Accession to the European Union: Real Exchange Rate Dynamics for Candidate Countries

Fabrizio Coricelli and Bostjan Jazbec

Rivista di Politica Economica, 2002, vol. 92, issue 1, 109-138

Abstract: Several observers have raised the issue of whether the process of real convergence of candidate countries to income levels of EU members is compatible with the adoption of the Euro, as Maastricht criteria impose strict constraints on nominal variables. In particular, inflation should converge to the best performers in the EU, and thus for candidate countries the process of real convergence should proceed simultaneously with that of nominal convergence. We investigate this issue looking at the dynamics of real exchange rates in candidate countries and the implications for inflation dynamics, with special attention to the case of Slovenia.

JEL-codes: E42 E58 F31 F33 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (5)

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