The paper is an economic history of the IMF’s involvement in the Baltic states. It describes and analyzes the initial economic stabilization; the period of consolidation and recovery; the effects of the Russian crisis of 1998; and the current growth phases of Lithuania, Latvia, and Estonia. There...

This paper reviews the history of the introduction of the Estonian kroon under a currency board arrangement. On June 20, 1992, Estonia became the first country from the former Soviet Union to abandon the Russian ruble and introduce its own currency. The paper looks at the factors behind this...

This paper examines some of the effects that the emergence of the United Kingdom as a major oil producer, together with the pursuit of firm financial policies as part of an antiinflationary strategy, has had on the U.K. economy and, in particular, on the real exchange rate of the pound sterling,...

The hypothesis that price expectations exercise at least a partially independent influence on actual price behavior is empirically tested. The method used, which differs from earlier analyses, quantifies data from qualitative price surveys to derive an explicit time series of price expectations....

Poland growth dividend not high enough for Maastricht fiscal criterion to be met (by Maciej Krzak, pp. 1-4) Countries covered Poland Topics Macroeconomic Analysis, Forecasts and Policy Fast growth in the Baltic countries continues (by Adalbert Knöbl, pp. 5-8) Countries covered Baltic States...