This article addresses the issue of macroeconomic policies in the pre-accession period. The key theme is an assessment of the relationship between the real and nominal convergence of the candidate countries towards the EU. Support for real convergence cannot procced on a long-term basis in...

This article addresses the issue of macroeconomic policies in the pre-accession period. The key theme is an assessment of the relationship between the real and nominal convergence of the candidate countries towards the EU. Support for real convergence cannot proceed on a long-term basis in...

The paper consists of four parts each of them devoted to a practical aspect of inflation targeting as conducted by the Czech National Bank. The first part outlines the reasons that led to the adoption of this monetary regime and summarises other advantages for effective and transparent...

The paper evaluates some policy dilemmas the Czech monetary policy will face on the way towards adopting common currency. The assessment of the inflation criterion concentrates on the potential clash with so called real convergence showing that alleged negative influences on the catching-up...

The paper evaluates some policy dilemmas the Czech monetary policy will face on the way towards adopting common currency. The assessment of the inflation criterion concentrates on the potential clash with so called real convergence showing that alleged negative influences on the catching-up...