id	sid	tid	token	lemma	pos
eistud-25731	1	1	121	121	NUM
eistud-25731	1	2	issn	issn	PROPN
eistud-25731	1	3	1822	1822	NUM
eistud-25731	1	4	–	–	PUNCT
eistud-25731	1	5	8402	8402	NUM
eistud-25731	1	6	european	european	ADJ
eistud-25731	1	7	integration	integration	NOUN
eistud-25731	1	8	studies	study	NOUN
eistud-25731	1	9	.	.	PUNCT
eistud-25731	1	10	2009	2009	NUM
eistud-25731	1	11	.	.	PUNCT
eistud-25731	2	1	no	no	DET
eistud-25731	2	2	3	3	NUM
eistud-25731	2	3	monetary	monetary	ADJ
eistud-25731	2	4	policy	policy	NOUN
eistud-25731	2	5	convergence	convergence	NOUN
eistud-25731	2	6	in	in	ADP
eistud-25731	2	7	the	the	DET
eistud-25731	2	8	preand	preand	NOUN
eistud-25731	2	9	postintegration	postintegration	NOUN
eistud-25731	2	10	period	period	NOUN
eistud-25731	2	11	.	.	PUNCT
eistud-25731	3	1	case	case	NOUN
eistud-25731	3	2	of	of	ADP
eistud-25731	3	3	baltic	baltic	ADJ
eistud-25731	3	4	states	state	NOUN
eistud-25731	3	5	and	and	CCONJ
eistud-25731	3	6	poland	poland	PROPN
eistud-25731	3	7	paweł	paweł	VERB
eistud-25731	3	8	młodkowski	młodkowski	ADJ
eistud-25731	3	9	jagiellonian	jagiellonian	PROPN
eistud-25731	3	10	univeristy	univeristy	PROPN
eistud-25731	3	11	,	,	PUNCT
eistud-25731	3	12	cracow	cracow	PROPN
eistud-25731	3	13	,	,	PUNCT
eistud-25731	3	14	poland	poland	PROPN
eistud-25731	3	15	abstract	abstract	ADJ
eistud-25731	3	16	economic	economic	ADJ
eistud-25731	3	17	integration	integration	NOUN
eistud-25731	3	18	is	be	AUX
eistud-25731	3	19	perceived	perceive	VERB
eistud-25731	3	20	as	as	ADP
eistud-25731	3	21	a	a	DET
eistud-25731	3	22	multi	multi	ADJ
eistud-25731	3	23	-	-	ADJ
eistud-25731	3	24	phase	phase	ADJ
eistud-25731	3	25	process	process	NOUN
eistud-25731	3	26	in	in	ADP
eistud-25731	3	27	which	which	PRON
eistud-25731	3	28	national	national	ADJ
eistud-25731	3	29	economic	economic	ADJ
eistud-25731	3	30	policies	policy	NOUN
eistud-25731	3	31	of	of	ADP
eistud-25731	3	32	a	a	DET
eistud-25731	3	33	group	group	NOUN
eistud-25731	3	34	of	of	ADP
eistud-25731	3	35	countries	country	NOUN
eistud-25731	3	36	or	or	CCONJ
eistud-25731	3	37	territories	territory	NOUN
eistud-25731	3	38	are	be	AUX
eistud-25731	3	39	systematically	systematically	ADV
eistud-25731	3	40	coordinated	coordinate	VERB
eistud-25731	3	41	and	and	CCONJ
eistud-25731	3	42	substituted	substitute	VERB
eistud-25731	3	43	by	by	ADP
eistud-25731	3	44	common	common	ADJ
eistud-25731	3	45	policies	policy	NOUN
eistud-25731	3	46	.	.	PUNCT
eistud-25731	4	1	we	we	PRON
eistud-25731	4	2	can	can	AUX
eistud-25731	4	3	observe	observe	VERB
eistud-25731	4	4	that	that	SCONJ
eistud-25731	4	5	this	this	DET
eistud-25731	4	6	world	world	NOUN
eistud-25731	4	7	-	-	PUNCT
eistud-25731	4	8	wide	wide	ADJ
eistud-25731	4	9	tendency	tendency	NOUN
eistud-25731	4	10	to	to	PART
eistud-25731	4	11	create	create	VERB
eistud-25731	4	12	regional	regional	ADJ
eistud-25731	4	13	free	free	ADJ
eistud-25731	4	14	-	-	PUNCT
eistud-25731	4	15	trade	trade	NOUN
eistud-25731	4	16	agreements	agreement	NOUN
eistud-25731	4	17	,	,	PUNCT
eistud-25731	4	18	common	common	ADJ
eistud-25731	4	19	markets	market	NOUN
eistud-25731	4	20	and	and	CCONJ
eistud-25731	4	21	monetary	monetary	ADJ
eistud-25731	4	22	unions	union	NOUN
eistud-25731	4	23	is	be	AUX
eistud-25731	4	24	beneficial	beneficial	ADJ
eistud-25731	4	25	for	for	ADP
eistud-25731	4	26	their	their	PRON
eistud-25731	4	27	participants	participant	NOUN
eistud-25731	4	28	.	.	PUNCT
eistud-25731	5	1	it	it	PRON
eistud-25731	5	2	is	be	AUX
eistud-25731	5	3	widely	widely	ADV
eistud-25731	5	4	recognized	recognize	VERB
eistud-25731	5	5	that	that	SCONJ
eistud-25731	5	6	benefits	benefit	NOUN
eistud-25731	5	7	from	from	ADP
eistud-25731	5	8	coordination	coordination	NOUN
eistud-25731	5	9	and	and	CCONJ
eistud-25731	5	10	giving	give	VERB
eistud-25731	5	11	up	up	ADP
eistud-25731	5	12	national	national	ADJ
eistud-25731	5	13	policy	policy	NOUN
eistud-25731	5	14	independence	independence	NOUN
eistud-25731	5	15	exceed	exceed	VERB
eistud-25731	5	16	costs	cost	NOUN
eistud-25731	5	17	,	,	PUNCT
eistud-25731	5	18	both	both	CCONJ
eistud-25731	5	19	economic	economic	ADJ
eistud-25731	5	20	and	and	CCONJ
eistud-25731	5	21	social	social	ADJ
eistud-25731	5	22	ones	one	NOUN
eistud-25731	5	23	.	.	PUNCT
eistud-25731	6	1	it	it	PRON
eistud-25731	6	2	can	can	AUX
eistud-25731	6	3	be	be	AUX
eistud-25731	6	4	argued	argue	VERB
eistud-25731	6	5	that	that	SCONJ
eistud-25731	6	6	the	the	DET
eistud-25731	6	7	european	european	PROPN
eistud-25731	6	8	union	union	PROPN
eistud-25731	6	9	and	and	CCONJ
eistud-25731	6	10	the	the	DET
eistud-25731	6	11	european	european	PROPN
eistud-25731	6	12	monetary	monetary	PROPN
eistud-25731	6	13	union	union	PROPN
eistud-25731	6	14	are	be	AUX
eistud-25731	6	15	the	the	DET
eistud-25731	6	16	role	role	NOUN
eistud-25731	6	17	models	model	NOUN
eistud-25731	6	18	of	of	ADP
eistud-25731	6	19	economic	economic	ADJ
eistud-25731	6	20	integration	integration	NOUN
eistud-25731	6	21	.	.	PUNCT
eistud-25731	7	1	in	in	ADP
eistud-25731	7	2	the	the	DET
eistud-25731	7	3	course	course	NOUN
eistud-25731	7	4	of	of	ADP
eistud-25731	7	5	integrating	integrate	VERB
eistud-25731	7	6	new	new	ADJ
eistud-25731	7	7	member	member	NOUN
eistud-25731	7	8	states	state	NOUN
eistud-25731	7	9	that	that	PRON
eistud-25731	7	10	joined	join	VERB
eistud-25731	7	11	the	the	DET
eistud-25731	7	12	eu	eu	PROPN
eistud-25731	7	13	in	in	ADP
eistud-25731	7	14	2004	2004	NUM
eistud-25731	7	15	,	,	PUNCT
eistud-25731	7	16	and	and	CCONJ
eistud-25731	7	17	later	later	ADV
eistud-25731	7	18	,	,	PUNCT
eistud-25731	7	19	one	one	PRON
eistud-25731	7	20	can	can	AUX
eistud-25731	7	21	expect	expect	VERB
eistud-25731	7	22	that	that	SCONJ
eistud-25731	7	23	both	both	CCONJ
eistud-25731	7	24	nominal	nominal	ADJ
eistud-25731	7	25	and	and	CCONJ
eistud-25731	7	26	real	real	ADJ
eistud-25731	7	27	convergence	convergence	NOUN
eistud-25731	7	28	takes	take	VERB
eistud-25731	7	29	place	place	NOUN
eistud-25731	7	30	.	.	PUNCT
eistud-25731	8	1	this	this	PRON
eistud-25731	8	2	is	be	AUX
eistud-25731	8	3	of	of	ADP
eistud-25731	8	4	high	high	ADJ
eistud-25731	8	5	importance	importance	NOUN
eistud-25731	8	6	especially	especially	ADV
eistud-25731	8	7	for	for	ADP
eistud-25731	8	8	those	those	DET
eistud-25731	8	9	countries	country	NOUN
eistud-25731	8	10	,	,	PUNCT
eistud-25731	8	11	which	which	PRON
eistud-25731	8	12	intend	intend	VERB
eistud-25731	8	13	to	to	PART
eistud-25731	8	14	join	join	VERB
eistud-25731	8	15	the	the	DET
eistud-25731	8	16	emu	emu	PROPN
eistud-25731	8	17	soon	soon	ADV
eistud-25731	8	18	.	.	PUNCT
eistud-25731	9	1	there	there	PRON
eistud-25731	9	2	is	be	VERB
eistud-25731	9	3	a	a	DET
eistud-25731	9	4	set	set	NOUN
eistud-25731	9	5	of	of	ADP
eistud-25731	9	6	nominal	nominal	ADJ
eistud-25731	9	7	criteria	criterion	NOUN
eistud-25731	9	8	to	to	PART
eistud-25731	9	9	be	be	AUX
eistud-25731	9	10	met	meet	VERB
eistud-25731	9	11	,	,	PUNCT
eistud-25731	9	12	but	but	CCONJ
eistud-25731	9	13	their	their	PRON
eistud-25731	9	14	economic	economic	ADJ
eistud-25731	9	15	justification	justification	NOUN
eistud-25731	9	16	is	be	AUX
eistud-25731	9	17	not	not	PART
eistud-25731	9	18	clear	clear	ADJ
eistud-25731	9	19	.	.	PUNCT
eistud-25731	10	1	they	they	PRON
eistud-25731	10	2	are	be	AUX
eistud-25731	10	3	not	not	PART
eistud-25731	10	4	associated	associate	VERB
eistud-25731	10	5	with	with	ADP
eistud-25731	10	6	the	the	DET
eistud-25731	10	7	optimality	optimality	NOUN
eistud-25731	10	8	criteria	criterion	NOUN
eistud-25731	10	9	of	of	ADP
eistud-25731	10	10	the	the	DET
eistud-25731	10	11	classical	classical	ADJ
eistud-25731	10	12	optimal	optimal	ADJ
eistud-25731	10	13	currency	currency	NOUN
eistud-25731	10	14	area	area	NOUN
eistud-25731	10	15	theory	theory	NOUN
eistud-25731	10	16	.	.	PUNCT
eistud-25731	11	1	despite	despite	SCONJ
eistud-25731	11	2	they	they	PRON
eistud-25731	11	3	are	be	AUX
eistud-25731	11	4	intended	intend	VERB
eistud-25731	11	5	to	to	PART
eistud-25731	11	6	induce	induce	VERB
eistud-25731	11	7	convergence	convergence	NOUN
eistud-25731	11	8	,	,	PUNCT
eistud-25731	11	9	many	many	ADJ
eistud-25731	11	10	economists	economist	NOUN
eistud-25731	11	11	criticize	criticize	VERB
eistud-25731	11	12	them	they	PRON
eistud-25731	11	13	as	as	ADP
eistud-25731	11	14	too	too	ADV
eistud-25731	11	15	strict	strict	ADJ
eistud-25731	11	16	in	in	ADP
eistud-25731	11	17	terms	term	NOUN
eistud-25731	11	18	of	of	ADP
eistud-25731	11	19	their	their	PRON
eistud-25731	11	20	definitions	definition	NOUN
eistud-25731	11	21	.	.	PUNCT
eistud-25731	12	1	as	as	ADP
eistud-25731	12	2	a	a	DET
eistud-25731	12	3	half	half	NOUN
eistud-25731	12	4	of	of	ADP
eistud-25731	12	5	century	century	NOUN
eistud-25731	12	6	of	of	ADP
eistud-25731	12	7	experience	experience	NOUN
eistud-25731	12	8	of	of	ADP
eistud-25731	12	9	the	the	DET
eistud-25731	12	10	non	non	ADJ
eistud-25731	12	11	-	-	ADJ
eistud-25731	12	12	european	european	ADJ
eistud-25731	12	13	monetary	monetary	ADJ
eistud-25731	12	14	unions	union	NOUN
eistud-25731	12	15	tells	tell	VERB
eistud-25731	12	16	us	we	PRON
eistud-25731	12	17	(	(	PUNCT
eistud-25731	12	18	młodkowski	młodkowski	NOUN
eistud-25731	12	19	2007	2007	NUM
eistud-25731	12	20	)	)	PUNCT
eistud-25731	12	21	,	,	PUNCT
eistud-25731	12	22	neither	neither	CCONJ
eistud-25731	12	23	inflation	inflation	NOUN
eistud-25731	12	24	nor	nor	CCONJ
eistud-25731	12	25	fiscal	fiscal	ADJ
eistud-25731	12	26	deficit	deficit	NOUN
eistud-25731	12	27	represents	represent	VERB
eistud-25731	12	28	a	a	DET
eistud-25731	12	29	reason	reason	NOUN
eistud-25731	12	30	for	for	ADP
eistud-25731	12	31	rejecting	reject	VERB
eistud-25731	12	32	a	a	DET
eistud-25731	12	33	prospect	prospect	NOUN
eistud-25731	12	34	member	member	NOUN
eistud-25731	12	35	.	.	PUNCT
eistud-25731	13	1	it	it	PRON
eistud-25731	13	2	is	be	AUX
eistud-25731	13	3	argued	argue	VERB
eistud-25731	13	4	that	that	SCONJ
eistud-25731	13	5	compliance	compliance	NOUN
eistud-25731	13	6	with	with	ADP
eistud-25731	13	7	any	any	PRON
eistud-25731	13	8	of	of	ADP
eistud-25731	13	9	the	the	DET
eistud-25731	13	10	criteria	criterion	NOUN
eistud-25731	13	11	is	be	AUX
eistud-25731	13	12	achievable	achievable	ADJ
eistud-25731	13	13	at	at	ADP
eistud-25731	13	14	lower	low	ADJ
eistud-25731	13	15	costs	cost	NOUN
eistud-25731	13	16	(	(	PUNCT
eistud-25731	13	17	social	social	ADJ
eistud-25731	13	18	and	and	CCONJ
eistud-25731	13	19	political	political	ADJ
eistud-25731	13	20	)	)	PUNCT
eistud-25731	13	21	after	after	ADP
eistud-25731	13	22	full	full	ADJ
eistud-25731	13	23	monetary	monetary	ADJ
eistud-25731	13	24	integration	integration	NOUN
eistud-25731	13	25	due	due	ADP
eistud-25731	13	26	to	to	ADP
eistud-25731	13	27	endogenity	endogenity	NOUN
eistud-25731	13	28	.	.	PUNCT
eistud-25731	14	1	what	what	PRON
eistud-25731	14	2	matters	matter	VERB
eistud-25731	14	3	is	be	AUX
eistud-25731	14	4	the	the	DET
eistud-25731	14	5	monetary	monetary	ADJ
eistud-25731	14	6	policy	policy	NOUN
eistud-25731	14	7	stance	stance	NOUN
eistud-25731	14	8	convergence	convergence	NOUN
eistud-25731	14	9	in	in	ADP
eistud-25731	14	10	the	the	DET
eistud-25731	14	11	pre	pre	NOUN
eistud-25731	14	12	-	-	NOUN
eistud-25731	14	13	integration	integration	ADJ
eistud-25731	14	14	period	period	NOUN
eistud-25731	14	15	among	among	ADP
eistud-25731	14	16	monetary	monetary	ADJ
eistud-25731	14	17	union	union	NOUN
eistud-25731	14	18	member	member	NOUN
eistud-25731	14	19	states	state	NOUN
eistud-25731	14	20	.	.	PUNCT
eistud-25731	15	1	only	only	ADV
eistud-25731	15	2	then	then	ADV
eistud-25731	15	3	substituting	substitute	VERB
eistud-25731	15	4	domestic	domestic	ADJ
eistud-25731	15	5	monetary	monetary	ADJ
eistud-25731	15	6	policy	policy	NOUN
eistud-25731	15	7	with	with	ADP
eistud-25731	15	8	a	a	DET
eistud-25731	15	9	common	common	ADJ
eistud-25731	15	10	one	one	NOUN
eistud-25731	15	11	will	will	AUX
eistud-25731	15	12	not	not	PART
eistud-25731	15	13	generate	generate	VERB
eistud-25731	15	14	any	any	DET
eistud-25731	15	15	shocks	shock	NOUN
eistud-25731	15	16	for	for	ADP
eistud-25731	15	17	the	the	DET
eistud-25731	15	18	underlying	underlie	VERB
eistud-25731	15	19	economies	economy	NOUN
eistud-25731	15	20	.	.	PUNCT
eistud-25731	16	1	therefore	therefore	ADV
eistud-25731	16	2	,	,	PUNCT
eistud-25731	16	3	it	it	PRON
eistud-25731	16	4	would	would	AUX
eistud-25731	16	5	be	be	AUX
eistud-25731	16	6	reasonable	reasonable	ADJ
eistud-25731	16	7	to	to	PART
eistud-25731	16	8	reform	reform	VERB
eistud-25731	16	9	the	the	DET
eistud-25731	16	10	current	current	ADJ
eistud-25731	16	11	set	set	NOUN
eistud-25731	16	12	of	of	ADP
eistud-25731	16	13	nominal	nominal	ADJ
eistud-25731	16	14	convergence	convergence	NOUN
eistud-25731	16	15	criteria	criterion	NOUN
eistud-25731	16	16	and	and	CCONJ
eistud-25731	16	17	introduce	introduce	VERB
eistud-25731	16	18	a	a	DET
eistud-25731	16	19	new	new	ADJ
eistud-25731	16	20	one	one	NOUN
eistud-25731	16	21	,	,	PUNCT
eistud-25731	16	22	covering	cover	VERB
eistud-25731	16	23	monetary	monetary	ADJ
eistud-25731	16	24	policy	policy	NOUN
eistud-25731	16	25	stance	stance	NOUN
eistud-25731	16	26	convergence	convergence	NOUN
eistud-25731	16	27	.	.	PUNCT
eistud-25731	17	1	in	in	ADP
eistud-25731	17	2	order	order	NOUN
eistud-25731	17	3	to	to	PART
eistud-25731	17	4	implement	implement	VERB
eistud-25731	17	5	this	this	DET
eistud-25731	17	6	idea	idea	NOUN
eistud-25731	17	7	a	a	PRON
eistud-25731	17	8	convenient	convenient	ADJ
eistud-25731	17	9	,	,	PUNCT
eistud-25731	17	10	simple	simple	ADJ
eistud-25731	17	11	and	and	CCONJ
eistud-25731	17	12	easy	easy	ADJ
eistud-25731	17	13	to	to	PART
eistud-25731	17	14	understand	understand	VERB
eistud-25731	17	15	method	method	NOUN
eistud-25731	17	16	is	be	AUX
eistud-25731	17	17	required	require	VERB
eistud-25731	17	18	for	for	ADP
eistud-25731	17	19	capturing	capture	VERB
eistud-25731	17	20	monetary	monetary	ADJ
eistud-25731	17	21	situation	situation	NOUN
eistud-25731	17	22	.	.	PUNCT
eistud-25731	18	1	the	the	DET
eistud-25731	18	2	literature	literature	NOUN
eistud-25731	18	3	on	on	ADP
eistud-25731	18	4	measuring	measure	VERB
eistud-25731	18	5	restrictiveness	restrictiveness	NOUN
eistud-25731	18	6	of	of	ADP
eistud-25731	18	7	monetary	monetary	ADJ
eistud-25731	18	8	policy	policy	NOUN
eistud-25731	18	9	is	be	AUX
eistud-25731	18	10	vast	vast	ADJ
eistud-25731	18	11	and	and	CCONJ
eistud-25731	18	12	still	still	ADV
eistud-25731	18	13	growing	grow	VERB
eistud-25731	18	14	.	.	PUNCT
eistud-25731	19	1	one	one	NUM
eistud-25731	19	2	of	of	ADP
eistud-25731	19	3	the	the	DET
eistud-25731	19	4	newest	new	ADJ
eistud-25731	19	5	approaches	approach	NOUN
eistud-25731	19	6	that	that	PRON
eistud-25731	19	7	could	could	AUX
eistud-25731	19	8	be	be	AUX
eistud-25731	19	9	quite	quite	ADV
eistud-25731	19	10	convenient	convenient	ADJ
eistud-25731	19	11	for	for	SCONJ
eistud-25731	19	12	the	the	DET
eistud-25731	19	13	proposed	propose	VERB
eistud-25731	19	14	reform	reform	NOUN
eistud-25731	19	15	is	be	AUX
eistud-25731	19	16	based	base	VERB
eistud-25731	19	17	on	on	ADP
eistud-25731	19	18	an	an	DET
eistud-25731	19	19	alternative	alternative	ADJ
eistud-25731	19	20	interpretation	interpretation	NOUN
eistud-25731	19	21	of	of	ADP
eistud-25731	19	22	the	the	DET
eistud-25731	19	23	money	money	NOUN
eistud-25731	19	24	velocity	velocity	NOUN
eistud-25731	19	25	short	short	ADJ
eistud-25731	19	26	-	-	PUNCT
eistud-25731	19	27	term	term	NOUN
eistud-25731	19	28	shocks	shock	NOUN
eistud-25731	19	29	.	.	PUNCT
eistud-25731	20	1	according	accord	VERB
eistud-25731	20	2	to	to	ADP
eistud-25731	20	3	reynard	reynard	PROPN
eistud-25731	20	4	(	(	PUNCT
eistud-25731	20	5	2007	2007	NUM
eistud-25731	20	6	)	)	PUNCT
eistud-25731	20	7	these	these	PRON
eistud-25731	20	8	are	be	AUX
eistud-25731	20	9	fully	fully	ADV
eistud-25731	20	10	a	a	DET
eistud-25731	20	11	reflection	reflection	NOUN
eistud-25731	20	12	of	of	ADP
eistud-25731	20	13	monetary	monetary	ADJ
eistud-25731	20	14	policy	policy	NOUN
eistud-25731	20	15	.	.	PUNCT
eistud-25731	21	1	the	the	DET
eistud-25731	21	2	paper	paper	NOUN
eistud-25731	21	3	utilizes	utilize	VERB
eistud-25731	21	4	the	the	DET
eistud-25731	21	5	monetary	monetary	ADJ
eistud-25731	21	6	policy	policy	NOUN
eistud-25731	21	7	stance	stance	NOUN
eistud-25731	21	8	indicator	indicator	NOUN
eistud-25731	21	9	created	create	VERB
eistud-25731	21	10	and	and	CCONJ
eistud-25731	21	11	developed	develop	VERB
eistud-25731	21	12	by	by	ADP
eistud-25731	21	13	młodkowski	młodkowski	NOUN
eistud-25731	21	14	(	(	PUNCT
eistud-25731	21	15	2007	2007	NUM
eistud-25731	21	16	,	,	PUNCT
eistud-25731	21	17	2008a	2008a	NUM
eistud-25731	21	18	,	,	PUNCT
eistud-25731	21	19	2008b	2008b	NUM
eistud-25731	21	20	,	,	PUNCT
eistud-25731	21	21	2009	2009	NUM
eistud-25731	21	22	)	)	PUNCT
eistud-25731	21	23	to	to	PART
eistud-25731	21	24	present	present	VERB
