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Exchange Rate Regimes and Poland's Participation in ERM II

Jakub Borowski, Michal Brzoza-Brzezina and Piotr Szpunar
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Piotr Szpunar: National Bank of Poland

Macroeconomics from University Library of Munich, Germany

Abstract: In this paper we address some of the issues resulting from Poland's will to join the Economic and Monetary Union. Our attention focuses on topics related to the possibly soon entry into the European exchange rate mechanism (ERM II). We consider the possible paths of entering the system, providing a detailed analysis of the choice of fluctuation margins and the central parity. Further, we analyze the possible monetary policy strategies within the system. We describe the benefits and drawbacks of ERM II participation and consider the eventuality of parity revaluation. In this part estimates of the Balassa-Samuelson effect for Poland are provided.

Keywords: Transition economies; Poland; ERM II; Balassa-Samuelson effect; equilibrium exchange rate (search for similar items in EconPapers)
JEL-codes: E F (search for similar items in EconPapers)
Date: 2003-02-04
New Economics Papers: this item is included in nep-eec, nep-fin, nep-ifn, nep-mac, nep-mon, nep-pke and nep-tra
Note: Type of Document - PDF; prepared on IBM PC ; to print on HP;
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0302002

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