Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 11
... macroeconomic stability with robust output and export growth ; if flexibility of the exchange rate is chosen in the ERMII , the short period of time before the final adoption of the euro ( about two years ) might not allow the exchange ...
... macroeconomic stability with robust output and export growth ; if flexibility of the exchange rate is chosen in the ERMII , the short period of time before the final adoption of the euro ( about two years ) might not allow the exchange ...
Page 30
... macroeconomic imbalances . Moreover , the magnitudes need not be large . A substantial portion of this relative price adjustment has already taken place , and much of the initially very substantial undervaluation of the currencies in ...
... macroeconomic imbalances . Moreover , the magnitudes need not be large . A substantial portion of this relative price adjustment has already taken place , and much of the initially very substantial undervaluation of the currencies in ...
Page 91
... macroeconomic parameters have determined the nature of monetary and exchange rate policy developed by the Bank of Lithuania . Maintaining a stable exchange rate of the national currency against the major foreign currencies has become ...
... macroeconomic parameters have determined the nature of monetary and exchange rate policy developed by the Bank of Lithuania . Maintaining a stable exchange rate of the national currency against the major foreign currencies has become ...
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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