eistud-25731	21	25	tendencies	tendency	NOUN
eistud-25731	21	26	in	in	ADP
eistud-25731	21	27	monetary	monetary	ADJ
eistud-25731	21	28	policy	policy	NOUN
eistud-25731	21	29	restrictiveness	restrictiveness	NOUN
eistud-25731	21	30	in	in	ADP
eistud-25731	21	31	four	four	NUM
eistud-25731	21	32	countries	country	NOUN
eistud-25731	21	33	:	:	PUNCT
eistud-25731	21	34	estonia	estonia	PROPN
eistud-25731	21	35	,	,	PUNCT
eistud-25731	21	36	latvia	latvia	PROPN
eistud-25731	21	37	,	,	PUNCT
eistud-25731	21	38	lithuania	lithuania	PROPN
eistud-25731	21	39	and	and	CCONJ
eistud-25731	21	40	poland	poland	PROPN
eistud-25731	21	41	over	over	ADP
eistud-25731	21	42	the	the	DET
eistud-25731	21	43	period	period	NOUN
eistud-25731	21	44	from	from	ADP
eistud-25731	21	45	1998	1998	NUM
eistud-25731	21	46	to	to	ADP
eistud-25731	21	47	2008	2008	NUM
eistud-25731	21	48	.	.	PUNCT
eistud-25731	22	1	hypothesis	hypothesis	NOUN
eistud-25731	22	2	posed	pose	VERB
eistud-25731	22	3	deals	deal	NOUN
eistud-25731	22	4	with	with	ADP
eistud-25731	22	5	expected	expect	VERB
eistud-25731	22	6	tendencies	tendency	NOUN
eistud-25731	22	7	in	in	ADP
eistud-25731	22	8	domestic	domestic	ADJ
eistud-25731	22	9	policies	policy	NOUN
eistud-25731	22	10	in	in	ADP
eistud-25731	22	11	countries	country	NOUN
eistud-25731	22	12	that	that	PRON
eistud-25731	22	13	were	be	AUX
eistud-25731	22	14	advancing	advance	VERB
eistud-25731	22	15	in	in	ADP
eistud-25731	22	16	economic	economic	ADJ
eistud-25731	22	17	integration	integration	NOUN
eistud-25731	22	18	and	and	CCONJ
eistud-25731	22	19	became	become	VERB
eistud-25731	22	20	full	full	ADJ
eistud-25731	22	21	members	member	NOUN
eistud-25731	22	22	of	of	ADP
eistud-25731	22	23	the	the	DET
eistud-25731	22	24	eu	eu	PROPN
eistud-25731	22	25	in	in	ADP
eistud-25731	22	26	2004	2004	NUM
eistud-25731	22	27	.	.	PUNCT
eistud-25731	23	1	similarities	similarity	NOUN
eistud-25731	23	2	and	and	CCONJ
eistud-25731	23	3	differences	difference	NOUN
eistud-25731	23	4	in	in	ADP
eistud-25731	23	5	monetary	monetary	ADJ
eistud-25731	23	6	policy	policy	NOUN
eistud-25731	23	7	stance	stance	NOUN
eistud-25731	23	8	should	should	AUX
eistud-25731	23	9	be	be	AUX
eistud-25731	23	10	attributable	attributable	ADJ
eistud-25731	23	11	to	to	ADP
eistud-25731	23	12	some	some	DET
eistud-25731	23	13	global	global	ADJ
eistud-25731	23	14	events	event	NOUN
eistud-25731	23	15	and	and	CCONJ
eistud-25731	23	16	regional	regional	ADJ
eistud-25731	23	17	developments	development	NOUN
eistud-25731	23	18	.	.	PUNCT
eistud-25731	24	1	data	datum	NOUN
eistud-25731	24	2	source	source	NOUN
eistud-25731	24	3	for	for	ADP
eistud-25731	24	4	the	the	DET
eistud-25731	24	5	empirical	empirical	ADJ
eistud-25731	24	6	study	study	NOUN
eistud-25731	24	7	is	be	AUX
eistud-25731	24	8	the	the	DET
eistud-25731	24	9	international	international	ADJ
eistud-25731	24	10	financial	financial	ADJ
eistud-25731	24	11	statistics	statistic	NOUN
eistud-25731	24	12	by	by	ADP
eistud-25731	24	13	the	the	DET
eistud-25731	24	14	international	international	ADJ
eistud-25731	24	15	monetary	monetary	ADJ
eistud-25731	24	16	fund	fund	NOUN
eistud-25731	24	17	(	(	PUNCT
eistud-25731	24	18	january	january	PROPN
eistud-25731	24	19	2009	2009	NUM
eistud-25731	24	20	)	)	PUNCT
eistud-25731	24	21	.	.	PUNCT
eistud-25731	25	1	statistical	statistical	ADJ
eistud-25731	25	2	methods	method	NOUN
eistud-25731	25	3	cover	cover	VERB
eistud-25731	25	4	simple	simple	ADJ
eistud-25731	25	5	correlation	correlation	NOUN
eistud-25731	25	6	and	and	CCONJ
eistud-25731	25	7	co	co	NOUN
eistud-25731	25	8	integration	integration	NOUN
eistud-25731	25	9	analysis	analysis	NOUN
eistud-25731	25	10	of	of	ADP
eistud-25731	25	11	time	time	NOUN
eistud-25731	25	12	series	series	PROPN
eistud-25731	25	13	representing	represent	VERB
eistud-25731	25	14	monetary	monetary	ADJ
eistud-25731	25	15	policy	policy	NOUN
eistud-25731	25	16	stance	stance	NOUN
eistud-25731	25	17	in	in	ADP
eistud-25731	25	18	a	a	DET
eistud-25731	25	19	form	form	NOUN
eistud-25731	25	20	of	of	ADP
eistud-25731	25	21	the	the	DET
eistud-25731	25	22	mpsi	mpsi	NOUN
eistud-25731	25	23	.	.	PUNCT
eistud-25731	26	1	keywords	keyword	NOUN
eistud-25731	26	2	:	:	PUNCT
eistud-25731	26	3	monetary	monetary	ADJ
eistud-25731	26	4	integration	integration	NOUN
eistud-25731	26	5	,	,	PUNCT
eistud-25731	26	6	mpsi	mpsi	NOUN
eistud-25731	26	7	,	,	PUNCT
eistud-25731	26	8	convergence	convergence	NOUN
eistud-25731	26	9	,	,	PUNCT
eistud-25731	26	10	monetary	monetary	ADJ
eistud-25731	26	11	policy	policy	NOUN
eistud-25731	26	12	.	.	PUNCT
eistud-25731	27	1	introduction	introduction	NOUN
eistud-25731	27	2	economic	economic	ADJ
eistud-25731	27	3	integration	integration	NOUN
eistud-25731	27	4	covers	cover	VERB
eistud-25731	27	5	both	both	CCONJ
eistud-25731	27	6	the	the	DET
eistud-25731	27	7	private	private	ADJ
eistud-25731	27	8	sector	sector	NOUN
eistud-25731	27	9	and	and	CCONJ
eistud-25731	27	10	public	public	ADJ
eistud-25731	27	11	institutions	institution	NOUN
eistud-25731	27	12	shaping	shape	VERB
eistud-25731	27	13	economic	economic	ADJ
eistud-25731	27	14	policies	policy	NOUN
eistud-25731	27	15	.	.	PUNCT
eistud-25731	28	1	there	there	PRON
eistud-25731	28	2	is	be	VERB
eistud-25731	28	3	a	a	DET
eistud-25731	28	4	direct	direct	ADJ
eistud-25731	28	5	influence	influence	NOUN
eistud-25731	28	6	of	of	ADP
eistud-25731	28	7	strengthening	strengthen	VERB
eistud-25731	28	8	international	international	ADJ
eistud-25731	28	9	cooperation	cooperation	NOUN
eistud-25731	28	10	on	on	ADP
eistud-25731	28	11	effectiveness	effectiveness	NOUN
eistud-25731	28	12	of	of	ADP
eistud-25731	28	13	achieving	achieve	VERB
eistud-25731	28	14	domestic	domestic	ADJ
eistud-25731	28	15	policy	policy	NOUN
eistud-25731	28	16	goals	goal	NOUN
eistud-25731	28	17	.	.	PUNCT
eistud-25731	29	1	moving	move	VERB
eistud-25731	29	2	from	from	ADP
eistud-25731	29	3	customs	custom	NOUN
eistud-25731	29	4	unions	union	NOUN
eistud-25731	29	5	to	to	ADP
eistud-25731	29	6	common	common	ADJ
eistud-25731	29	7	markets	market	NOUN
eistud-25731	29	8	and	and	CCONJ
eistud-25731	29	9	full	full	ADJ
eistud-25731	29	10	monetary	monetary	ADJ
eistud-25731	29	11	unions	union	NOUN
eistud-25731	29	12	results	result	NOUN
eistud-25731	29	13	in	in	ADP
eistud-25731	29	14	sequential	sequential	ADJ
eistud-25731	29	15	giving	give	VERB
eistud-25731	29	16	up	up	ADP
eistud-25731	29	17	autonomy	autonomy	NOUN
eistud-25731	29	18	in	in	ADP
eistud-25731	29	19	trade	trade	NOUN
eistud-25731	29	20	policy	policy	NOUN
eistud-25731	29	21	,	,	PUNCT
eistud-25731	29	22	sectoral	sectoral	ADJ
eistud-25731	29	23	policies	policy	NOUN
eistud-25731	29	24	and	and	CCONJ
eistud-25731	29	25	finally	finally	ADV
eistud-25731	29	26	monetary	monetary	ADJ
eistud-25731	29	27	policy	policy	NOUN
eistud-25731	29	28	.	.	PUNCT
eistud-25731	30	1	the	the	DET
eistud-25731	30	2	motivation	motivation	NOUN
eistud-25731	30	3	is	be	AUX
eistud-25731	30	4	based	base	VERB
eistud-25731	30	5	on	on	ADP
eistud-25731	30	6	expectations	expectation	NOUN
eistud-25731	30	7	that	that	SCONJ
eistud-25731	30	8	microand	microand	PROPN
eistud-25731	30	9	macro	macro	ADJ
eistud-25731	30	10	-	-	NOUN
eistud-25731	30	11	level	level	NOUN
eistud-25731	30	12	benefits	benefit	NOUN
eistud-25731	30	13	will	will	AUX
eistud-25731	30	14	overweight	overweight	VERB
eistud-25731	30	15	any	any	DET
eistud-25731	30	16	potentially	potentially	ADV
eistud-25731	30	17	associated	associate	VERB
eistud-25731	30	18	costs	cost	NOUN
eistud-25731	30	19	.	.	PUNCT
eistud-25731	31	1	the	the	DET
eistud-25731	31	2	most	most	ADV
eistud-25731	31	3	important	important	ADJ
eistud-25731	31	4	costs	cost	NOUN
eistud-25731	31	5	are	be	AUX
eistud-25731	31	6	recognized	recognize	VERB
eistud-25731	31	7	as	as	ADP
eistud-25731	31	8	an	an	DET
eistud-25731	31	9	inability	inability	NOUN
eistud-25731	31	10	to	to	PART
eistud-25731	31	11	introduce	introduce	VERB
eistud-25731	31	12	country	country	NOUN
eistud-25731	31	13	-	-	PUNCT
eistud-25731	31	14	specific	specific	ADJ
eistud-25731	31	15	measures	measure	NOUN
eistud-25731	31	16	,	,	PUNCT
eistud-25731	31	17	when	when	SCONJ
eistud-25731	31	18	needed	need	VERB
eistud-25731	31	19	.	.	PUNCT
eistud-25731	32	1	this	this	PRON
eistud-25731	32	2	is	be	AUX
eistud-25731	32	3	already	already	ADV
eistud-25731	32	4	at	at	ADP
eistud-25731	32	5	the	the	DET
eistud-25731	32	6	stage	stage	NOUN
eistud-25731	32	7	of	of	ADP
eistud-25731	32	8	full	full	ADJ
eistud-25731	32	9	economic	economic	ADJ
eistud-25731	32	10	union	union	NOUN
eistud-25731	32	11	with	with	ADP
eistud-25731	32	12	three	three	NUM
eistud-25731	32	13	freedoms	freedom	NOUN
eistud-25731	32	14	of	of	ADP
eistud-25731	32	15	the	the	DET
eistud-25731	32	16	common	common	ADJ
eistud-25731	32	17	market	market	NOUN
eistud-25731	32	18	,	,	PUNCT
eistud-25731	32	19	when	when	SCONJ
eistud-25731	32	20	domestic	domestic	ADJ
eistud-25731	32	21	monetary	monetary	ADJ
eistud-25731	32	22	policy	policy	NOUN
eistud-25731	32	23	starts	start	VERB
eistud-25731	32	24	to	to	PART
eistud-25731	32	25	loose	loose	VERB
eistud-25731	32	26	its	its	PRON
eistud-25731	32	27	effectiveness	effectiveness	NOUN
eistud-25731	32	28	.	.	PUNCT
eistud-25731	33	1	this	this	PRON
eistud-25731	33	2	is	be	AUX
eistud-25731	33	3	a	a	DET
eistud-25731	33	4	consequence	consequence	NOUN
eistud-25731	33	5	of	of	ADP
eistud-25731	33	6	an	an	DET
eistud-25731	33	7	access	access	NOUN
eistud-25731	33	8	to	to	ADP
eistud-25731	33	9	a	a	DET
eistud-25731	33	10	broad	broad	ADJ
eistud-25731	33	11	selection	selection	NOUN
eistud-25731	33	12	of	of	ADP
eistud-25731	33	13	financial	financial	ADJ
eistud-25731	33	14	instruments	instrument	NOUN
eistud-25731	33	15	by	by	ADP
eistud-25731	33	16	general	general	PROPN
eistud-25731	33	17	issn	issn	PROPN
eistud-25731	33	18	1822	1822	NUM
eistud-25731	33	19	-	-	SYM
eistud-25731	33	20	8402	8402	NUM
eistud-25731	33	21	european	european	ADJ
eistud-25731	33	22	integration	integration	NOUN
eistud-25731	33	23	studies	study	NOUN
eistud-25731	33	24	.	.	PUNCT
eistud-25731	34	1	2009	2009	NUM
eistud-25731	34	2	.	.	PUNCT
eistud-25731	35	1	no	no	DET
eistud-25731	35	2	3	3	NUM
eistud-25731	35	3	122	122	NUM
eistud-25731	35	4	public	public	NOUN
eistud-25731	35	5	.	.	PUNCT
eistud-25731	36	1	in	in	ADP
eistud-25731	36	2	such	such	DET
eistud-25731	36	3	a	a	DET
eistud-25731	36	4	setting	setting	NOUN
eistud-25731	36	5	,	,	PUNCT
eistud-25731	36	6	controlling	control	VERB
eistud-25731	36	7	nominal	nominal	ADJ
eistud-25731	36	8	variables	variable	NOUN
eistud-25731	36	9	requires	require	VERB
eistud-25731	36	10	additional	additional	ADJ
eistud-25731	36	11	instruments	instrument	NOUN
eistud-25731	36	12	and	and	CCONJ
eistud-25731	36	13	some	some	PRON
eistud-25731	36	14	of	of	ADP
eistud-25731	36	15	the	the	DET
eistud-25731	36	16	standard	standard	ADJ
eistud-25731	36	17	tools	tool	NOUN
eistud-25731	36	18	are	be	AUX
eistud-25731	36	19	less	less	ADV
eistud-25731	36	20	effective	effective	ADJ
eistud-25731	36	21	.	.	PUNCT
eistud-25731	37	1	in	in	ADP
eistud-25731	37	2	particular	particular	ADJ
eistud-25731	37	3	,	,	PUNCT
eistud-25731	37	4	diversification	diversification	NOUN
eistud-25731	37	5	and	and	CCONJ
eistud-25731	37	6	low	low	ADJ
eistud-25731	37	7	-	-	PUNCT
eistud-25731	37	8	cost	cost	NOUN
eistud-25731	37	9	substitution	substitution	NOUN
eistud-25731	37	10	of	of	ADP
eistud-25731	37	11	financial	financial	ADJ
eistud-25731	37	12	assets	asset	NOUN
eistud-25731	37	13	worldwide	worldwide	ADV
eistud-25731	37	14	results	result	VERB
eistud-25731	37	15	in	in	ADP
eistud-25731	37	16	a	a	DET
eistud-25731	37	17	drop	drop	NOUN
eistud-25731	37	18	of	of	ADP
eistud-25731	37	19	efficiency	efficiency	NOUN
eistud-25731	37	20	with	with	ADP
eistud-25731	37	21	most	most	ADJ
eistud-25731	37	22	of	of	ADP
eistud-25731	37	23	monetary	monetary	ADJ
eistud-25731	37	24	policy	policy	NOUN
eistud-25731	37	25	channels	channel	NOUN
eistud-25731	37	26	.	.	PUNCT
eistud-25731	38	1	loss	loss	NOUN
eistud-25731	38	2	of	of	ADP
eistud-25731	38	3	effectiveness	effectiveness	NOUN
eistud-25731	38	4	is	be	AUX
eistud-25731	38	5	not	not	PART
eistud-25731	38	6	a	a	DET
eistud-25731	38	7	problem	problem	NOUN
eistud-25731	38	8	in	in	ADP
eistud-25731	38	9	the	the	DET
eistud-25731	38	10	eu	eu	PROPN
eistud-25731	38	11	economy	economy	NOUN
eistud-25731	38	12	,	,	PUNCT
eistud-25731	38	13	as	as	ADV
eistud-25731	38	14	long	long	ADV
eistud-25731	38	15	as	as	SCONJ
eistud-25731	38	16	economic	economic	ADJ
eistud-25731	38	17	activity	activity	NOUN
eistud-25731	38	18	in	in	ADP
eistud-25731	38	19	every	every	DET
eistud-25731	38	20	country	country	NOUN
eistud-25731	38	21	develops	develop	VERB
eistud-25731	38	22	according	accord	VERB
eistud-25731	38	23	to	to	ADP
eistud-25731	38	24	similar	similar	ADJ
eistud-25731	38	25	paths	path	NOUN
eistud-25731	38	26	.	.	PUNCT
eistud-25731	39	1	then	then	ADV
eistud-25731	39	2	the	the	DET
eistud-25731	39	3	real	real	ADJ
eistud-25731	39	4	interest	interest	NOUN
eistud-25731	39	5	rate	rate	NOUN
eistud-25731	39	6	differentials	differential	NOUN
eistud-25731	39	7	should	should	AUX
eistud-25731	39	8	decrease	decrease	VERB
eistud-25731	39	9	for	for	ADP
eistud-25731	39	10	assets	asset	NOUN
eistud-25731	39	11	denominated	denominate	VERB
eistud-25731	39	12	in	in	ADP
eistud-25731	39	13	different	different	ADJ
eistud-25731	39	14	currencies	currency	NOUN
eistud-25731	39	15	.	.	PUNCT
eistud-25731	40	1	as	as	ADP
eistud-25731	40	2	a	a	DET
eistud-25731	40	3	consequence	consequence	NOUN
eistud-25731	40	4	we	we	PRON
eistud-25731	40	5	observe	observe	VERB
eistud-25731	40	6	a	a	DET
eistud-25731	40	7	very	very	ADV
eistud-25731	40	8	similar	similar	ADJ
eistud-25731	40	9	monetary	monetary	ADJ
eistud-25731	40	10	policy	policy	NOUN
eistud-25731	40	11	stance	stance	NOUN
eistud-25731	40	12	among	among	ADP
eistud-25731	40	13	countries	country	NOUN
eistud-25731	40	14	.	.	PUNCT
eistud-25731	41	1	attempts	attempt	NOUN
eistud-25731	41	2	to	to	PART
eistud-25731	41	3	conduct	conduct	VERB
eistud-25731	41	4	significantly	significantly	ADV
eistud-25731	41	5	different	different	ADJ
eistud-25731	41	6	monetary	monetary	ADJ
eistud-25731	41	7	policy	policy	NOUN
eistud-25731	41	8	would	would	AUX
eistud-25731	41	9	be	be	AUX
eistud-25731	41	10	inducing	induce	VERB
eistud-25731	41	11	monetary	monetary	ADJ
eistud-25731	41	12	shocks	shock	NOUN
eistud-25731	41	13	leading	lead	VERB
eistud-25731	41	14	to	to	ADP
eistud-25731	41	15	capital	capital	NOUN
eistud-25731	41	16	flows	flow	NOUN
eistud-25731	41	17	.	.	PUNCT
eistud-25731	42	1	therefore	therefore	ADV
eistud-25731	42	2	,	,	PUNCT
eistud-25731	42	3	as	as	ADV
eistud-25731	42	4	long	long	ADV
eistud-25731	42	5	as	as	SCONJ
eistud-25731	42	6	business	business	NOUN
eistud-25731	42	7	cycles	cycle	NOUN
eistud-25731	42	8	are	be	AUX
eistud-25731	42	9	highly	highly	ADV
eistud-25731	42	10	positively	positively	ADV
eistud-25731	42	11	correlated	correlate	VERB
eistud-25731	42	12	in	in	ADP
eistud-25731	42	13	a	a	DET
eistud-25731	42	14	group	group	NOUN
eistud-25731	42	15	of	of	ADP
eistud-25731	42	16	integrated	integrate	VERB
eistud-25731	42	17	countries	country	NOUN
eistud-25731	42	18	,	,	PUNCT
eistud-25731	42	19	monetary	monetary	ADJ
eistud-25731	42	20	policy	policy	NOUN
eistud-25731	42	21	should	should	AUX
eistud-25731	42	22	also	also	ADV
eistud-25731	42	23	be	be	AUX
eistud-25731	42	24	similar	similar	ADJ
eistud-25731	42	25	in	in	ADP
eistud-25731	42	26	its	its	PRON
eistud-25731	42	27	stance	stance	NOUN
eistud-25731	42	28	.	.	PUNCT
eistud-25731	43	1	the	the	DET
eistud-25731	43	2	scientific	scientific	ADJ
eistud-25731	43	3	problem	problem	NOUN
eistud-25731	43	4	undertaken	undertake	VERB
eistud-25731	43	5	in	in	ADP
eistud-25731	43	6	this	this	DET
eistud-25731	43	7	paper	paper	NOUN
eistud-25731	43	8	deals	deal	NOUN
eistud-25731	43	9	with	with	ADP
eistud-25731	43	10	similarity	similarity	NOUN
eistud-25731	43	11	of	of	ADP
eistud-25731	43	12	monetary	monetary	ADJ
eistud-25731	43	13	policy	policy	NOUN
eistud-25731	43	14	stance	stance	NOUN
eistud-25731	43	15	in	in	ADP
eistud-25731	43	16	a	a	DET
eistud-25731	43	17	group	group	NOUN
eistud-25731	43	18	of	of	ADP
eistud-25731	43	19	integrated	integrate	VERB
eistud-25731	43	20	countries	country	NOUN
eistud-25731	43	21	that	that	PRON
eistud-25731	43	22	still	still	ADV
eistud-25731	43	23	maintain	maintain	VERB
eistud-25731	43	24	their	their	PRON
eistud-25731	43	25	national	national	ADJ
eistud-25731	43	26	currencies	currency	NOUN
eistud-25731	43	27	(	(	PUNCT
eistud-25731	43	28	estonia	estonia	PROPN
eistud-25731	43	29	,	,	PUNCT
eistud-25731	43	30	latvia	latvia	PROPN
eistud-25731	43	31	,	,	PUNCT
eistud-25731	43	32	lithuania	lithuania	PROPN
eistud-25731	43	33	,	,	PUNCT
eistud-25731	43	34	poland	poland	PROPN
