The monetary system in Estonia is based on the currency board arrangement with German Mark. The strong commitments and … rule-based features of currency board imply that there is no active monetary policy in Estonia – all necessarily monetary …

Estonia has had a currency board arrangement (CBA) for more than 10 years. Due to the successful performance of the … Estonian economy under a CBA the current position of the Bank of Estonia is to maintain its exchange rate regime until full … participation in the EMU, inter alia, during Estonia’s participation in ERM 2. Therefore, it is necessary to analyse the reasons for …

Bulgaria did not have any exchange rate crisis, international bailout, bank intervention, or build-up of public debt …

The presence of a Currency Board (CB) monetary system in Bulgaria is a key factor in assessing monetary policy …, together with the analysis of the behavior of real variables, shed a new perspective on the CB functioning of Bulgaria. …

challenges that policy makers in Bulgaria have been facing since 1997. It is argued that despite the macroeconomic stabilization …