Katsimi, Margarita - In: Journal of Macroeconomics 30 (2008) 3, pp. 1043-1063
The paper investigates the transition of the new EU countries with a currency board arrangement (CBA) to the euro-zone. The arguments for and against retaining a CBA while participating in the exchange rate mechanism of the EU (ERMII) are discussed. Then, we show in the framework of a signalling...