2008
DOI: 10.1007/s10663-007-9057-9
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Fundamentals, the exchange rate and prospects for the current and future EU enlargements: evidence from Bulgaria, Croatia, Romania and Turkey

Abstract: Exchange rate, Macroeconomic fundamentals, Transition economies, F31, P33, P52,

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Cited by 5 publications
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“…Assuming that the cumulated exchange rate misalignments in an unsustainable fixed exchange rate regime are the same in a horizon of a week as in a horizon of a year would be difficult to believe, however, if we move within prediction horizons below a month (as we do in the empirical application), the hypothesis is not too far‐fetched. Crespo Cuaresma et al (2008) estimate misalignments for Bulgaria and Croatia and find increasing misalignments over long periods of time (5 years for Bulgaria and 9 years for Croatia) but a relatively small variation within shorter periods of time. This provides evidence that the assumption we make is not unrealistic.…”
Section: Uncovered Interest Rate Parity and Currency Crisesmentioning
confidence: 97%
“…Assuming that the cumulated exchange rate misalignments in an unsustainable fixed exchange rate regime are the same in a horizon of a week as in a horizon of a year would be difficult to believe, however, if we move within prediction horizons below a month (as we do in the empirical application), the hypothesis is not too far‐fetched. Crespo Cuaresma et al (2008) estimate misalignments for Bulgaria and Croatia and find increasing misalignments over long periods of time (5 years for Bulgaria and 9 years for Croatia) but a relatively small variation within shorter periods of time. This provides evidence that the assumption we make is not unrealistic.…”
Section: Uncovered Interest Rate Parity and Currency Crisesmentioning
confidence: 97%