Comparison of Exchange Market Pressure Across the New Part of the European Union

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F11%3A%230002129" target="_blank" >RIV/47813059:19520/11:#0002129 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.2753/REE1540-496X4704S302" target="_blank" >http://dx.doi.org/10.2753/REE1540-496X4704S302</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.2753/REE1540-496X4704S302" target="_blank" >10.2753/REE1540-496X4704S302</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Comparison of Exchange Market Pressure Across the New Part of the European Union

Popis výsledku v původním jazyce

In this paper, we choose the correct model specification for eight European Union new member states (NMS) to estimate the exchange market pressure (EMP) for the period 1995-2009. The results suggest that the growth of domestic credit and the money multiplier had a significantly positive effect on EMP. Furthermore, EMP in many NMS was determined by foreign disturbances, namely, the eurozone's money supply, foreign capital inflow, and interest rate differential. EMP in most NMS with a flexible exchange rate regime was primarily absorbed by changes in international reserves. Along with fundamentally stable EMP development in recent years, this forms a solid basis for potential fulfillment of the exchange rate stability convergence criterion.

Název v anglickém jazyce

Comparison of Exchange Market Pressure Across the New Part of the European Union

Popis výsledku anglicky

In this paper, we choose the correct model specification for eight European Union new member states (NMS) to estimate the exchange market pressure (EMP) for the period 1995-2009. The results suggest that the growth of domestic credit and the money multiplier had a significantly positive effect on EMP. Furthermore, EMP in many NMS was determined by foreign disturbances, namely, the eurozone's money supply, foreign capital inflow, and interest rate differential. EMP in most NMS with a flexible exchange rate regime was primarily absorbed by changes in international reserves. Along with fundamentally stable EMP development in recent years, this forms a solid basis for potential fulfillment of the exchange rate stability convergence criterion.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GA402%2F08%2F0067" target="_blank" >GA402/08/0067: Finanční integrace nových členských zemí EU s eurozónou</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2011

Kód důvěrnosti údajů

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

Název periodika

EMERGING MARKETS FINANCE AND TRADE

ISSN

1540-496X

e-ISSN

—

Svazek periodika

47

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

19

Strana od-do

21-39

Kód UT WoS článku

000294534900003

EID výsledku v databázi Scopus

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