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A number of authors have used the concept of an optimum currency area (or OCA) index to assess the relative proximity … of various pairs of economies to the ideal of an optimum currency area. Alas, a significant deficiency of this approach … late-transition economies to be better prepared for a common currency with Germany than several current euro area members. …
Persistent link: https://www.econbiz.de/10009210902
This paper wants to give a basic overview of arguments for and against of using the financial derivatives tools in the field of foreign exchange risk management. The case study shows, how the separate hedging instruments have impact on P & L statement. This paper discusses different relationship...
Persistent link: https://www.econbiz.de/10009398919
English Abstract: The article deal with optimum currency area (OCA) theory and examines which of the new EU member … candidates for adopting the single currency euro as compared with other EU-10 countries …
Persistent link: https://www.econbiz.de/10013029874
The paper discusses the phenomenon of long-term real equilibrium appreciation of the koruna in the context of economic, i.e. nominal and real convergence. The real appreciation can take place either through a nominal exchange rate channel or through inflation differential channel vis-á-vis the...
Persistent link: https://www.econbiz.de/10008509956
The article summarizes recognized empirical knowledge about the causes of currency crises, making use of several …
Persistent link: https://www.econbiz.de/10008549678
The paper provides an introduction to essays published in this volume, which focus on nominal and real convergence in transition countries. The paper is based on the idea that the process of convergence can, to a large extent, be viewed via developments in real exchange rates. Key issues...
Persistent link: https://www.econbiz.de/10008549861
The exchange rate cannot significantly diverge from a (real) long-term equilibrium level consistent with the macroeconomic picture of an economy for a long period of time; otherwise, the economy suffers from macroeconomic imbalances such as below-potential growth and below natural employment, or...
Persistent link: https://www.econbiz.de/10005103172
and quantifies the size of the real exchange rate appreciation of the Czech currency in the period 1993-2007 as a result …
Persistent link: https://www.econbiz.de/10005036411