Measuring Nominal and Real Convergence of Selected CEE Countries by the Taylor Rule

Böing Tobias (), Stadtmann Georg () and Sydykova Meerim ()
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Böing Tobias: Department of Economics, Europa-Universität Viadrina, Germany
Stadtmann Georg: Department of Business and Economics, University of Southern Denmark, Denmark; Department of Economics, Europa-Universität Viadrina, Germany
Sydykova Meerim: Department of Economics, Europa-Universität Viadrina, Germany

International Journal of Management and Economics, 2016, vol. 52, issue 1, 9-22

Abstract: We propose using a simple Taylor rule to evaluate business cycle convergence of the Czech Republic, Hungary, and Poland with the Eurozone. Our findings indicate an ongoing convergence of those CEE countries to the Eurozone, but with instabilities and heterogeneity between the countries. Especially Poland has shown a high degree of convergence in recent years. But there are still relevant differences in Taylor rates of each country to the Eurozone of about two percentage points.

Keywords: CEE; monetary policy; currency union; convergence; Taylor rule (search for similar items in EconPapers)
JEL-codes: E52 E58 F15 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ijomae:v:52:y:2016:i:1:p:9-22:n:2

DOI: 10.1515/ijme-2016-0024

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