Republic of Lithuania: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 122

Publication date: March 2005

ISBN: 9781451824100

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , ISCR , CR , currency board , present discounted value , D , current account financing , consumption-smoothing current account position , Consumption-Smoothing current account , low-oil-price scenario inflation , current account prediction , Inflation , Current account deficits , Current account , Currency boards , Personal income , Baltics

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Summary

This Selected Issues paper looks at short-term inflation dynamics in the new member states (NMS) of the European Union, focusing on the role of monetary policy regimes. It models the determinants of inflation in the NMS and assesses how different theoretical frameworks best fit the data. The paper investigates the macroeconomic performance of currency boards within the group of NMS, evaluates their role in reducing inflation, and identifies some of their distinctive characteristics. The paper also examines the current account sustainability for Lithuania.