Exchange Rate Variability, Pressures and Optimum Currency Area Criteria: Implications for the EU New Members
| Author(s): | prof. Roman Horváth Ph.D., |
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| Type: | Others |
| Year: | 2005 |
| Number: | 0 |
| ISSN / ISBN: | |
| Published in: | Czech National Bank Research Bulletin No. 2/2006 |
| Publishing place: | Czech National Bank |
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| Abstract: | It is found that countries fulfilling the optimum currency area criteria to a lesser degree are likely to experience greater exchange rate variability and/or exchange rate pressures. As a result, given the institutional process of euro adoption, this is likely to influence their timing of ERM II entry, as the countries may be concerned about excessive exchange rate variability especially during this period. |
