Exchange rate regimes in Central, Eastern and Southeastern Europe :: a euro bloc and a dollar bloc /
There are 13 countries in Central, Eastern and Southeastern Europe (CESEE) with floating exchange rate regimes, de jure. This paper uses the framework pioneered by Frankel and Wei (1994) and extended in Frankel and Wei (2008) to show that most of them have been tracking either the euro or the US dol...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
[Washington, District of Columbia] :
International Monetary Fund,
2017.
[Washington, D.C.] : [2017] |
Schriftenreihe: | IMF working paper ;
WP/17/83. |
Schlagworte: | |
Online-Zugang: | Volltext |
Zusammenfassung: | There are 13 countries in Central, Eastern and Southeastern Europe (CESEE) with floating exchange rate regimes, de jure. This paper uses the framework pioneered by Frankel and Wei (1994) and extended in Frankel and Wei (2008) to show that most of them have been tracking either the euro or the US dollar in recent years. Eight countries, all of them current or aspiring EU members, track the euro. Of the five countries keying on the US dollar in various degrees, all but one belong to the Commonwealth of Independent States. The paper shows that the extent to which each country's currency tracks the euro (or the dollar) is correlated with the structure of its external trade and finance. However, some countries appear to track the EUR or USD to an extent which appears inconsistent with inflation targeting, trade or financial integration, or the extent of business cycle synchronization. The phenomenon is particularly pronounced among the countries in the CESEE euro bloc, which may be deliberately gravitating around the euro in anticipation of eventually joining the Euro Area. |
Beschreibung: | 1 online resource (31 pages) : illustrations, tables. |
ISBN: | 1475590989 9781475590982 |
ISSN: | 1018-5941 |
Internformat
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520 | 3 | |a There are 13 countries in Central, Eastern and Southeastern Europe (CESEE) with floating exchange rate regimes, de jure. This paper uses the framework pioneered by Frankel and Wei (1994) and extended in Frankel and Wei (2008) to show that most of them have been tracking either the euro or the US dollar in recent years. Eight countries, all of them current or aspiring EU members, track the euro. Of the five countries keying on the US dollar in various degrees, all but one belong to the Commonwealth of Independent States. The paper shows that the extent to which each country's currency tracks the euro (or the dollar) is correlated with the structure of its external trade and finance. However, some countries appear to track the EUR or USD to an extent which appears inconsistent with inflation targeting, trade or financial integration, or the extent of business cycle synchronization. The phenomenon is particularly pronounced among the countries in the CESEE euro bloc, which may be deliberately gravitating around the euro in anticipation of eventually joining the Euro Area. | |
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illustrated | Illustrated |
indexdate | 2024-11-26T14:49:27Z |
institution | BVB |
isbn | 1475590989 9781475590982 |
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spelling | Slavov, Slavi T., author. Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / by Slavi T. Slavov. [Washington, District of Columbia] : International Monetary Fund, 2017. ©2017 [Washington, D.C.] : International Monetary Fund, [2017] 1 online resource (31 pages) : illustrations, tables. text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper ; WP/17/83 There are 13 countries in Central, Eastern and Southeastern Europe (CESEE) with floating exchange rate regimes, de jure. This paper uses the framework pioneered by Frankel and Wei (1994) and extended in Frankel and Wei (2008) to show that most of them have been tracking either the euro or the US dollar in recent years. Eight countries, all of them current or aspiring EU members, track the euro. Of the five countries keying on the US dollar in various degrees, all but one belong to the Commonwealth of Independent States. The paper shows that the extent to which each country's currency tracks the euro (or the dollar) is correlated with the structure of its external trade and finance. However, some countries appear to track the EUR or USD to an extent which appears inconsistent with inflation targeting, trade or financial integration, or the extent of business cycle synchronization. The phenomenon is particularly pronounced among the countries in the CESEE euro bloc, which may be deliberately gravitating around the euro in anticipation of eventually joining the Euro Area. Online resource; title from PDF title page (IMF, viewed Aug. 26, 2019). Foreign exchange rates Europe, Central. Monetary policy Europe. Exports Europe, Eastern. Taux de change Europe centrale. Politique monétaire Europe. Exportations Europe de l'Est. BUSINESS & ECONOMICS / Finance bisacsh Exports fast Foreign exchange rates fast Monetary policy fast Europe fast https://id.oclc.org/worldcat/entity/E39PBJxCxPbbk4CPJDQJb4r6rq Central Europe fast Eastern Europe fast has work: Exchange Rate Regimes in Central, Eastern and Southeastern Europe (Text) https://id.oclc.org/worldcat/entity/E39PCXrhXCqVJcdYFx4b3FGJXd https://id.oclc.org/worldcat/ontology/hasWork Print version: Slavov, Slavi T Exchange Rate Regimes in Central, Eastern and Southeastern Europe: A Euro Bloc and a Dollar Bloc? Washington, D.C. : International Monetary Fund,2017 9781475590951 IMF working paper ; WP/17/83. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1505067 Volltext |
spellingShingle | Slavov, Slavi T. Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / IMF working paper ; Foreign exchange rates Europe, Central. Monetary policy Europe. Exports Europe, Eastern. Taux de change Europe centrale. Politique monétaire Europe. Exportations Europe de l'Est. BUSINESS & ECONOMICS / Finance bisacsh Exports fast Foreign exchange rates fast Monetary policy fast |
title | Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / |
title_auth | Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / |
title_exact_search | Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / |
title_full | Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / by Slavi T. Slavov. |
title_fullStr | Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / by Slavi T. Slavov. |
title_full_unstemmed | Exchange rate regimes in Central, Eastern and Southeastern Europe : a euro bloc and a dollar bloc / by Slavi T. Slavov. |
title_short | Exchange rate regimes in Central, Eastern and Southeastern Europe : |
title_sort | exchange rate regimes in central eastern and southeastern europe a euro bloc and a dollar bloc |
title_sub | a euro bloc and a dollar bloc / |
topic | Foreign exchange rates Europe, Central. Monetary policy Europe. Exports Europe, Eastern. Taux de change Europe centrale. Politique monétaire Europe. Exportations Europe de l'Est. BUSINESS & ECONOMICS / Finance bisacsh Exports fast Foreign exchange rates fast Monetary policy fast |
topic_facet | Foreign exchange rates Europe, Central. Monetary policy Europe. Exports Europe, Eastern. Taux de change Europe centrale. Politique monétaire Europe. Exportations Europe de l'Est. BUSINESS & ECONOMICS / Finance Exports Foreign exchange rates Monetary policy Europe Central Europe Eastern Europe |
url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1505067 |
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