Download or read book The Estonian Currency Board written by Adalbert Knöbl and published by International Monetary Fund. This book was released on 2002-05 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the history of the introduction of the Estonian kroon under a currency board arrangement. On June 20, 1992, Estonia became the first country from the former Soviet Union to abandon the Russian ruble and introduce its own currency. The paper looks at the factors behind this decision and discusses the implementation of the currency reform. It then assesses the economic impact of the reform and also compares Estonia's experience with that of its Baltic neighbors. It concludes that although the currency board arrangement made an important contribution to the early success of Estonia's economic stabilization and reform program, the underlying financial and structural policies were crucial for that success.
Download or read book The Operation of the Estonian Currency Board written by Adam Bennett and published by . This book was released on 1992 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Operation of the Estonian Currency Board written by Adam G. G. Bennett and published by . This book was released on 1992 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Estonia Currency Board written by Adalbert Knb̈l and published by . This book was released on 2002 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Long Transition written by and published by . This book was released on 2014 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Reform for a Free Estonia written by Steve H. Hanke and published by . This book was released on 1992 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aspects of the Sustainability of Estonian Currency Board Arrangement written by Urmas Sepp and published by . This book was released on 2002 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Currency Boards written by Adam Bennett and published by International Monetary Fund. This book was released on 1994-09 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses some of the issues that concern the operation of currency boards, by comparison to conventional exchange rate pegs, and looks at the experiences of three examples of this type of arrangement: Argentina (from 1991), Hong Kong (from 1983) and Estonia (from 1992). In all three cases, the implementation of currency boards or equivalent arrangements played a significant role in their successful stabilization programs. Currency boards derive their strength from the fact that they severely constrain the policy maker’s room for manoeuvre, by comparison to conventional pegs. They generally require an even stricter and less forgiving attitude to bank failure, wage and price rigidities and other disturbances than do exchange rate pegs in general. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the international Monetary Fund mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
Download or read book The Monetary Sector Under a Currency Board Arrangement Specification and Estimation of a Model with Estonian Data written by Rasmus Pikkani and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Calculating the Equilibrium Real Exchange Rate of the Estonian Kroon written by Vadim Panashcha and published by LAP Lambert Academic Publishing. This book was released on 2010-07-01 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1992, Estonia has successfully maintained a currency board arrangement and this stability in the monetary policy has played an important role in helping the Estonian economy successfully overcome the problems associated with transition period while maintaining a pattern of steady and sustainable development. The objective of this thesis is to estimate the equilibrium exchange rate of the Estonian kroon over the period from 1995 until 2006. For this, behavioral equilibrium exchange rate (BEER) approach was used and the equilibrium real exchange rate calculation was based on such fundamentals like government expenditures, net foreign assets, terms of trade, foreign interest rate and the productivity difference ratio. The results of the thesis show that the misalignment of the kroon was in the range of ± 2 %, which can be considered a rather small deviation form the equilibrium. Exceptions to this are the beginning of the period, when the REER was undervalued by 5 %, and the Russian Crisis of 1998-1999, when overvaluation peaked at 13 %. Thus, REER has, on average, moved around its equilibrium value.
Download or read book The Stability of Currency Boards written by Kai Stukenbrock and published by Peter Lang Pub Incorporated. This book was released on 2004 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.
Download or read book A Survey of the Institutional and Operational Aspects of Modern day Currency Boards written by Corrinne Miu-ching Ho and published by . This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estonia s Currency Board Arrangement written by Francisco Ramon-Ballester and published by . This book was released on 1999 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Currency Board Arrangements written by Mr.Charles Enoch and published by International Monetary Fund. This book was released on 1997-09-05 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive analysis of the attractions and disadvantages of currency board arrangements in their various institutional configurations. It asks what defines a currency board arrangement, what are their strengths and weaknesses, and what constraints they place on macroeconomic policies. It also reviews country experiences with these arrangements.
Download or read book Limiting One s Policy Choices Through a Currency Board written by Ralf W. Boepple and published by . This book was released on 1997 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Currency Boards in Retrospect and Prospect written by Holger C. Wolf and published by MIT Press. This book was released on 2008 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employing economic theory, cross-country empirical comparison and case studies, this work analyses the effect of currency boards on inflation, output growth and macroeconomic performance. The case studies come from Argentina, Estonia Lithuania, Bulgaria and Bosnia and Herzegovina.
Download or read book Currency Boards for Developing Countries written by Steve H. Hanke and published by . This book was released on 1994 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
