Republic of Lithuania: Selected Issues
March 31, 2005
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This Selected Issues paper looks at short-term inflation dynamics in the new member states (NMS) of the European Union, focusing on the role of monetary policy regimes. It models the determinants of inflation in the NMS and assesses how different theoretical frameworks best fit the data. The paper investigates the macroeconomic performance of currency boards within the group of NMS, evaluates their role in reducing inflation, and identifies some of their distinctive characteristics. The paper also examines the current account sustainability for Lithuania.
Subject: Balance of payments, Currency boards, Current account, Current account deficits, Foreign exchange, Inflation, National accounts, Personal income, Prices
Keywords: Baltics, Consumption-Smoothing current account, consumption-smoothing current account position, CR, currency board, Currency boards, Current account, Current account deficits, current account prediction, D. current account financing, Inflation, ISCR, low-oil-price scenario inflation, Personal income, present discounted value
Pages:
33
Volume:
2005
DOI:
Issue:
122
Series:
Country Report No. 2005/122
Stock No:
1LTUEA2005001
ISBN:
9781451824100
ISSN:
1934-7685
