Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 15
... exchange rate policy , the adjustment mechanisms are fiscal policy and ... exchange rate system is deemed appropriate such as small , open economies with ... real exchange rate at an appropriate level . • During the transition and ...
... exchange rate policy , the adjustment mechanisms are fiscal policy and ... exchange rate system is deemed appropriate such as small , open economies with ... real exchange rate at an appropriate level . • During the transition and ...
Page 28
... real exchange rate to appreciate as a result of faster productivity growth in the traded goods sector than in the nontraded goods sector ) and by allowing the nominal exchange rate to ... exchange rate is fixed , other prices adjust to 27 1.
... real exchange rate to appreciate as a result of faster productivity growth in the traded goods sector than in the nontraded goods sector ) and by allowing the nominal exchange rate to ... exchange rate is fixed , other prices adjust to 27 1.
Page 136
... real effective exchange rate takes into consideration the trade pattern of Estonia . According to data from the Bank of Estonia , the real effective exchange rate of the Estonian Kroon has continuously increased since 1992 , by as much ...
... real effective exchange rate takes into consideration the trade pattern of Estonia . According to data from the Bank of Estonia , the real effective exchange rate of the Estonian Kroon has continuously increased since 1992 , by as much ...
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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