The processes that will drive the next stage of the Czech transition are likely to be similar to those promoting real convergence in the Eu cohesion countries. We draw on previous modelling research on the cohesion economies to construct and calibrate a small macrosectoral model of the Czech...

The processes that will drive the next stage of the Czech transition are likely to be similar to those promoting real convergence in the countries of the EU periphery. We draw on previous modeling research on these latter economies to construct and calibrate a small macrosectoral model of the...

The processes that will drive the next stage of the Czech transition are likely to be similar to those promoting real convergence in the EU cohesion countries. We draw on previous modelling research on the cohesion economies to construct and calibrate a small macrosectoral model of the Czech...

There are a number of factors that are generally agreed to have a role to play in the story of Ireland's recent success. These include the long-term consequences of the fiscal stabilisation of the late 1980s, the European Structural Funds, the increased educational attainment of the workforce,...

In Irish manufacturing, the foreign sector accounts for about one half of employment and some 60 percent of gross output. The Irish experience therefore provides the authors with a textbook case study of the effects on an EU host economy of export-oriented foreign direct investment (FDI). They...

This paper introduces a strategy for modeling the exchange rate when the monetary authority targets inflation while also managing the exchange rate using interventions. It does so in the framework of a standard reduced-form New Keynesian model of monetary transmission used in many institutions...

The Euro and Economic Stability assesses the euro area’s merits as a shelter and the merits of euro assets as a safe haven and reviews the case for rapid euro adoption from a post-crisis view. Policymakers and economists provide relevant lessons from euro area divergences for future euro...

We address the question of exchange rate regime for the Czech Republic before it enters the EU and the EMU. We classify macroeconomic impacts of a single currency regime according to the traditional OCA theory. Using quantitative measures, we find the degree of macroeconomic convergence between...

We address the question of the exchange rate regime for the Czech Republic before it enters the EU and the EMU. We classify the macroeconomic impacts of a single currency regime according to the traditional OCA theory. Using quantitative measures, we find the degree of macroeconomic convergence...