The interest rate of forint loans was significantly higher than that of the euro and especially Swiss franc therefore the calculated amount of instalment

These results sug- gest that the retail prices for tradable goods can adjust quickly to nominal exchange rate movements and vice-versa, and have important implications for a

– Domestic wage and productivity changes + common exchange rate  real exchange rate misalignment (competitiveness). • Domestically generated problems – Lack of

– Domestic wage and productivity changes + common exchange rate  real exchange rate misalignment (competitiveness). • Domestically

Although the real appreciation was mainly driven by inflation differential at least in the initial period, the pattern of changes in the real exchange rate was dominated by volatility

Exchange rate based stabilization Choice of the exchange rate regime..

Exchange rate based stabilization Choice of the exchange rate regime..

It considers two different versions of the Hardy operator and characterizes their weighted weak type inequalities when p = 1.. It proves that for the classical Hardy operator, the

Proposition 4 The level of the exchange rate or the size of the money stock has a real effect in a currency board regime; while it is neutral in the nominal implementation of the

Alkomponenseire (H1, …, H4) bontja a rendszert SYS, amelyek- nek jól definiáltaknak kell lenniük. Ennél az elemzé- si eljárásnál a rendszer tervezője információt kap

Based on the slower-than-anticipated recovery in external business activity, the strong appreciation of the real exchange rate and the decline in corporate profitability,

1 Introduction The seminal paper of Krugman 1991 focused on explaining the exchange rate behaviour of a currency with a central parity rate and upper and lower exchange rate bands, the

• Open economy, pegged exchange rate: loss of monetary independency, the interest rate is determined by UIP.. • Floating exchange rate: monetary channels are more

In the case of expansionary public policy (i.e., public investment and government purchase) on non-traded goods, real exchange rate appreciation responds to the growth in

Many researchers come up with many proposals for leading indicators but the most popular include: real exchange rate, foreign reserves, cur- rent account, the level of

Relative unit labour costs also strengthened the real exchange rate, because although the growth of domestic labour costs came to a halt by the end of the year, the decline of

Accounting for this specific feature of Russian economy we going to extend the classic form of monetary policy rule and include additional target variable - the real exchange rate –

changes in the real exchange rate, including in particular its devaluation, change not only the value of outstanding debts denominated in foreign currencies, but a higher public