Czasopismo
Tytuł artykułu
Warianty tytułu
Języki publikacji
Abstrakty
Our objective has been to measure an impact of the two main global currencies - Euro and USD on shaping of exchange rates in countries of Central Europe. We have also endeavored to measure whether and to what extent a different approach to the Euro introduction as well as differentiated macroeconomic situation of these countries influenced the behavior of their exchange rates. The hitherto analyses indicate that the PLN rate of exchange was until 2004 strongly tied to the USD, but since 2004 links with the EUR exchange rate have become stronger. However the exchange rates of other countries in the region had been tied to the EUR earlier than the PLN exchange rate as they already had strong such links in the whole period of our analysis. Currency integration of the Central European countries is very strong although they are formally outside the euro zone and formation of their exchange rates should be perceived through trends of the EUR exchange rate versus other currencies, the USD. (original abstract)
Słowa kluczowe
Rocznik
Tom
Numer
Strony
165--176
Opis fizyczny
Twórcy
autor
- Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
autor
- Politechnika Koszalińska
autor
- Politechnika Warszawska
Bibliografia
- Engle R.F., Granger C.W. (1987) Cointegration and error correction: representation, estimation and testing, Econometrica, 55, pp. 251-276
- Flood R., Rose A. (1995) Fixing the Exchange Rate Regime: A Virtual Quest for Fundamentals, Journal of Monetary Economics, Vol. 36, pp. 33.
- Frenkel J. (1978) A monetary approach to the exchange rate: doctrinal aspects and empirical evidence, Scandinavian Journal of Economics, , Vol. 78, No. 2, pp. 219 - 220.
- Goodhart C. (1985) Money, information and uncertainty, Macmillan Press, London, p. 430.
- Gregory A.W., Hansen B.E. (1996) Residual - based tests for cointegration model with retime shifts, Journal of Econometrics, 70, pp. 99-126.
- Ravenna F. (2005) The European Monetary Union as a Commitment Device for New EU Member States, European Central Bank, Working Paper No. 516, Frankfurt/Main, p. 26.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
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