Euroisation and cyclical stabilisation in Montenegro (notice n° 543199)
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| fixed length control field | 02648cam a2200229 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121112858.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Sokic, Alexandre |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Euroisation and cyclical stabilisation in Montenegro |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2016.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 43 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Cet article évalue l’importance de la question de la perte d’une politique monétaire indépendante dans le cas du passage unilatéral du Monténégro à l’euro. Dans quelle mesure la politique monétaire de la Banque centrale européenne, établie en fonction des conditions économiques prévalant dans la zone euro, a-t-elle contribué à la stabilisation du cycle économique du Monténégro ? La politique monétaire de la BCE a été, dans ce régime d’euroisation, acyclique par rapport à l’infation et signifcativement contra cyclique par rapport à la croissance de la production monténégrine. L’analyse comparative menée avec la Serbie ne suggère pas que le main-tien d’une politique monétaire indépendante aurait amélioré la stabilisation conjoncturelle au Monténégro. La transmission des taux directeurs de la BCE aux taux d’intérêt en vigueur dans les banques commerciales au Monténégro dépend de manière significative des conditions macroécono-miques du pays et des caractéristiques de son secteur bancaire. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | How much has Montenegro lost with its independent monetary policy owing to the unilateral euroisation of its economy? Has the European Central Bank’s (ECB) monetary policy, set according to the economic conditions prevailing in the eurozone, contributed to stabilising the country’s business cycle? Under euroisation, the ECB’s monetary policy has been acyclical in relation to Montenegrin inflation and significantly countercyclical in relation to the growth of production in the country. A comparison with Serbia does not suggest that an independent monetary policy would have improved cyclical stabilisation in Montenegro. The application of ECB interest rates to the rates practices by commercial banks in Montenegro very much depends on the macroeconomic conditions and characteristics of the banking system in Montenegro. JEL classification numbers: E42, E43, E52, E65 |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | cyclical stabilisation |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Montenegro |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | euroisation |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | dollarisation |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | monetary policy |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d’études comparatives Est-Ouest | o 47 | 3 | 2016-09-01 | p. 83-100 | 0338-0599 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-d-etudes-comparatives-est-ouest1-2016-3-page-83?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-revue-d-etudes-comparatives-est-ouest1-2016-3-page-83?lang=en&redirect-ssocas=7080</a> |
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