Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 20
Brussels, 25 November 1999 : Summary of Proceedings and Papers. A currency board combines four elements : a fixed exchange rate peg to an anchor currency ; automatic convertibility ( that is , the right to exchange domestic currency at ...
Brussels, 25 November 1999 : Summary of Proceedings and Papers. A currency board combines four elements : a fixed exchange rate peg to an anchor currency ; automatic convertibility ( that is , the right to exchange domestic currency at ...
Page 103
... anchor currency because of Germany's credible monetary policy and its central role in the EU , by now the largest ... currency peg was considered more transparent than multicurrency peg . Estonia's choice of the CB arrangement reflected ...
... anchor currency because of Germany's credible monetary policy and its central role in the EU , by now the largest ... currency peg was considered more transparent than multicurrency peg . Estonia's choice of the CB arrangement reflected ...
Page 133
... currency board A currency board is an organisation that legally guarantees to redeem on demand the local currency against another " anchor " or reserve currency at a fixed rate . However , although they share many characteristics , currency ...
... currency board A currency board is an organisation that legally guarantees to redeem on demand the local currency against another " anchor " or reserve currency at a fixed rate . However , although they share many characteristics , currency ...
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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 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