01768cas a2200241 a 4500 AALejournalIMF000944 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451972641 1934-7456 BD-DhAAL BD-DhAAL Masson, Paul. Monetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU / Paul Masson. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (26 pages) IMF Policy Discussion Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The more advanced Central and Eastern European Countries (CEECs) face an evolving set of considerations in choosing their exchange rate policies. On the one hand, capital mobility is increasing, and this imposes additional constraints on fixed exchange rate regimes, while trend real appreciation makes the combination of low inflation and exchange rate stability problematic. On the other hand, the objectives of EU and eventual EMU membership make attractive a peg to the euro at some stage in the transition. The paper discusses these conflicting considerations, and considers the feasibility of an alternative monetary framework, inflation targeting. Mode of access: Internet IMF Policy Discussion Papers; Policy Discussion Paper ; No. 1999/005 Full text available on IMF http://elibrary.imf.org/view/journals/003/1999/005/003.1999.issue-005-en.xml IMF e-Library