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dc.contributor.authorOrlowski, Lucjan T.en
dc.date.accessioned2010-09-01T09:48:59Z-
dc.date.available2010-09-01T09:48:59Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/39630-
dc.description.abstractThis study proposes the adoption of money growth rules as indicator variables of monetarypolicies by the countries converging to a common currency system, in particular, by theeurozone candidate countries. The analytical framework assumes an inflation target as theultimate policy goal. The converging countries act in essence as “takers” of the inflationtarget, which, in this case, is the eurozone’s inflation forecast. The study advances a forwardlookingmoney growth model that might be applied to aid monetary convergence to theeurozone. However, feasibility of adopting money growth rules depends on stablerelationships between money and target variables, which are low inflation and stableexchange rate. Long-run interactions between these variables are examined for Poland,Hungary and the Czech Republic by employing a Johansen cointegration test, along withshort-run effects assessed with a vector error correction procedure.en
dc.language.isoengen
dc.publisher|aRheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI) |cBonnen
dc.relation.ispartofseries|aZEI Working Paper |xB 05-2004en
dc.subject.jelE42en
dc.subject.jelE52en
dc.subject.jelF36en
dc.subject.jelP24en
dc.subject.ddc330en
dc.subject.keywordcommon currency systemen
dc.subject.keywordeurozoneen
dc.subject.keywordmonetary convergenceen
dc.subject.keywordmoney growth rulesen
dc.subject.keywordinflation targetingen
dc.titleMoney rules for the eurozone candidate countries-
dc.type|aWorking Paperen
dc.identifier.ppn388855770en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zeiwps:B052004en

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