Year: 2007
Author: Bethge, Jan-Alexander, Ohr, Renate
Credit and Capital Markets – Kredit und Kapital, Vol. 40 (2007), Iss. 4 : pp. 495–525
Abstract
Concerning recommendations for early Euro adoption in EU accession countries from Central and Eastern Europe we address potential trade-offs between real and nominal convergence from a novel perspective. Specifically, we discuss the modern transfer problem as a trigger of sudden stops and bring up the concept of current-account sustainability as an approach complementary to the appraisement of stabilizing central parities and conversion rates. From a policy perspective a non-structural case-study approach seems preferable including (1) an assessment of numerical sustainability benchmarks and (2) an analysis of the sources and effects of actual current-account deficits. Clearly, this amends OCA criteria with intertemporal cost-benefit considerations. (JEL F 32, F 34, F 36)
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/ccm.40.4.495
Credit and Capital Markets – Kredit und Kapital, Vol. 40 (2007), Iss. 4 : pp. 495–525
Published online: 2007-10
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 31
Author Details
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