After accession to the European Union, new member countries have to decide the optimal path to the adoption of the euro. Some have argued that the euro should be adopted only when a sufficient degree of real convergence has been achieved. The idea is that real exchange rates will be affected by...

This paper surveys recent advances in empirical studies of the monetary transmission mechanism (MTM), with special attention to Central and Eastern Europe. In particular, while laying out the functioning of the separate channels in the MTM, it explores possible interrelations between different...

[eng] Exchange Rate Pass-Through in Accession Countries . by Fabrizio Coricelli , Boštjan Jazbec and Igor Masten . This paper analyzes the link between the choice of exchange rate regime and inflationary performance in four EU accession countries : the Czech Republic , Hungary , Poland and...

In this Paper we analyse the link between the choice of exchange rate regime and inflationary performance in four EU accession countries: the Czech Republic, Hungary, Poland and Slovenia. Estimation of pass-through effect of exchange rate changes to CPI inflation is complemented by I(2)...

This paper analyzes the link between the choice of exchange rate regime and inflationary performance in countries acceding to the EU. Estimation of pass-through effect of exchange rate changes to CPI inflation is complemented by I(2) cointegration analysis of stochastic nominal trends. The...

This papers provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing "normal times" from...

Using both macro- and industry-level data this paper analyses the non-linear effects of financial development and international financial integration on economic growth in Europe. Special attention is devoted to modeling threshold effects with respect to the depth of financial markets as a...