This study investigates the process of price convergence in the ten new EU countries of Central and Eastern Europe. The analyses are based on panel data from 1995 to 2008 of the common currency price relative to the EU15 average. The lagged income level exhibits little explanatory power toward...

This paper examines the impact of European Union (EU) enlargement on the process of political and economic reforms in postcommunist countries. The main result is that both prospective and actual membership have advanced democratic reforms, while the effect on market-economic reforms has been...

This paper examines the empirical validity of the covered interest parity (CIP) hypothesis in the Czech Republic, Hungary, Poland, and Romania. Before the global financial crisis, CIP was mostly satisfied for the first three countries but not for Romania. During and after the crisis, deviations...