engleski

Essays on unofficial euroization in European transition economies

The presentation is divided into three chapters with each one covering a different part of the economy affected by unofficial euroization in Central and East European countries. First chapter deals with effects exchange rate shocks have on different macroeconomic variables in partially euroized economies. With the second chapter, we move to a more disaggregated level in order to capture the influence of unofficial euroization on the corporate sector. After aggregate and sectoral analysis, in the third chapter we deal with the Government, more specifically sovereign debt. Our focus is on explaining how financial euroization in form of original sin affects yield spreads for sovereign bonds in different European transition economies.

euroization; transition; nonlinear; exchange rate

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