Macroeconomic Policy in Central Europe

摘要: Our focus in this paper is macroeconomic policy the countries of Central Europe: The Czech Republic, Hungary, Poland and Slovakia. All four are committed to joining European Union. Accordingly, their policies need put them on a credible path towards meeting entry criteria at some point foreseeable future.We develop framework for analysing evaluating both development policy-making institutions each national economies that keep there as they move accession. We also seek design so it more generally useful developments other transition economies. approach we take analysis look first signs external balance, then internal balance economy increasingly decontrolled. Signs imbalance, either excessive budget deficits or unacceptably high inflation, taken indicators currently satisfactory situation could become unsatisfactory future, imbalance spills over sector.We recommend that, adopt Pre-Pegging Exchange Rate Regime, which essentially means no active nominal devaluation (no aimed real devaluation) country converges Union membership. Multi-Annual Fiscal Adjustment Strategy. Both these paths designed bring accession along smooth convergence possible. On basis economic performance, our overall ranking Slovakia, Poland, Hungary.