Certains pays sont passés progressivement et en douceur de la fixité à la flexibilité en adoptant des régimes de change intermédiaires—ancrage souple, bandes horizontales et glissan Si la trans En millions de dollars des États-Unis Australie Les administrateurs électifs sont élus par les suffrages des gouverneurs admis à voter.
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Lucia St. Public Health Health Policy. Nordic Council of Ministers. Search within results. Book Journal Issue Chapters and Articles First, a bivariate VAR, including the real effective exchange rate REER and inflation, is tested not only for Hungary and Poland, but also for the Czech Republic, over the time-period, which excludes the early transition years.
Second, industrial production and the nominal interest rate are incorporated in a multivariate VAR to investigate the effects of policy shocks on the exchange rate. This helps to illustrate the possible gains and costs of the present exchange-rate regime in these CEECs and to draw some conclusions on the likely economic outcomes of adopting a firmly fixed exchange-rate regime like ERM II.
Three main conclusions emerge: 1 contrary to Dibooglu and Kutanresults testify to a high degree of flexibility in the CPI; 2 in contrast to the Czech Republic and Hungary, nominal shocks have a strong effect on the REER in Poland and, more specifically, there is evidence that the fluctuations in the nominal exchange rate explain a large part of REER fluctuations in this latter country; 3 in Poland, the policy mix seems more credible than in the other two countries.
Exchange rate regime poland
Document type : Journal articles. Citation Jérôme Creel, Sandrine Levasseur. The cases of the Czech Republic, Hungary and Poland.