Exchange rate policy for Eastern Europe and a peg to the ECU
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Exchange rate policy for Eastern Europe and a peg to the ECU by Michael Davenport

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Published by Commission of the European Communities, Directorate-General for Economic and Financial Affairs in Brussels .
Written in English


Book details:

Edition Notes

StatementMichael Davenport.
SeriesEconomic papers / Commission of the European Communities -- no.90, Economic papers (Commission of the European Communities. Directorate-General for Economic and Financial Affairs) -- no.90.
ContributionsCommission of the European Communities. Directorate-General for Economic and Financial Affairs.
The Physical Object
Pagination50p. ;
Number of Pages50
ID Numbers
Open LibraryOL16443530M

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  A currency peg is a policy in which a national government sets a specific fixed exchange rate for its currency with a foreign currency or a basket of currencies. Pegging a currency stabilizes the. Abstract. The choice of exchange rate arrangement has been actively discussed within the Nordic countries. 1 A policy question that has been raised is, under what exchange rate regime the Nordics most likely would achieve their macroeconomic policy goals of high levels of employment and high levels of economic growth, and with stable prices. In general, the policy of keeping the exchange rate Author: Sinimaaria Ranki. Figure 1. A Spectrum of Exchange Rate Policies. A nation may adopt one of a variety of exchange rate regimes, from floating rates in which the foreign exchange market determines the rates to pegged rates where governments intervene to manage the value of the exchange rate, to a common currency where the nation adopts the currency of another country or group of : OpenStax. The European Exchange Rate Mechanism (ERM) II is a system introduced by the European Economic Community on 1 January alongside the introduction of a single currency, the euro (replacing ERM 1 and the euro's predecessor, the ECU) as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe.

No. 90 Exchange Rate Policy for Eastern Europe and a Peg to the ECU, by Michael Davenport (March ). No. 91 The German Economy after Unification: Domestic and European Aspects, by Jürgen Kröger and Manfred Teutemann (April ). No. 92 Lessons from Stabilisation Programmes of Central and Eastern European Countries, Exchange Rate Regimes in Emerging Europe 5th Regional Meeting of Governors Umag, March , Bas B. Bakker Senior Regional Resident Representative for Central and Eastern Europe. Almost any type of Exchange Rate Regime can be found in (non-CIS) CESEE floating risks de-anchoring monetary policy. These statistics relate to the core tasks of the ECB, such as providing liquidity to the banking system, steering interest rates in the euro area and issuing euro banknotes. You will also find the balance sheet of the ECB and the Eurosystem, as well as the reference exchange rates of the euro vis-à . Exchange rates for the Euro against foreign currencies from Europe are displayed in the table above. The values in the Exchange Rate column provide the quantity of foreign currency units that can be purchased with 1 Euro based on recent exchange rates. To view Euro historical exchange rates, click on the Table and Graph links.

European central bank policy is already taking place today in an informal way. It comprises, in short, European exchange rate management and interest rate policy decisions within and without the European Monetary System (EMS). A focal point of such policy actions are the money market operating targets of European Central Banks. Eastern Europe for the past 20 years. Among these countries, Hungary stands out as having tried a number of exchange rate regimes – from the adjustable peg in ‐ to free float since In the first part, this paper analyses the macroeconomic performance of Hungary during the past. In the strongest version of the proposal, the ECU would literally circulate in Eastern Europe; in more moderate versions, the link would be a currency board or a simple peg. At the same time, in its resolution of , the European Council stated that “exchange rates should be seen as the outcome of all other economic policies”. This represents a general feature of exchange rate policies, as the exchange rate cannot be determined by one single actor.