Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39499
Authors: 
Horvath, Julius
Jonas, Jiri
Year of Publication: 
1998
Series/Report no.: 
ZEI working paper B 11-1998
Abstract: 
In this paper we re-examine the experience of the Czech Republic with the exchange rate regime during the period 1990-97. We review arguments for and against choosing a peg as they appeared in the early 1990s. Then, we evaluate the success of the peg in curbing inflationary pressures stemming from price liberalization. We also show some of its unpleasant consequences. In the second part of the paper we discuss the macroecononomic precedents which most likely led to the abandoning of the peg in May 1997. Finally, we present some thoughts on possible exchange rate developments, especially with respect to a potential future membership in the European Monetary Union.
Document Type: 
Working Paper

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