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@proceedings{5490, author = {Helísek, Mojmír and Mentlík, Roman}, booktitle = {International Scientific Conference. Economics, Management, Finance and Social Attributtes of Economics System. Proceedings of Abstract. June, 22-26, 2016, Dubrovnik.}, keywords = {ERM II; convergence criteria; euro area enlargement; Czech koruna}, language = {eng}, isbn = {978-80-8154-167-4}, note = {AR 2016/2017 - odesláno do RIV. (duben 2017)}, title = {Exchange Rate Convergence Criterion Regarding the Entry in the Euro Area – Hypothetical Participation of the Czech Koruna in ERM II}, year = {2016} }
TY - CONF ID - 5490 AU - Helísek, Mojmír - Mentlík, Roman PY - 2016 TI - Exchange Rate Convergence Criterion Regarding the Entry in the Euro Area – Hypothetical Participation of the Czech Koruna in ERM II SN - 9788081541674 N1 - AR 2016/2017 - odesláno do RIV. (duben 2017) KW - ERM II KW - convergence criteria KW - euro area enlargement KW - Czech koruna N2 - The fulfilment of the exchange rate stability criterion requires at least a two year participation of the given currency in ERM II “without severe tensions”. The Czech koruna does not participate in ERM II, inter alia because of risks which are connected with fixed exchange rate. The aim of this paper is to find out how to simulate such participation. At first, current methods of assessment of the criterion fulfilment by the Czech authorities, ECB and EC are analysed. We offer our own assessment which is different and reflects the change in the exchange rate regime since November 2013 (when massive interventions on the foreign exchange market started). Firstly, to evaluate only the period prior those interventions. Secondly, to determine the trend of the exchange rate development in 2010-2013 and extrapolate it into present time. In both cases, we arrive at the same conclusion: the convergence criterion was fulfilled. ER -
HELÍSEK, Mojmír a Roman MENTLÍK. Exchange Rate Convergence Criterion Regarding the Entry in the Euro Area – Hypothetical Participation of the Czech Koruna in ERM II. In \textit{International Scientific Conference. Economics, Management, Finance and Social Attributtes of Economics System. Proceedings of Abstract. June, 22-26, 2016, Dubrovnik.}. ISBN~978-80-8154-167-4. 2016.
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