Designing Poland’s Macroeconomic Strategy on the Way to the Euro Area

Jakub Borowski and Michal Brzoza-Brzezina
Additional contact information
Jakub Borowski: National Bank of Poland

Macroeconomics from EconWPA

Abstract: In this paper we discuss selected aspects of Poland’s road to the euro zone. Our attention focuses on the proper design of macroeconomic policy during the accession period. We address the issue of entering ERM II, with special attention to the choice of central parity, fluctuation bands, possible revaluation of the parity and sharing the burden of interventions with the ECB. Further we concentrate on the issue of a simultaneous fulfilment of all convergence criteria. We point at the central role of fiscal austerity in providing a save framework for fulfilling the inflation, exchange rate and, obviously, the public deficit criteria. The key role of timing is accentuated.

Keywords: Transition economies; ERM II; equilibrium exchange rate (search for similar items in EconPapers)
JEL-codes: E F (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ifn, nep-mac, nep-mon, nep-reg and nep-tra
Date: 2004-04-20
Note: Type of Document - pdf; pages: 27
View list of references

Downloads: (external link)
http://129.3.20.41/eps/mac/papers/0404/0404015.pdf (application/pdf)

Related works:
Working Paper: Designing Poland's Macroeconomic Strategy on the Way to the Euro Area (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpma:0404015

Access Statistics for this paper

More papers in Macroeconomics from EconWPA
Series data maintained by EconWPA ().