reserve requirements are set in relation to the monetary base. Between 1998 and 2000 in Estonia this ratio even ranged between … 40 and 50 percent and Lithuania this ratio amounted to about 20 percent during this period. Other instruments than …

In the years 2004-2014 the Lithuania's exchange rate policy was based on a rigid currency board system. After a period …. However, the consequences of this exchange rate system in the following years (until 2014) prevented Lithuania from meeting … analysis refers to the case of Lithuania and covers the years 2004-2014. The purpose of this analysis is to look at the effects …