On 7th of November 2013 the Board of the Czech National Bank decided to start using the exchange rate CZK/EUR as an additional instrument for easing the monetary conditions in order to avoid the long-term undershooting of the inflation target. The aim of this paper is to contribute to the...

In this paper, we consider an alternative perspective to China's exchange rate policy. We study a semi-open economy where the private sector has no access to international capital markets but the central bank has full access. Moreover, we assume limited financial development generating a large...

Since the beginning of the decade, numerous economic and monetary unification projects have aroused a lot of interest. The reinforcement of economic and monetary integration, especially in Europe, has set a trend for the creation of a monetary union in many others regions of the world. Since...

The paper first compares the monetary and exchange-rate policies conducted in the CEECs and by one of the neighbouring countries of the United States (Mexico). It is shown that Mexico has implemented reasonably expansionary policies, boosting production while avoiding financial imbalances and...

The paper presents an analysis of exchange rate policy in Vietnam during 2008–2009. In early 2008, the country faced a sudden reversal of capital flows as signs of developing domestic vulnerabilities became evident. The downward pressure on the dong then intensified with the onset of the...