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Monetary policy under alternative exchange rate regimes in Central and Eastern Europe
Ziegler, Christina Elisabeth - 2012
inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an … inflation target are tempted to act time-inconsistently and switch from the announced inflation target to an exchange rate … target in order to sustain higher output via surprise inflation. If market participants discover the time-inconsistency, they …
Persistent link: https://www.econbiz.de/10009503785
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Managing capital flows : experiences from Central and Eastern Europe
Hagen, Jürgen von (contributor);  … - 2008
The countries of Central and Eastern Europe went from being largely closed to being largely open to international capital flows. This paper discusses their experience with capital account liberalization and coping with large capital inflows. We start with a discussion of basic economic...
Persistent link: https://www.econbiz.de/10003719217
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Understanding the crisis in emerging Europe
Berglöf, Erik; Korniyenko, Yevgeniya; Plekhanov, Alexander - 2009
Despite the large output declines suffered by emerging Europe in 2008-09, a major currency and banking crisis was avoided. This paper argues that European economic and political integration was a mitigating factor in this. Cross-border banking groups, in particular, seem to have forestalled a...
Persistent link: https://www.econbiz.de/10003916261
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Stock market integration between three CEECs, Russia and the UK
Caporale, Guglielmo Maria; Spagnolo, Nicola - 2010
This paper estimates a tri-variate VAR-GARCH(1,1)-in-mean model to examine linkages between the stock markets of three Central and Eastern European countries (CEECs), specifically the Czech Republic, Hungary, and Poland, and both the UK and Russia. The adopted framework allows to analyse...
Persistent link: https://www.econbiz.de/10003942221
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Multi-level analysis of dynamic portfolio formations : Central European countries
Princ, Michael - 2013
The paper focused on measuring efficiency of investment strategies and portfolio optimization based on dynamic portfolio formation using the global minimum variance approach in a region of central European countries. The paper analyses DCC GARCH model, which was employed in order to obtain...
Persistent link: https://www.econbiz.de/10009786883
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Catching up : the role of demand, supply and regulated price effects on the real exchange rates of four accession countries
MacDonald, Ronald; Wójcik, Cezary - 2003
, although their overall effect on inflation differentials and competitiveness seems to be small. An additional focus of the …
Persistent link: https://www.econbiz.de/10011506491
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Managing capital flows : experiences from Central and Eastern Europe
Hagen, Jürgen von (contributor);  … - 2008
The countries of Central and Eastern Europe went from being largely closed to being largely open to international capital flows. This paper discusses their experience with capital account liberalization and coping with large capital inflows. We start with a discussion of basic economic...
Persistent link: https://www.econbiz.de/10003746775
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Transition Results and Perspectives of (Un)Healthy Credit Growth in Central, Eastern and South-Eastern Europe
Haiss, Peter R. - 2011
Since the late 1990s financial strategies for opening Eastern European markets and entry strategies of foreign banks in most CESEE countries included triggers for strong credit growth, especially in the private sector. What are the transition results on the macro level? Does this credit growth...
Persistent link: https://www.econbiz.de/10013117817
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Global and Local Sources of Risk in Eastern European Emerging Stock Markets
Fedorova, Elena - 2009
We study a pricing model for global and local sources of risk in six Eastern European emerging stock markets. Utilizing GMM estimation and an unconditional asset-pricing framework with and without time-varying betas, we perform estimations based on monthly data from 1996 to 2007 for Poland, the...
Persistent link: https://www.econbiz.de/10013156114
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Financial Liberalization and Business Cycles : The Experience of Countries in the Baltics and Central Eastern Europe
Vinhas de Souza, Lucio Vinhas - 2016
Persistent link: https://www.econbiz.de/10012991348