Bratislava Economic Seminar 20.6.

[siebertova]

Vážení kolegovia,

pozývame Vás na "Bratislava Economic Seminar", ktorý je spoločným projektom CEF FMFI UK, Národnej banky Slovenska a Katedry hpospodárskej politky Národohospodárskej fakulty EUBA. Oznámenie o podujatí je v prílohe.

Seminár sa uskutoční uskutoční v stredu 20.6.2012 o 15.00 v posluchárni C na FMFI UK a jeho náplňou bude prednáška:

Martin Berka (Victoria University of Wellington, New Zealand)
Real Exchange Rate Adjustment In and Out of the Euro Area

Abstract
It is often suggested that fixing nominal exchange rates unduly inhibits the efficient adjustment of real
exchange rates. Recently, this has been seen as a key failure of the Eurozone. This paper presents
some theory and evidence which throws doubt on this conclusion. Our empirical evidence suggests
that real exchange rate movement within the Eurozone was at least as compatible with efficient
adjustment as the behavior of real exchange rates for the floating rate countries outside the
Eurozone. This interpretation is consistent with a model in which nominal exchange rate movements
give rise to persistent deviations from the law of one price in traded goods.

S pozdravom,
CEF