eistud-25731	43	35	)	)	PUNCT
eistud-25731	43	36	.	.	PUNCT
eistud-25731	44	1	novelty	novelty	NOUN
eistud-25731	44	2	of	of	ADP
eistud-25731	44	3	the	the	DET
eistud-25731	44	4	proposed	propose	VERB
eistud-25731	44	5	research	research	NOUN
eistud-25731	44	6	results	result	NOUN
eistud-25731	44	7	from	from	ADP
eistud-25731	44	8	the	the	DET
eistud-25731	44	9	fact	fact	NOUN
eistud-25731	44	10	that	that	SCONJ
eistud-25731	44	11	this	this	PRON
eistud-25731	44	12	was	be	AUX
eistud-25731	44	13	not	not	PART
eistud-25731	44	14	studied	study	VERB
eistud-25731	44	15	before	before	ADV
eistud-25731	44	16	.	.	PUNCT
eistud-25731	45	1	there	there	PRON
eistud-25731	45	2	are	be	VERB
eistud-25731	45	3	no	no	DET
eistud-25731	45	4	studies	study	NOUN
eistud-25731	45	5	of	of	ADP
eistud-25731	45	6	monetary	monetary	ADJ
eistud-25731	45	7	policy	policy	NOUN
eistud-25731	45	8	stance	stance	NOUN
eistud-25731	45	9	covering	cover	VERB
eistud-25731	45	10	more	more	ADJ
eistud-25731	45	11	than	than	ADP
eistud-25731	45	12	one	one	NUM
eistud-25731	45	13	country	country	NOUN
eistud-25731	45	14	at	at	ADP
eistud-25731	45	15	once	once	ADV
eistud-25731	45	16	.	.	PUNCT
eistud-25731	46	1	in	in	ADP
eistud-25731	46	2	addition	addition	NOUN
eistud-25731	46	3	,	,	PUNCT
eistud-25731	46	4	concerning	concern	VERB
eistud-25731	46	5	the	the	DET
eistud-25731	46	6	implemented	implement	VERB
eistud-25731	46	7	nominal	nominal	ADJ
eistud-25731	46	8	convergence	convergence	NOUN
eistud-25731	46	9	criteria	criterion	NOUN
eistud-25731	46	10	–	–	PUNCT
eistud-25731	46	11	the	the	DET
eistud-25731	46	12	convergence	convergence	NOUN
eistud-25731	46	13	of	of	ADP
eistud-25731	46	14	monetary	monetary	ADJ
eistud-25731	46	15	policy	policy	NOUN
eistud-25731	46	16	stance	stance	NOUN
eistud-25731	46	17	is	be	AUX
eistud-25731	46	18	not	not	PART
eistud-25731	46	19	included	include	VERB
eistud-25731	46	20	,	,	PUNCT
eistud-25731	46	21	despite	despite	SCONJ
eistud-25731	46	22	it	it	PRON
eistud-25731	46	23	seems	seem	VERB
eistud-25731	46	24	a	a	DET
eistud-25731	46	25	natural	natural	ADJ
eistud-25731	46	26	prerequisite	prerequisite	NOUN
eistud-25731	46	27	for	for	ADP
eistud-25731	46	28	smooth	smooth	ADJ
eistud-25731	46	29	substituting	substitute	VERB
eistud-25731	46	30	a	a	DET
eistud-25731	46	31	domestic	domestic	ADJ
eistud-25731	46	32	monetary	monetary	ADJ
eistud-25731	46	33	policy	policy	NOUN
eistud-25731	46	34	with	with	ADP
eistud-25731	46	35	a	a	DET
eistud-25731	46	36	common	common	ADJ
eistud-25731	46	37	one	one	NUM
eistud-25731	46	38	.	.	PUNCT
eistud-25731	47	1	the	the	DET
eistud-25731	47	2	object	object	NOUN
eistud-25731	47	3	of	of	ADP
eistud-25731	47	4	the	the	DET
eistud-25731	47	5	study	study	NOUN
eistud-25731	47	6	is	be	AUX
eistud-25731	47	7	the	the	DET
eistud-25731	47	8	monetary	monetary	ADJ
eistud-25731	47	9	policy	policy	NOUN
eistud-25731	47	10	stance	stance	NOUN
eistud-25731	47	11	and	and	CCONJ
eistud-25731	47	12	its	its	PRON
eistud-25731	47	13	developments	development	NOUN
eistud-25731	47	14	in	in	ADP
eistud-25731	47	15	four	four	NUM
eistud-25731	47	16	countries	country	NOUN
eistud-25731	47	17	that	that	PRON
eistud-25731	47	18	joined	join	VERB
eistud-25731	47	19	the	the	DET
eistud-25731	47	20	eu	eu	PROPN
eistud-25731	47	21	in	in	ADP
eistud-25731	47	22	may	may	PROPN
eistud-25731	47	23	2004	2004	NUM
eistud-25731	47	24	,	,	PUNCT
eistud-25731	47	25	and	and	CCONJ
eistud-25731	47	26	which	which	PRON
eistud-25731	47	27	are	be	AUX
eistud-25731	47	28	heading	head	VERB
eistud-25731	47	29	toward	toward	ADP
eistud-25731	47	30	the	the	DET
eistud-25731	47	31	emu	emu	PROPN
eistud-25731	47	32	accession	accession	NOUN
eistud-25731	47	33	.	.	PUNCT
eistud-25731	48	1	the	the	DET
eistud-25731	48	2	analyzed	analyze	VERB
eistud-25731	48	3	period	period	NOUN
eistud-25731	48	4	covers	cover	VERB
eistud-25731	48	5	years	year	NOUN
eistud-25731	48	6	1998	1998	NUM
eistud-25731	48	7	-	-	SYM
eistud-25731	48	8	2008	2008	NUM
eistud-25731	48	9	.	.	PUNCT
eistud-25731	49	1	research	research	NOUN
eistud-25731	49	2	methods	method	NOUN
eistud-25731	49	3	cover	cover	VERB
eistud-25731	49	4	the	the	DET
eistud-25731	49	5	monetary	monetary	ADJ
eistud-25731	49	6	policy	policy	NOUN
eistud-25731	49	7	stance	stance	NOUN
eistud-25731	49	8	indicator	indicator	NOUN
eistud-25731	49	9	used	use	VERB
eistud-25731	49	10	for	for	ADP
eistud-25731	49	11	capturing	capture	VERB
eistud-25731	49	12	restrictiveness	restrictiveness	NOUN
eistud-25731	49	13	in	in	ADP
eistud-25731	49	14	a	a	DET
eistud-25731	49	15	quantitative	quantitative	ADJ
eistud-25731	49	16	form	form	NOUN
eistud-25731	49	17	and	and	CCONJ
eistud-25731	49	18	simple	simple	ADJ
eistud-25731	49	19	correlation	correlation	NOUN
eistud-25731	49	20	and	and	CCONJ
eistud-25731	49	21	cointegration	cointegration	NOUN
eistud-25731	49	22	analysis	analysis	NOUN
eistud-25731	49	23	.	.	PUNCT
eistud-25731	50	1	the	the	DET
eistud-25731	50	2	paper	paper	NOUN
eistud-25731	50	3	is	be	AUX
eistud-25731	50	4	composed	compose	VERB
eistud-25731	50	5	as	as	SCONJ
eistud-25731	50	6	follows	follow	VERB
eistud-25731	50	7	.	.	PUNCT
eistud-25731	51	1	part	part	PROPN
eistud-25731	51	2	ii	ii	PROPN
eistud-25731	51	3	discusses	discuss	VERB
eistud-25731	51	4	shortly	shortly	ADV
eistud-25731	51	5	methods	method	NOUN
eistud-25731	51	6	for	for	ADP
eistud-25731	51	7	measuring	measure	VERB
eistud-25731	51	8	monetary	monetary	ADJ
eistud-25731	51	9	policy	policy	NOUN
eistud-25731	51	10	and	and	CCONJ
eistud-25731	51	11	introduces	introduce	NOUN
eistud-25731	51	12	briefly	briefly	NOUN
eistud-25731	51	13	methodology	methodology	NOUN
eistud-25731	51	14	of	of	ADP
eistud-25731	51	15	capturing	capture	VERB
eistud-25731	51	16	restrictiveness	restrictiveness	NOUN
eistud-25731	51	17	of	of	ADP
eistud-25731	51	18	monetary	monetary	ADJ
eistud-25731	51	19	policy	policy	NOUN
eistud-25731	51	20	for	for	ADP
eistud-25731	51	21	international	international	ADJ
eistud-25731	51	22	comparative	comparative	ADJ
eistud-25731	51	23	studies	study	NOUN
eistud-25731	51	24	.	.	PUNCT
eistud-25731	52	1	part	part	NOUN
eistud-25731	52	2	iii	iii	PROPN
eistud-25731	52	3	is	be	AUX
eistud-25731	52	4	an	an	DET
eistud-25731	52	5	empirical	empirical	ADJ
eistud-25731	52	6	study	study	NOUN
eistud-25731	52	7	of	of	ADP
eistud-25731	52	8	monetary	monetary	ADJ
eistud-25731	52	9	policy	policy	NOUN
eistud-25731	52	10	stance	stance	NOUN
eistud-25731	52	11	convergence	convergence	NOUN
eistud-25731	52	12	of	of	ADP
eistud-25731	52	13	four	four	NUM
eistud-25731	52	14	countries	country	NOUN
eistud-25731	52	15	from	from	ADP
eistud-25731	52	16	1998	1998	NUM
eistud-25731	52	17	to	to	ADP
eistud-25731	52	18	2008	2008	NUM
eistud-25731	52	19	.	.	PUNCT
eistud-25731	53	1	the	the	DET
eistud-25731	53	2	last	last	ADJ
eistud-25731	53	3	part	part	NOUN
eistud-25731	53	4	concludes	conclude	VERB
eistud-25731	53	5	.	.	PUNCT
eistud-25731	54	1	a	a	DET
eistud-25731	54	2	new	new	ADJ
eistud-25731	54	3	method	method	NOUN
eistud-25731	54	4	to	to	PART
eistud-25731	54	5	capture	capture	VERB
eistud-25731	54	6	monetary	monetary	ADJ
eistud-25731	54	7	policy	policy	NOUN
eistud-25731	54	8	stance	stance	NOUN
eistud-25731	54	9	there	there	PRON
eistud-25731	54	10	is	be	VERB
eistud-25731	54	11	a	a	DET
eistud-25731	54	12	variety	variety	NOUN
eistud-25731	54	13	of	of	ADP
eistud-25731	54	14	variables	variable	NOUN
eistud-25731	54	15	that	that	PRON
eistud-25731	54	16	were	be	AUX
eistud-25731	54	17	used	use	VERB
eistud-25731	54	18	as	as	ADP
eistud-25731	54	19	proxies	proxy	NOUN
eistud-25731	54	20	of	of	ADP
eistud-25731	54	21	monetary	monetary	ADJ
eistud-25731	54	22	policy	policy	NOUN
eistud-25731	54	23	stance	stance	NOUN
eistud-25731	54	24	.	.	PUNCT
eistud-25731	55	1	there	there	PRON
eistud-25731	55	2	were	be	VERB
eistud-25731	55	3	however	however	ADV
eistud-25731	55	4	so	so	ADV
eistud-25731	55	5	far	far	ADV
eistud-25731	55	6	no	no	DET
eistud-25731	55	7	methods	method	NOUN
eistud-25731	55	8	that	that	PRON
eistud-25731	55	9	were	be	AUX
eistud-25731	55	10	developed	develop	VERB
eistud-25731	55	11	for	for	ADP
eistud-25731	55	12	international	international	ADJ
eistud-25731	55	13	comparative	comparative	ADJ
eistud-25731	55	14	studies	study	NOUN
eistud-25731	55	15	in	in	ADP
eistud-25731	55	16	this	this	DET
eistud-25731	55	17	area	area	NOUN
eistud-25731	55	18	.	.	PUNCT
eistud-25731	56	1	this	this	PRON
eistud-25731	56	2	was	be	AUX
eistud-25731	56	3	because	because	SCONJ
eistud-25731	56	4	most	most	ADJ
eistud-25731	56	5	of	of	ADP
eistud-25731	56	6	methods	method	NOUN
eistud-25731	56	7	offered	offer	VERB
eistud-25731	56	8	up	up	ADP
eistud-25731	56	9	to	to	ADP
eistud-25731	56	10	date	date	NOUN
eistud-25731	56	11	were	be	AUX
eistud-25731	56	12	very	very	ADV
eistud-25731	56	13	case	case	NOUN
eistud-25731	56	14	-	-	PUNCT
eistud-25731	56	15	specific	specific	ADJ
eistud-25731	56	16	and	and	CCONJ
eistud-25731	56	17	designed	design	VERB
eistud-25731	56	18	for	for	ADP
eistud-25731	56	19	a	a	DET
eistud-25731	56	20	particular	particular	ADJ
eistud-25731	56	21	country	country	NOUN
eistud-25731	56	22	.	.	PUNCT
eistud-25731	57	1	1	1	NUM
eistud-25731	58	1	according	accord	VERB
eistud-25731	58	2	to	to	ADP
eistud-25731	58	3	bernanke	bernanke	PROPN
eistud-25731	58	4	and	and	CCONJ
eistud-25731	58	5	mihov	mihov	PROPN
eistud-25731	58	6	(	(	PUNCT
eistud-25731	58	7	1998	1998	NUM
eistud-25731	58	8	)	)	PUNCT
eistud-25731	58	9	,	,	PUNCT
eistud-25731	58	10	the	the	DET
eistud-25731	58	11	first	first	ADJ
eistud-25731	58	12	methods	method	NOUN
eistud-25731	58	13	of	of	ADP
eistud-25731	58	14	capturing	capture	VERB
eistud-25731	58	15	monetary	monetary	ADJ
eistud-25731	58	16	policy	policy	NOUN
eistud-25731	58	17	stance	stance	NOUN
eistud-25731	58	18	were	be	AUX
eistud-25731	58	19	based	base	VERB
eistud-25731	58	20	on	on	ADP
eistud-25731	58	21	rates	rate	NOUN
eistud-25731	58	22	of	of	ADP
eistud-25731	58	23	change	change	NOUN
eistud-25731	58	24	of	of	ADP
eistud-25731	58	25	money	money	NOUN
eistud-25731	58	26	aggregates	aggregate	NOUN
eistud-25731	58	27	.	.	PUNCT
eistud-25731	59	1	this	this	PRON
eistud-25731	59	2	was	be	AUX
eistud-25731	59	3	methodologically	methodologically	ADV
eistud-25731	59	4	incorrect	incorrect	ADJ
eistud-25731	59	5	approach	approach	NOUN
eistud-25731	59	6	since	since	SCONJ
eistud-25731	59	7	the	the	DET
eistud-25731	59	8	actual	actual	ADJ
eistud-25731	59	9	restrictiveness	restrictiveness	ADJ
eistud-25731	59	10	developments	development	NOUN
eistud-25731	59	11	depend	depend	VERB
eistud-25731	59	12	on	on	ADP
eistud-25731	59	13	a	a	DET
eistud-25731	59	14	final	final	ADJ
eistud-25731	59	15	result	result	NOUN
eistud-25731	59	16	of	of	ADP
eistud-25731	59	17	interaction	interaction	NOUN
eistud-25731	59	18	between	between	ADP
eistud-25731	59	19	money	money	NOUN
eistud-25731	59	20	demand	demand	NOUN
eistud-25731	59	21	and	and	CCONJ
eistud-25731	59	22	money	money	NOUN
eistud-25731	59	23	supply	supply	NOUN
eistud-25731	59	24	.	.	PUNCT
eistud-25731	60	1	when	when	SCONJ
eistud-25731	60	2	measuring	measure	VERB
eistud-25731	60	3	monetary	monetary	ADJ
eistud-25731	60	4	policy	policy	NOUN
eistud-25731	60	5	stance	stance	NOUN
eistud-25731	60	6	,	,	PUNCT
eistud-25731	60	7	using	use	VERB
eistud-25731	60	8	only	only	ADV
eistud-25731	60	9	one	one	NUM
eistud-25731	60	10	of	of	ADP
eistud-25731	60	11	these	these	DET
eistud-25731	60	12	two	two	NUM
eistud-25731	60	13	categories	category	NOUN
eistud-25731	60	14	,	,	PUNCT
eistud-25731	60	15	one	one	PRON
eistud-25731	60	16	gets	get	VERB
eistud-25731	60	17	an	an	DET
eistud-25731	60	18	improper	improper	ADJ
eistud-25731	60	19	image	image	NOUN
eistud-25731	60	20	.	.	PUNCT
eistud-25731	61	1	another	another	DET
eistud-25731	61	2	approach	approach	NOUN
eistud-25731	61	3	to	to	ADP
eistud-25731	61	4	measuring	measure	VERB
eistud-25731	61	5	monetary	monetary	ADJ
eistud-25731	61	6	policy	policy	NOUN
eistud-25731	61	7	was	be	AUX
eistud-25731	61	8	introduced	introduce	VERB
eistud-25731	61	9	by	by	ADP
eistud-25731	61	10	friedman	friedman	PROPN
eistud-25731	61	11	and	and	CCONJ
eistud-25731	61	12	schwartz	schwartz	PROPN
eistud-25731	61	13	(	(	PUNCT
eistud-25731	61	14	1964	1964	NUM
eistud-25731	61	15	)	)	PUNCT
eistud-25731	61	16	and	and	CCONJ
eistud-25731	61	17	developed	develop	VERB
eistud-25731	61	18	by	by	ADP
eistud-25731	61	19	romer	romer	NOUN
eistud-25731	61	20	and	and	CCONJ
eistud-25731	61	21	romer	romer	NOUN
eistud-25731	61	22	(	(	PUNCT
eistud-25731	61	23	1989	1989	NUM
eistud-25731	61	24	)	)	PUNCT
eistud-25731	61	25	and	and	CCONJ
eistud-25731	61	26	boschen	boschen	PROPN
eistud-25731	61	27	and	and	CCONJ
eistud-25731	61	28	mills	mill	NOUN
eistud-25731	61	29	(	(	PUNCT
eistud-25731	61	30	1991	1991	NUM
eistud-25731	61	31	)	)	PUNCT
eistud-25731	61	32	.	.	PUNCT
eistud-25731	62	1	this	this	DET
eistud-25731	62	2	method	method	NOUN
eistud-25731	62	3	is	be	AUX
eistud-25731	62	4	based	base	VERB
eistud-25731	62	5	on	on	ADP
eistud-25731	62	6	qualitative	qualitative	ADJ
eistud-25731	62	7	information	information	NOUN
eistud-25731	62	8	derived	derive	VERB
eistud-25731	62	9	from	from	ADP
eistud-25731	62	10	official	official	ADJ
eistud-25731	62	11	documents	document	NOUN
eistud-25731	62	12	of	of	ADP
eistud-25731	62	13	a	a	DET
eistud-25731	62	14	decision	decision	NOUN
eistud-25731	62	15	-	-	PUNCT
eistud-25731	62	16	making	make	VERB
eistud-25731	62	17	body	body	NOUN
eistud-25731	62	18	(	(	PUNCT
eistud-25731	62	19	a	a	DET
eistud-25731	62	20	central	central	ADJ
eistud-25731	62	21	bank	bank	NOUN
eistud-25731	62	22	or	or	CCONJ
eistud-25731	62	23	an	an	DET
eistud-25731	62	24	internal	internal	ADJ
eistud-25731	62	25	committee	committee	NOUN
eistud-25731	62	26	)	)	PUNCT
eistud-25731	62	27	.	.	PUNCT
eistud-25731	63	1	the	the	DET
eistud-25731	63	2	main	main	ADJ
eistud-25731	63	3	disadvantage	disadvantage	NOUN
eistud-25731	63	4	here	here	ADV
eistud-25731	63	5	is	be	AUX
eistud-25731	63	6	subjectivity	subjectivity	NOUN
eistud-25731	63	7	.	.	PUNCT
eistud-25731	64	1	another	another	DET
eistud-25731	64	2	problem	problem	NOUN
eistud-25731	64	3	is	be	AUX
eistud-25731	64	4	associated	associate	VERB
eistud-25731	64	5	with	with	ADP
eistud-25731	64	6	its	its	PRON
eistud-25731	64	7	qualitative	qualitative	ADJ
eistud-25731	64	8	nature	nature	NOUN
eistud-25731	64	9	.	.	PUNCT
eistud-25731	65	1	the	the	DET
eistud-25731	65	2	method	method	NOUN
eistud-25731	65	3	allows	allow	VERB
eistud-25731	65	4	only	only	ADV
eistud-25731	65	5	for	for	ADP
eistud-25731	65	6	recognizing	recognize	VERB
eistud-25731	65	7	timing	timing	NOUN
eistud-25731	65	8	of	of	ADP
eistud-25731	65	9	changes.2	changes.2	NOUN
eistud-25731	65	10	most	most	ADJ
eistud-25731	65	11	methods	method	NOUN
eistud-25731	65	12	used	use	VERB
eistud-25731	65	13	in	in	ADP
eistud-25731	65	14	assessing	assess	VERB
eistud-25731	65	15	restrictiveness	restrictiveness	NOUN
eistud-25731	65	16	offer	offer	VERB
eistud-25731	65	17	quantitative	quantitative	ADJ
eistud-25731	65	18	information	information	NOUN
eistud-25731	65	19	.	.	PUNCT
eistud-25731	66	1	these	these	PRON
eistud-25731	66	2	are	be	AUX
eistud-25731	66	3	:	:	PUNCT
eistud-25731	66	4	synthetic	synthetic	ADJ
eistud-25731	66	5	indexes	index	NOUN
eistud-25731	66	6	combining	combine	VERB
eistud-25731	66	7	qualitative	qualitative	NOUN
eistud-25731	66	8	and/or	and/or	CCONJ
eistud-25731	66	9			X
eistud-25731	66	10	quantitative	quantitative	ADJ
eistud-25731	66	11	information	information	NOUN
eistud-25731	66	12	(	(	PUNCT
eistud-25731	66	13	mci	mci	PROPN
eistud-25731	66	14	)	)	PUNCT
eistud-25731	66	15	,	,	PUNCT
eistud-25731	66	16	residuals	residual	NOUN
eistud-25731	66	17	of	of	ADP
eistud-25731	66	18	regression	regression	NOUN
eistud-25731	66	19	equations	equation	NOUN
eistud-25731	66	20	interpreted	interpret	VERB
eistud-25731	66	21			PROPN
eistud-25731	66	22	as	as	ADP
eistud-25731	66	23	orthogonal	orthogonal	ADJ
eistud-25731	66	24	monetary	monetary	ADJ
eistud-25731	66	25	shocks	shock	NOUN
eistud-25731	66	26	(	(	PUNCT
eistud-25731	66	27	christiano	christiano	PROPN
eistud-25731	66	28	,	,	PUNCT
eistud-25731	66	29	eichenbaum	eichenbaum	PROPN
eistud-25731	66	30	1992	1992	NUM
eistud-25731	66	31	)	)	PUNCT
eistud-25731	66	32	,	,	PUNCT
eistud-25731	66	33	difference	difference	NOUN
eistud-25731	66	34	between	between	ADP
eistud-25731	66	35	interest	interest	NOUN
eistud-25731	66	36	rates	rate	NOUN
eistud-25731	66	37	(	(	PUNCT
eistud-25731	66	38	actual	actual	ADJ
eistud-25731	66	39	and	and	CCONJ
eistud-25731	66	40			PUNCT
eistud-25731	66	41	obtained	obtain	VERB
eistud-25731	66	42	from	from	ADP
eistud-25731	66	43	the	the	DET
eistud-25731	66	44	taylor	taylor	PROPN
eistud-25731	66	45	rule	rule	NOUN
eistud-25731	66	46	)	)	PUNCT
eistud-25731	66	47	yield	yield	VERB
eistud-25731	66	48	curve,	curve,	NOUN
