Flexible Exchange Rates as Shock Absorbers in Central and Eastern Europe

Financial contagion, interest rates and the role of the exchange rate as shock absorber in Central and Eastern Europe

This paper studies the impact of external factors on daily exchange rates and short-term interest rates in the Czech Republic, Hungary and Poland during the period August 1997 – May 2001. I find that neither exchange rates nor interest rates are influenced by short-term German interest rates. Nevertheless, I show that shocks to emerging-market risk premia had a significant impact on exchange ra...

NTA as Political Strategy in Central and Eastern Europe

Central and Eastern Europe: Floods

affected persons in the Czech Republic, Poland, Slovakia and Hungary, was fully covered. The generous response of donors, backed up by a similar gesture from local communities, allowed all aspects of the operation (emergency relief, post-emergency relief, and rehabilitation) to be effected. Problems with communications and lack of Disaster Preparedness know-how were surmounted and valuable less...

Developments in Central and Eastern Europe

This article highlights the tenth conference of the Alliance of Universities for Democracy (AUDEM) held in Budapest, Hungary. Over the past ten years, AUDEM members have been instrumental in the reform of higher education in Central and Eastern Europe based on democratic principles. This year, government officials, college administrators, faculty members, and academic librarians from around the...

Social Dialogue in Central and Eastern Europe