EconPapers    
Economics at your fingertips  
 

Monetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU

Paul Masson ()

No 99/5, IMF Policy Discussion Papers from International Monetary Fund

Abstract: The more advanced Central and Eastern European Countries (CEECs) face an evolving set of considerations in choosing their exchange rate policies. On the one hand, capital mobility is increasing, and this imposes additional constraints on fixed exchange rate regimes, while trend real appreciation makes the combination of low inflation and exchange rate stability problematic. On the other hand, the objectives of EU and eventual EMU membership make attractive a peg to the euro at some stage in the transition. The paper discusses these conflicting considerations, and considers the feasibility of an alternative monetary framework, inflation targeting.

Keywords: Central and Eastern Europe; European Economic and Monetary Union; Exchange rate policy; Monetary policy; Transition economies; EMU, exchange rates, exchange rate, international monetary fund, currency board (search for similar items in EconPapers)
Date: 1999-07-01
References: Add references at CitEc
Citations: View citations in EconPapers (25) Track citations by RSS feed

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=3127 (application/pdf)

Related works:
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: https://EconPapers.repec.org/RePEc:imf:imfpdp:99/5

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Policy Discussion Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Jim Beardow ().

 
Page updated 2019-12-03
Handle: RePEc:imf:imfpdp:99/5