Macroeconomics - Publications

László Bokor - Gábor Pellényi:
Foreign Currency Denominated Borrowing in Central Europe: Trends, Factors and Consequences
(February 2005)

The paper presents the evidence concerning the growth of foreign currency denominated borrowing in the Czech Republic, Hungary, Poland and Slovakia. Despite similar economic foundations of Visegrad Countries the significant differencies experienced in foreign currency loaning have distinct long run effects.

Gábor Pellényi:
Electricity Import Opportunities for Hungary
(December 2004)

The purpose of this paper is to investigate potential import sources in neighbouring countries to answer the following questions. Can Hungary become more reliant on electricity import? What is the impact of these imports on the Hungarian market: is their amount insignificant enough not to change prices; great enough to lower prices and trigger a healthy competition among Hungarian producers; or could it be too large resulting in the ‘crowding out' of domestic power stations?

Péter Bilek:
Bulgaria's and Romania's Progress towards EU-Accession
(December 2003)

The 2003 Country Reports differed from the earliers', because this was the last one for the now accessing countries. The earlier type of report only remained in case of Romania and Bulgaria, who have not yet closed the negotiation process. There are craggy differences between the two countries, which are summarized in this study.

Péter Bilek:
Croatia's EU Accession - When and How?
(December 2003)

The European integration process will not take an end with the 2004 enlargement, and according to the plans the integration of Romania and Bulgaria may come truth in the next round of enlargement. However, besides these two countries Croatia does it's best to be the member of the EU. The country has already submitted its request for accession, and on my opinion there is a real chance for Croatia to be EU-member in the next round. This is explained at large in the study.

Daniel Gros - Alexandr Hobza:
Exchange Rate Variability as an OCA Criterion: Are the Candidates Ripe for the Euro?
(February 2003)

Velimir Sonje:
The Impact of Unofficial Dollarization / Euroization on the Choice of Exchange Rate Regime: Lessons for EU Accession Countries
(February 2003)

Tomás Holub:
Importing Low Inflation via Pegged Exchange Rates, Currency Boards and Monetary Unions
(February 2003)

Andrius Bogdanovicius:
Lithuania's experience linking National Currency to Euro
(February 2003)

Gunther Schnabl:
The Emergence of the Euro Zone: An Informal Euro Standard as a First Step for EMU Membership of the Central and Eastern European Countries
(February 2003)

Jürgen von Hagen:
The Role of Exchange Rate Policies in the Determination of Capital Controls in Transition Economies
(February 2003)

Andreas Freytag:
Exchange Rate Arrangements, Economic Policy and Inflation: empirical Evidence for Latin America
(February 2003)

Michael Frömmel - Franziska Schobert:
Nominal Anchors in EU Accession Countries' Recent Experiences
(February 2003)

Hubert Gabrisch:
Financial Fragility and Exchange Rate Arrangements of EU Candidate Countries
(December 2002)

Elisabeth Ledrut - Lúcio Vinhas de Souza:
Alternative Paths Towards EMU: estimations for the Accession Countries
(December 2002)

Jean-Sébastien Pentecôte - Marc-Alexandre Sénégas:
ERMII anchoring on theWay to the EMU: more Notional than Real Effects?
(December 2002)

Dubravko Mihaljek:
The Balassa-Samuelson Effect in Central Europe: A Dissaggregated Analysis
(December 2002)

Peter Bofinger - Timo Wollmerhäuser:
Managed Floating: Theory, Practice and ERM II
(December 2002)

Dariusz K. Rosati:
Managing Capital Flows in Poland. Experiences, Problems and Questions
(May 2002)

Urmas Sepp - Martti Randveer:
The Sustainability of the Estonian Currency Board Arrangement
(May 2002)

Pekka Sutela:
Managing capital flows in Estonia and Latvia
(May 2002)

Vladimir Lavrac:
Exchange rate regimes of Central and Eastern European EU candidate countries on their way to EMU
(May 2002)

Trends in the Region:
Inflation and Disinflation in Eastern and Central Europe
(May 2002)

Andreas Freytag:
Accession to EMU and Exchange Rate Policies in Central Europe ? Decision Under Institutional Constraints
(March 2002)

Miroslav Beblavy:
Exchange Rate and Exchange Rate Regime in Slovakia Recent developments
(January 2002)

Peter Backé:
Inflation Developments in Central and Eastern European Accession Countries: Implications for Exchange Rate Policies and Regimes
(January 2002)

Gonzalo Caprirolo and Vladimir Lavrac:
Managing Capital Inflows in Slovenia. Experience and Options
(January 2002)

Claudia M. Buch - Ralph P. Heinrich:
Capital Flows to Transition Economies: How Risky is Financial Integration?
(January 2002)

David Begg:
Capital Inflows, Monetary Policy and the Exchange Rate Regime
(January 2002)