Literature by the same author
plus at Google Scholar

Bibliografische Daten exportieren
 

How Credible Are the Exchange Rate Regimes of the New EU Countries? : Empirical Evidence from Market Sentiment

Title data

Bauer, Christian ; Herz, Bernhard:
How Credible Are the Exchange Rate Regimes of the New EU Countries? : Empirical Evidence from Market Sentiment.
In: Eastern European Economics. Vol. 43 (2005) Issue 3 . - pp. 55-77.
ISSN 1557-9298

Related URLs

Abstract in another language

European Union (EU) accession countries have strong incentives to stabilize their exchange rates with respect to the euro as the nominal anchor. We present a microstructure model of the foreign exchange market based on technical trading that allows us to categorize the de facto exchange rate regimes and derive a market-based measure of the credibility of these exchange rate regimes. Our empirical results indicate that in the run-up to EU accession, most Central and Eastern European countries enjoyed high credibility in their exchange rate management. However, some of these future Economic and Monetary Union participants will have to strengthen their efforts and further focus their exchange rate policy on stabilizing the euro exchange rate.

Further data

Item Type: Article in a journal
Refereed: Yes
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I - International Economics and Finance > Chair Economics I - International Economics and Finance - Univ.-Prof. Dr. Bernhard Herz
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I - International Economics and Finance
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 13 Apr 2015 07:28
Last Modified: 13 Apr 2015 07:28
URI: https://eref.uni-bayreuth.de/id/eprint/10156