Looking Forward Towards the ERM II Central Parity: The Case of Poland

Jakub Borowski, Anna Czogala and Adam Czyzewski

Economie Internationale, 2005, issue 102, 9-31

Abstract: This paper addresses issues related to the choice of the central parity for Poland’s prospective ERM II membership. It discusses the relevance of different concepts of equilibrium exchange rate in the determination of the central parity and, on the basis of recent studies, it provides a tentative assessment of the equilibrium exchange rate of the Polish zloty. Risks resulting from a potential exchange rate misalignment are also analysed. Finally, in the context of the choice of the central parity, the paper gives insights into developments in the Polish labour market and factors behind the persistently high unemployment rate.

Keywords: exchange rate; euro area; labor market; zloty; ERM II; Poland (search for similar items in EconPapers)
JEL-codes: E58 F33 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:cii:cepiei:2005-2ta

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