01736cas a2200241 a 4500 AALejournalIMF001659 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451854275 1018-5941 BD-DhAAL BD-DhAAL Mendez Morales, Armando. Czech Koruna and Polish Zloty : Spot and Currency Option Volatility Patterns / Armando Mendez Morales. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (30 pages) IMF Working 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 Exchange rate flexibility has facilitated an impressively fast insertion of the Czech koruna and the Polish zloty into the global currency market. However, exchange rate volatility patterns differ: Lower volatility is observed for the koruna against the euro relative to the U.S. dollar, while the opposite is true for the zloty, apparently related to earlier financial integration of the Czech Republic with Europe and early dollarization in Poland as a result of initial higher inflation rates. By contrast, the currency options market shows enhanced information content of both currencies against the euro reflected in the behavior of their implied volatility. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2001/120 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/120/001.2001.issue-120-en.xml IMF e-Library