This paper focuses on adjustments in fiscal policy in five CEC’s whose accession seems to be politically most feasible, and who have expressed the strongest desire to join the Union. They include: Poland, the Czech Republic, Slovakia, Hungary, and Slovenia. Fiscal consolidation in these...

This paper discusses perceived benefits and disadvantages of direct inflation targeting for economies in transition in Central Europe. It examines the experience of net inflation targeting in the Czech Republic and of CPI forecast targeting regimes in Poland, providing specific suggestions for...