eistud-25731	66	49	rates	rate	NOUN
eistud-25731	66	50	of	of	ADP
eistud-25731	66	51	non	non	ADJ
eistud-25731	66	52	-	-	ADJ
eistud-25731	66	53	borrowed	borrow	VERB
eistud-25731	66	54	reserves	reserve	NOUN
eistud-25731	66	55	(	(	PUNCT
eistud-25731	66	56	bernanke	bernanke	PROPN
eistud-25731	66	57	and	and	CCONJ
eistud-25731	66	58			X
eistud-25731	66	59	mihov	mihov	PROPN
eistud-25731	66	60	1998	1998	NUM
eistud-25731	66	61	)	)	PUNCT
eistud-25731	66	62	.	.	PUNCT
eistud-25731	67	1	all	all	DET
eistud-25731	67	2	these	these	DET
eistud-25731	67	3	methods	method	NOUN
eistud-25731	67	4	were	be	AUX
eistud-25731	67	5	used	use	VERB
eistud-25731	67	6	for	for	ADP
eistud-25731	67	7	one	one	NUM
eistud-25731	67	8	-	-	PUNCT
eistud-25731	67	9	country	country	NOUN
eistud-25731	67	10	studies	study	NOUN
eistud-25731	67	11	to	to	PART
eistud-25731	67	12	answer	answer	VERB
eistud-25731	67	13	questions	question	NOUN
eistud-25731	67	14	concerning	concern	VERB
eistud-25731	67	15	monetary	monetary	ADJ
eistud-25731	67	16	policy	policy	NOUN
eistud-25731	67	17	influence	influence	NOUN
eistud-25731	67	18	on	on	ADP
eistud-25731	67	19	an	an	DET
eistud-25731	67	20	economy	economy	NOUN
eistud-25731	67	21	.	.	PUNCT
eistud-25731	68	1	none	none	NOUN
eistud-25731	68	2	of	of	ADP
eistud-25731	68	3	the	the	DET
eistud-25731	68	4	known	know	VERB
eistud-25731	68	5	studies	study	NOUN
eistud-25731	68	6	focused	focus	VERB
eistud-25731	68	7	on	on	ADP
eistud-25731	68	8	comparative	comparative	ADJ
eistud-25731	68	9	analysis	analysis	NOUN
eistud-25731	68	10	of	of	ADP
eistud-25731	68	11	monetary	monetary	ADJ
eistud-25731	68	12	policy	policy	NOUN
eistud-25731	68	13	stance	stance	NOUN
eistud-25731	68	14	developments	development	NOUN
eistud-25731	68	15	in	in	ADP
eistud-25731	68	16	a	a	DET
eistud-25731	68	17	group	group	NOUN
eistud-25731	68	18	of	of	ADP
eistud-25731	68	19	countries	country	NOUN
eistud-25731	68	20	.	.	PUNCT
eistud-25731	69	1	for	for	ADP
eistud-25731	69	2	such	such	DET
eistud-25731	69	3	a	a	DET
eistud-25731	69	4	quest	quest	NOUN
eistud-25731	69	5	to	to	PART
eistud-25731	69	6	succeed	succeed	VERB
eistud-25731	69	7	one	one	NUM
eistud-25731	69	8	requires	require	VERB
eistud-25731	69	9	a	a	DET
eistud-25731	69	10	method	method	NOUN
eistud-25731	69	11	to	to	PART
eistud-25731	69	12	measure	measure	VERB
eistud-25731	69	13	monetary	monetary	ADJ
eistud-25731	69	14	policy	policy	NOUN
eistud-25731	69	15	in	in	ADP
eistud-25731	69	16	a	a	DET
eistud-25731	69	17	way	way	NOUN
eistud-25731	69	18	that	that	PRON
eistud-25731	69	19	is	be	AUX
eistud-25731	69	20	independent	independent	ADJ
eistud-25731	69	21	from	from	ADP
eistud-25731	69	22	country	country	NOUN
eistud-25731	69	23	-	-	PUNCT
eistud-25731	69	24	specific	specific	ADJ
eistud-25731	69	25	characteristics	characteristic	NOUN
eistud-25731	69	26	.	.	PUNCT
eistud-25731	70	1	there	there	PRON
eistud-25731	70	2	is	be	VERB
eistud-25731	70	3	a	a	DET
eistud-25731	70	4	new	new	ADJ
eistud-25731	70	5	way	way	NOUN
eistud-25731	70	6	to	to	PART
eistud-25731	70	7	approach	approach	VERB
eistud-25731	70	8	monetary	monetary	ADJ
eistud-25731	70	9	policy	policy	NOUN
eistud-25731	70	10	assessment	assessment	NOUN
eistud-25731	70	11	,	,	PUNCT
eistud-25731	70	12	that	that	PRON
eistud-25731	70	13	allows	allow	VERB
eistud-25731	70	14	for	for	ADP
eistud-25731	70	15	international	international	ADJ
eistud-25731	70	16	comparative	comparative	ADJ
eistud-25731	70	17	studies	study	NOUN
eistud-25731	70	18	.	.	PUNCT
eistud-25731	71	1	theory	theory	NOUN
eistud-25731	71	2	behind	behind	ADP
eistud-25731	71	3	this	this	DET
eistud-25731	71	4	methodology	methodology	NOUN
eistud-25731	71	5	is	be	AUX
eistud-25731	71	6	derived	derive	VERB
eistud-25731	71	7	form	form	NOUN
eistud-25731	71	8	the	the	DET
eistud-25731	71	9	fisher	fisher	NOUN
eistud-25731	71	10	’s	’s	PART
eistud-25731	71	11	equation	equation	NOUN
eistud-25731	71	12	and	and	CCONJ
eistud-25731	71	13	brings	bring	VERB
eistud-25731	71	14	together	together	ADP
eistud-25731	71	15	developments	development	NOUN
eistud-25731	71	16	in	in	ADP
eistud-25731	71	17	money	money	NOUN
eistud-25731	71	18	demand	demand	NOUN
eistud-25731	71	19	and	and	CCONJ
eistud-25731	71	20	supply	supply	NOUN
eistud-25731	71	21	.	.	PUNCT
eistud-25731	72	1	this	this	DET
eistud-25731	72	2	direction	direction	NOUN
eistud-25731	72	3	of	of	ADP
eistud-25731	72	4	research	research	NOUN
eistud-25731	72	5	was	be	AUX
eistud-25731	72	6	suggested	suggest	VERB
eistud-25731	72	7	for	for	ADP
eistud-25731	72	8	many	many	ADJ
eistud-25731	72	9	years	year	NOUN
eistud-25731	72	10	by	by	ADP
eistud-25731	72	11	many	many	ADJ
eistud-25731	72	12	authors	author	NOUN
eistud-25731	72	13	(	(	PUNCT
eistud-25731	72	14	christiano	christiano	PROPN
eistud-25731	72	15	,	,	PUNCT
eistud-25731	72	16	motto	motto	NOUN
eistud-25731	72	17	,	,	PUNCT
eistud-25731	72	18	rostagno	rostagno	NOUN
eistud-25731	72	19	2007	2007	NUM
eistud-25731	72	20	,	,	PUNCT
eistud-25731	72	21	leeper	leeper	PROPN
eistud-25731	72	22	and	and	CCONJ
eistud-25731	72	23	roush	roush	PROPN
eistud-25731	72	24	2003	2003	NUM
eistud-25731	72	25	,	,	PUNCT
eistud-25731	72	26	mulligan	mulligan	PROPN
eistud-25731	72	27	and	and	CCONJ
eistud-25731	72	28	sala	sala	PROPN
eistud-25731	72	29	–	–	PUNCT
eistud-25731	72	30	i	i	PRON
eistud-25731	72	31	–	–	PUNCT
eistud-25731	72	32	martin	martin	PROPN
eistud-25731	72	33	1997	1997	NUM
eistud-25731	72	34	,	,	PUNCT
eistud-25731	72	35	imf	imf	PROPN
eistud-25731	72	36	2008	2008	NUM
eistud-25731	72	37	)	)	PUNCT
eistud-25731	72	38	.	.	PUNCT
eistud-25731	73	1	reynard	reynard	PROPN
eistud-25731	73	2	(	(	PUNCT
eistud-25731	73	3	2007	2007	NUM
eistud-25731	73	4	)	)	PUNCT
eistud-25731	73	5	claims	claim	VERB
eistud-25731	73	6	that	that	SCONJ
eistud-25731	73	7	short	short	ADJ
eistud-25731	73	8	-	-	PUNCT
eistud-25731	73	9	term	term	NOUN
eistud-25731	73	10	velocity	velocity	NOUN
eistud-25731	73	11	shocks	shock	NOUN
eistud-25731	73	12	are	be	AUX
eistud-25731	73	13	an	an	DET
eistud-25731	73	14	immanent	immanent	ADJ
eistud-25731	73	15	element	element	NOUN
eistud-25731	73	16	of	of	ADP
eistud-25731	73	17	the	the	DET
eistud-25731	73	18	monetary	monetary	ADJ
eistud-25731	73	19	transmission	transmission	NOUN
eistud-25731	73	20	.	.	PUNCT
eistud-25731	74	1	therefore	therefore	ADV
eistud-25731	74	2	,	,	PUNCT
eistud-25731	74	3	there	there	PRON
eistud-25731	74	4	is	be	VERB
eistud-25731	74	5	an	an	DET
eistud-25731	74	6	alternative	alternative	ADJ
eistud-25731	74	7	interpretation	interpretation	NOUN
eistud-25731	74	8	for	for	ADP
eistud-25731	74	9	those	those	DET
eistud-25731	74	10	short	short	ADJ
eistud-25731	74	11	-	-	PUNCT
eistud-25731	74	12	term	term	NOUN
eistud-25731	74	13	developments	development	NOUN
eistud-25731	74	14	.	.	PUNCT
eistud-25731	75	1	increases	increase	NOUN
eistud-25731	75	2	in	in	ADP
eistud-25731	75	3	velocity	velocity	NOUN
eistud-25731	75	4	of	of	ADP
eistud-25731	75	5	circulation	circulation	NOUN
eistud-25731	75	6	means	mean	VERB
eistud-25731	75	7	that	that	SCONJ
eistud-25731	75	8	the	the	DET
eistud-25731	75	9	transaction	transaction	NOUN
eistud-25731	75	10	money	money	NOUN
eistud-25731	75	11	supply	supply	NOUN
eistud-25731	75	12	shrinks	shrink	VERB
eistud-25731	75	13	in	in	ADP
eistud-25731	75	14	relation	relation	NOUN
eistud-25731	75	15	to	to	ADP
eistud-25731	75	16	transaction	transaction	NOUN
eistud-25731	75	17	demand	demand	NOUN
eistud-25731	75	18	for	for	ADP
eistud-25731	75	19	money	money	NOUN
eistud-25731	75	20	.	.	PUNCT
eistud-25731	76	1	less	less	ADJ
eistud-25731	76	2	money	money	NOUN
eistud-25731	76	3	should	should	AUX
eistud-25731	76	4	be	be	AUX
eistud-25731	76	5	interpreted	interpret	VERB
eistud-25731	76	6	as	as	ADP
eistud-25731	76	7	a	a	DET
eistud-25731	76	8	move	move	NOUN
eistud-25731	76	9	toward	toward	ADP
eistud-25731	76	10	a	a	DET
eistud-25731	76	11	more	more	ADV
eistud-25731	76	12	restrictive	restrictive	ADJ
eistud-25731	76	13	policy	policy	NOUN
eistud-25731	76	14	stance	stance	NOUN
eistud-25731	76	15	.	.	PUNCT
eistud-25731	77	1	stable	stable	ADJ
eistud-25731	77	2	money	money	NOUN
eistud-25731	77	3	velocity	velocity	NOUN
eistud-25731	77	4	in	in	ADP
eistud-25731	77	5	2	2	NUM
eistud-25731	77	6	shapiro	shapiro	NOUN
eistud-25731	77	7	(	(	PUNCT
eistud-25731	77	8	1994	1994	NUM
eistud-25731	77	9	)	)	PUNCT
eistud-25731	77	10	offers	offer	VERB
eistud-25731	77	11	another	another	DET
eistud-25731	77	12	disadvantage	disadvantage	NOUN
eistud-25731	77	13	in	in	ADP
eistud-25731	77	14	the	the	DET
eistud-25731	77	15	form	form	NOUN
eistud-25731	77	16	of	of	ADP
eistud-25731	77	17	inability	inability	NOUN
eistud-25731	77	18	to	to	PART
eistud-25731	77	19	divide	divide	VERB
eistud-25731	77	20	all	all	DET
eistud-25731	77	21	considered	consider	VERB
eistud-25731	77	22	factors	factor	NOUN
eistud-25731	77	23	into	into	ADP
eistud-25731	77	24	categories	category	NOUN
eistud-25731	77	25	of	of	ADP
eistud-25731	77	26	dependent	dependent	ADJ
eistud-25731	77	27	and	and	CCONJ
eistud-25731	77	28	independent	independent	ADJ
eistud-25731	77	29	from	from	ADP
eistud-25731	77	30	monetary	monetary	ADJ
eistud-25731	77	31	policy	policy	NOUN
eistud-25731	77	32	.	.	PUNCT
eistud-25731	78	1	1	1	NUM
eistud-25731	78	2	this	this	PRON
eistud-25731	78	3	is	be	AUX
eistud-25731	78	4	because	because	SCONJ
eistud-25731	78	5	the	the	DET
eistud-25731	78	6	way	way	NOUN
eistud-25731	78	7	of	of	ADP
eistud-25731	78	8	defining	define	VERB
eistud-25731	78	9	monetary	monetary	ADJ
eistud-25731	78	10	policy	policy	NOUN
eistud-25731	78	11	,	,	PUNCT
eistud-25731	78	12	operational	operational	ADJ
eistud-25731	78	13	instruments	instrument	NOUN
eistud-25731	78	14	used	use	VERB
eistud-25731	78	15	as	as	ADV
eistud-25731	78	16	well	well	ADV
eistud-25731	78	17	as	as	ADP
eistud-25731	78	18	characteristics	characteristic	NOUN
eistud-25731	78	19	of	of	ADP
eistud-25731	78	20	financial	financial	ADJ
eistud-25731	78	21	markets	market	NOUN
eistud-25731	78	22	were	be	AUX
eistud-25731	78	23	the	the	DET
eistud-25731	78	24	main	main	ADJ
eistud-25731	78	25	inputs	input	NOUN
eistud-25731	78	26	and	and	CCONJ
eistud-25731	78	27	factors	factor	NOUN
eistud-25731	78	28	shaping	shape	VERB
eistud-25731	78	29	the	the	DET
eistud-25731	78	30	final	final	ADJ
eistud-25731	78	31	results	result	NOUN
eistud-25731	78	32	.	.	PUNCT
eistud-25731	79	1	issn	issn	PROPN
eistud-25731	79	2	1822	1822	NUM
eistud-25731	79	3	-	-	SYM
eistud-25731	79	4	8402	8402	NUM
eistud-25731	79	5	european	european	ADJ
eistud-25731	79	6	integration	integration	NOUN
eistud-25731	79	7	studies	study	NOUN
eistud-25731	79	8	.	.	PUNCT
eistud-25731	80	1	2009	2009	NUM
eistud-25731	80	2	.	.	PUNCT
eistud-25731	81	1	no	no	DET
eistud-25731	81	2	3	3	NUM
eistud-25731	81	3	123	123	NUM
eistud-25731	81	4	the	the	DET
eistud-25731	81	5	short	short	ADJ
eistud-25731	81	6	run	run	NOUN
eistud-25731	81	7	means	mean	VERB
eistud-25731	81	8	a	a	DET
eistud-25731	81	9	neutral	neutral	ADJ
eistud-25731	81	10	policy	policy	NOUN
eistud-25731	81	11	.	.	PUNCT
eistud-25731	82	1	a	a	DET
eistud-25731	82	2	drop	drop	NOUN
eistud-25731	82	3	in	in	ADP
eistud-25731	82	4	velocity	velocity	NOUN
eistud-25731	82	5	appears	appear	VERB
eistud-25731	82	6	with	with	ADP
eistud-25731	82	7	monetary	monetary	ADJ
eistud-25731	82	8	expansion	expansion	NOUN
eistud-25731	82	9	.	.	PUNCT
eistud-25731	83	1	this	this	DET
eistud-25731	83	2	interpretation	interpretation	NOUN
eistud-25731	83	3	is	be	AUX
eistud-25731	83	4	based	base	VERB
eistud-25731	83	5	on	on	ADP
eistud-25731	83	6	a	a	DET
eistud-25731	83	7	stylized	stylize	VERB
eistud-25731	83	8	fact	fact	NOUN
eistud-25731	83	9	about	about	ADP
eistud-25731	83	10	behavior	behavior	NOUN
eistud-25731	83	11	of	of	ADP
eistud-25731	83	12	the	the	DET
eistud-25731	83	13	real	real	ADJ
eistud-25731	83	14	sector	sector	NOUN
eistud-25731	83	15	.	.	PUNCT
eistud-25731	84	1	transactions	transaction	NOUN
eistud-25731	84	2	in	in	ADP
eistud-25731	84	3	the	the	DET
eistud-25731	84	4	national	national	ADJ
eistud-25731	84	5	economy	economy	NOUN
eistud-25731	84	6	are	be	AUX
eistud-25731	84	7	relatively	relatively	ADV
eistud-25731	84	8	stable	stable	ADJ
eistud-25731	84	9	and	and	CCONJ
eistud-25731	84	10	any	any	DET
eistud-25731	84	11	changes	change	NOUN
eistud-25731	84	12	reassemble	reassemble	VERB
eistud-25731	84	13	the	the	DET
eistud-25731	84	14	real	real	ADJ
eistud-25731	84	15	gdp	gdp	NOUN
eistud-25731	84	16	movements	movement	NOUN
eistud-25731	84	17	.	.	PUNCT
eistud-25731	85	1	even	even	ADV
eistud-25731	85	2	a	a	DET
eistud-25731	85	3	sharp	sharp	ADJ
eistud-25731	85	4	change	change	NOUN
eistud-25731	85	5	in	in	ADP
eistud-25731	85	6	the	the	DET
eistud-25731	85	7	number	number	NOUN
eistud-25731	85	8	of	of	ADP
eistud-25731	85	9	transactions	transaction	NOUN
eistud-25731	85	10	(	(	PUNCT
eistud-25731	85	11	temporary	temporary	ADJ
eistud-25731	85	12	supply	supply	NOUN
eistud-25731	85	13	shock	shock	NOUN
eistud-25731	85	14	)	)	PUNCT
eistud-25731	85	15	has	have	VERB
eistud-25731	85	16	negligible	negligible	ADJ
eistud-25731	85	17	effects	effect	NOUN
eistud-25731	85	18	on	on	ADP
eistud-25731	85	19	prices	price	NOUN
eistud-25731	85	20	.	.	PUNCT
eistud-25731	86	1	therefore	therefore	ADV
eistud-25731	86	2	,	,	PUNCT
eistud-25731	86	3	the	the	DET
eistud-25731	86	4	real	real	ADJ
eistud-25731	86	5	money	money	NOUN
eistud-25731	86	6	supply	supply	NOUN
eistud-25731	86	7	does	do	AUX
eistud-25731	86	8	not	not	PART
eistud-25731	86	9	adjust	adjust	VERB
eistud-25731	86	10	to	to	PART
eistud-25731	86	11	buffer	buffer	VERB
eistud-25731	86	12	the	the	DET
eistud-25731	86	13	initial	initial	ADJ
eistud-25731	86	14	shock	shock	NOUN
eistud-25731	86	15	in	in	ADP
eistud-25731	86	16	100	100	NUM
eistud-25731	86	17	%	%	NOUN
eistud-25731	86	18	.	.	PUNCT
eistud-25731	87	1	in	in	ADP
eistud-25731	87	2	the	the	DET
eistud-25731	87	3	monetary	monetary	ADJ
eistud-25731	87	4	economics	economic	NOUN
eistud-25731	87	5	this	this	DET
eistud-25731	87	6	feature	feature	NOUN
eistud-25731	87	7	is	be	AUX
eistud-25731	87	8	known	know	VERB
eistud-25731	87	9	as	as	ADP
eistud-25731	87	10	the	the	DET
eistud-25731	87	11	shortterm	shortterm	PROPN
eistud-25731	87	12	money	money	NOUN
eistud-25731	87	13	non	non	NOUN
eistud-25731	87	14	-	-	NOUN
eistud-25731	87	15	neutrality	neutrality	NOUN
eistud-25731	87	16	.	.	PUNCT
eistud-25731	88	1	in	in	ADP
eistud-25731	88	2	such	such	DET
eistud-25731	88	3	a	a	DET
eistud-25731	88	4	setting	set	VERB
eistud-25731	88	5	demand	demand	NOUN
eistud-25731	88	6	for	for	ADP
eistud-25731	88	7	nominal	nominal	ADJ
eistud-25731	88	8	cash	cash	NOUN
eistud-25731	88	9	balances	balance	NOUN
eistud-25731	88	10	is	be	AUX
eistud-25731	88	11	rather	rather	ADV
eistud-25731	88	12	constant	constant	ADJ
eistud-25731	88	13	and	and	CCONJ
eistud-25731	88	14	develops	develop	VERB
eistud-25731	88	15	with	with	ADP
eistud-25731	88	16	the	the	DET
eistud-25731	88	17	real	real	ADJ
eistud-25731	88	18	gdp	gdp	NOUN
eistud-25731	88	19	path	path	NOUN
eistud-25731	88	20	.	.	PUNCT
eistud-25731	89	1	therefore	therefore	ADV
eistud-25731	89	2	,	,	PUNCT
eistud-25731	89	3	the	the	DET
eistud-25731	89	4	observed	observe	VERB
eistud-25731	89	5	shortterm	shortterm	NOUN
eistud-25731	89	6	shocks	shock	NOUN
eistud-25731	89	7	to	to	ADP
eistud-25731	89	8	velocity	velocity	NOUN
eistud-25731	89	9	should	should	AUX
eistud-25731	89	10	be	be	AUX
eistud-25731	89	11	attributed	attribute	VERB
eistud-25731	89	12	to	to	ADP
eistud-25731	89	13	monetary	monetary	ADJ
eistud-25731	89	14	policy	policy	NOUN
eistud-25731	89	15	.	.	PUNCT
eistud-25731	90	1	this	this	PRON
eistud-25731	90	2	is	be	AUX
eistud-25731	90	3	because	because	SCONJ
eistud-25731	90	4	prices	price	NOUN
eistud-25731	90	5	are	be	AUX
eistud-25731	90	6	not	not	PART
eistud-25731	90	7	flexible	flexible	ADJ
eistud-25731	90	8	enough	enough	ADV
eistud-25731	90	9	to	to	PART
eistud-25731	90	10	fully	fully	ADV
eistud-25731	90	11	adjust	adjust	VERB
eistud-25731	90	12	and	and	CCONJ
eistud-25731	90	13	remove	remove	VERB
eistud-25731	90	14	entire	entire	ADJ
eistud-25731	90	15	influence	influence	NOUN
eistud-25731	90	16	of	of	ADP
eistud-25731	90	17	the	the	DET
eistud-25731	90	18	initial	initial	ADJ
eistud-25731	90	19	real	real	ADJ
eistud-25731	90	20	shock	shock	NOUN
eistud-25731	90	21	of	of	ADP
eistud-25731	90	22	the	the	DET
eistud-25731	90	23	nominal	nominal	PROPN
eistud-25731	90	24	gdp	gdp	PROPN
eistud-25731	90	25	.	.	PROPN
eistud-25731	91	1	for	for	ADP
eistud-25731	91	2	the	the	DET
eistud-25731	91	3	purpose	purpose	NOUN
eistud-25731	91	4	of	of	ADP
eistud-25731	91	5	international	international	ADJ
eistud-25731	91	6	comparative	comparative	ADJ
eistud-25731	91	7	studies	study	NOUN
eistud-25731	91	8	money	money	NOUN
eistud-25731	91	9	velocity	velocity	VERB
eistud-25731	91	10	itself	itself	PRON
