We propose using a simple Taylor rule to evaluate business cycle convergence of the Czech Republic, Hungary, and Poland with the Eurozone. Our findings indicate an ongoing convergence of those CEE countries to the Eurozone, but with instabilities and heterogeneity between the countries....

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...

The successful accession to membership in the European Union (EU) by the current transition-economy applicants, the Czech Republic, Hungary, the Slovak Republic, Slovenia and Poland, will depend to a large extent on their ability to align themselves with the institutions and the macroeconomic...