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I present evidence that exchange rate fluctuations among the world's major currencies significantly affect the business cycles of small open economies. The impact of those fluctuations on any given country depends crucially on its exchange rate regime. The three Baltic countries in Central...
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In the years 2004-2014 the Lithuania's exchange rate policy was based on a rigid currency board system. After a period …. However, the consequences of this exchange rate system in the following years (until 2014) prevented Lithuania from meeting … analysis refers to the case of Lithuania and covers the years 2004-2014. The purpose of this analysis is to look at the effects …
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