Real Convergence in Central, Eastern and South-Eastern Europe PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Real Convergence in Central, Eastern and South-Eastern Europe PDF full book. Access full book title Real Convergence in Central, Eastern and South-Eastern Europe by R. Martin. Download full books in PDF and EPUB format.
Author: R. Martin
Publisher: Springer
ISBN: 0230235433
Category : Business & Economics
Languages : en
Pages : 221
Get Book Here
Book Description
This book brings together policymakers, high-level practitioners, academics, and experts from central banks and international institutions in order to review key policy challenges for convergence in the region of central, eastern and south-eastern Europe. Contributions focus especially on inflation, growth, migration and the balance of payments.
Author: R. Martin
Publisher: Springer
ISBN: 0230235433
Category : Business & Economics
Languages : en
Pages : 221
Get Book Here
Book Description
This book brings together policymakers, high-level practitioners, academics, and experts from central banks and international institutions in order to review key policy challenges for convergence in the region of central, eastern and south-eastern Europe. Contributions focus especially on inflation, growth, migration and the balance of payments.
Author: Mr.Tomás Holub
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451854725
Category : Business & Economics
Languages : en
Pages : 0
Get Book Here
Book Description
The paper assesses inflation risks resulting from the convergence of structures of relative prices in Central and Eastern European (CEE) countries toward the European Union (EU). The basic idea of the paper is that under low downward flexibility of domestic nominal prices, the adjustment of relative price structures is likely to lead to higher inflation. The authors find that the degree of differences in the structures of relative prices in transition economies vis-à-vis EU economies has a strong negative relationship to price levels in the transition economies. Based on their calculations, the authors assess the likely future inflationary pressures that can stem from the remaining differences between the structures of relative prices in the CEE economies and the EU. The authors argue that their approach can be thought of as an extension of the standard Balassa-Samuelson explanation of international variability in price levels.
Author: Miroslav Beblavý
Publisher: Routledge
ISBN: 1134138997
Category : Business & Economics
Languages : en
Pages : 253
Get Book Here
Book Description
Miroslav Beblav an experienced policy maker, examines monetary policy and monetary institutions in Eastern European and looks at monetary policy, more generally, in less developed, but highly open and financially integrated market economies.
Author: Ms.Sharmini Coorey
Publisher: International Monetary Fund
ISBN: 1451930062
Category : Business & Economics
Languages : en
Pages : 98
Get Book Here
Book Description
In light of the persistence of moderate inflation in many transition economies, this paper analyzes whether inflation resulted from insufficiently tight financial policies and wage pressures or from the protracted adjustment of relative prices. Using a new database for 21 countries, the effect of relative price variability on inflation is estimated within a framework controlling for nominal and real shocks. Money and wage growth were the most important determinants of inflation; relative price variability had a sizable effect at high inflation during initial liberalization and a small effect at moderate inflation. Cost recovery may contribute to variability, particularly in the advanced stages of the transition.
Author: Mr.Jeffrey R. Franks
Publisher: International Monetary Fund
ISBN: 1484338499
Category : Business & Economics
Languages : en
Pages : 47
Get Book Here
Book Description
We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
Author: Mr.Ruben Atoyan
Publisher: International Monetary Fund
ISBN: 1498367453
Category : Social Science
Languages : en
Pages : 48
Get Book Here
Book Description
This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries’ growth and income convergence to advanced Europe. While emigration has likely benefited migrants themselves, the receiving countries and the EU as a whole, its impact on sending countries’ economies has been largely negative. The analysis suggests that labor outflows, particularly of skilled workers, lowered productivity growth, pushed up wages, and slowed growth and income convergence. At the same time, while remittance inflows supported financial deepening, consumption and investment in some countries, they also reduced incentives to work and led to exchange rate appreciations, eroding competiveness. The departure of the young also added to the fiscal pressures of already aging populations in Eastern Europe. The paper concludes with policy recommendations for sending countries to mitigate the negative impact of emigration on their economies, and the EU-wide initiatives that could support these efforts.
Author: Mr. Serhan Cevik
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 17
Get Book Here
Book Description
The post-pandemic rise in consumer prices across the world has renewed interest in inflation dynamics after decades of global disinflation. This paper provides a spatial investigation of inflation synchronicity at the city level in Lithuania using disaggregated monthly data during the period 2000–2021. The empirical analysis provides strong evidence that (i) the co-movement of city-level inflation rates—estimated using the instantaneous quasi-correlation approach—is significantly weaker than the extent of synchronization suggested by the simple correlation analysis; (ii) there is substantial heterogeneity in the instantaneous quasi-correlation of inflation subcomponents between city pairs; and (iii) there are significant changes in the degree of city-level synchronization over time, reflecting important economic developments in history such as the global financial crisis, the adoption of euro, and the COVID-19 pandemic.
Author: Ms.Susan Schadler
Publisher: International Monetary Fund
ISBN: 9781589063709
Category : Business & Economics
Languages : en
Pages : 222
Get Book Here
Book Description
Eight central and eastern European countries--the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak Republic, and Slovenia--officially joined the European Union (EU) in May 2004. This auspicious milestone marked the beginning of the next major step for these countries in their move toward full integration with the EU-adoption of the euro. Seeking to consider the opportunities and challenges of euro adoption, the papers in this volume--by a noted group of country officials, academics, representatives of international institutions, and market participants-offer insight on the various dimensions of euro adoption in these eight new EU members--how they should prepare, whether an early move is optimal, and what pitfalls may occur along the way.
Author: Amalia Morales Zumaquero
Publisher: Nova Publishers
ISBN: 9781594549014
Category : Business & Economics
Languages : en
Pages : 426
Get Book Here
Book Description
The international macroeconomics area has experienced substantial growth over the past decade. The goal of this volume is to present the most important developments in the international macroeconomics field in recent years. The literature in this area has evolved mainly in four directions that constitute the four parts of this book. In particular, Part I focuses on the purchasing power parity (PPP) puzzle, Part II presents papers that try to explain the behaviour of nominal and real exchange rates, Part III covers the financial crises, currency crises and contagion recent literature and, finally, the behaviour of exchange rates, inflation and output convergence in Central and Eastern European transition economies are considered in Part IV.
Author: R. Matousek
Publisher: Springer
ISBN: 0230302211
Category : Business & Economics
Languages : en
Pages : 299
Get Book Here
Book Description
This book provides a deep insight into the market changes and policy challenges that transition economies have undergone in the last twenty years. It not only comments on and evaluates the development of financial markets in transition economies, but also highlights the key obstacles to full integration of financial markets into the EU market.
