Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/78355
Authors: 
Frömmel, Michael
Schobert, Franziska
Year of Publication: 
2003
Series/Report no.: 
Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät, Universität Hannover 267
Abstract: 
We investigate official and implicit nominal anchors for six Central and Eastern European countries during 1994 to 2002. Most of these countries have moved from fixed to more flexible regimes and adopted a form of inflation targeting. Achieving their new official targets has had mixed success. Furthermore, we find some evidence for implicit exchange rate targeting. It seems to be most pronounced for Slovenia, whereas the results for Hungary and Poland match the officially announced regimes. Consequently, moving officially to more flexible arrangements does not always lead to a de facto move.
Subjects: 
Transition economies
exchange rate regimes
nominal anchors
fear of floating
exchange rate volatility
GARCH
JEL: 
F31
Document Type: 
Working Paper

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