The determinants of official and free-market exchange rates in Albania during transition

Article Abstract:

The examination of official and free-market exchange rates during transition in Albania concluded that the free market operates similar to other Western settings, notwithstanding the quite outdated set-up. Econometric results indicate the efficiency of official and free-market exchange rates, particulary when movements in one currency cannot be utilized to determine the future movements in another currency. Factors that are specific to the country are considered to be more accurate determinants of exchange rate rather than fluctuations in the global market.

Research, Econometrics, Albania

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Sources of real exchange rate fluctuations in transition economies: the case of Poland and Hungary

Article Abstract:

A structural VAR model has been used to test the view that, because of diverse fiscal and monetary policies, real exchange rates in some economies should follow a course that reflects the impact of real shocks and in other economies exchange rates should follow a course related to monetary shocks. It was found that nominal shocks have a more significant influence in accounting for the short-term changes in the real exchange rates in Poland, while real shocks were more influential in Hungary.

Prices and rates, Hungary, Foreign exchange rates

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Inflation stabilization, fiscal deficits, and public debt management in Poland

Article Abstract:

A basic structure connecting inflation, fiscal deficits and public debt management has been developed and applied to Poland. It is shown that external debt restructuring after 1992 and various measures regarding the banking system played a role in aligning fiscal policy more sustainably with inflation goals.

Public Debt, Economic policy, National debt, Public debts

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