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LINKS BETWEEN REAL AND NOMINAL CONVERGENCE IN THE NEW EU MEMBER STATES: IMPLICATIONS FOR THE ADOPTION OF EURO

100%
Vintrova R., Zdarek V.
Ekonomický časopis (Journal of Economics)
|
2007
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vol. 55
|
issue 5
439-458
EN
This paper analyses the relationships between real and nominal convergence in the new post communist member states and on this basis evaluates the potential benefits and risks connected with joining the euro. The analysis observes both the common problems of catching-up economies and the dissimilarities and peculiarities influenced by the differences in the macroeconomic parameters in individual countries. The regression analysis shows interdependence between the comparative price and wage level and the income per capita level. The benefits connected with elimination of the exchange rate risks and reduction of transaction costs are compared with the disadvantages associated with the loss of an independent monetary policy and an adjusting exchange rate mechanism. Attention is paid to a potential impact on real convergence of the observed countries.
2

KOMPARECE PŘIPRAVENOSTI ČESKÉ REPUBLIKY A SLOVENSKÉ REPUBLIKY NA ZAVEDENÍ EURA

88%
Lebiedzik M., Tuleja P., Pauhofová I.
Ekonomický časopis (Journal of Economics)
|
2008
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vol. 56
|
issue 1
22-38
EN
The Czech Republic and Slovakia before their entrance to the European Union committed to fulfil all conditions necessary for introducing the common European currency. While in a case of the Czech Republic appears as possible term of entrance the country to the Euro-zone year 2012 or even later, in a case of Slovakia is in last months more often discussed about 1st January 2009, whereas it will depend on the level of fulfilment of Maastricht criteria of nominal convergence. Although successful fulfilment of these criteria appears as bottom line for entrancing new country to the Euro-zone, according to many experts, is more important to fulfil real economic convergence criteria. This contribution deals with a process of a real convergence of these two economics.
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