eistud-25731	91	11	(	(	PUNCT
eistud-25731	91	12	v	v	PROPN
eistud-25731	91	13	=	=	PROPN
eistud-25731	91	14	gdp	gdp	NOUN
eistud-25731	91	15	/	/	SYM
eistud-25731	91	16	m0	m0	PROPN
eistud-25731	91	17	)	)	PUNCT
eistud-25731	91	18	is	be	AUX
eistud-25731	91	19	not	not	PART
eistud-25731	91	20	the	the	DET
eistud-25731	91	21	appropriate	appropriate	ADJ
eistud-25731	91	22	variable	variable	NOUN
eistud-25731	91	23	because	because	SCONJ
eistud-25731	91	24	it	it	PRON
eistud-25731	91	25	depicts	depict	VERB
eistud-25731	91	26	the	the	DET
eistud-25731	91	27	underlying	underlie	VERB
eistud-25731	91	28	society	society	NOUN
eistud-25731	91	29	.	.	PUNCT
eistud-25731	92	1	information	information	NOUN
eistud-25731	92	2	about	about	ADP
eistud-25731	92	3	monetary	monetary	ADJ
eistud-25731	92	4	policy	policy	NOUN
eistud-25731	92	5	is	be	AUX
eistud-25731	92	6	provided	provide	VERB
eistud-25731	92	7	by	by	ADP
eistud-25731	92	8	changes	change	NOUN
eistud-25731	92	9	in	in	ADP
eistud-25731	92	10	velocity	velocity	NOUN
eistud-25731	92	11	of	of	ADP
eistud-25731	92	12	circulation	circulation	NOUN
eistud-25731	92	13	defined	define	VERB
eistud-25731	92	14	as	as	ADP
eistud-25731	92	15	δv	δv	NOUN
eistud-25731	92	16	=	=	NOUN
eistud-25731	92	17	δgdp/	δgdp/	NUM
eistud-25731	92	18	δm0	δm0	NOUN
eistud-25731	92	19	.	.	PUNCT
eistud-25731	93	1	monetary	monetary	ADJ
eistud-25731	93	2	policy	policy	NOUN
eistud-25731	93	3	stance	stance	NOUN
eistud-25731	93	4	index	index	NOUN
eistud-25731	93	5	(	(	PUNCT
eistud-25731	93	6	mpsi	mpsi	NOUN
eistud-25731	93	7	)	)	PUNCT
eistud-25731	93	8	is	be	AUX
eistud-25731	93	9	nothing	nothing	PRON
eistud-25731	93	10	else	else	ADV
eistud-25731	93	11	but	but	CCONJ
eistud-25731	93	12	the	the	DET
eistud-25731	93	13	first	first	ADJ
eistud-25731	93	14	difference	difference	NOUN
eistud-25731	93	15	time	time	NOUN
eistud-25731	93	16	series	series	NOUN
eistud-25731	93	17	of	of	ADP
eistud-25731	93	18	money	money	NOUN
eistud-25731	93	19	velocity	velocity	NOUN
eistud-25731	93	20	.	.	PUNCT
eistud-25731	94	1	the	the	DET
eistud-25731	94	2	advantages	advantage	NOUN
eistud-25731	94	3	of	of	ADP
eistud-25731	94	4	this	this	DET
eistud-25731	94	5	approach	approach	NOUN
eistud-25731	94	6	are	be	AUX
eistud-25731	94	7	:	:	PUNCT
eistud-25731	94	8	simplicity	simplicity	NOUN
eistud-25731	94	9	,	,	PUNCT
eistud-25731	94	10	intuitive	intuitive	ADJ
eistud-25731	94	11	interpretation	interpretation	NOUN
eistud-25731	94	12	,	,	PUNCT
eistud-25731	94	13	lack	lack	NOUN
eistud-25731	94	14	of	of	ADP
eistud-25731	94	15	the	the	DET
eistud-25731	94	16	need	need	NOUN
eistud-25731	94	17	to	to	PART
eistud-25731	94	18	model	model	VERB
eistud-25731	94	19	non	non	ADJ
eistud-25731	94	20	-	-	ADJ
eistud-25731	94	21	observable	observable	ADJ
eistud-25731	94	22	variables	variable	NOUN
eistud-25731	94	23	.	.	PUNCT
eistud-25731	95	1	in	in	ADP
eistud-25731	95	2	this	this	DET
eistud-25731	95	3	paper	paper	NOUN
eistud-25731	95	4	the	the	DET
eistud-25731	95	5	mpsi	mpsi	NOUN
eistud-25731	95	6	will	will	AUX
eistud-25731	95	7	be	be	AUX
eistud-25731	95	8	used	use	VERB
eistud-25731	95	9	for	for	ADP
eistud-25731	95	10	analyzing	analyze	VERB
eistud-25731	95	11	monetary	monetary	ADJ
eistud-25731	95	12	developments	development	NOUN
eistud-25731	95	13	in	in	ADP
eistud-25731	95	14	four	four	NUM
eistud-25731	95	15	integrated	integrate	VERB
eistud-25731	95	16	economies	economy	NOUN
eistud-25731	95	17	that	that	PRON
eistud-25731	95	18	are	be	AUX
eistud-25731	95	19	heading	head	VERB
eistud-25731	95	20	toward	toward	ADP
eistud-25731	95	21	full	full	ADJ
eistud-25731	95	22	monetary	monetary	ADJ
eistud-25731	95	23	integration	integration	NOUN
eistud-25731	95	24	.	.	PUNCT
eistud-25731	96	1	preand	preand	VERB
eistud-25731	96	2	post	post	ADJ
eistud-25731	96	3	-	-	ADJ
eistud-25731	96	4	integration	integration	ADJ
eistud-25731	96	5	convergence	convergence	NOUN
eistud-25731	96	6	of	of	ADP
eistud-25731	96	7	monetary	monetary	ADJ
eistud-25731	96	8	policy	policy	NOUN
eistud-25731	96	9	stance	stance	NOUN
eistud-25731	96	10	in	in	ADP
eistud-25731	96	11	ellp	ellp	PROPN
eistud-25731	96	12	countries	country	NOUN
eistud-25731	96	13	the	the	DET
eistud-25731	96	14	group	group	NOUN
eistud-25731	96	15	of	of	ADP
eistud-25731	96	16	baltic	baltic	ADJ
eistud-25731	96	17	states	states	PROPN
eistud-25731	96	18	(	(	PUNCT
eistud-25731	96	19	estonia	estonia	PROPN
eistud-25731	96	20	,	,	PUNCT
eistud-25731	96	21	latvia	latvia	PROPN
eistud-25731	96	22	and	and	CCONJ
eistud-25731	96	23	lithuania	lithuania	PROPN
eistud-25731	96	24	–	–	PUNCT
eistud-25731	96	25	ell	ell	NOUN
eistud-25731	96	26	)	)	PUNCT
eistud-25731	96	27	started	start	VERB
eistud-25731	96	28	a	a	DET
eistud-25731	96	29	period	period	NOUN
eistud-25731	96	30	of	of	ADP
eistud-25731	96	31	a	a	DET
eistud-25731	96	32	unprecedented	unprecedented	ADJ
eistud-25731	96	33	economic	economic	ADJ
eistud-25731	96	34	growth	growth	NOUN
eistud-25731	96	35	from	from	ADP
eistud-25731	96	36	the	the	DET
eistud-25731	96	37	moment	moment	NOUN
eistud-25731	96	38	of	of	ADP
eistud-25731	96	39	the	the	DET
eistud-25731	96	40	eu	eu	PROPN
eistud-25731	96	41	accession	accession	NOUN
eistud-25731	96	42	in	in	ADP
eistud-25731	96	43	2004	2004	NUM
eistud-25731	96	44	.	.	PUNCT
eistud-25731	97	1	according	accord	VERB
eistud-25731	97	2	to	to	ADP
eistud-25731	97	3	the	the	DET
eistud-25731	97	4	world	world	NOUN
eistud-25731	97	5	economic	economic	ADJ
eistud-25731	97	6	outlook	outlook	NOUN
eistud-25731	97	7	(	(	PUNCT
eistud-25731	97	8	imf	imf	PROPN
eistud-25731	97	9	2008	2008	NUM
eistud-25731	97	10	)	)	PUNCT
eistud-25731	97	11	,	,	PUNCT
eistud-25731	97	12	over	over	ADP
eistud-25731	97	13	the	the	DET
eistud-25731	97	14	four	four	NUM
eistud-25731	97	15	-	-	PUNCT
eistud-25731	97	16	year	year	NOUN
eistud-25731	97	17	period	period	NOUN
eistud-25731	97	18	(	(	PUNCT
eistud-25731	97	19	2004	2004	NUM
eistud-25731	97	20	-	-	SYM
eistud-25731	97	21	2007	2007	NUM
eistud-25731	97	22	)	)	PUNCT
eistud-25731	97	23	they	they	PRON
eistud-25731	97	24	experienced	experience	VERB
eistud-25731	97	25	the	the	DET
eistud-25731	97	26	following	follow	VERB
eistud-25731	97	27	total	total	ADJ
eistud-25731	97	28	growth	growth	NOUN
eistud-25731	97	29	rates	rate	NOUN
eistud-25731	97	30	:	:	PUNCT
eistud-25731	97	31	estonia	estonia	PROPN
eistud-25731	97	32	37,8	37,8	NUM
eistud-25731	97	33	%	%	NOUN
eistud-25731	97	34	,	,	PUNCT
eistud-25731	97	35	latvia	latvia	PROPN
eistud-25731	97	36	48,8	48,8	PROPN
eistud-25731	97	37	%	%	NOUN
eistud-25731	97	38	and	and	CCONJ
eistud-25731	97	39	lithuania	lithuania	PROPN
eistud-25731	97	40	36	36	NUM
eistud-25731	97	41	%	%	NOUN
eistud-25731	97	42	.	.	PUNCT
eistud-25731	98	1	poland	poland	PROPN
eistud-25731	98	2	in	in	ADP
eistud-25731	98	3	the	the	DET
eistud-25731	98	4	same	same	ADJ
eistud-25731	98	5	time	time	NOUN
eistud-25731	98	6	recorded	record	VERB
eistud-25731	98	7	much	much	ADV
eistud-25731	98	8	lower	low	ADJ
eistud-25731	98	9	growth	growth	NOUN
eistud-25731	98	10	,	,	PUNCT
eistud-25731	98	11	by	by	ADP
eistud-25731	98	12	23,5	23,5	NUM
eistud-25731	98	13	%	%	NOUN
eistud-25731	98	14	.	.	PUNCT
eistud-25731	99	1	when	when	SCONJ
eistud-25731	99	2	analyzing	analyze	VERB
eistud-25731	99	3	other	other	ADJ
eistud-25731	99	4	new	new	ADJ
eistud-25731	99	5	member	member	NOUN
eistud-25731	99	6	states	state	NOUN
eistud-25731	99	7	(	(	PUNCT
eistud-25731	99	8	romania	romania	PROPN
eistud-25731	99	9	and	and	CCONJ
eistud-25731	99	10	bulgaria	bulgaria	PROPN
eistud-25731	99	11	)	)	PUNCT
eistud-25731	99	12	one	one	PRON
eistud-25731	99	13	can	can	AUX
eistud-25731	99	14	recognize	recognize	VERB
eistud-25731	99	15	also	also	ADV
eistud-25731	99	16	a	a	DET
eistud-25731	99	17	dynamic	dynamic	ADJ
eistud-25731	99	18	growth	growth	NOUN
eistud-25731	99	19	that	that	PRON
eistud-25731	99	20	may	may	AUX
eistud-25731	99	21	be	be	AUX
eistud-25731	99	22	attributed	attribute	VERB
eistud-25731	99	23	to	to	ADP
eistud-25731	99	24	the	the	DET
eistud-25731	99	25	eu	eu	PROPN
eistud-25731	99	26	accession	accession	NOUN
eistud-25731	99	27	.	.	PUNCT
eistud-25731	100	1	therefore	therefore	ADV
eistud-25731	100	2	,	,	PUNCT
eistud-25731	100	3	it	it	PRON
eistud-25731	100	4	should	should	AUX
eistud-25731	100	5	not	not	PART
eistud-25731	100	6	be	be	AUX
eistud-25731	100	7	questioned	question	VERB
eistud-25731	100	8	that	that	SCONJ
eistud-25731	100	9	,	,	PUNCT
eistud-25731	100	10	in	in	ADP
eistud-25731	100	11	the	the	DET
eistud-25731	100	12	mentioned	mention	VERB
eistud-25731	100	13	cases	case	NOUN
eistud-25731	100	14	,	,	PUNCT
eistud-25731	100	15	economic	economic	ADJ
eistud-25731	100	16	integration	integration	NOUN
eistud-25731	100	17	was	be	AUX
eistud-25731	100	18	the	the	DET
eistud-25731	100	19	main	main	ADJ
eistud-25731	100	20	driving	driving	NOUN
eistud-25731	100	21	force	force	NOUN
eistud-25731	100	22	of	of	ADP
eistud-25731	100	23	the	the	DET
eistud-25731	100	24	observed	observe	VERB
eistud-25731	100	25	gdp	gdp	NOUN
eistud-25731	100	26	growth	growth	NOUN
eistud-25731	100	27	.	.	PUNCT
eistud-25731	101	1	removal	removal	NOUN
eistud-25731	101	2	of	of	ADP
eistud-25731	101	3	trade	trade	NOUN
eistud-25731	101	4	barriers	barrier	NOUN
eistud-25731	101	5	,	,	PUNCT
eistud-25731	101	6	liberalizing	liberalize	VERB
eistud-25731	101	7	all	all	DET
eistud-25731	101	8	bop	bop	NOUN
eistud-25731	101	9	accounts	account	NOUN
eistud-25731	101	10	and	and	CCONJ
eistud-25731	101	11	allowing	allow	VERB
eistud-25731	101	12	for	for	ADP
eistud-25731	101	13	the	the	DET
eistud-25731	101	14	free	free	ADJ
eistud-25731	101	15	flow	flow	NOUN
eistud-25731	101	16	of	of	ADP
eistud-25731	101	17	labor	labor	NOUN
eistud-25731	101	18	resulted	result	VERB
eistud-25731	101	19	in	in	ADP
eistud-25731	101	20	increasing	increase	VERB
eistud-25731	101	21	the	the	DET
eistud-25731	101	22	positive	positive	ADJ
eistud-25731	101	23	correlation	correlation	NOUN
eistud-25731	101	24	of	of	ADP
eistud-25731	101	25	business	business	NOUN
eistud-25731	101	26	cycle	cycle	NOUN
eistud-25731	101	27	phases	phase	NOUN
eistud-25731	101	28	among	among	ADP
eistud-25731	101	29	these	these	DET
eistud-25731	101	30	countries	country	NOUN
eistud-25731	101	31	.	.	PUNCT
eistud-25731	102	1	this	this	PRON
eistud-25731	102	2	is	be	AUX
eistud-25731	102	3	nothing	nothing	PRON
eistud-25731	102	4	else	else	ADV
eistud-25731	102	5	but	but	CCONJ
eistud-25731	102	6	the	the	DET
eistud-25731	102	7	gist	gist	NOUN
eistud-25731	102	8	of	of	ADP
eistud-25731	102	9	the	the	DET
eistud-25731	102	10	nominal	nominal	ADJ
eistud-25731	102	11	convergence	convergence	NOUN
eistud-25731	102	12	criteria	criterion	NOUN
eistud-25731	102	13	–	–	PUNCT
eistud-25731	102	14	that	that	PRON
eistud-25731	102	15	are	be	AUX
eistud-25731	102	16	aimed	aim	VERB
eistud-25731	102	17	at	at	ADP
eistud-25731	102	18	bringing	bring	VERB
eistud-25731	102	19	all	all	DET
eistud-25731	102	20	emu	emu	PROPN
eistud-25731	102	21	countries	country	NOUN
eistud-25731	102	22	in	in	ADP
eistud-25731	102	23	a	a	DET
eistud-25731	102	24	similar	similar	ADJ
eistud-25731	102	25	cycle	cycle	NOUN
eistud-25731	102	26	phase	phase	NOUN
eistud-25731	102	27	prior	prior	ADV
eistud-25731	102	28	to	to	ADP
eistud-25731	102	29	accession	accession	NOUN
eistud-25731	102	30	.	.	PUNCT
eistud-25731	103	1	another	another	DET
eistud-25731	103	2	possible	possible	ADJ
eistud-25731	103	3	interpretation	interpretation	NOUN
eistud-25731	103	4	is	be	AUX
eistud-25731	103	5	that	that	SCONJ
eistud-25731	103	6	the	the	DET
eistud-25731	103	7	optimality	optimality	NOUN
eistud-25731	103	8	criteria	criterion	NOUN
eistud-25731	103	9	for	for	ADP
eistud-25731	103	10	a	a	DET
eistud-25731	103	11	currency	currency	NOUN
eistud-25731	103	12	union	union	NOUN
eistud-25731	103	13	are	be	AUX
eistud-25731	103	14	endogenous	endogenous	ADJ
eistud-25731	103	15	and	and	CCONJ
eistud-25731	103	16	strict	strict	ADJ
eistud-25731	103	17	adherence	adherence	NOUN
eistud-25731	103	18	to	to	ADP
eistud-25731	103	19	meeting	meet	VERB
eistud-25731	103	20	all	all	DET
eistud-25731	103	21	nominal	nominal	ADJ
eistud-25731	103	22	criteria	criterion	NOUN
eistud-25731	103	23	is	be	AUX
eistud-25731	103	24	not	not	PART
eistud-25731	103	25	reasonable	reasonable	ADJ
eistud-25731	103	26	because	because	SCONJ
eistud-25731	103	27	they	they	PRON
eistud-25731	103	28	will	will	AUX
eistud-25731	103	29	be	be	AUX
eistud-25731	103	30	satisfied	satisfy	VERB
eistud-25731	103	31	much	much	ADV
eistud-25731	103	32	easier	easy	ADJ
eistud-25731	103	33	(	(	PUNCT
eistud-25731	103	34	at	at	ADP
eistud-25731	103	35	lower	low	ADJ
eistud-25731	103	36	social	social	ADJ
eistud-25731	103	37	cost	cost	NOUN
eistud-25731	103	38	)	)	PUNCT
eistud-25731	103	39	and	and	CCONJ
eistud-25731	103	40	almost	almost	ADV
eistud-25731	103	41	automatically	automatically	ADV
eistud-25731	103	42	after	after	ADP
eistud-25731	103	43	full	full	ADJ
eistud-25731	103	44	monetary	monetary	ADJ
eistud-25731	103	45	integration	integration	NOUN
eistud-25731	103	46	.	.	PUNCT
eistud-25731	104	1	however	however	ADV
eistud-25731	104	2	,	,	PUNCT
eistud-25731	104	3	for	for	ADP
eistud-25731	104	4	this	this	DET
eistud-25731	104	5	process	process	NOUN
eistud-25731	104	6	to	to	PART
eistud-25731	104	7	be	be	AUX
eistud-25731	104	8	smooth	smooth	ADJ
eistud-25731	104	9	–	–	PUNCT
eistud-25731	104	10	one	one	PRON
eistud-25731	104	11	should	should	AUX
eistud-25731	104	12	remember	remember	VERB
eistud-25731	104	13	that	that	SCONJ
eistud-25731	104	14	for	for	ADP
eistud-25731	104	15	substituting	substitute	VERB
eistud-25731	104	16	national	national	ADJ
eistud-25731	104	17	monetary	monetary	ADJ
eistud-25731	104	18	policy	policy	NOUN
eistud-25731	104	19	with	with	ADP
eistud-25731	104	20	a	a	DET
eistud-25731	104	21	common	common	ADJ
eistud-25731	104	22	one	one	NUM
eistud-25731	104	23	–	–	PUNCT
eistud-25731	104	24	it	it	PRON
eistud-25731	104	25	is	be	AUX
eistud-25731	104	26	necessary	necessary	ADJ
eistud-25731	104	27	for	for	SCONJ
eistud-25731	104	28	all	all	DET
eistud-25731	104	29	prospective	prospective	ADJ
eistud-25731	104	30	members	member	NOUN
eistud-25731	104	31	to	to	PART
eistud-25731	104	32	be	be	AUX
eistud-25731	104	33	in	in	ADP
eistud-25731	104	34	the	the	DET
eistud-25731	104	35	same	same	ADJ
eistud-25731	104	36	monetary	monetary	ADJ
eistud-25731	104	37	policy	policy	NOUN
eistud-25731	104	38	stance	stance	NOUN
eistud-25731	104	39	on	on	ADP
eistud-25731	104	40	the	the	DET
eistud-25731	104	41	eve	eve	NOUN
eistud-25731	104	42	of	of	ADP
eistud-25731	104	43	monetary	monetary	ADJ
eistud-25731	104	44	integration	integration	NOUN
eistud-25731	104	45	.	.	PUNCT
eistud-25731	105	1	otherwise	otherwise	ADV
eistud-25731	105	2	,	,	PUNCT
eistud-25731	105	3	the	the	DET
eistud-25731	105	4	fact	fact	NOUN
eistud-25731	105	5	of	of	ADP
eistud-25731	105	6	accession	accession	NOUN
eistud-25731	105	7	will	will	AUX
eistud-25731	105	8	result	result	VERB
eistud-25731	105	9	in	in	ADP
eistud-25731	105	10	a	a	DET
eistud-25731	105	11	monetary	monetary	ADJ
eistud-25731	105	12	shock	shock	NOUN
eistud-25731	105	13	associated	associate	VERB
eistud-25731	105	14	with	with	ADP
eistud-25731	105	15	imposing	impose	VERB
eistud-25731	105	16	a	a	DET
eistud-25731	105	17	different	different	ADJ
eistud-25731	105	18	stance	stance	NOUN
eistud-25731	105	19	.	.	PUNCT
eistud-25731	106	1	it	it	PRON
eistud-25731	106	2	could	could	AUX
eistud-25731	106	3	be	be	AUX
eistud-25731	106	4	reasonable	reasonable	ADJ
eistud-25731	106	5	to	to	PART
eistud-25731	106	6	introduce	introduce	VERB
eistud-25731	106	7	a	a	DET
eistud-25731	106	8	new	new	ADJ
eistud-25731	106	9	convergence	convergence	NOUN
eistud-25731	106	10	criterion	criterion	NOUN
eistud-25731	106	11	based	base	VERB
eistud-25731	106	12	on	on	ADP
eistud-25731	106	13	similarity	similarity	NOUN
eistud-25731	106	14	in	in	ADP
eistud-25731	106	15	monetary	monetary	ADJ
eistud-25731	106	16	policy	policy	NOUN
eistud-25731	106	17	stance	stance	NOUN
eistud-25731	106	18	of	of	ADP
eistud-25731	106	19	all	all	DET
eistud-25731	106	20	prospective	prospective	ADJ
eistud-25731	106	21	emu	emu	PROPN
eistud-25731	106	22	members	member	NOUN
eistud-25731	106	23	.	.	PUNCT
eistud-25731	107	1	using	use	VERB
eistud-25731	107	2	the	the	DET
eistud-25731	107	3	mpsi	mpsi	NOUN
eistud-25731	107	4	one	one	PRON
eistud-25731	107	5	can	can	AUX
eistud-25731	107	6	answer	answer	VERB
eistud-25731	107	7	the	the	DET
eistud-25731	107	8	question	question	NOUN
eistud-25731	107	9	about	about	ADP
eistud-25731	107	10	developments	development	NOUN
eistud-25731	107	11	of	of	ADP
eistud-25731	107	12	this	this	DET
eistud-25731	107	13	feature	feature	NOUN
eistud-25731	107	14	in	in	ADP
eistud-25731	107	15	estonia	estonia	PROPN
eistud-25731	107	16	,	,	PUNCT
eistud-25731	107	17	latvia	latvia	PROPN
eistud-25731	107	18	,	,	PUNCT
