Chapter
EXCHANGE RATE REGIMES IN CESEE: EVOLUTION, PERFORMANCE, RATIONALE
A Short History of Monetary and Exchange Rate Regimes in CESEE
How Have Monetary and Exchange Rate Regimes Performed?
Alignment of Monetary Conditions
The Boom-Bust Recovery-Cycle of 2003–15: A Monetary Interpretation
Implications beyond Macroeconomic Volatility
Obstacles to Exchange Rate Flexibility
Financial Euroization and Fear of Floating
Why Are Financial Systems Euroized?
MONETARY STRATEGIES FOR CESEE ECONOMIES
Sticking to Fixed Exchange Rate Regimes: The “Baltic Path”
Options to Enhance Macroeconomic Performance under Fixed Exchange Rate Regimes
Moving to Flexible Exchange Rate Regimes: What Does It Take?
Establishing a Credible Domestic Monetary Anchor
Regulatory and Structural Policies
1. Evolution of Exchange Rate Regimes
2. Exchange Rate Flexibility in CESEE
3. Effective Exchange Rate Flexibility and Hyperinflation during Transition
4. Consumer Price Inflation, 1996–2016
5. Macroeconomic Volatility and Exchange Rate Regime, 2003–14
6. Monetary Conditions, 2003–14
7. Monetary Conditions and Economic Activity, 2003–14
8. Alternative Explanations
9. Implications beyond Macroeconomic Volatility
10. Nonmonetary Objectives
11: Financial Euroization
12. Determinants of Deposit Euroization
13. The Baltics vs. Other Countries with Fixed Exchange Rates
1. Transition from Socialism and Emerging Europe’s Legacy of Hyperinflation
2. The Calvo-Reinhart "Fear of Floating" Index
3. Albania’s Monetary Framework
4. The Minimum Portfolio Variance Approach
5. The Baltic Path to Euro Adoption
6. De-dollarization of Bank Deposits: Successful Cases
7. Serbia’s Dinarization Strategy
8. Central Bank Survey on De-euroization Policies
Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe
Disclaimer: Any content in publications that violate the sovereignty, the constitution or regulations of the PRC is not accepted or approved by CNPIEC.