Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39630
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dc.contributor.authorOrlowski, Lucjan T.en_US
dc.date.accessioned2010-09-01T09:48:59Z-
dc.date.available2010-09-01T09:48:59Z-
dc.date.issued2004en_US
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.-
dc.language.isoengen_US
dc.publisher|aZEI |cBonnen_US
dc.relation.ispartofseries|aZEI working paper |xB 05-2004en_US
dc.subject.jelE42-
dc.subject.jelE52-
dc.subject.jelF36-
dc.subject.jelP24-
dc.subject.ddc330en_US
dc.subject.keywordcommon currency system-
dc.subject.keywordeurozone-
dc.subject.keywordmonetary convergence-
dc.subject.keywordmoney growth rules-
dc.subject.keywordinflation targeting-
dc.titleMoney rules for the eurozone candidate countriesen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn388855770en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zeiwps:B052004-

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