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Here the author empirically estimates if the different monetary and exchange rate frameworks observed in the Accession Countries of Central and Eastern Europe and the Baltics do yield different outcomes in terms of level and variance of a set of nominal and real variables. The author follows and...
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The presently tenuous situation in Turkey will worsen if the government does not take appropriate policy action. In view of foreign investors’ loss of confidence, the cost of external financing is likely to rise while consumption and investment will fall, and the Turkish lira would depreciate...
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the world. Among them, the National Bank or Romania changed in mid-2005 the strategy of the monetary policy with IT. As a … member of the European Union, Romania's ultimately aspiration is the adoption of the euro as a means to achieve its objective … convergence criteria, Romania must spend at least two years in the ERM II, keeping its exchange rate towards the euro stable …
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We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks' laws and websites for 50 advanced economies,...
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