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@article{3109, author = {Helísek, Mojmír}, article_location = {Praha}, article_number = {č. 3}, keywords = {euro, euro area, euro area enlargement, maastricht criteria, nominal and real convergence, exchange rate stability, excessive deficit procedure, exchange rate volatility}, language = {eng}, issn = {1802-792X}, journal = {ACTA VŠFS}, title = {Impacts of Financial Crisis on the Euro Introduction in the Czech Republic}, url = {https://www.vsfs.cz/periodika/acta-2011-3-02.pdf}, volume = {roč. 5}, year = {2011} }
TY - JOUR ID - 3109 AU - Helísek, Mojmír PY - 2011 TI - Impacts of Financial Crisis on the Euro Introduction in the Czech Republic JF - ACTA VŠFS VL - roč. 5 IS - č. 3 SP - 220-240 EP - 220-240 PB - Vysoká škola finanční a správní, o.p.s. SN - 1802792X KW - euro, euro area, euro area enlargement, maastricht criteria, nominal and real convergence, exchange rate stability, excessive deficit procedure, exchange rate volatility UR - https://www.vsfs.cz/periodika/acta-2011-3-02.pdf N2 - This article deals with the issue of how the financial crisis and the economic recession influenced readiness of the Czech Republic to adopt the euro. Deficiency of the public finance has deepened and catch-up of the euro area price level has slowed down. The financial crisis and the recession have therefore complicated adoption of the euro and have delayed it. As the recession goes to its end, fulfilment of both criteria is improving. Besides, the article covers the question whether the financial crisis and the recession have influenced the expected benefits of the euro adoption. The interconnection of the Czech economy with the eurozone is examined, as well as the need of a stable exchange rate. The interconnection is strong and increasing. The long-term appreciation of the crown exchange rate reduces competitiveness of Czech exporters. In the case of the euro adoption, the trade relationships would be more stable than with the crown. The weighted variation coefficient expressing volatility of exchange rates showed with the crown existence (during 2007 – 2010) the value of 5.92%, with the crown replaced by the euro it would be only 2.68%. ER -
HELÍSEK, Mojmír. Impacts of Financial Crisis on the Euro Introduction in the Czech Republic. \textit{ACTA VŠFS}. Praha: Vysoká škola finanční a správní, o.p.s., 2011, roč. 5, č. 3, s.~220-240, 20 s. ISSN~1802-792X.
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