Monetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU

The more advanced Central and Eastern European Countries (CEECs) face an evolving set of considerations in choosing their exchange rate policies. On the one hand, capital mobility is increasing, and this imposes additional constraints on fixed exchange rate regimes, while trend real appreciation mak...

Full description

Main Author: Masson, Paul R.
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1999, 1999
Series:IMF Policy Discussion Papers; Policy Discussion Paper No. 99/5
Subjects:
Emu
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:The more advanced Central and Eastern European Countries (CEECs) face an evolving set of considerations in choosing their exchange rate policies. On the one hand, capital mobility is increasing, and this imposes additional constraints on fixed exchange rate regimes, while trend real appreciation makes the combination of low inflation and exchange rate stability problematic. On the other hand, the objectives of EU and eventual EMU membership make attractive a peg to the euro at some stage in the transition. The paper discusses these conflicting considerations, and considers the feasibility of an alternative monetary framework, inflation targeting
Physical Description:26 p.
ISBN:9781451972641
1451972644