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The Exchange Rate, Prices and the Supply Response under Transition: A Simulation Study

In: Exchange Rate Policies, Prices and Supply-Side Response

Author

Listed:
  • Pavlos Karadeloglou
  • George Chobanov
  • Aleš Delakorda
  • Wladyslaw Milo
  • Piotr Wdowinski

Abstract

Across the transition economies, both extensive liberalization as well as persistent stabilization efforts have been vital for improving economic performance. Liberalization involves freeing prices, trade and exit from state controls whereas stabilization means reducing domestic and external imbalances. An important issue related to liberalization and stabilization processes refers to the policy adopted for the determination of the exchange rate; that is, the choice of an appropriate exchange rate regime that would better serve these processes. The determination of an appropriate exchange rate is directly related to the objectives of the transition process. In particular, it influences the liberalization process by exposing domestic markets to world prices and the stabilization process through its contribution to external and internal balance.

Suggested Citation

  • Pavlos Karadeloglou & George Chobanov & Aleš Delakorda & Wladyslaw Milo & Piotr Wdowinski, 2001. "The Exchange Rate, Prices and the Supply Response under Transition: A Simulation Study," Palgrave Macmillan Books, in: Christos Papazoglou & Eric J. Pentecost (ed.), Exchange Rate Policies, Prices and Supply-Side Response, chapter 6, pages 78-88, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-55453-5_6
    DOI: 10.1057/9780230554535_6
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    Citations

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    Cited by:

    1. Piotr Wdowiński, 2005. "Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model," FindEcon Chapters: Forecasting Financial Markets and Economic Decision-Making, in: Władysław Milo & Piotr Wdowiński (ed.), Acta Universitatis Lodziensis. Folia Oeconomica nr 192/2005 - Issues in Modeling, Forecasting and Decision-Making in Financial Markets, edition 1, volume 127, chapter 2, pages 27-53, University of Lodz.
    2. Hernán Herrera-Echeverri & Jerry Haar & Alexander Arrieta Jiménez & Manuel Araújo Zapata, 2015. "Devaluation, Competitiveness And New Business Formation In Emerging Countries," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-22, September.
    3. Piotr Wdowinski, 2004. "Determinants of Country Beta Risk in Poland," CESifo Working Paper Series 1120, CESifo.
    4. MITEZA, Ilir, 2006. "Devaluation And Output In Five Transition Economies: A Panel Cointegration Approach Of Poland, Hungary, Czech Republic, Slovakia And Romania, 1993-2000," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 6(1).
    5. Piotr Wdowinski, 2005. "Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model," CESifo Working Paper Series 1557, CESifo.
    6. Tavakoli , Akbar & Kheradmand , Alireza, 2013. "Chronicle of Currency Collapses and the Effects on Output: Evidence from Six Asian Countries," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 8(2), pages 1-22, April.
    7. Mills, Terence C. & Pentecost, Eric J., 2001. "The real exchange rate and the output response in four EU accession countries," Emerging Markets Review, Elsevier, vol. 2(4), pages 418-430, December.

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