| 来源类型 | Report |
| 规范类型 | 报告 |
| EPI 5: Monetary and Exchange Rate Policies, EMU and Central and Eastern Europe | |
| David Begg; László Halpern; Charles Wyplosz | |
| 发表日期 | 1999-06-20 |
| 出处 | Economic Policy Initiative Forum Report |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | The continuing global crisis, in which countries on several continents have experienced banking crisis and speculative attacks on their exchange rates, reinforces the need for Europe's transition economies to find a robust strategy for macroeconomic policy in the period leading up to accession and in preparation for joining EMU. This report examines three of the issues that need to be resolved along the way. First, as transformation continues, how should policy-makers think about the actual and the desirable evolution of the real exchange rate in transition economies? Second, what nominal anchor should be adopted? Third, to what extent must any credible monetary policy be underpinned by sound fiscal policy? Implicit in all these questions is the appropriate speed of disinflation, tradeoffs between fiscal prudence and adequate government expenditure on infrastructure and regulatory capacity, and implications for capital flows and the vulnerability of the banking system. 'This report ... is an important enrichment which gives decision-makers practical significance and offers lessons of pragmatism and modesty to policy-makers in transition economies.' (Jan Bielecki, EBRD) |
| URL | https://cepr.org/publications/books-and-reports/epi-5-monetary-and-exchange-rate-policies-emu-and-central-and |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529066 |
| 推荐引用方式 GB/T 7714 | David Begg,László Halpern,Charles Wyplosz. EPI 5: Monetary and Exchange Rate Policies, EMU and Central and Eastern Europe. 1999. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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