Exchange rate regimes and nominal convergence in the CEECs

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dc.contributor Bank of Finland
dc.contributor.author Järvinen, Marketta
dc.date.accessioned 2014-09-22T08:00:04Z
dc.date.available 2014-09-22T08:00:04Z
dc.date.issued 2002
dc.identifier.isbn 951-686-824-X
dc.identifier.issn 1456-4564
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/8039
dc.description.abstract This paper examines, in the context of future EMU membership of the Central and Eastern European countries (CEECs), the interaction between fiscal policy and the price level in different exchange rate regimes.The theoretical framework is based on the Fiscal Theory of the Price Level (FTPL).The results show that a credibly fixed exchange rate is inconsistent with fiscal irresponsibility, while adopting the common currency enables the conduct of irresponsible policies with the result that a rise in the level of debt by one member country raises the common price level of the whole union. Key words: exchange rate regimes, inflation, fiscal theory of the price level, transition economies
dc.format.extent 41 s.
dc.language.iso eng
dc.relation.ispartofseries BOFIT Discussion Papers
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject valuuttakurssit
dc.subject inflaatio
dc.subject KIE
dc.subject finanssipolitiikka
dc.subject EMU
dc.subject valuuttapolitiikka
dc.subject hinnat
dc.subject rahaliitot
dc.subject SP
dc.subject Bofit-kokoelma
dc.title Exchange rate regimes and nominal convergence in the CEECs
dc.type Sarjajulkaisu
dc.identifier.urn URN:NBN:fi:bof-201408072035
dc.series.name BOFIT Discussion Papers
dc.series.year 2002
dc.series.number 4/2002
dc.series.sortingnumber 4
dc.date.publication 30.3.2002
dc.contributor.orgunit Institute for Economies in Transition (BOFIT)

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