An international research project sponsored by Phare ACE during the period of September 2000 - March 2002. The project's chief academic co-ordinator was Lucjan T. Orłowski (Sacred Heart University, USA; CASE), a research assistant representing CASE was Mariusz Jarmużek. The research team included the following partners: Casper de Vries (EUR Rotterdam), Jens Hőlscher (UB University of Brighton). Roman Matoušek (CNB Prague), Josef Plasmans (UFSIA University of Antwerp), Lucio Vinhas de Souza (TI Rotterdam) i Antanas Buracas (VMU Vilnus).

The project was aimed at formulating principles of monetary policy that would facilitate the process of monetary convergence of the EU/EMU candidate countries. Different venues of monetary convergence were assessed and empirically examined with respect to exchange rate regimes and in terms of feasibility of adopting the European Monetary Union. Various transmission channels of monetary policy were analyzed in terms of determination of optimal paths of monetary convergence. An international conference summarizing the findings of the project was sponsored by CASE and the National Bank of Poland and it took place in Warsaw in February 2002.

More information on the subject of this project may be found on the web page: http://www.tinbergen.nl/~phare/Workshops/workshop-III.html

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