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This paper examines, in the context of future EMU membership of the Central and Eastern European countries (CEECs), the interaction between fiscal policy and the price level in different exchange rate regimes. The theoretical framework is based on the Fiscal Theory of the Price Level (FTPL). The...
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Inflation in Central and East European countries varied considerably over the transition phase, and econometric … some light on the issue, this paper analyses some empirical models of the inflation process in the three earliest east … experienced high rates of inflation, although significant disinflation measures were introduced during the mid-nineties to enhance …
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This study examines the impact of various monetary policy regimes on the ability to lower inflation and exchange rate … policy framework of flexible targeting of relative inflation risk premium that is believed to be credible and useful for … managing these two categories of risk. A model of inflation and exchange rate risk premiums within the context of inflation …
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