@techreport{Orlowski2001Monetary,
abstract = {A flexible approach to direct inflation targeting is a viable monetary policy
choice for transition economies that is believed to facilitate both the economic transition
and the monetary convergence to the euro. Following this assumption, an analytical
model investigating the link between the inflation process and monetary variables in
transition economies is advanced in this study. The empirical testing is conducted for
Poland, the Czech Republic and Hungary. The analysis recommends that the monetary
convergence begins with inflation targeting and concludes with a full-fledged
euroization. It further advocates the application of flexible benchmarks of monetary
convergence that would accommodate various non-monetary factors affecting inflation in
transition economies.},
address = {Bonn},
author = {Lucjan T. Orlowski},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E32; E52; P33; 330; Geldpolitik; Internationale wirtschaftspolitische Koordination; EU-Erweiterung; Europ\"{a}ische Wirtschafts- und W\"{a}hrungsunion; Inflatio},
language = {eng},
number = {B 25-2001},
publisher = {ZEI},
title = {Monetary convergence of the EU candidates to the Euro: A theoretical framework and policy implications},
type = {ZEI working paper},
url = {http://hdl.handle.net/10419/39534},
year = {2001}
}