eistud-25731	107	19	lithuania	lithuania	PROPN
eistud-25731	107	20	and	and	CCONJ
eistud-25731	107	21	poland	poland	PROPN
eistud-25731	107	22	.	.	PUNCT
eistud-25731	108	1	high	high	ADJ
eistud-25731	108	2	positive	positive	ADJ
eistud-25731	108	3	correlation	correlation	NOUN
eistud-25731	108	4	(	(	PUNCT
eistud-25731	108	5	close	close	ADV
eistud-25731	108	6	to	to	ADP
eistud-25731	108	7	unity	unity	NOUN
eistud-25731	108	8	)	)	PUNCT
eistud-25731	108	9	indicates	indicate	VERB
eistud-25731	108	10	that	that	SCONJ
eistud-25731	108	11	monetary	monetary	ADJ
eistud-25731	108	12	policy	policy	NOUN
eistud-25731	108	13	stance	stance	NOUN
eistud-25731	108	14	was	be	AUX
eistud-25731	108	15	identical	identical	ADJ
eistud-25731	108	16	in	in	ADP
eistud-25731	108	17	a	a	DET
eistud-25731	108	18	pair	pair	NOUN
eistud-25731	108	19	of	of	ADP
eistud-25731	108	20	countries	country	NOUN
eistud-25731	108	21	.	.	PUNCT
eistud-25731	109	1	restrictiveness	restrictiveness	PROPN
eistud-25731	109	2	was	be	AUX
eistud-25731	109	3	changing	change	VERB
eistud-25731	109	4	in	in	ADP
eistud-25731	109	5	the	the	DET
eistud-25731	109	6	same	same	ADJ
eistud-25731	109	7	time	time	NOUN
eistud-25731	109	8	and	and	CCONJ
eistud-25731	109	9	in	in	ADP
eistud-25731	109	10	the	the	DET
eistud-25731	109	11	same	same	ADJ
eistud-25731	109	12	direction	direction	NOUN
eistud-25731	109	13	.	.	PUNCT
eistud-25731	110	1	we	we	PRON
eistud-25731	110	2	can	can	AUX
eistud-25731	110	3	observe	observe	VERB
eistud-25731	110	4	such	such	ADJ
eistud-25731	110	5	behavior	behavior	NOUN
eistud-25731	110	6	quite	quite	ADV
eistud-25731	110	7	often	often	ADV
eistud-25731	110	8	for	for	ADP
eistud-25731	110	9	estonia	estonia	PROPN
eistud-25731	110	10	and	and	CCONJ
eistud-25731	110	11	lithuania	lithuania	PROPN
eistud-25731	110	12	and	and	CCONJ
eistud-25731	110	13	estonia	estonia	PROPN
eistud-25731	110	14	and	and	CCONJ
eistud-25731	110	15	latvia	latvia	PROPN
eistud-25731	110	16	.	.	PUNCT
eistud-25731	111	1	there	there	PRON
eistud-25731	111	2	are	be	VERB
eistud-25731	111	3	however	however	ADV
eistud-25731	111	4	periods	period	NOUN
eistud-25731	111	5	of	of	ADP
eistud-25731	111	6	temporary	temporary	ADJ
eistud-25731	111	7	divergence	divergence	NOUN
eistud-25731	111	8	that	that	PRON
eistud-25731	111	9	are	be	AUX
eistud-25731	111	10	possible	possible	ADJ
eistud-25731	111	11	due	due	ADP
eistud-25731	111	12	to	to	ADP
eistud-25731	111	13	the	the	DET
eistud-25731	111	14	fact	fact	NOUN
eistud-25731	111	15	of	of	ADP
eistud-25731	111	16	still	still	ADV
eistud-25731	111	17	independent	independent	ADJ
eistud-25731	111	18	monetary	monetary	ADJ
eistud-25731	111	19	authorities	authority	NOUN
eistud-25731	111	20	in	in	ADP
eistud-25731	111	21	each	each	PRON
eistud-25731	111	22	of	of	ADP
eistud-25731	111	23	the	the	DET
eistud-25731	111	24	countries	country	NOUN
eistud-25731	111	25	analyzed	analyze	VERB
eistud-25731	111	26	.	.	PUNCT
eistud-25731	112	1	poland	poland	PROPN
eistud-25731	112	2	seems	seem	VERB
eistud-25731	112	3	to	to	PART
eistud-25731	112	4	be	be	AUX
eistud-25731	112	5	a	a	DET
eistud-25731	112	6	quite	quite	ADV
eistud-25731	112	7	different	different	ADJ
eistud-25731	112	8	case	case	NOUN
eistud-25731	112	9	.	.	PUNCT
eistud-25731	113	1	monetary	monetary	ADJ
eistud-25731	113	2	policy	policy	NOUN
eistud-25731	113	3	of	of	ADP
eistud-25731	113	4	the	the	DET
eistud-25731	113	5	national	national	PROPN
eistud-25731	113	6	bank	bank	PROPN
eistud-25731	113	7	of	of	ADP
eistud-25731	113	8	poland	poland	PROPN
eistud-25731	113	9	differed	differ	VERB
eistud-25731	113	10	in	in	ADP
eistud-25731	113	11	biggest	big	ADJ
eistud-25731	113	12	extent	extent	NOUN
eistud-25731	113	13	over	over	ADP
eistud-25731	113	14	the	the	DET
eistud-25731	113	15	studied	studied	ADJ
eistud-25731	113	16	period	period	NOUN
eistud-25731	113	17	.	.	PUNCT
eistud-25731	114	1	in	in	ADP
eistud-25731	114	2	the	the	DET
eistud-25731	114	3	long	long	ADJ
eistud-25731	114	4	run	run	NOUN
eistud-25731	114	5	we	we	PRON
eistud-25731	114	6	can	can	AUX
eistud-25731	114	7	observe	observe	VERB
eistud-25731	114	8	however	however	ADV
eistud-25731	114	9	a	a	DET
eistud-25731	114	10	slow	slow	ADJ
eistud-25731	114	11	but	but	CCONJ
eistud-25731	114	12	systematic	systematic	ADJ
eistud-25731	114	13	increase	increase	NOUN
eistud-25731	114	14	in	in	ADP
eistud-25731	114	15	similarity	similarity	NOUN
eistud-25731	114	16	(	(	PUNCT
eistud-25731	114	17	lipo	lipo	NOUN
eistud-25731	114	18	)	)	PUNCT
eistud-25731	114	19	.	.	PUNCT
eistud-25731	115	1	source	source	NOUN
eistud-25731	115	2	:	:	PUNCT
eistud-25731	115	3	author	author	NOUN
eistud-25731	115	4	.	.	PUNCT
eistud-25731	116	1	fig	fig	NOUN
eistud-25731	116	2	.	.	PUNCT
eistud-25731	117	1	1	1	X
eistud-25731	117	2	.	.	X
eistud-25731	117	3	correlation	correlation	NOUN
eistud-25731	117	4	coefficients	coefficient	NOUN
eistud-25731	117	5	for	for	ADP
eistud-25731	117	6	mpsi	mpsi	NOUN
eistud-25731	117	7	in	in	ADP
eistud-25731	117	8	ellp	ellp	NOUN
eistud-25731	117	9	countries	country	NOUN
eistud-25731	117	10	for	for	ADP
eistud-25731	117	11	a	a	DET
eistud-25731	117	12	4	4	NUM
eistud-25731	117	13	-	-	PUNCT
eistud-25731	117	14	quarter	quarter	NOUN
eistud-25731	117	15	moving	move	VERB
eistud-25731	117	16	window	window	NOUN
eistud-25731	117	17	over	over	ADP
eistud-25731	117	18	1998q1	1998q1	PROPN
eistud-25731	117	19	-	-	PUNCT
eistud-25731	117	20	2008q1	2008q1	PROPN
eistud-25731	117	21	(	(	PUNCT
eistud-25731	117	22	e	e	NOUN
eistud-25731	117	23	-	-	NOUN
eistud-25731	117	24	estonia	estonia	ADJ
eistud-25731	117	25	,	,	PUNCT
eistud-25731	117	26	la	la	PROPN
eistud-25731	117	27	–	–	PUNCT
eistud-25731	117	28	latvia	latvia	PROPN
eistud-25731	117	29	,	,	PUNCT
eistud-25731	117	30	li	li	PROPN
eistud-25731	117	31	–	–	PUNCT
eistud-25731	117	32	lithuania	lithuania	PROPN
eistud-25731	117	33	,	,	PUNCT
eistud-25731	117	34	po	po	PROPN
eistud-25731	117	35	poland	poland	PROPN
eistud-25731	117	36	)	)	PUNCT
eistud-25731	117	37	issn	issn	PROPN
eistud-25731	117	38	1822	1822	NUM
eistud-25731	117	39	-	-	SYM
eistud-25731	117	40	8402	8402	NUM
eistud-25731	117	41	european	european	ADJ
eistud-25731	117	42	integration	integration	NOUN
eistud-25731	117	43	studies	study	NOUN
eistud-25731	117	44	.	.	PUNCT
eistud-25731	118	1	2009	2009	NUM
eistud-25731	118	2	.	.	PUNCT
eistud-25731	119	1	no	no	DET
eistud-25731	119	2	3	3	NUM
eistud-25731	119	3	124	124	NUM
eistud-25731	119	4	remarkable	remarkable	ADJ
eistud-25731	119	5	is	be	AUX
eistud-25731	119	6	a	a	DET
eistud-25731	119	7	temporary	temporary	ADJ
eistud-25731	119	8	convergence	convergence	NOUN
eistud-25731	119	9	in	in	ADP
eistud-25731	119	10	monetary	monetary	ADJ
eistud-25731	119	11	policy	policy	NOUN
eistud-25731	119	12	stance	stance	NOUN
eistud-25731	119	13	in	in	ADP
eistud-25731	119	14	2004	2004	NUM
eistud-25731	119	15	of	of	ADP
eistud-25731	119	16	all	all	DET
eistud-25731	119	17	ellp	ellp	PROPN
eistud-25731	119	18	when	when	SCONJ
eistud-25731	119	19	the	the	DET
eistud-25731	119	20	counties	county	NOUN
eistud-25731	119	21	joined	join	VERB
eistud-25731	119	22	the	the	DET
eistud-25731	119	23	european	european	PROPN
eistud-25731	119	24	union	union	PROPN
eistud-25731	119	25	.	.	PUNCT
eistud-25731	120	1	after	after	ADP
eistud-25731	120	2	this	this	DET
eistud-25731	120	3	period	period	NOUN
eistud-25731	120	4	some	some	DET
eistud-25731	120	5	divergence	divergence	NOUN
eistud-25731	120	6	appeared	appear	VERB
eistud-25731	120	7	,	,	PUNCT
eistud-25731	120	8	but	but	CCONJ
eistud-25731	120	9	monetary	monetary	ADJ
eistud-25731	120	10	policy	policy	NOUN
eistud-25731	120	11	in	in	ADP
eistud-25731	120	12	the	the	DET
eistud-25731	120	13	baltic	baltic	ADJ
eistud-25731	120	14	states	state	NOUN
eistud-25731	120	15	became	become	VERB
eistud-25731	120	16	almost	almost	ADV
eistud-25731	120	17	identical	identical	ADJ
eistud-25731	120	18	again	again	ADV
eistud-25731	120	19	in	in	ADP
eistud-25731	120	20	2006	2006	NUM
eistud-25731	120	21	.	.	PUNCT
eistud-25731	121	1	since	since	SCONJ
eistud-25731	121	2	then	then	ADV
eistud-25731	121	3	,	,	PUNCT
eistud-25731	121	4	high	high	ADJ
eistud-25731	121	5	positive	positive	ADJ
eistud-25731	121	6	correlation	correlation	NOUN
eistud-25731	121	7	prevailed	prevail	VERB
eistud-25731	121	8	,	,	PUNCT
eistud-25731	121	9	except	except	SCONJ
eistud-25731	121	10	for	for	ADP
eistud-25731	121	11	estonia	estonia	PROPN
eistud-25731	121	12	and	and	CCONJ
eistud-25731	121	13	lithuania	lithuania	PROPN
eistud-25731	121	14	for	for	ADP
eistud-25731	121	15	2007q2	2007q2	NOUN
eistud-25731	121	16	-	-	PUNCT
eistud-25731	121	17	2008q3	2008q3	NUM
eistud-25731	121	18	when	when	SCONJ
eistud-25731	121	19	the	the	DET
eistud-25731	121	20	global	global	ADJ
eistud-25731	121	21	financial	financial	ADJ
eistud-25731	121	22	crisis	crisis	NOUN
eistud-25731	121	23	started	start	VERB
eistud-25731	121	24	.	.	PUNCT
eistud-25731	122	1	all	all	DET
eistud-25731	122	2	other	other	ADJ
eistud-25731	122	3	countries	country	NOUN
eistud-25731	122	4	(	(	PUNCT
eistud-25731	122	5	estonia	estonia	PROPN
eistud-25731	122	6	,	,	PUNCT
eistud-25731	122	7	latvia	latvia	PROPN
eistud-25731	122	8	,	,	PUNCT
eistud-25731	122	9	poland	poland	PROPN
eistud-25731	122	10	)	)	PUNCT
eistud-25731	122	11	increased	increase	VERB
eistud-25731	122	12	similarity	similarity	NOUN
eistud-25731	122	13	of	of	ADP
eistud-25731	122	14	their	their	PRON
eistud-25731	122	15	monetary	monetary	ADJ
eistud-25731	122	16	policy	policy	NOUN
eistud-25731	122	17	in	in	ADP
eistud-25731	122	18	the	the	DET
eistud-25731	122	19	most	most	ADV
eistud-25731	122	20	recent	recent	ADJ
eistud-25731	122	21	period	period	NOUN
eistud-25731	122	22	.	.	PUNCT
eistud-25731	123	1	lithuania	lithuania	PROPN
eistud-25731	123	2	’s	’s	PART
eistud-25731	123	3	divergence	divergence	NOUN
eistud-25731	123	4	could	could	AUX
eistud-25731	123	5	be	be	AUX
eistud-25731	123	6	attributed	attribute	VERB
eistud-25731	123	7	to	to	ADP
eistud-25731	123	8	significant	significant	ADJ
eistud-25731	123	9	increase	increase	NOUN
eistud-25731	123	10	of	of	ADP
eistud-25731	123	11	the	the	DET
eistud-25731	123	12	inflation	inflation	NOUN
eistud-25731	123	13	rate	rate	NOUN
eistud-25731	123	14	in	in	ADP
eistud-25731	123	15	the	the	DET
eistud-25731	123	16	most	most	ADV
eistud-25731	123	17	recent	recent	ADJ
eistud-25731	123	18	period	period	NOUN
eistud-25731	123	19	.	.	PUNCT
eistud-25731	124	1	as	as	ADP
eistud-25731	124	2	a	a	DET
eistud-25731	124	3	consequence	consequence	NOUN
eistud-25731	124	4	,	,	PUNCT
eistud-25731	124	5	a	a	DET
eistud-25731	124	6	different	different	ADJ
eistud-25731	124	7	stance	stance	NOUN
eistud-25731	124	8	was	be	AUX
eistud-25731	124	9	observed	observe	VERB
eistud-25731	124	10	due	due	ADJ
eistud-25731	124	11	to	to	ADP
eistud-25731	124	12	specific	specific	ADJ
eistud-25731	124	13	countermeasures	countermeasure	NOUN
eistud-25731	124	14	to	to	PART
eistud-25731	124	15	address	address	VERB
eistud-25731	124	16	this	this	DET
eistud-25731	124	17	problem	problem	NOUN
eistud-25731	124	18	.	.	PUNCT
eistud-25731	125	1	augmented	augment	VERB
eistud-25731	125	2	dickey	dickey	PROPN
eistud-25731	125	3	-	-	PUNCT
eistud-25731	125	4	fuller	full	ADJ
eistud-25731	125	5	statistics	statistic	NOUN
eistud-25731	125	6	indicate	indicate	VERB
eistud-25731	125	7	stationary	stationary	ADJ
eistud-25731	125	8	behavior	behavior	NOUN
eistud-25731	125	9	of	of	ADP
eistud-25731	125	10	the	the	DET
eistud-25731	125	11	mpsi	mpsi	NOUN
eistud-25731	125	12	for	for	ADP
eistud-25731	125	13	all	all	DET
eistud-25731	125	14	four	four	NUM
eistud-25731	125	15	countries	country	NOUN
eistud-25731	125	16	(	(	PUNCT
eistud-25731	125	17	table	table	NOUN
eistud-25731	125	18	1	1	NUM
eistud-25731	125	19	)	)	PUNCT
eistud-25731	125	20	.	.	PUNCT
eistud-25731	126	1	table	table	NOUN
eistud-25731	126	2	1	1	NUM
eistud-25731	126	3	.	.	PUNCT
eistud-25731	127	1	adf	adf	NOUN
eistud-25731	127	2	test	test	NOUN
eistud-25731	127	3	for	for	ADP
eistud-25731	127	4	mpsi	mpsi	NOUN
eistud-25731	127	5	in	in	ADP
eistud-25731	127	6	ellp	ellp	NOUN
eistud-25731	127	7	countries	country	NOUN
eistud-25731	127	8	(	(	PUNCT
eistud-25731	127	9	critical	critical	ADJ
eistud-25731	127	10	values	value	NOUN
eistud-25731	127	11	:	:	PUNCT
eistud-25731	128	1	*	*	PUNCT
eistud-25731	128	2	at	at	ADP
eistud-25731	128	3	5%=-1.949	5%=-1.949	NUM
eistud-25731	128	4	,	,	PUNCT
eistud-25731	128	5	*	*	PUNCT
eistud-25731	128	6	*	*	PUNCT
eistud-25731	128	7	at	at	ADP
eistud-25731	128	8	1%=-2.62	1%=-2.62	NUM
eistud-25731	128	9	)	)	PUNCT
eistud-25731	128	10	.	.	PUNCT
eistud-25731	129	1	t	t	PROPN
eistud-25731	129	2	-	-	PUNCT
eistud-25731	129	3	adf	adf	NOUN
eistud-25731	129	4	es	es	NOUN
eistud-25731	129	5	-6.5593	-6.5593	NOUN
eistud-25731	129	6	*	*	PUNCT
eistud-25731	129	7	*	*	PUNCT
eistud-25731	129	8	la	la	X
eistud-25731	129	9	-7.4551	-7.4551	X
eistud-25731	129	10	*	*	PROPN
eistud-25731	129	11	*	*	PUNCT
eistud-25731	129	12	li	li	PROPN
eistud-25731	129	13	-5.9891	-5.9891	PROPN
eistud-25731	129	14	*	*	PUNCT
eistud-25731	129	15	*	*	PROPN
eistud-25731	129	16	po	po	INTJ
eistud-25731	129	17	-8.6299	-8.6299	NOUN
eistud-25731	129	18	*	*	PROPN
eistud-25731	129	19	*	*	PUNCT
eistud-25731	129	20	source	source	NOUN
eistud-25731	129	21	:	:	PUNCT
eistud-25731	129	22	author	author	NOUN
eistud-25731	129	23	.	.	PUNCT
eistud-25731	130	1	beta	beta	ADJ
eistud-25731	130	2	eigenvectors	eigenvector	NOUN
eistud-25731	130	3	in	in	ADP
eistud-25731	130	4	two	two	NUM
eistud-25731	130	5	simple	simple	ADJ
eistud-25731	130	6	cointegration	cointegration	NOUN
eistud-25731	130	7	models	model	NOUN
eistud-25731	130	8	(	(	PUNCT
eistud-25731	130	9	with	with	ADP
eistud-25731	130	10	a	a	DET
eistud-25731	130	11	two	two	NUM
eistud-25731	130	12	-	-	PUNCT
eistud-25731	130	13	quarter	quarter	NOUN
eistud-25731	130	14	lag	lag	NOUN
eistud-25731	130	15	)	)	PUNCT
eistud-25731	130	16	for	for	ADP
eistud-25731	130	17	mpsi	mpsi	NOUN
eistud-25731	130	18	in	in	ADP
eistud-25731	130	19	ellp	ellp	PROPN
eistud-25731	130	20	countries	country	NOUN
eistud-25731	130	21	estimated	estimate	VERB
eistud-25731	130	22	for	for	ADP
eistud-25731	130	23	two	two	NUM
eistud-25731	130	24	periods	period	NOUN
eistud-25731	130	25	:	:	PUNCT
eistud-25731	130	26	a	a	DET
eistud-25731	130	27	:	:	PUNCT
eistud-25731	130	28	1998q1	1998q1	ADV
eistud-25731	130	29	-	-	PUNCT
eistud-25731	130	30	2004q1	2004q1	NUM
eistud-25731	130	31	and	and	CCONJ
eistud-25731	130	32	b	b	NOUN
eistud-25731	130	33	:	:	PUNCT
eistud-25731	130	34	2004q2	2004q2	NUM
eistud-25731	130	35	-	-	SYM
eistud-25731	130	36	2008q3	2008q3	NOUN
eistud-25731	130	37	indicate	indicate	VERB
eistud-25731	130	38	that	that	SCONJ
eistud-25731	130	39	there	there	PRON
eistud-25731	130	40	was	be	VERB
eistud-25731	130	41	a	a	DET
eistud-25731	130	42	change	change	NOUN
eistud-25731	130	43	in	in	ADP
eistud-25731	130	44	the	the	DET
eistud-25731	130	45	behavior	behavior	NOUN
eistud-25731	130	46	of	of	ADP
eistud-25731	130	47	monetary	monetary	ADJ
eistud-25731	130	48	policy	policy	NOUN
eistud-25731	130	49	stance	stance	NOUN
eistud-25731	130	50	.	.	PUNCT
eistud-25731	131	1	βa	βa	X
eistud-25731	132	1	=	=	PUNCT
eistud-25731	133	1	[	[	X
eistud-25731	133	2	es	es	X
eistud-25731	133	3	la	la	DET
eistud-25731	133	4	li	li	PROPN
eistud-25731	133	5	po	po	X
eistud-25731	133	6	]	]	X
eistud-25731	133	7	=	=	PUNCT
eistud-25731	134	1	[	[	X
eistud-25731	134	2	1	1	NUM
eistud-25731	134	3	3.0758	3.0758	NUM
eistud-25731	134	4	–	–	PUNCT
eistud-25731	134	5	11.936	11.936	NUM
eistud-25731	134	6	8.2251	8.2251	NUM
eistud-25731	134	7	]	]	PUNCT
eistud-25731	135	1	βb	βb	PROPN
eistud-25731	135	2	=	=	X
eistud-25731	136	1	[	[	X
eistud-25731	136	2	es	es	X
eistud-25731	136	3	la	la	DET
eistud-25731	136	4	li	li	PROPN
eistud-25731	136	5	po	po	X
eistud-25731	136	6	]	]	X
eistud-25731	136	7	=	=	PUNCT
eistud-25731	137	1	[	[	X
eistud-25731	137	2	1	1	NUM
eistud-25731	137	3	–	–	SYM
eistud-25731	137	4	0.27686	0.27686	NUM
eistud-25731	137	5	–	–	PUNCT
eistud-25731	137	6	0.50114	0.50114	NUM
eistud-25731	137	7	–	–	PUNCT
eistud-25731	137	8	0.3394	0.3394	NUM
eistud-25731	137	9	]	]	PUNCT
eistud-25731	137	10	in	in	ADP
eistud-25731	137	11	addition	addition	NOUN
eistud-25731	137	12	the	the	DET
eistud-25731	137	13	whole	whole	ADJ
eistud-25731	137	14	system	system	NOUN
eistud-25731	137	15	seems	seem	VERB
eistud-25731	137	16	to	to	PART
eistud-25731	137	17	return	return	VERB
eistud-25731	137	18	to	to	ADP
eistud-25731	137	19	equilibrium	equilibrium	NOUN
eistud-25731	137	20	much	much	ADV
eistud-25731	137	21	faster	fast	ADV
eistud-25731	137	22	in	in	ADP
eistud-25731	137	23	the	the	DET
eistud-25731	137	24	latter	latter	ADJ
eistud-25731	137	25	period	period	NOUN
eistud-25731	137	26	.	.	PUNCT
eistud-25731	138	1	the	the	DET
eistud-25731	138	2	error	error	NOUN
