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Despite the significant academic interest in the economic cohesion, the various aspects of convergence and the ways they can be measured still remain theoretically unclear. These are issues of extreme political significance, especially for countries aspiring for EU and euro area membership. The...
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inflation to growth for both Hungary and Poland, as suggested by the model, although there is some feedback to money for Poland …. Applied to two accession countries, Hungary and Poland, a VAR system is estimated for each that incorporates endogenously …The paper presents a model in which the exogenous money supply causes changes in the inflation rate and the output …
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