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N° 102 |
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| Issue 2, 2005 |
| Looking
Forward Towards the ERM II Central Parity: The Case of Poland |
|
Jakub Borowski
Anna Czogala
Adam Czyzewski
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| This paper addresses
issues related to the choice of the central parity for Poland’s prospective
ERM II membership. It discusses the relevance of different concepts of equilibrium
exchange rate in the determination of the central parity and, on the basis of
recent studies, it provides a tentative assessment of the equilibrium exchange
rate of the Polish zloty. Risks resulting from a potential exchange rate misalignment
are also analysed. Finally, in the context of the choice of the central parity,
the paper gives insights into developments in the Polish labour market and factors
behind the persistently high unemployment rate. |
Abstract |
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Full
Text |
| ERM
II; Poland; Equilibrium Exchange Rate; Labour Market |
Keywords |
| E58;
F33 |
JEL classification |
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Order form |
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