All
All

What are you looking for?

All
Projects
Organizations

Quick search

  • Projects supported by TA ČR
  • Excellent projects
  • Projects with the highest public support
  • Current projects

Smart search

  • That is how I find a specific +word
  • That is how I leave the -word out of the results
  • “That is how I can find the whole phrase”

Estimation of the Exchange Market Pressure in the EU4 Countries: A Model-Dependent Approach

Result description

This paper estimates the exchange market pressure (EMP) on currencies of EU4 countries (Czech Republic, Hungary, Poland, Slovakia) during the period 1993-2005. We found that EMP was significantly lower and less volatile during the periods when a floatingexchange rate arrangement was applied than in periods with fixed exchange rates. It implies that unavoidable entry into ERM II (a quasi-fixed regime) could lead to the EMP increase during the period of the exchange rate stability criterion fulfillment.

Keywords

exchange market pressuremodel-dependent approachEU New Member Statesexchange rate stability criterion

The result's identifiers

Alternative languages

  • Result language

    angličtina

  • Original language name

    Estimation of the Exchange Market Pressure in the EU4 Countries: A Model-Dependent Approach

  • Original language description

    This paper estimates the exchange market pressure (EMP) on currencies of EU4 countries (Czech Republic, Hungary, Poland, Slovakia) during the period 1993-2005. We found that EMP was significantly lower and less volatile during the periods when a floatingexchange rate arrangement was applied than in periods with fixed exchange rates. It implies that unavoidable entry into ERM II (a quasi-fixed regime) could lead to the EMP increase during the period of the exchange rate stability criterion fulfillment.

  • Czech name

    Odhad tlaku na devizovém trhu v zemích EU4: modelově-závislý přístup

  • Czech description

    V příspěvku je analyzován tlak na devizovém trhu (TDT) v zemích EU4 (Česko, Maďarsko, Polsko, Slovensko) v letech 1993-2005. Bylo zjištěno, že TDT byl významně nižší a méně volatilní v obdobích plovoucího devizového kurzu než v obdobích fixingu. Z toho vyplývá, že nutný vstup do kvazifixního režimu ERM II může zvýšit TDT v době plnění konvergenčního kritéria stability devizového kurzu.

Classification

  • Type

    Jx - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

  • CEP classification

    AH - Economics

  • OECD FORD branch

Result continuities

Others

  • Publication year

    2007

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Investment Management and Financial Innovations

  • ISSN

    1810-4967

  • e-ISSN

  • Volume of the periodical

    4

  • Issue of the periodical within the volume

    3

  • Country of publishing house

    UA - UKRAINE

  • Number of pages

    15

  • Pages from-to

    80-94

  • UT code for WoS article

  • EID of the result in the Scopus database

Result type

Jx - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

Jx

CEP

AH - Economics

Year of implementation

2007