Nominal Convergence

Working Papers of National Institute for Economic Research from Institutul National de Cercetari Economice (INCE)

Abstract: After presenting the institutional construction during the pre-accession and post-accession to the Economic and Monetary Union (EMU), the exchange rate mechanisms (ERM) in several countries and the convergence criteria, we go on with a brief analysis of the way the CEE countries cope with the convergence criteria in accordance with the Maastricht Treaty. Then, the study deals with a topic often discussed in the scientific literature and included on the agenda of decision-makers at various levels, in order to clarify the following major issues: a shorter transition to the euro, the exchange rate equilibrium versus the inflation rate diminution and the Balassa-Samuelson effect, the exchange rates and the exchange rate deviation index, evidences concerning the real exchange rate equilibrium and the appreciation of the exchange rate in the CEE countries.

Keywords: Convergence criteria; exchange rate; exchange rate mechanisms; Euro Area; Balassa-Samuelson effect; tradable goods; non-tradable goods; exchange rate deviation index; purchasing power parity (search for similar items in EconPapers)
JEL-codes: F31 F33 O43 O47 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2009-06
New Economics Papers: this item is included in nep-cba, nep-ifn, nep-mon, nep-opm and nep-tra
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Nominal Convergence (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ror:wpince:090602

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