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ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn >
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http://hdl.handle.net/10419/39474
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| Title: | | Monetary convergence and risk premiums in the EU candidate countries  |
| Authors: | | Orlowski, Lucjan T. |
| Issue Date: | | 2002 |
| Series/Report no.: | | ZEI working paper B 26-2002 |
| Abstract: | | 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. |
| Subjects: | | inflation risk premium exchange rate risk premium inflation targeting monetary convergence transition economies |
| JEL: | | E32 E52 P33 |
| Document Type: | | Working Paper |
| Appears in Collections: | | ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn
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