using univariate methods as a basis to analyse inflation developments in the eight Central and Eastern European Countries (CEECs) that joined the European Union in 2004 during the transition process. The results point to the role of short-term...

The degree of convergence in fiscal pressure registered in the European Union during the 1967-94 period is studied. To that end, OECD data is used and both the traditional cross-sectional convergence indicators and the time series analysis of the longrun properties of the data set are examined.

In this paper a Keynesian model is applied for real exchange rate determination based on the concept of fiscal impulses. This model was proposed by Obstfeld (1985) and studies the effect of relative demand shocks on the real exchange rate.