Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 62
... Interest rates A long time series of interest rates ( drawn from Honohan and Conroy , 1994 ) is plotted in Figure 3. Although the point can be overstated , all authorities agree that , during this period , Irish interest rates were ...
... Interest rates A long time series of interest rates ( drawn from Honohan and Conroy , 1994 ) is plotted in Figure 3. Although the point can be overstated , all authorities agree that , during this period , Irish interest rates were ...
Page 103
... interest rates . As an indicator of credibility of CB , short - term interest rate differentials between domestic currency and anchor currency have been low ( 1-2 percentage points ) . However , due to a higher inflation level and a ...
... interest rates . As an indicator of credibility of CB , short - term interest rate differentials between domestic currency and anchor currency have been low ( 1-2 percentage points ) . However , due to a higher inflation level and a ...
Page 115
... prices , the post - Russian - crisis external demand has not recovered its original volume and the pressure of the demand - supply balancing adjustment continued . The decreasing loan stock and high real interest rates in the monetary ...
... prices , the post - Russian - crisis external demand has not recovered its original volume and the pressure of the demand - supply balancing adjustment continued . The decreasing loan stock and high real interest rates in the monetary ...
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accession achieved acquis activities adjustment adoption assets authorities average backing Bank of Estonia Bank of Lithuania base budget capital central bank Commission competitiveness convergence countries credibility crisis currency board currency board arrangement currency board system debt deficit Directorate domestic economic economic policy effect euro European experience exports external Figure financial markets fixed exchange rate flexibility foreign framework Fund growth implementation important increase independence inflation institutions integration interest interest rates introduction investment Ireland Irish issue joining kroon labour liquidity loss measures Member monetary policy movements nominal notes operations participation particular performance period present productivity recent reforms relative remained Report reserves result sector securities shocks stability sterling strong structure trade transition Union wages