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This paper examines, in the context of future EMU membership of the Central and Eastern European countries (CEECs), the interaction between fiscal policy and the price level in different exchange rate regimes. The theoretical framework is based on the Fiscal Theory of the Price Level (FTPL). The...
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risk premiums in the EU accession countries as they undergo monetary convergence to the eurozone. It proposes a monetary …
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but also to adopt the euro at an early date. This is justified by the effort to avoid the danger of financial instability … in the period prior to euro-introduction. However, by trying to avoid this danger, the CEECCs, at least the (economically … der Euro-Einführung verringert wird. Dies kann allerdings die Beitrittsländer (zumindest die ökonomisch, institutionell …
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are clearly present and explain around 24% of inflation differentials vis-a-vis the euro area (about 1.2 percentage points …
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