2013/03/25 by Muhammad Khurram Khan, Khan, Muhammad, Mazen Kebewar +3
Economics, Econometrics and Finance · #FOS: Economics and business #Fiscal Policies and Political Economy #General Finance (q-fin.GN) #Global Financial Crisis and Policies #Monetary Policy and Economic Impact
paper · pdf · doi:10.48550/arxiv.1303.6192
openalex publication_date 2013/03/25 · openalex created_date 2022/10/03 · openalex updated_date 2026/07/28
In the late 90's, after severe financial and economic crisis, accompanied by\ninflation and exchange rate instability, Eastern Europe emerged into two groups\nof countries with radically contrasting monetary regimes (Currency Boards and\nInflation targeting). The task of our study is to compare econometrically the\nperformance of these two regimes in terms of the relationship between\ninflation, output growth, nominal and real uncertainties from 2000 till now. In\nother words, we test the hypothesis of non-neutrality of monetary and exchange\nrate regimes with respect to these connections. In a whole, the empirical\nresults do not allow us to judge which monetary regime is more appropriate and\nreasonable to assume. EU enlargement is one of the possible explanations for\nthe numbing of the differences and the lack of coherence between the two\nregimes in terms of inflation, growth and their uncertainties\n