Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 89
... domestic currency and avert crisis situations , there is no free lunch as to the reaping of such benefits . Experience in HK and other economies practising currency board system demonstrated that the stabilisation effect of currency ...
... domestic currency and avert crisis situations , there is no free lunch as to the reaping of such benefits . Experience in HK and other economies practising currency board system demonstrated that the stabilisation effect of currency ...
Page 112
... domestic demand and keeping domestic economy form " overshooting " . The roll of fiscal policy became crucial in 1997- mid 1998. By spring 1997 current account deficits exceeded 14 % of GDP and the domestic credit growth was over 70 ...
... domestic demand and keeping domestic economy form " overshooting " . The roll of fiscal policy became crucial in 1997- mid 1998. By spring 1997 current account deficits exceeded 14 % of GDP and the domestic credit growth was over 70 ...
Page 133
... domestic liabilities by reserve assets , which domestic liabilities are to be backed , the nature of foreign assets eligible for coverage , the organisational set - up and the institution responsible for changing the parity . One ...
... domestic liabilities by reserve assets , which domestic liabilities are to be backed , the nature of foreign assets eligible for coverage , the organisational set - up and the institution responsible for changing the parity . One ...
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accession countries adjustment adopt the euro anchor currency assets average Bank of Estonia Bank of Lithuania banking sector banking system budget Bulgaria candidate countries capital movements cent central bank commercial banks competitiveness credibility currency board arrangement currency board system Currency Commission current account deficit debt Directorate domestic Economic and Financial Economic and Monetary economic policy EMU acquis ERMII Estonian kroon Estonian monetary euro area European Commission European Union exchange rate policy exchange rate regime exports Financial Affairs financial markets financial sector fiscal policy fixed exchange rate flexibility foreign exchange framework growth Hong Kong Honohan implementation important increase inflation integration interbank interest rates investment Irish pound joining the euro liquidity litas macroeconomic Member monetary policy monetary system Monetary Union money market nominal participation payments percent period real exchange rate reserve requirement Russian crisis seigniorage stabilisation trade transition economies wages