This paper examines the inflation targeting experience in three transition countries: the Czech Republic, Poland and … Hungary. While the examined countries have missed inflation targets often by a large margin, they nevertheless progressed well …

membership (Czech Republic, Hungary, Poland, and Slovakia). A Multi-Annual Fiscal Adjustment Strategy (MAFAS) and a Pre …

Poland so far. We then develop a model and use it to think about the determinants of the speed of transition and the level of … unemployment. Finally, we return to the role of policy and the future in Poland, as well as the causes of cross-Central European …

We ask whether Poland is at risk of the boom-bust problem that has afflicted economies around the time of euro adoption …. Our answer, inevitably, is mixed. On the one hand the fact that Poland is an outlier, credit-growth wise, accentuates the … from expectations of euro adoption will further feed that boom. On the other hand the fact that interest rates have already …

strategies may sometimes be the best. This paper compares the regulation of financial markets in Poland and the Czech Republic in … the 1990s, when the judicial systems remained underdeveloped in both countries. In Poland, strict enforcement of the …

in the United Kingdom and the euro area, have increased our ability to evaluate the effects that joining monetary union ….K. regime (CPI inflation targeting combined with a floating exchange rate), and adoption of the euro, as monetary policy options … stability under monetary union also diminishes if imports from the euro area are modeled as primarily intermediates instead of …

propose a comprehensive description of how monetary policy affects the euro area economy. We focus mainly on three questions …) if not, is the bank lending channel a likely candidate to complete the story? We find plausible euro-area wide monetary … (relative to consumption) seems to play a larger role in euro area monetary policy transmission than in the U.S. We cannot …

This paper characterizes the transmission mechanism of monetary shocks across countries of the euro area, documents how … this mechanism has changed with the introduction of the euro, and explores some potential explanations. The factor …-augmented VAR (FAVAR) framework used is sufficiently rich to jointly model the euro area dynamics while permitting the transmission …