engleski

Productivity, Price Level and Peculiarities of Transition Countries

The goal of this paper is to analyze productivity movements in the transition economies and its effects on the price levels, Maastricht criterions and EMU enlargement process. Movements of real exchange rates are analyzed in Croatia, Czech Rep., Hungary, Poland, Slovakia and Slovenia within the productivity biased purchasing power parity framework. Relative bilateral real exchange rates are analyzed within the framework of Casselian purchasing power parity during 1990-2004 with monthly frequency data. Absolute real exchange rates are analyzed through cross country analysis at the beginning and at the end of the transition within the framework of productivity biased purchasing power parity. At the end of research, papers dealing with relationship between productivity issues and Maastricht criterions are surveyed.

productivity; price level; real exchange rate

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