Arbeitspapier
Monetary convergence and risk premiums in the EU candidate countries
This study examines the link between various monetary policy regimes and the ability to manage inflation and exchange rate risk premiums in the EU candidate countries as they undergo monetary convergence to the eurozone. The underlying hypothesis is that a system of 'flexible inflation targeting' may be an optimal policy choice for managing these two categories of risk. A model of inflation and exchange rate risk premiums within the context of inflation targeting is proposed. Recent trends in these risk premiums in Hungary, the Czech Republic and Poland are tested by using the GARCH (1,1) methodology.
- Language
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Englisch
- Bibliographic citation
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Series: ZEI Working Paper ; No. B 26-2002
- Classification
-
Wirtschaft
Business Fluctuations; Cycles
Monetary Policy
Socialist Institutions and Their Transitions: International Trade, Finance, Investment, Relations, and Aid
- Subject
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inflation risk premium
exchange rate risk premium
inflation targeting
monetary convergence
transition economies
Geldpolitik
Internationale wirtschaftspolitische Koordination
EU-Erweiterung
Europäische Wirtschafts- und Währungsunion
Inflatio
- Event
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Geistige Schöpfung
- (who)
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Orlowski, Lucjan T.
- Event
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Veröffentlichung
- (who)
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Rheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI)
- (where)
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Bonn
- (when)
-
2002
- Handle
- Last update
- 10.03.2025, 11:44 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Orlowski, Lucjan T.
- Rheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI)
Time of origin
- 2002
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The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries.
Sovereign Bond Risk Premiums
Global bond risk premiums
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Real and monetary convergence within the European Union and between the European Union and candidate countries: A rolling cointegration approach
A Dynamic Approach to Interest Rate Convergence in Selected Euro-candidate Countries
A dynamic approach to interest rate convergence in selected Euro-candidate countries
Real convergence and the determinants of growth in EU candidate and potential candidate countries - a panel data approach
Risk Premiums in NIBOR and Other Countries' Interbank Lending Rates
Multicountry Time-Varying Taylor Rule: Modeling Unconventional Monetary Policies and Bond Premiums
The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries.
Sovereign Bond Risk Premiums