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150128 ||| eng |
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|a 9781451841794
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| 100 |
1 |
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|a Kuijs, Louis
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| 245 |
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0 |
|a Exchange Rates in Central Europe
|b A Blessing or a Curse?
|c Louis Kuijs, Alain Borghijs
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2004
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| 300 |
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|a 29 pages
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| 651 |
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4 |
|a Czech Republic
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| 653 |
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|a Exchange rate arrangements
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| 653 |
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|a International Monetary Arrangements and Institutions
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| 653 |
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|a Dynamic Treatment Effect Models
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| 653 |
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|a Currency; Foreign exchange
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| 653 |
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|a Exchange rate adjustments
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| 653 |
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|a Diffusion Processes
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| 653 |
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|a Time-Series Models
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Exchange rate flexibility
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| 653 |
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|a Real exchange rates
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| 653 |
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|a Dynamic Quantile Regressions
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| 653 |
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|a Exchange rates
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| 653 |
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|a State Space Models
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| 653 |
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|a Foreign exchange
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| 700 |
1 |
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|a Borghijs, Alain
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
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|a 10.5089/9781451841794.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2004/002/001.2004.issue-002-en.xml?cid=17091-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a Central European accession countries (CECs) are currently considering when to adopt the euro. From the perspective of macroeconomic stabilization, the cost or benefit of giving up a flexible exchange rate depends on the types of asymmetric shocks hitting the economy and the ability of the exchange rate to act as a shock absorber. Economic theory suggests that flexible exchange rates are useful in absorbing asymmetric real shocks but unhelpful in the case of monetary and financial shocks. For five CECs-the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia-empirical results on the basis of a structural VAR suggest that in the CECs the exchange rate appears to have served as much or more as an unhelpful propagator of monetary and financial shocks than as a useful absorber of real shocks
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