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Transition economy convergence in a two-country model: implications for monetary integration

Bruha, Jan; Podpiera, Jirí - 2007

In this paper we present a two-country dynamic general equilibrium model of ex ante unequally developed countries. The model explains a key feature recently observed in transition economies – the long-run trend real exchange rate appreciation – through investments into quality. Our...

Persistent link: https://www.econbiz.de/10011604786

The Convergence of a Transition Economy: The Case of the Czech Republic

Bruha, Jan; Podpiera, Jiri; Polak, Stanislav - Česká Národní Banka - 2007

In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. The modelâ€™s novel feature is the inclusion of quality investment to the standard framework of applied general...

Persistent link: https://www.econbiz.de/10005405568

Inquiries on dynamics of transition economy convergence in a two-country model

Bruha, Jan; Podpiera, Jirí - 2007

particular emphasis on the impact of productivity convergence and effects of timing of trade and financial liberalization on the … convergence patterns. We compare the mechanisms behind the three investment margins (horizontal investment to new varieties …

Persistent link: https://www.econbiz.de/10011604837

Inquiries on dynamics of transition economy convergence in a two-country model

Bruha, Jan; Podpiera, Jirí - European Central Bank - 2007

Persistent link: https://www.econbiz.de/10005816263

European monetary policy in the heterogeneous currency area and the open question of convergence

Afflatet, Nicolas - 2014 - Preprint

member countries. On the one hand, (partially small) hints for convergence can be found for several countries. On the other …

Persistent link: https://www.econbiz.de/10010358677

Real and monetary policy convergence : EMU crisis to the CFA Zone

Asongu, Simplice A. - 2012

. We also provide the speed of convergence and time required to achieve a 100% convergence. Findings - But for financial … intermediary size within the CFA zone, findings for the most part support only unconditional convergence. There is no form of … convergence within the CEMAC zone. Practical implications - The broad insignificance of conditional convergence results have …

Persistent link: https://www.econbiz.de/10011410050

Are proposed African monetary unions optimal currency areas? : real, monetary and fiscal policy convergence analysis

Asongu, Simplice A. - 2012

fiscal policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East … Africa is facing stiff challenges in the timing of monetary convergence, the imperative of central bankers to apply common … panel GMM estimation with data from different non-overlapping intervals is employed. The implied rate of convergence and the …

Persistent link: https://www.econbiz.de/10011410252

Are proposed African monetary unions optimal currency areas? : real and monetary policy convergence analysis

Asongu, Simplice A. - 2012

policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East Africa is … facing stiff challenges in the timing of monetary convergence, the imperative of bankers to apply common modeling and … at macro and micro levels. Findings - Findings suggest overwhelming lack of convergence: (1) initial conditions for …

Persistent link: https://www.econbiz.de/10011410263

Taylor rules for CEE-EU countries : how much heterogeneity?

Sydykova, Meerim; Stadtmann, Georg - 2015

We derive Taylor rates for those CEE-EU countries which are not part of the Eurozone. The degree of heterogeneity decreased tremendously over time (2005 - 2015). Nevertheless, the business cycles are still not fully synchronized. As a consequence, joining the Eurozone seems to be premature and...

Persistent link: https://www.econbiz.de/10011385213

OCA indexes and convergence process in Europe

Frydrych, Jakub; Burian, Stanislav - In: Scientific Annals of Economics and Business 64 (2017) 2, pp. 187-197

Persistent link: https://www.econbiz.de/10011865986