eistud-25731	138	3	correction	correction	NOUN
eistud-25731	138	4	mechanism	mechanism	NOUN
eistud-25731	138	5	is	be	AUX
eistud-25731	138	6	characterized	characterize	VERB
eistud-25731	138	7	with	with	ADP
eistud-25731	138	8	much	much	ADV
eistud-25731	138	9	higher	high	ADJ
eistud-25731	138	10	absolute	absolute	ADJ
eistud-25731	138	11	values	value	NOUN
eistud-25731	138	12	of	of	ADP
eistud-25731	138	13	alpha	alpha	ADJ
eistud-25731	138	14	coefficients	coefficient	NOUN
eistud-25731	138	15	for	for	ADP
eistud-25731	138	16	the	the	DET
eistud-25731	138	17	b	b	PROPN
eistud-25731	138	18	period	period	NOUN
eistud-25731	138	19	.	.	PUNCT
eistud-25731	139	1	αa	αa	NOUN
eistud-25731	140	1	=	=	SYM
eistud-25731	141	1	[	[	X
eistud-25731	141	2	es	es	X
eistud-25731	141	3	la	la	DET
eistud-25731	141	4	li	li	PROPN
eistud-25731	141	5	po	po	X
eistud-25731	141	6	]	]	X
eistud-25731	141	7	=	=	PUNCT
eistud-25731	142	1	[	[	X
eistud-25731	142	2	0.033056	0.033056	NUM
eistud-25731	142	3	–	–	PUNCT
eistud-25731	142	4	0.056812	0.056812	NUM
eistud-25731	142	5	0.10763	0.10763	NUM
eistud-25731	142	6	–	–	PUNCT
eistud-25731	142	7	0.12167	0.12167	NUM
eistud-25731	142	8	]	]	PUNCT
eistud-25731	142	9	αb	αb	NOUN
eistud-25731	142	10	=	=	SYM
eistud-25731	143	1	[	[	X
eistud-25731	143	2	es	es	X
eistud-25731	143	3	la	la	PROPN
eistud-25731	143	4	li	li	PROPN
eistud-25731	143	5	po	po	X
eistud-25731	143	6	]	]	X
eistud-25731	143	7	=	=	PUNCT
eistud-25731	144	1	[	[	X
eistud-25731	144	2	–	–	PUNCT
eistud-25731	144	3	0.33126	0.33126	NUM
eistud-25731	144	4	0.12562	0.12562	NUM
eistud-25731	144	5	2.5080	2.5080	NUM
eistud-25731	144	6	–	–	PUNCT
eistud-25731	144	7	1.6382	1.6382	NUM
eistud-25731	144	8	]	]	PUNCT
eistud-25731	144	9	the	the	DET
eistud-25731	144	10	presented	present	VERB
eistud-25731	144	11	results	result	NOUN
eistud-25731	144	12	of	of	ADP
eistud-25731	144	13	a	a	DET
eistud-25731	144	14	moving	move	VERB
eistud-25731	144	15	correlation	correlation	NOUN
eistud-25731	144	16	analysis	analysis	NOUN
eistud-25731	144	17	and	and	CCONJ
eistud-25731	144	18	a	a	DET
eistud-25731	144	19	simple	simple	ADJ
eistud-25731	144	20	vecm	vecm	NOUN
eistud-25731	144	21	model	model	NOUN
eistud-25731	144	22	for	for	ADP
eistud-25731	144	23	ellp	ellp	PROPN
eistud-25731	144	24	countries	country	NOUN
eistud-25731	144	25	allow	allow	VERB
eistud-25731	144	26	to	to	PART
eistud-25731	144	27	conclude	conclude	VERB
eistud-25731	144	28	on	on	ADP
eistud-25731	144	29	a	a	DET
eistud-25731	144	30	transition	transition	NOUN
eistud-25731	144	31	of	of	ADP
eistud-25731	144	32	the	the	DET
eistud-25731	144	33	monetary	monetary	ADJ
eistud-25731	144	34	policy	policy	NOUN
eistud-25731	144	35	in	in	ADP
eistud-25731	144	36	the	the	DET
eistud-25731	144	37	region	region	NOUN
eistud-25731	144	38	.	.	PUNCT
eistud-25731	145	1	conclusions	conclusion	NOUN
eistud-25731	145	2	after	after	ADP
eistud-25731	145	3	a	a	DET
eistud-25731	145	4	long	long	ADJ
eistud-25731	145	5	period	period	NOUN
eistud-25731	145	6	of	of	ADP
eistud-25731	145	7	exclusion	exclusion	NOUN
eistud-25731	145	8	from	from	ADP
eistud-25731	145	9	the	the	DET
eistud-25731	145	10	global	global	ADJ
eistud-25731	145	11	economy	economy	NOUN
eistud-25731	145	12	,	,	PUNCT
eistud-25731	145	13	estonia	estonia	PROPN
eistud-25731	145	14	,	,	PUNCT
eistud-25731	145	15	latvia	latvia	PROPN
eistud-25731	145	16	,	,	PUNCT
eistud-25731	145	17	lithuania	lithuania	PROPN
eistud-25731	145	18	and	and	CCONJ
eistud-25731	145	19	poland	poland	PROPN
eistud-25731	145	20	initiated	initiate	VERB
eistud-25731	145	21	economic	economic	ADJ
eistud-25731	145	22	transformation	transformation	NOUN
eistud-25731	145	23	in	in	ADP
eistud-25731	145	24	1990s	1990s	NUM
eistud-25731	145	25	.	.	PUNCT
eistud-25731	146	1	they	they	PRON
eistud-25731	146	2	were	be	AUX
eistud-25731	146	3	successful	successful	ADJ
eistud-25731	146	4	and	and	CCONJ
eistud-25731	146	5	managed	manage	VERB
eistud-25731	146	6	to	to	PART
eistud-25731	146	7	move	move	VERB
eistud-25731	146	8	to	to	ADP
eistud-25731	146	9	a	a	DET
eistud-25731	146	10	system	system	NOUN
eistud-25731	146	11	based	base	VERB
eistud-25731	146	12	on	on	ADP
eistud-25731	146	13	private	private	ADJ
eistud-25731	146	14	ownership	ownership	NOUN
eistud-25731	146	15	of	of	ADP
eistud-25731	146	16	production	production	NOUN
eistud-25731	146	17	factors	factor	NOUN
eistud-25731	146	18	.	.	PUNCT
eistud-25731	147	1	the	the	DET
eistud-25731	147	2	enormous	enormous	ADJ
eistud-25731	147	3	effort	effort	NOUN
eistud-25731	147	4	of	of	ADP
eistud-25731	147	5	societies	society	NOUN
eistud-25731	147	6	in	in	ADP
eistud-25731	147	7	ellp	ellp	PROPN
eistud-25731	147	8	countries	country	NOUN
eistud-25731	147	9	was	be	AUX
eistud-25731	147	10	supported	support	VERB
eistud-25731	147	11	by	by	ADP
eistud-25731	147	12	global	global	ADJ
eistud-25731	147	13	trends	trend	NOUN
eistud-25731	147	14	in	in	ADP
eistud-25731	147	15	liberalization	liberalization	NOUN
eistud-25731	147	16	of	of	ADP
eistud-25731	147	17	trade	trade	NOUN
eistud-25731	147	18	and	and	CCONJ
eistud-25731	147	19	investment	investment	NOUN
eistud-25731	147	20	and	and	CCONJ
eistud-25731	147	21	regional	regional	ADJ
eistud-25731	147	22	economic	economic	ADJ
eistud-25731	147	23	integration	integration	NOUN
eistud-25731	147	24	within	within	ADP
eistud-25731	147	25	europe	europe	PROPN
eistud-25731	147	26	.	.	PUNCT
eistud-25731	148	1	the	the	DET
eistud-25731	148	2	phase	phase	NOUN
eistud-25731	148	3	of	of	ADP
eistud-25731	148	4	transformation	transformation	NOUN
eistud-25731	148	5	and	and	CCONJ
eistud-25731	148	6	economic	economic	ADJ
eistud-25731	148	7	integration	integration	NOUN
eistud-25731	148	8	was	be	AUX
eistud-25731	148	9	finalized	finalize	VERB
eistud-25731	148	10	with	with	ADP
eistud-25731	148	11	accession	accession	NOUN
eistud-25731	148	12	to	to	ADP
eistud-25731	148	13	the	the	DET
eistud-25731	148	14	european	european	PROPN
eistud-25731	148	15	union	union	PROPN
eistud-25731	148	16	in	in	ADP
eistud-25731	148	17	2004	2004	NUM
eistud-25731	148	18	.	.	PUNCT
eistud-25731	149	1	from	from	ADP
eistud-25731	149	2	that	that	DET
eistud-25731	149	3	moment	moment	NOUN
eistud-25731	149	4	all	all	DET
eistud-25731	149	5	these	these	DET
eistud-25731	149	6	countries	country	NOUN
eistud-25731	149	7	benefited	benefit	VERB
eistud-25731	149	8	from	from	ADP
eistud-25731	149	9	three	three	NUM
eistud-25731	149	10	freedoms	freedom	NOUN
eistud-25731	149	11	of	of	ADP
eistud-25731	149	12	the	the	DET
eistud-25731	149	13	common	common	ADJ
eistud-25731	149	14	market	market	NOUN
eistud-25731	149	15	.	.	PUNCT
eistud-25731	150	1	one	one	PRON
eistud-25731	150	2	could	could	AUX
eistud-25731	150	3	expect	expect	VERB
eistud-25731	150	4	that	that	SCONJ
eistud-25731	150	5	such	such	DET
eistud-25731	150	6	a	a	DET
eistud-25731	150	7	framework	framework	NOUN
eistud-25731	150	8	would	would	AUX
eistud-25731	150	9	facilitate	facilitate	VERB
eistud-25731	150	10	further	further	ADJ
eistud-25731	150	11	real	real	ADJ
eistud-25731	150	12	and	and	CCONJ
eistud-25731	150	13	nominal	nominal	ADJ
eistud-25731	150	14	convergence	convergence	NOUN
eistud-25731	150	15	.	.	PUNCT
eistud-25731	151	1	this	this	PRON
eistud-25731	151	2	is	be	AUX
eistud-25731	151	3	a	a	DET
eistud-25731	151	4	matter	matter	NOUN
eistud-25731	151	5	of	of	ADP
eistud-25731	151	6	high	high	ADJ
eistud-25731	151	7	importance	importance	NOUN
eistud-25731	151	8	for	for	ADP
eistud-25731	151	9	all	all	DET
eistud-25731	151	10	prospect	prospect	PROPN
eistud-25731	151	11	emu	emu	PROPN
eistud-25731	151	12	members	member	NOUN
eistud-25731	151	13	.	.	PUNCT
eistud-25731	152	1	according	accord	VERB
eistud-25731	152	2	to	to	ADP
eistud-25731	152	3	the	the	DET
eistud-25731	152	4	results	result	NOUN
eistud-25731	152	5	,	,	PUNCT
eistud-25731	152	6	obtained	obtain	VERB
eistud-25731	152	7	in	in	ADP
eistud-25731	152	8	the	the	DET
eistud-25731	152	9	presented	present	VERB
eistud-25731	152	10	research	research	NOUN
eistud-25731	152	11	,	,	PUNCT
eistud-25731	152	12	the	the	DET
eistud-25731	152	13	four	four	NUM
eistud-25731	152	14	countries	country	NOUN
eistud-25731	152	15	were	be	AUX
eistud-25731	152	16	conducting	conduct	VERB
eistud-25731	152	17	a	a	DET
eistud-25731	152	18	distinct	distinct	ADJ
eistud-25731	152	19	monetary	monetary	ADJ
eistud-25731	152	20	policy	policy	NOUN
eistud-25731	152	21	prior	prior	ADV
eistud-25731	152	22	to	to	ADP
eistud-25731	152	23	the	the	DET
eistud-25731	152	24	eu	eu	PROPN
eistud-25731	152	25	accession	accession	NOUN
eistud-25731	152	26	(	(	PUNCT
eistud-25731	152	27	2nd	2nd	ADJ
eistud-25731	152	28	quarter	quarter	NOUN
eistud-25731	152	29	2004	2004	NUM
eistud-25731	152	30	)	)	PUNCT
eistud-25731	152	31	.	.	PUNCT
eistud-25731	153	1	the	the	DET
eistud-25731	153	2	similarity	similarity	NOUN
eistud-25731	153	3	in	in	ADP
eistud-25731	153	4	monetary	monetary	ADJ
eistud-25731	153	5	policy	policy	NOUN
eistud-25731	153	6	stance	stance	NOUN
eistud-25731	153	7	was	be	AUX
eistud-25731	153	8	expected	expect	VERB
eistud-25731	153	9	to	to	PART
eistud-25731	153	10	appear	appear	VERB
eistud-25731	153	11	systematically	systematically	ADV
eistud-25731	153	12	after	after	ADP
eistud-25731	153	13	full	full	ADJ
eistud-25731	153	14	economic	economic	ADJ
eistud-25731	153	15	integration	integration	NOUN
eistud-25731	153	16	.	.	PUNCT
eistud-25731	154	1	it	it	PRON
eistud-25731	154	2	is	be	AUX
eistud-25731	154	3	fully	fully	ADV
eistud-25731	154	4	justified	justified	ADJ
eistud-25731	154	5	to	to	PART
eistud-25731	154	6	claim	claim	VERB
eistud-25731	154	7	that	that	SCONJ
eistud-25731	154	8	such	such	DET
eistud-25731	154	9	a	a	DET
eistud-25731	154	10	similarity	similarity	NOUN
eistud-25731	154	11	in	in	ADP
eistud-25731	154	12	monetary	monetary	ADJ
eistud-25731	154	13	policy	policy	NOUN
eistud-25731	154	14	stance	stance	NOUN
eistud-25731	154	15	,	,	PUNCT
eistud-25731	154	16	resulting	result	VERB
eistud-25731	154	17	from	from	ADP
eistud-25731	154	18	real	real	ADJ
eistud-25731	154	19	and	and	CCONJ
eistud-25731	154	20	nominal	nominal	ADJ
eistud-25731	154	21	convergence	convergence	NOUN
eistud-25731	154	22	,	,	PUNCT
eistud-25731	154	23	was	be	AUX
eistud-25731	154	24	increasing	increase	VERB
eistud-25731	154	25	after	after	ADP
eistud-25731	154	26	the	the	DET
eistud-25731	154	27	eu	eu	PROPN
eistud-25731	154	28	accession	accession	NOUN
eistud-25731	154	29	.	.	PUNCT
eistud-25731	155	1	convergence	convergence	NOUN
eistud-25731	155	2	in	in	ADP
eistud-25731	155	3	monetary	monetary	ADJ
eistud-25731	155	4	policy	policy	NOUN
eistud-25731	155	5	in	in	ADP
eistud-25731	155	6	the	the	DET
eistud-25731	155	7	analyzed	analyze	VERB
eistud-25731	155	8	period	period	NOUN
eistud-25731	155	9	(	(	PUNCT
eistud-25731	155	10	until	until	ADP
eistud-25731	155	11	3rd	3rd	ADJ
eistud-25731	155	12	quarter	quarter	NOUN
eistud-25731	155	13	2008	2008	NUM
eistud-25731	155	14	)	)	PUNCT
eistud-25731	155	15	was	be	AUX
eistud-25731	155	16	not	not	PART
eistud-25731	155	17	only	only	ADV
eistud-25731	155	18	in	in	ADP
eistud-25731	155	19	the	the	DET
eistud-25731	155	20	form	form	NOUN
eistud-25731	155	21	of	of	ADP
eistud-25731	155	22	strong	strong	ADJ
eistud-25731	155	23	cointegration	cointegration	NOUN
eistud-25731	155	24	but	but	CCONJ
eistud-25731	155	25	also	also	ADV
eistud-25731	155	26	in	in	ADP
eistud-25731	155	27	an	an	DET
eistud-25731	155	28	ability	ability	NOUN
eistud-25731	155	29	to	to	PART
eistud-25731	155	30	overcome	overcome	VERB
eistud-25731	155	31	any	any	DET
eistud-25731	155	32	disturbances	disturbance	NOUN
eistud-25731	155	33	much	much	ADV
eistud-25731	155	34	faster	fast	ADV
eistud-25731	155	35	,	,	PUNCT
eistud-25731	155	36	than	than	ADP
eistud-25731	155	37	in	in	ADP
eistud-25731	155	38	the	the	DET
eistud-25731	155	39	former	former	ADJ
eistud-25731	155	40	period	period	NOUN
eistud-25731	155	41	.	.	PUNCT
eistud-25731	156	1	all	all	DET
eistud-25731	156	2	these	these	DET
eistud-25731	156	3	observations	observation	NOUN
eistud-25731	156	4	based	base	VERB
eistud-25731	156	5	on	on	ADP
eistud-25731	156	6	vecm	vecm	NOUN
eistud-25731	156	7	models	model	NOUN
eistud-25731	156	8	indicate	indicate	VERB
eistud-25731	156	9	that	that	SCONJ
eistud-25731	156	10	estonia	estonia	PROPN
eistud-25731	156	11	,	,	PUNCT
eistud-25731	156	12	latvia	latvia	PROPN
eistud-25731	156	13	,	,	PUNCT
eistud-25731	156	14	lithuania	lithuania	PROPN
eistud-25731	156	15	and	and	CCONJ
eistud-25731	156	16	poland	poland	PROPN
eistud-25731	156	17	were	be	AUX
eistud-25731	156	18	subject	subject	ADJ
eistud-25731	156	19	to	to	ADP
eistud-25731	156	20	significant	significant	ADJ
eistud-25731	156	21	real	real	ADJ
eistud-25731	156	22	and	and	CCONJ
eistud-25731	156	23	nominal	nominal	ADJ
eistud-25731	156	24	convergence	convergence	NOUN
eistud-25731	156	25	that	that	PRON
eistud-25731	156	26	should	should	AUX
eistud-25731	156	27	allow	allow	VERB
eistud-25731	156	28	them	they	PRON
eistud-25731	156	29	to	to	PART
eistud-25731	156	30	become	become	VERB
eistud-25731	156	31	successful	successful	ADJ
eistud-25731	156	32	members	member	NOUN
eistud-25731	156	33	of	of	ADP
eistud-25731	156	34	the	the	DET
eistud-25731	156	35	emu	emu	PROPN
eistud-25731	156	36	in	in	ADP
eistud-25731	156	37	the	the	DET
eistud-25731	156	38	future	future	NOUN
eistud-25731	156	39	.	.	PUNCT
eistud-25731	157	1	references	reference	NOUN
eistud-25731	157	2	bernanke	bernanke	PROPN
eistud-25731	157	3	b.	b.	PROPN
eistud-25731	157	4	,	,	PUNCT
eistud-25731	157	5	mihov	mihov	PROPN
eistud-25731	157	6	i.	i.	PROPN
eistud-25731	157	7	(	(	PUNCT
eistud-25731	157	8	1998	1998	NUM
eistud-25731	157	9	)	)	PUNCT
eistud-25731	157	10	,	,	PUNCT
eistud-25731	157	11	measuring	measure	VERB
eistud-25731	157	12	monetary	monetary	ADJ
eistud-25731	157	13	policy	policy	NOUN
eistud-25731	157	14	,	,	PUNCT
eistud-25731	157	15	quarterly	quarterly	ADJ
eistud-25731	157	16	journal	journal	NOUN
eistud-25731	157	17	of	of	ADP
eistud-25731	157	18	economics	economic	NOUN
eistud-25731	157	19	,	,	PUNCT
eistud-25731	157	20	august	august	PROPN
eistud-25731	157	21	,	,	PUNCT
eistud-25731	157	22	113	113	NUM
eistud-25731	157	23	(	(	PUNCT
eistud-25731	157	24	3	3	NUM
eistud-25731	157	25	)	)	PUNCT
eistud-25731	157	26	,	,	PUNCT
eistud-25731	157	27	pp	pp	PROPN
eistud-25731	157	28	.	.	PUNCT
eistud-25731	158	1	869	869	NUM
eistud-25731	158	2	–	–	PUNCT
eistud-25731	158	3	902	902	NUM
eistud-25731	158	4	.	.	PUNCT
eistud-25731	159	1	boschen	boschen	PROPN
eistud-25731	159	2	j.	j.	PROPN
eistud-25731	159	3	,	,	PUNCT
eistud-25731	159	4	mills	mills	PROPN
eistud-25731	159	5	l.	l.	PROPN
eistud-25731	159	6	(	(	PUNCT
eistud-25731	159	7	1991	1991	NUM
eistud-25731	159	8	)	)	PUNCT
eistud-25731	159	9	,	,	PUNCT
eistud-25731	159	10	the	the	DET
eistud-25731	159	11	effects	effect	NOUN
eistud-25731	159	12	of	of	ADP
eistud-25731	159	13	countercyclical	countercyclical	ADJ
eistud-25731	159	14	policy	policy	NOUN
eistud-25731	159	15	on	on	ADP
eistud-25731	159	16	money	money	NOUN
eistud-25731	159	17	and	and	CCONJ
eistud-25731	159	18	interest	interest	NOUN
eistud-25731	159	19	rates	rate	NOUN
eistud-25731	159	20	:	:	PUNCT
eistud-25731	159	21	an	an	DET
eistud-25731	159	22	evaluation	evaluation	NOUN
eistud-25731	159	23	of	of	ADP
eistud-25731	159	24	evidence	evidence	NOUN
eistud-25731	159	25	from	from	ADP
eistud-25731	159	26	fomc	fomc	NOUN
eistud-25731	159	27	documents	document	NOUN
eistud-25731	159	28	,	,	PUNCT
eistud-25731	159	29	federal	federal	PROPN
eistud-25731	159	30	reserve	reserve	PROPN
eistud-25731	159	31	bank	bank	PROPN
eistud-25731	159	32	of	of	ADP
eistud-25731	159	33	philadelphia	philadelphia	PROPN
eistud-25731	159	34	working	working	PROPN
eistud-25731	159	35	paper	paper	NOUN
eistud-25731	159	36	,	,	PUNCT
eistud-25731	159	37	nr	nr	PROPN
eistud-25731	159	38	.	.	PROPN
eistud-25731	159	39	91	91	NUM
eistud-25731	159	40	–	–	PUNCT
eistud-25731	159	41	20	20	NUM
eistud-25731	159	42	.	.	PUNCT
eistud-25731	160	1	christiano	christiano	PROPN
eistud-25731	160	2	l.	l.	PROPN
eistud-25731	160	3	,	,	PUNCT
eistud-25731	160	4	eichenbaum	eichenbaum	PROPN
eistud-25731	160	5	m.	m.	NOUN
eistud-25731	160	6	,	,	PUNCT
eistud-25731	160	7	identification	identification	NOUN
eistud-25731	160	8	of	of	ADP
eistud-25731	160	9	the	the	DET
eistud-25731	160	10	liquidity	liquidity	NOUN
eistud-25731	160	11	effect	effect	NOUN
eistud-25731	160	12	of	of	ADP
eistud-25731	160	13	a	a	DET
eistud-25731	160	14	monetary	monetary	ADJ
eistud-25731	160	15	policy	policy	NOUN
eistud-25731	160	16	shock	shock	NOUN
eistud-25731	160	17	,	,	PUNCT
eistud-25731	160	18	[	[	X
eistud-25731	160	19	in	in	ADP
eistud-25731	160	20	]	]	PUNCT
eistud-25731	160	21	christiano	christiano	PROPN
eistud-25731	160	22	l.	l.	PROPN
eistud-25731	160	23	,	,	PUNCT
eistud-25731	160	24	motto	motto	PROPN
eistud-25731	160	25	r.	r.	PROPN
eistud-25731	160	26	,	,	PUNCT
