Macroeconomic Policy and Institutions During the Transition to European Union Membership

摘要: In this chapter a framework is developed for macroeconomic policy analysis during the transition to membership of EU and euro zone. The applied four accession countries in Central Europe (CE): Czech Republic, Hungary, Poland Slovakia. A multi-annual fiscal adjustment strategy (MAFAS) pre-pegging exchange rate regime (PPERR) appropriate maintaining internal external balance are described evidence on budgetary procedures presented. comparison suggests that CE better prepared stabilization than Greece, Spain Portugal were 1970s. Nevertheless there still considerable room institutional improvement. stronger commitment targets at preparatory stage would improve performance all countries, their be more credible if they adopted some group convergence.