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In the new member states of the EU which have not yet adopted the euro, previous adoption strategies have come under scrutiny. The spillovers and contagion from the global financial crisis revealed a new threat to the countries’ real convergence goal, namely considerable vulnerability to the...
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Based on the experience of the Bank of Albania, the paper proposes a framework to estimate the interest rate lower …
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is derived from the experience of Albania. The paper is the first attempt to provide an empirical measure of the optimal … level of euroization. The results indicate that euroization is trending above the estimated measure in Albania, calling for …
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interest rates in Albania during 1993–97. The estimated parsimonious error correction model extends the findings of a growing …
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