The third stage of the Economic and Monetary Union will start on January 1st, 1999, at which point the currencies of the participating countries will be irrevocably fixed as the prelude to the introduction of the euro by 2002. Although the European System of Central Banks’ objective is...

The third stage of the Economic and Monetary Union will start on January 1st, 1999, at which point the currencies of the participating countries will be irrevocably fixed as the prelude to the introduction of the euro by 2002. Although the European System of Central Banks’ objective is...

This paper analyzes reforms and adjustments in the context of the Euro and the global financial crises. Taking the perspective of the evolutionary approach to institutions, the formation of a new currency area is not unidirectional. The process leading to the euro is an example of a common...

The convergence criteria specified in the Maastricht Treaty on government deficit and debt, inflation, the exchange rate and the long-term interest rate will play an important, if not decisive, role in determining which countries move on to the third stage of the Economic and Monetary Union...

The convergence criteria specified in the Maastricht Treaty on government deficit and debt, inflation, the exchange rate and the long-term interest rate will play an important, if not decisive, role in determining which countries move on to the third stage of the Economic and Monetary Union...

Ez az írás a monetáris unió és a keleti kibővítés kapcsolatának néhány aspektusát elemzi a magyar gazdaságpolitika szempontjából. Rövid elméleti áttekintés után azokat a lehetőségeket és módokat ismerteti, ahogyan Magyarország kapcsolódhat a monetáris unióhoz, majd...

Az európai pénzügyi egyesülési folyamat és a kelet-európai változások folytán széttöredező valutauniók fontos árfolyam-politikai kérdéseket vetnek fel. Így nem véletlen, hogy a kilencvenes évek nemzetközi monetáris közgazdaságtanának egyik fő témája lett az optimális...

This paper argues that, in contrast to the popular bipolar view on exchange rate choices, intermediate regimes in general and regional exchange rate systems such as the European Monetary System (EMS) in particular should not be ruled out per se even in today?s world of highly mobile capital. The...

This paper attempts to provide a comprehensive overview on the theoretical and empirical analysis of the selection and assessment of exchange rate regimes. The literature can be divided into two main groups: classical and modern. The first group refers to earlier studies examining the...

This paper explore more than 30 years of ideas on the issues surrounding the selection and assessment of exchange rate regimes. It will attempt to provide a comprehensive overview on the theoretical and empirical analysis of the selection and assessment of exchange rate regimes, exposing and...