This paper discusses the processes of nominal and real convergence and their dependence on exchange rate regimes adopted in Central and Eastern European countries (CEECs) in the context of their future EMU accession. We focus our argument on the possibility of trade-off between the pace of...

Among other preparatory tasks for integration with the European Union, economies of Central Europe are under pressure to achieve high degrees of economic stability, including stability of currencies. The introduction of flexible currency exchange-rates regimes as well as the application of...