TY - BOOK ID - 84540859 TI - Czech Koruna and Polish Zloty : Spot and Currency Option Volatility Patterns PY - 2001 SN - 1462357989 1452753253 1282027883 9786613796608 145189967X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Finance: General KW - Foreign Exchange KW - Investments: Options KW - Money and Monetary Policy KW - Single Equation Models KW - Single Variables: General KW - Financial Aspects of Economic Integration KW - Contingent Pricing KW - Futures Pricing KW - option pricing KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - International Financial Markets KW - Pension Funds KW - Non-bank Financial Institutions KW - Financial Instruments KW - Institutional Investors KW - Development Planning and Policy: Trade Policy KW - Factor Movement KW - Foreign Exchange Policy KW - Currency KW - Foreign exchange KW - Finance KW - Monetary economics KW - Exchange rates KW - Currencies KW - Currency markets KW - Options KW - Exchange rate policy KW - Money KW - Financial markets KW - Financial institutions KW - Foreign exchange market KW - Derivative securities KW - Poland, Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84540859 AB - 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. ER -