IDEAS home Printed from https://ideas.repec.org/a/ags/polgne/350182.html
   My bibliography  Save this article

Bariery wstąpienia Polski do Unii Gospodarczej i Walutowej

Author

Listed:
  • Krajewski, Piotr

Abstract

The article attempts to assess the extent to which potential barriers to fulfilment of the Maastricht criteria may pose an obstacle to joining the Economic and Monetary Union (EMU) in 2006. Results of calculations indicate that the threat of failing to meet the inflation criterion due to closing the demand gap or to the Balassa-Samuelson effect is insignificant. On the other hand, a major barrier to fulfilment of the Maastricht criteria is posed by high structural budget deficit. It can be seen from calculations that at present the budget deficit is to only a limited extent the consequence of cyclical factors, and reduction of the public finance disequilibrium will require a substantial tightening of the fiscal policy. Simultaneous joining of the European Union and the ERM2 system in connection with the planned accession to the EMU in 2006 would increase the risk of setting a strong zloty parity in ERM2 and of failing to comply with the exchange rate criterion. A crawling peg regime might effectively counteract the zloty’s appreciation in the period prior to joining the euro zone.

Suggested Citation

  • Krajewski, Piotr, 2003. "Bariery wstąpienia Polski do Unii Gospodarczej i Walutowej," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2003(4), April.
    • Handle: RePEc:ags:polgne:350182
    DOI: 10.22004/ag.econ.350182
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/350182/files/Krajewski.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.350182?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Peter Brandner & Leopold Diebalek & Helene Schuberth, 1998. "Structural Budget Deficits and Sustainability of Fiscal Positions in the European Union," Working Papers 26, Oesterreichische Nationalbank (Austrian Central Bank).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kinnunen, Helvi & Kuoppamäki, Pasi, 1998. "Sustainability of public finances in Finland and the four largest Euro-area Economies," Bank of Finland Research Discussion Papers 25/1998, Bank of Finland.
    2. Matti Viren, 2011. "Fiscal policy coordination in the EMU: A problem with asymmetry and aggregation," Discussion Papers 70, Aboa Centre for Economics.
    3. Maria Neycheva, 2005. "The Impact of the Fisc on Macroeconomic Fluctuations in Bulgarian Economy," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 42-59.
    4. Martin Larch & João Nogueira Martins, 2007. "Fiscal indicators - Proceedings of the the Directorate-General for Economic and Financial Affairs Workshop held on 22 September 2006 in Brussels," European Economy - Economic Papers 2008 - 2015 297, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    5. VirÉn, Matti, 2000. "Fiscal Policy, Automatic Stabilisers and Policy Coordination in EMU," Discussion Papers 744, The Research Institute of the Finnish Economy.
    6. repec:zbw:bofrdp:1998_025 is not listed on IDEAS
    7. Martin Zagler, 2000. "The Austrian Miracle - Revisited: Testing eight Explanations for High Growth and maybe a ninth," Working Papers geewp11, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
    8. Virén, Matti, 2000. "How Sensitive is the Public Budget Balance to Cyclical Fluctuations in the EU?," Discussion Papers 230, VATT Institute for Economic Research.
    9. Barrell, Ray & Pina, Alvaro M., 2004. "How important are automatic stabilisers in Europe? A stochastic simulation assessment," Economic Modelling, Elsevier, vol. 21(1), pages 1-35, January.
    10. Helene Schuberth, 1998. "Room for manoeuvre of economic policy in EU countries are there costs of joining EMU?," Working Papers 35, Oesterreichische Nationalbank (Austrian Central Bank).
    11. Virén, Matti, 1999. "Fiscal Policy, Automatic Stabilisers and Policy Coordination in EMU," Discussion Papers 204, VATT Institute for Economic Research.
    12. Maria Neicheva, 2006. "Non-Keynesian Effects of Government Expenditure on Output in Bulgaria: An HP Filter Approach," Post-Communist Economies, Taylor & Francis Journals, vol. 18(1), pages 1-12.
    13. Kinnunen, Helvi & Kuoppamäki, Pasi, 1998. "Sustainability of public finances in Finland and the four largest Euro-area Economies," Research Discussion Papers 25/1998, Bank of Finland.
    14. Peter Brandner & Helmut Frisch & Eva Hauth, 2001. "Is Austria's Balanced Budget Stable?," WIFO Working Papers 148, WIFO.
    15. Kiander, Jaakko & Virén, Matti, 2000. "Do automatic stabilisers take care of asymmetric shocks in the euro area?," Discussion Papers 234, VATT Institute for Economic Research.
    16. Arjocu Ana-Maria & Dronca Alexandru, 2015. "Measuring The Structural Budget Deficit In The European Union," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 147-153, February.
    17. Piotr Krajewski, 2011. "Efekty podażowe szoków fiskalnych w gospodarce polskiej na podstawie modelu realnego cyklu koniunkturalnego," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 4, pages 23-43.
    18. repec:rej:journl:v:16:y:2013:i:47:p:75-90 is not listed on IDEAS
    19. Braconier, Henrik & Holden, Steinar, 1999. "The Public Budget Balance - Fiscal Indicators and Cyclical Sensitivity in the Nordic Countries," Working Papers 67, National Institute of Economic Research.
    20. António Afonso, 2001. "Non-Keynesian Effects of Fiscal Policy in the EU-15," Working Papers Department of Economics 2001/07, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    21. Martin Zagler, 2000. "On the sources of the high growth experience in Austria," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(2), pages 210-220, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:polgne:350182. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/irsghpl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.