PL EN


2006 | 54 | 6 | 521-538
Article title

EXCHANGE RATE DEVELOPMENT AND VOLATILITY IN NEW EUROPEAN UNION MEMBER STATES

Authors
Title variants
Languages of publication
EN
Abstracts
EN
This paper assesses the exchange rate development and the volatility in six new EU member states during the period November 1996 - April 2006. The development is examined by the calculating various rates of return. The exchange rate volatility is analyzed by using the moving average standard deviations of the annualized daily returns of the nominal bilateral exchange rates. The three ERM II participating currencies (SIT, CYP, SKK) entered into the mechanism at the optimal time of stable exchange rate development and low volatility. However, the admissible fluctuation band ±2.25% seems to be too narrow for the remaining three currencies (CZK, HUF, PLN). Thus, these currencies should remain out of ERM II for some time.
Contributors
  • D. Stavarek, Ekonomický ústav SAV, Sancová 56, 811 05 Bratislava 1, Slovak Republic
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
06SKAAAA01603504
YADDA identifier
bwmeta1.element.3177f78c-46ab-3d09-bd4f-198d358f0307
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