Horváth, Roman; Koprnická, Kamila - 2008
states vis-à-vis the euro area in 1997-2007. Our main results are as follows. Exchange rate appreciation and higher price … level in the new EU members is associated with narrower inflation differential vis-à-vis the euro area, while fiscal deficit …% below the euro area average is likely to exhibit inflation nearly one percentage point above the euro area. Overall, our …