The monetary approach to exchange rates in the CEECs created by Jesús Crespo-Cuaresma, Jarko Fidrmuc and Ronald MacDonald

By:

Fidrmuc, Jarko [author]

Contributor(s):

Material type: Text

TextSeries: Economics of transition ; Volume 13, number 2Oxford: Blackwell Publishing, 2005Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

09670750

Subject(s):

Exchange rate theory -- EU membership -- Eastern Europe

LOC classification:

HC244 ECO

Online resources:

Click here to access online

Abstract: A panel dataset for six Central and Eastern European countries (Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia) is used to estimate the monetary exchange rate model with panel cointegration methods, including the Pooled Mean Group estimator, the Fully Modified Least Square estimator and the Dynamic Least Square estimator. The monetary model is able to convincingly explain the long-run exchange rate relationships of a group of CEECs, particularly when this is supplemented by a Balassa–Samuelson effect. Our estimated long-run monetary equations are used to compute equilibrium exchange rates. Finally, we discuss the implications for the accession of selected countries to the European Economic and Monetary Union.

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HC244 ECO (Browse shelf(Opens below))	Vol. 13, no.2 (pages 395-416	SP46	Not for loan	For in house use only

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A panel dataset for six Central and Eastern European countries (Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia) is used to estimate the monetary exchange rate model with panel cointegration methods, including the Pooled Mean Group estimator, the Fully Modified Least Square estimator and the Dynamic Least Square estimator. The monetary model is able to convincingly explain the long-run exchange rate relationships of a group of CEECs, particularly when this is supplemented by a Balassa–Samuelson effect. Our estimated long-run monetary equations are used to compute equilibrium exchange rates. Finally, we discuss the implications for the accession of selected countries to the European Economic and Monetary Union.

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