| POTENTIAL COSTS OF EURO ADOPTION FOR TRANSITION COUNTRIES: A CASE STUDY FOR MACEDONIA |  | Author: Igor Velickovski
Publisher: VDM Verlag Dr. Müller
Category: Book
List Price: $97.00
Buy New: $96.36
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Media: Paperback
Pages: 340
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 8.7 x 5.9 x 0.8
ISBN: 363926424X
EAN: 9783639264241
ASIN: 363926424X
Publication Date: June 25, 2010
Availability: Usually ships in 1-2 business days
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Product Description
This book aims to fill the empirical gap in the investigation of the potential costs for transition countries, paying particular attention to Macedonia, stemming from the adoption of euro. Three important issues in the decision to join the monetary union are investigated: i) what is the scope for an independent monetary policy, by identifying the constraints on conducting a more flexible exchange rate policy; ii) what is the need for an independent monetary policy, by analyzing the shocks and responses similarity between transition countries and the euro area; and, iii) what is the ability to conduct an independent monetary policy, by estimating the interest rate pass-through. The contributions of this research are empirical in nature and are based on employing different econometric techniques: meta-regression analysis, structural VAR, Kalman filter, panel methodology and cointegration framework. This book should be useful to professionals in central banks and universities, students of macroeconomics or anyone else interested in monetary integration of the European countries.
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