Theoretical and Applied Economics
No. 5 / 2013 (582)
Monetary autonomy under different exchange rate regimes in the long-run: the case of seven new EU countries
Southeastern Louisiana University, USA
Abstract. This paper finds that except for Poland, the other six countries possess moderate or significant monetary autonomy in the long run as their interest rates make partial or small adjustments to a change in the Euro area interest rate. Except for the Czech Republic and Poland, the findings support the hypothesis that countries under more flexible exchange rate regimes possess more monetary autonomy than countries under less flexible exchange rate regimes because local interest rates under more flexible exchange rate regimes are less sensitive to a change in the euro area interest rate.
Contents
Early warning models of financial distress. Case study of the Romanian firms listed on RASDAQ
Innovation: a path to competitiveness and economic growth. The case of CEE countries
Monetary autonomy under different exchange rate regimes in the long-run: the case of seven new EU countries
The future of marketing: an appropriate response to the environment changes
Education for sustainability – a prerequisite for post-crisis economic competitiveness with possible inference for Romania
A regional model for labour demand in Romania
Robustness of public choice models of voting behavior
The evolution of sovereign wealth funds and their influence in the global economy. The case of China
How does the labour’s market dynamic influence the level of the public pension in Romania in the actual economic context?
The customers borrowing behavior during the financial crisis
Foreign direct investment and economic growth in Romania
The image of the economic institutions in the context of global economy