Crespo Cuaresma, Jesús (contributor); … - 2003 - [Elektronische Ressource]
fulfillment of the inflation criterion. In contrast, overvalued exchange rates are
likely to have deleterious effects on the …
scenario for monetary policy if we keep the equilibrium exchange rates exactly
constant.
19
Figure 1: Equilibrium … homogeneous exchange rate regime. The official changes took place in 1997
in the Czech Republic, in 1998 in Slovakia and in 2000 …