eistud-25731	160	27	rostagno	rostagno	NOUN
eistud-25731	160	28	m.	m.	NOUN
eistud-25731	160	29	(	(	PUNCT
eistud-25731	160	30	2007	2007	NUM
eistud-25731	160	31	)	)	PUNCT
eistud-25731	160	32	,	,	PUNCT
eistud-25731	160	33	two	two	NUM
eistud-25731	160	34	reasons	reason	NOUN
eistud-25731	160	35	why	why	SCONJ
eistud-25731	160	36	money	money	NOUN
eistud-25731	160	37	and	and	CCONJ
eistud-25731	160	38	credit	credit	NOUN
eistud-25731	160	39	may	may	AUX
eistud-25731	160	40	be	be	AUX
eistud-25731	160	41	useful	useful	ADJ
eistud-25731	160	42	in	in	ADP
eistud-25731	160	43	monetary	monetary	ADJ
eistud-25731	160	44	policy	policy	NOUN
eistud-25731	160	45	,	,	PUNCT
eistud-25731	160	46	nber	nber	PROPN
eistud-25731	160	47	working	working	PROPN
eistud-25731	160	48	paper	paper	PROPN
eistud-25731	160	49	13502	13502	NUM
eistud-25731	160	50	.	.	PUNCT
eistud-25731	161	1	leeper	leeper	PROPN
eistud-25731	161	2	e.	e.	PROPN
eistud-25731	161	3	,	,	PUNCT
eistud-25731	161	4	roush	roush	PROPN
eistud-25731	161	5	j.	j.	PROPN
eistud-25731	161	6	,	,	PUNCT
eistud-25731	161	7	putting	put	VERB
eistud-25731	161	8	m	m	PRON
eistud-25731	161	9	back	back	ADV
eistud-25731	161	10	to	to	ADP
eistud-25731	161	11	monetary	monetary	ADJ
eistud-25731	161	12	policy	policy	NOUN
eistud-25731	161	13	,	,	PUNCT
eistud-25731	161	14	journal	journal	NOUN
eistud-25731	161	15	of	of	ADP
eistud-25731	161	16	money	money	NOUN
eistud-25731	161	17	,	,	PUNCT
eistud-25731	161	18	credit	credit	NOUN
eistud-25731	161	19	and	and	CCONJ
eistud-25731	161	20	banking	banking	NOUN
eistud-25731	161	21	,	,	PUNCT
eistud-25731	161	22	vol	vol	NOUN
eistud-25731	161	23	.	.	PUNCT
eistud-25731	161	24	issue	issue	NOUN
eistud-25731	161	25	2003	2003	NUM
eistud-25731	161	26	,	,	PUNCT
eistud-25731	161	27	pp	pp	ADJ
eistud-25731	161	28	.	.	PUNCT
eistud-25731	162	1	1217	1217	NUM
eistud-25731	162	2	-	-	SYM
eistud-25731	162	3	1256	1256	NUM
eistud-25731	162	4	młodkowski	młodkowski	NOUN
eistud-25731	162	5	p.	p.	NOUN
eistud-25731	162	6	,	,	PUNCT
eistud-25731	162	7	(	(	PUNCT
eistud-25731	162	8	2007	2007	NUM
eistud-25731	162	9	)	)	PUNCT
eistud-25731	162	10	,	,	PUNCT
eistud-25731	162	11	non	non	ADJ
eistud-25731	162	12	-	-	ADJ
eistud-25731	162	13	european	european	ADJ
eistud-25731	162	14	monetary	monetary	ADJ
eistud-25731	162	15	unions	union	NOUN
eistud-25731	162	16	.	.	PUNCT
eistud-25731	163	1	history	history	NOUN
eistud-25731	163	2	and	and	CCONJ
eistud-25731	163	3	operations	operation	NOUN
eistud-25731	163	4	,	,	PUNCT
eistud-25731	163	5	wn	wn	PROPN
eistud-25731	163	6	pwn	pwn	PROPN
eistud-25731	163	7	,	,	PUNCT
eistud-25731	163	8	warszawa	warszawa	PROPN
eistud-25731	163	9	.	.	PUNCT
eistud-25731	164	1	młodkowski	młodkowski	PROPN
eistud-25731	164	2	p.	p.	PROPN
eistud-25731	164	3	,	,	PUNCT
eistud-25731	164	4	(	(	PUNCT
eistud-25731	164	5	2008a	2008a	NUM
eistud-25731	164	6	)	)	PUNCT
eistud-25731	164	7	,	,	PUNCT
eistud-25731	164	8	monetary	monetary	ADJ
eistud-25731	164	9	policy	policy	NOUN
eistud-25731	164	10	of	of	ADP
eistud-25731	164	11	the	the	DET
eistud-25731	164	12	national	national	PROPN
eistud-25731	164	13	bank	bank	PROPN
eistud-25731	164	14	of	of	ADP
eistud-25731	164	15	poland	poland	PROPN
eistud-25731	164	16	and	and	CCONJ
eistud-25731	164	17	substituting	substitute	VERB
eistud-25731	164	18	bank	bank	NOUN
eistud-25731	164	19	credit	credit	NOUN
eistud-25731	164	20	with	with	ADP
eistud-25731	164	21	trade	trade	NOUN
eistud-25731	164	22	credit	credit	NOUN
eistud-25731	164	23	,	,	PUNCT
eistud-25731	164	24	gospodarka	gospodarka	PROPN
eistud-25731	164	25	narodowa	narodowa	PROPN
eistud-25731	164	26	,	,	PUNCT
eistud-25731	164	27	2/2008	2/2008	NOUN
eistud-25731	164	28	,	,	PUNCT
eistud-25731	164	29	pp	pp	X
eistud-25731	164	30	.	.	NOUN
eistud-25731	164	31	1	1	NUM
eistud-25731	164	32	–	–	SYM
eistud-25731	164	33	18	18	NUM
eistud-25731	164	34	.	.	PUNCT
eistud-25731	165	1	młodkowski	młodkowski	PROPN
eistud-25731	165	2	p.	p.	PROPN
eistud-25731	165	3	(	(	PUNCT
eistud-25731	165	4	2008b	2008b	NUM
eistud-25731	165	5	)	)	PUNCT
eistud-25731	165	6	,	,	PUNCT
eistud-25731	165	7	similarity	similarity	NOUN
eistud-25731	165	8	in	in	ADP
eistud-25731	165	9	economy	economy	NOUN
eistud-25731	165	10	-	-	PUNCT
eistud-25731	165	11	wide	wide	ADJ
eistud-25731	165	12	reaction	reaction	NOUN
eistud-25731	165	13	for	for	ADP
eistud-25731	165	14	monetary	monetary	ADJ
eistud-25731	165	15	policy	policy	NOUN
eistud-25731	165	16	as	as	ADP
eistud-25731	165	17	another	another	DET
eistud-25731	165	18	oca	oca	NOUN
eistud-25731	165	19	criterion	criterion	NOUN
eistud-25731	165	20	.	.	PUNCT
eistud-25731	166	1	monetary	monetary	ADJ
eistud-25731	166	2	policy	policy	NOUN
eistud-25731	166	3	and	and	CCONJ
eistud-25731	166	4	trade	trade	NOUN
eistud-25731	166	5	credit	credit	NOUN
eistud-25731	166	6	,	,	PUNCT
eistud-25731	166	7	banks	bank	NOUN
eistud-25731	166	8	and	and	CCONJ
eistud-25731	166	9	bank	bank	NOUN
eistud-25731	166	10	systems	system	NOUN
eistud-25731	166	11	,	,	PUNCT
eistud-25731	166	12	vol	vol	NOUN
eistud-25731	166	13	.	.	PROPN
eistud-25731	166	14	3	3	NUM
eistud-25731	166	15	,	,	PUNCT
eistud-25731	166	16	issue	issue	NOUN
eistud-25731	166	17	2	2	NUM
eistud-25731	166	18	,	,	PUNCT
eistud-25731	166	19	pp	pp	ADJ
eistud-25731	166	20	.	.	PUNCT
eistud-25731	166	21	5	5	NUM
eistud-25731	166	22	–	–	SYM
eistud-25731	166	23	13	13	NUM
eistud-25731	166	24	.	.	PUNCT
eistud-25731	167	1	issn	issn	PROPN
eistud-25731	167	2	1822	1822	NUM
eistud-25731	167	3	-	-	SYM
eistud-25731	167	4	8402	8402	NUM
eistud-25731	167	5	european	european	ADJ
eistud-25731	167	6	integration	integration	NOUN
eistud-25731	167	7	studies	study	NOUN
eistud-25731	167	8	.	.	PUNCT
eistud-25731	168	1	2009	2009	NUM
eistud-25731	168	2	.	.	PUNCT
eistud-25731	169	1	no	no	DET
eistud-25731	169	2	3	3	NUM
eistud-25731	169	3	125	125	NUM
eistud-25731	169	4	młodkowski	młodkowski	NOUN
eistud-25731	169	5	p.	p.	NOUN
eistud-25731	169	6	(	(	PUNCT
eistud-25731	169	7	2009	2009	NUM
eistud-25731	169	8	)	)	PUNCT
eistud-25731	169	9	,	,	PUNCT
eistud-25731	169	10	financial	financial	ADJ
eistud-25731	169	11	integration	integration	NOUN
eistud-25731	169	12	and	and	CCONJ
eistud-25731	169	13	ability	ability	NOUN
eistud-25731	169	14	to	to	PART
eistud-25731	169	15	conduct	conduct	VERB
eistud-25731	169	16	an	an	DET
eistud-25731	169	17	independent	independent	ADJ
eistud-25731	169	18	monetary	monetary	ADJ
eistud-25731	169	19	policy	policy	NOUN
eistud-25731	169	20	.	.	PUNCT
eistud-25731	170	1	case	case	NOUN
eistud-25731	170	2	of	of	ADP
eistud-25731	170	3	japan	japan	PROPN
eistud-25731	170	4	and	and	CCONJ
eistud-25731	170	5	the	the	DET
eistud-25731	170	6	usa	usa	PROPN
eistud-25731	170	7	,	,	PUNCT
eistud-25731	170	8	international	international	ADJ
eistud-25731	170	9	journal	journal	NOUN
eistud-25731	170	10	of	of	ADP
eistud-25731	170	11	economic	economic	ADJ
eistud-25731	170	12	policy	policy	NOUN
eistud-25731	170	13	studies	study	NOUN
eistud-25731	170	14	,	,	PUNCT
eistud-25731	170	15	forthcoming	forthcoming	ADJ
eistud-25731	170	16	młodkowski	młodkowski	ADJ
eistud-25731	170	17	p.	p.	NOUN
eistud-25731	170	18	(	(	PUNCT
eistud-25731	170	19	2007	2007	NUM
eistud-25731	170	20	)	)	PUNCT
eistud-25731	170	21	,	,	PUNCT
eistud-25731	170	22	convergence	convergence	NOUN
eistud-25731	170	23	in	in	ADP
eistud-25731	170	24	monetary	monetary	ADJ
eistud-25731	170	25	policy	policy	NOUN
eistud-25731	170	26	stance	stance	NOUN
eistud-25731	170	27	during	during	ADP
eistud-25731	170	28	pre	pre	ADJ
eistud-25731	170	29	-	-	ADJ
eistud-25731	170	30	emu	emu	PROPN
eistud-25731	170	31	period	period	NOUN
eistud-25731	170	32	case	case	NOUN
eistud-25731	170	33	of	of	ADP
eistud-25731	170	34	czech	czech	PROPN
eistud-25731	170	35	republic	republic	PROPN
eistud-25731	170	36	and	and	CCONJ
eistud-25731	170	37	poland	poland	PROPN
eistud-25731	170	38	,	,	PUNCT
eistud-25731	170	39	[	[	X
eistud-25731	170	40	in	in	ADP
eistud-25731	170	41	]	]	PUNCT
eistud-25731	170	42	poloucek	poloucek	NOUN
eistud-25731	170	43	,	,	PUNCT
eistud-25731	170	44	s.	s.	PROPN
eistud-25731	170	45	,	,	PUNCT
eistud-25731	170	46	stavarek	stavarek	NOUN
eistud-25731	170	47	,	,	PUNCT
eistud-25731	170	48	d.	d.	PROPN
eistud-25731	170	49	(	(	PUNCT
eistud-25731	170	50	eds	eds	PROPN
eistud-25731	170	51	.	.	PUNCT
eistud-25731	170	52	)	)	PUNCT
eistud-25731	171	1	future	future	NOUN
eistud-25731	171	2	of	of	ADP
eistud-25731	171	3	banking	banking	NOUN
eistud-25731	171	4	after	after	ADP
eistud-25731	171	5	the	the	DET
eistud-25731	171	6	year	year	NOUN
eistud-25731	171	7	2000	2000	NUM
eistud-25731	171	8	in	in	ADP
eistud-25731	171	9	the	the	DET
eistud-25731	171	10	world	world	NOUN
eistud-25731	171	11	and	and	CCONJ
eistud-25731	171	12	in	in	ADP
eistud-25731	171	13	the	the	DET
eistud-25731	171	14	czech	czech	PROPN
eistud-25731	171	15	republic	republic	NOUN
eistud-25731	171	16	(	(	PUNCT
eistud-25731	171	17	volume	volume	NOUN
eistud-25731	171	18	xi	xi	ADP
eistud-25731	171	19	finance	finance	NOUN
eistud-25731	171	20	and	and	CCONJ
eistud-25731	171	21	banking	banking	NOUN
eistud-25731	171	22	)	)	PUNCT
eistud-25731	171	23	.	.	PUNCT
eistud-25731	172	1	karvina	karvina	PROPN
eistud-25731	172	2	:	:	PUNCT
eistud-25731	172	3	silesian	silesian	PROPN
eistud-25731	172	4	university	university	PROPN
eistud-25731	172	5	,	,	PUNCT
eistud-25731	172	6	pp	pp	ADJ
eistud-25731	172	7	.	.	PUNCT
eistud-25731	173	1	558	558	NUM
eistud-25731	173	2	–	–	PUNCT
eistud-25731	173	3	571	571	NUM
eistud-25731	173	4	.	.	PUNCT
eistud-25731	174	1	młodkowski	młodkowski	PROPN
eistud-25731	174	2	p.	p.	PROPN
eistud-25731	174	3	,	,	PUNCT
eistud-25731	174	4	kredyt	kredyt	PROPN
eistud-25731	174	5	handlowy	handlowy	VERB
eistud-25731	174	6	a	a	DET
eistud-25731	174	7	polityka	polityka	ADJ
eistud-25731	174	8	pieniężna	pieniężna	NOUN
eistud-25731	174	9	nbp	nbp	PROPN
eistud-25731	174	10	,	,	PUNCT
eistud-25731	174	11	gospodarka	gospodarka	PROPN
eistud-25731	174	12	narodowa	narodowa	PROPN
eistud-25731	174	13	nr	nr	PROPN
eistud-25731	174	14	3/2008	3/2008	PROPN
eistud-25731	174	15	,	,	PUNCT
eistud-25731	174	16	pp	pp	ADJ
eistud-25731	174	17	.	.	PUNCT
eistud-25731	175	1	1	1	NUM
eistud-25731	175	2	-	-	SYM
eistud-25731	175	3	18	18	NUM
eistud-25731	175	4	.	.	PUNCT
eistud-25731	176	1	mulligan	mulligan	PROPN
eistud-25731	176	2	c.	c.	PROPN
eistud-25731	176	3	b.	b.	PROPN
eistud-25731	176	4	and	and	CCONJ
eistud-25731	176	5	x.	x.	NOUN
eistud-25731	176	6	x.	x.	PROPN
eistud-25731	176	7	sala	sala	PROPN
eistud-25731	176	8	-	-	PUNCT
eistud-25731	176	9	i	i	PROPN
eistud-25731	176	10	-	-	PUNCT
eistud-25731	176	11	martin	martin	PROPN
eistud-25731	176	12	(	(	PUNCT
eistud-25731	176	13	1997	1997	NUM
eistud-25731	176	14	)	)	PUNCT
eistud-25731	176	15	,	,	PUNCT
eistud-25731	176	16	the	the	DET
eistud-25731	176	17	optimum	optimum	ADJ
eistud-25731	176	18	quantity	quantity	NOUN
eistud-25731	176	19	of	of	ADP
eistud-25731	176	20	money	money	NOUN
eistud-25731	176	21	:	:	PUNCT
eistud-25731	176	22	theory	theory	NOUN
eistud-25731	176	23	and	and	CCONJ
eistud-25731	176	24	evidence	evidence	NOUN
eistud-25731	176	25	,	,	PUNCT
eistud-25731	176	26	journal	journal	NOUN
eistud-25731	176	27	of	of	ADP
eistud-25731	176	28	money	money	NOUN
eistud-25731	176	29	,	,	PUNCT
eistud-25731	176	30	credit	credit	NOUN
eistud-25731	176	31	,	,	PUNCT
eistud-25731	176	32	and	and	CCONJ
eistud-25731	176	33	banking	banking	NOUN
eistud-25731	176	34	,	,	PUNCT
eistud-25731	176	35	1997	1997	NUM
eistud-25731	176	36	,	,	PUNCT
eistud-25731	176	37	29	29	NUM
eistud-25731	176	38	(	(	PUNCT
eistud-25731	176	39	part	part	NOUN
eistud-25731	176	40	2	2	NUM
eistud-25731	176	41	:	:	PUNCT
eistud-25731	176	42	dynamic	dynamic	ADJ
eistud-25731	176	43	effects	effect	NOUN
eistud-25731	176	44	of	of	ADP
eistud-25731	176	45	monetary	monetary	ADJ
eistud-25731	176	46	policy	policy	NOUN
eistud-25731	176	47	)	)	PUNCT
eistud-25731	176	48	,	,	PUNCT
eistud-25731	177	1	pp	pp	ADP
eistud-25731	177	2	.	.	PUNCT
eistud-25731	178	1	687	687	NUM
eistud-25731	178	2	-	-	SYM
eistud-25731	178	3	715	715	NUM
eistud-25731	178	4	.	.	PUNCT
eistud-25731	179	1	reynard	reynard	PROPN
eistud-25731	179	2	s.	s.	PROPN
eistud-25731	179	3	,	,	PUNCT
eistud-25731	179	4	(	(	PUNCT
eistud-25731	179	5	2007	2007	NUM
eistud-25731	179	6	)	)	PUNCT
eistud-25731	179	7	,	,	PUNCT
eistud-25731	179	8	maintaining	maintain	VERB
eistud-25731	179	9	low	low	ADJ
eistud-25731	179	10	inflation	inflation	NOUN
eistud-25731	179	11	:	:	PUNCT
eistud-25731	179	12	money	money	NOUN
eistud-25731	179	13	,	,	PUNCT
eistud-25731	179	14	interest	interest	NOUN
eistud-25731	179	15	rates	rate	NOUN
eistud-25731	179	16	,	,	PUNCT
eistud-25731	179	17	and	and	CCONJ
eistud-25731	179	18	policy	policy	NOUN
eistud-25731	179	19	stance	stance	NOUN
eistud-25731	179	20	,	,	PUNCT
eistud-25731	179	21	journal	journal	NOUN
eistud-25731	179	22	of	of	ADP
eistud-25731	179	23	monetary	monetary	ADJ
eistud-25731	179	24	economics	economic	NOUN
eistud-25731	179	25	,	,	PUNCT
eistud-25731	179	26	vol	vol	NOUN
eistud-25731	179	27	.	.	PUNCT
eistud-25731	179	28	54(5	54(5	NUM
eistud-25731	179	29	)	)	PUNCT
eistud-25731	179	30	,	,	PUNCT
eistud-25731	179	31	(	(	PUNCT
eistud-25731	179	32	july	july	PROPN
eistud-25731	179	33	2007	2007	NUM
eistud-25731	179	34	)	)	PUNCT
eistud-25731	179	35	,	,	PUNCT
eistud-25731	179	36	pp	pp	ADP
eistud-25731	179	37	.	.	PUNCT
eistud-25731	179	38	1441	1441	NUM
eistud-25731	179	39	-	-	SYM
eistud-25731	179	40	1471	1471	NUM
eistud-25731	179	41	.	.	PUNCT
eistud-25731	180	1	reynard	reynard	PROPN
eistud-25731	180	2	s.	s.	PROPN
eistud-25731	180	3	(	(	PUNCT
eistud-25731	180	4	2007	2007	NUM
eistud-25731	180	5	)	)	PUNCT
eistud-25731	180	6	,	,	PUNCT
eistud-25731	180	7	maintainig	maintainig	NOUN
eistud-25731	180	8	low	low	ADJ
eistud-25731	180	9	inflation	inflation	NOUN
eistud-25731	180	10	:	:	PUNCT
eistud-25731	180	11	money	money	NOUN
eistud-25731	180	12	,	,	PUNCT
eistud-25731	180	13	interest	interest	NOUN
eistud-25731	180	14	rates	rate	NOUN
eistud-25731	180	15	,	,	PUNCT
eistud-25731	180	16	and	and	CCONJ
eistud-25731	180	17	policy	policy	NOUN
eistud-25731	180	18	stance	stance	NOUN
eistud-25731	180	19	,	,	PUNCT
eistud-25731	180	20	swiss	swiss	ADJ
eistud-25731	180	21	national	national	PROPN
eistud-25731	180	22	bank	bank	PROPN
eistud-25731	180	23	working	work	VERB
eistud-25731	180	24	papers	paper	NOUN
eistud-25731	180	25	,	,	PUNCT
eistud-25731	180	26	2007	2007	NUM
eistud-25731	180	27	–	–	PUNCT
eistud-25731	180	28	5	5	NUM
eistud-25731	180	29	.	.	X
eistud-25731	180	30	romer	romer	PROPN
eistud-25731	180	31	ch	ch	PROPN
eistud-25731	180	32	.	.	PROPN
eistud-25731	180	33	,	,	PUNCT
eistud-25731	180	34	romer	romer	PROPN
eistud-25731	180	35	d.	d.	PROPN
eistud-25731	180	36	(	(	PUNCT
eistud-25731	180	37	1989	1989	NUM
eistud-25731	180	38	)	)	PUNCT
eistud-25731	180	39	,	,	PUNCT
eistud-25731	180	40	does	do	VERB
eistud-25731	180	41	monetary	monetary	ADJ
eistud-25731	180	42	policy	policy	NOUN
eistud-25731	180	43	matter	matter	NOUN
eistud-25731	180	44	?	?	PUNCT
eistud-25731	181	1	a	a	DET
eistud-25731	181	2	new	new	ADJ
eistud-25731	181	3	test	test	NOUN
eistud-25731	181	4	in	in	ADP
eistud-25731	181	5	the	the	DET
eistud-25731	181	6	spirit	spirit	NOUN
eistud-25731	181	7	of	of	ADP
eistud-25731	181	8	friedman	friedman	PROPN
eistud-25731	181	9	and	and	CCONJ
eistud-25731	181	10	schwartz	schwartz	PROPN
eistud-25731	181	11	,	,	PUNCT
eistud-25731	181	12	[	[	X
eistud-25731	181	13	in	in	ADP
eistud-25731	181	14	]	]	PUNCT
eistud-25731	181	15	o.	o.	PROPN
eistud-25731	181	16	blanchard	blanchard	PROPN
eistud-25731	181	17	,	,	PUNCT
eistud-25731	181	18	s.	s.	PROPN
eistud-25731	181	19	fisher	fisher	PROPN
eistud-25731	181	20	,	,	PUNCT
eistud-25731	181	21	nber	nber	PROPN
eistud-25731	181	22	macroeconomics	macroeconomic	NOUN
eistud-25731	181	23	annual	annual	ADJ
eistud-25731	181	24	.	.	PUNCT
eistud-25731	182	1	world	world	PROPN
eistud-25731	182	2	economic	economic	PROPN
eistud-25731	182	3	outlook	outlook	NOUN
eistud-25731	182	4	2009	2009	NUM
eistud-25731	182	5	,	,	PUNCT
eistud-25731	182	6	imf	imf	PROPN
eistud-25731	182	7	,	,	PUNCT
eistud-25731	182	8	washington	washington	PROPN
eistud-25731	182	9	d.c	d.c	PROPN
eistud-25731	182	10	.	.	PUNCT
eistud-25731	183	1	the	the	DET
eistud-25731	183	2	article	article	NOUN
eistud-25731	183	3	has	have	AUX
eistud-25731	183	4	been	be	AUX
eistud-25731	183	5	reviewed	review	VERB
eistud-25731	183	6	.	.	PUNCT
eistud-25731	184	1	received	receive	VERB
eistud-25731	184	2	in	in	ADP
eistud-25731	184	3	march	march	PROPN
eistud-25731	184	4	,	,	PUNCT
eistud-25731	184	5	2009	2009	NUM
eistud-25731	184	6	;	;	PUNCT
eistud-25731	184	7	accepted	accept	VERB
eistud-25731	184	8	in	in	ADP
eistud-25731	184	9	april	april	PROPN
eistud-25731	184	10	,	,	PUNCT
eistud-25731	184	11	2009	2009	NUM
eistud-25731	184	12	.	.	PUNCT