The paper analyzes the differences in managing exchange rate fluctuations in an inflation-targeting monetary framework in the case of (former) transition economies. Differences in managing the exchange rate fluctuations are identified according to the extent of managing as hard (dirty) versus...

This paper contributes to the literature on monetary policy responses in emerging economies to international financial crises. Such an issue is especially relevant for these countries insofar as they tend to be more unstable than developed countries. In addition, they suffer from larger...

The paper explores (former) transition economies, Poland, Czech Republic, Slovakia and the Republic of Serbia, concerning abandonment of the exchange rate targeting and fixed exchange rate regimes and movement toward explicit/implicit inflation targeting and flexible exchange rate regimes. The...

The global economic crisis confronted emerging European countries with abrupt external shocks, while adjustment mechanisms differed according to exchange rate regimes. ‘Fixers’ were forced to accept internal devaluation, while ‘floaters’ used the exchange rate as a shock absorber....

<title>Abstract</title>The aim of this paper is to determine whether, and to what extent, the migrations from the EU-8+2 to the EU-15 were motivated by differences in earnings and productivity and to what extent by differences in welfare state generosity during the period of the transitional arrangements. On...

Emerging economies have specificities which distance them compared to advanced economies in practicing inflation targeting (IT) monetary regime. One of the main differences in performing IT in advanced compared to emerging economies is “fear of floating†problem in emerging group....

The European welfare regimes face two sets of challenges. One internal, specific for the welfare state itself, and the other external, imposed by changing economic, political and economics conditions. The first challenge lies in the growing gap between the rigid welfare state design and flexible...

Les crises de change des années 90 se sont produites dans un contexte d'intégration financière internationale croissante. Elles ont relancé le débat relatif au choix du régime de change. Le triangle éternel de Krugman (1998) permet de comprendre les termes de ce débat. Ce triangle...

Au cours des années 90, les régimes d'ancrage souple dans les marchés émergent ont montré leur fragilité. En effet, de nombreuses crises de change ont frappé ces régimes, laissant alors apparaître un nouveau consensus autour des solutions en coins comme seuls régimes de change viables....

The aim of this paper is to evaluate to what extent more transparency can reduce the occurrence of speculative attacks. It proposes a survey of the literature about the pros and cons of transparency on the exchange rate market, which is one of the main pillars of the new international financial...