Inflation Convergence in the New EU Member States from Central and Eastern Europe

Alina M. Spiru

Chapter 10 in Money, Banking and Financial Markets in Central and Eastern Europe, 2010, pp 197-228 from Palgrave Macmillan

Abstract: Abstract After becoming members of the European Union (EU), the main goal for Central and Eastern European (CEE) countries is to join the European Monetary Union (EMU) as soon as possible, given their status as members without an ‘opt out’ clause. Their EMU membership is, however, conditional on the fulfilment of the Maastricht Criteria for nominal convergence, which impose a number of benchmark values for inflation, interest rates, government deficit and public debt, and also entail exchange rate stability. These tight criteria were designed to ensure that the participation of new Member States in the EMU contributes to the stability and viability of the system.

Keywords: European Union; Unit Root; Euro Area; Inflation Rate; Unit Root Test (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-30221-1_10

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DOI: 10.1057/9780230302211_10

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