Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/47595 
Year of Publication: 
2003
Series/Report no.: 
Tübinger Diskussionsbeiträge No. 269
Publisher: 
Eberhard Karls Universität Tübingen, Wirtschaftswissenschaftliche Fakultät, Tübingen
Abstract: 
The IMF classifications of the Central and Eastern European exchange rate arrangements are heterogeneous. While one group of countries reports tight pegs to the euro, a second group seems to have moved toward (more) exchange rate flexibility. Based on the recent discussion about the accuracy of IMF exchange rate arrangement classifications, low- and highfrequency exchange rate stability in Central and Eastern Europe is explored here. In this paper we find that de facto exchange rate stabilization is much more prevalent in Central and Eastern Europe than suggested by de jure exchange rate classifications. Most of the CEE countries peg their currencies to the euro, thereby contributing to a growing euro zone. Nevertheless, as exchange rate stabilization against the euro is pursued with different degrees and with different long-term drifts, intra-regional exchange rates are still far from being unified.
Subjects: 
Foreign Exchange Policy
EMU
Euro Zone
Central and Eastern Europe
JEL: 
F31
F33
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
382.53 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.