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Generally speaking, money demand models represent a natural benchmark against which monetary developments can be assessed. In particular, the existence of a well-specified and stable relationship between money and prices can be perceived as a prerequisite for the use of monetary aggregates in...
Persistent link: https://www.econbiz.de/10013317611
inflation observed in the European catching-up countries, which suggests that other factors may be at play. In these and related … non-traded sectors) on the dual inflation differential is more than twice as large as that in the "flexible" countries. We … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …
Persistent link: https://www.econbiz.de/10010191206
This study examines the impact of various monetary policy regimes on the ability to lower inflation and exchange rate … risk premiums in the EU accession countries as they undergo monetary convergence to the eurozone. It proposes a monetary … policy framework of flexible targeting of relative inflation risk premium that is believed to be credible and useful for …
Persistent link: https://www.econbiz.de/10014067013
This study presents a cost-benefit analysis of euro adoption for the case of Bulgaria. Based on a review of existing similar studies for other East European EU member states, it outlines the basic types of potential costs and benefits of euro adoption, and applies them to the specific Bulgarian...
Persistent link: https://www.econbiz.de/10011387183
This paper examines whether European integration, manifesting itself in increased trade and FDI linkages, new specializations and economic policy coordination, contributed to the synchronization of business cycles in the enlarged EU. We estimate the effects on bilateral growth rate correlations...
Persistent link: https://www.econbiz.de/10011346443
the eurozone. …
Persistent link: https://www.econbiz.de/10011527190
experienced relatively high inflation and a market depreciation of their currency. Their monetary systems have gone through …
Persistent link: https://www.econbiz.de/10011511064
Der vorliegende Diskussionsbeitrag entstand im Rahmen eines Forschungsprojektes über die monetäre Integration von fünf mittel- und osteuropäischen EU-Beitrittskandidaten (Estland, Polen, Slowenien, Tschechische Republik und Ungarn). Während die vorangegangenen Kapitel des Projekts die Vor-...
Persistent link: https://www.econbiz.de/10010508244
The objective of this study is to examine recent developments in trade and FDI flows between the EU and the CEEC, trying to anticipate future consequences from the economic integration of the two blocks. Economic theory suggests that integration conveys positive effects upon welfare, due to the...
Persistent link: https://www.econbiz.de/10002190198
what are the chances for the euro to preserve its influence and to combat inflation after accession of ten new member …
Persistent link: https://www.econbiz.de/10002612492