Testing the credibility of stabilization programmes. Evidence from Greece

Testing the credibility of stabilization programmes. Evidence from Greece

This paper tests the size and the diffusion effect of the credibility factors of the stabilization programme implemented in Greece in 1985, by means of a two‐step procedure which focuses on the analysis of the time‐series properties of the parallel market premium and the inflation process. An intere...

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Veröffentlicht in:International journal of finance and economics 2000-04, Vol.5 (2), p.165-173
Hauptverfasser: Karfakis, Costas, Sidiropoulos, Moïse, Trabelsi, Jamel
Format: Artikel
Sprache:eng
Schlagworte:
Consumer Price Index
Copyright
Credibility
Economic stabilization
Foreign exchange rates
Inflation
inflation persistence
Monetary policy
parallel market premium
square root Kalman filter
stabilization
Studies
Time series
Wages & salaries
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container_title International journal of finance and economics
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creator Karfakis, Costas
Sidiropoulos, Moïse
Trabelsi, Jamel
description This paper tests the size and the diffusion effect of the credibility factors of the stabilization programme implemented in Greece in 1985, by means of a two‐step procedure which focuses on the analysis of the time‐series properties of the parallel market premium and the inflation process. An interesting aspect of the analysis is the evidence that the stabilization plan gained credibility rapidly, and its impact on the inflation dynamics was significant. Copyright © 2000 John Wiley & Sons, Ltd.
doi_str_mv 10.1002/(SICI)1099-1158(200004)5:2<165::AID-IJFE120>3.0.CO;2-Q
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source Wiley Online Library Journals Frontfile Complete; Business Source Complete
subjects Consumer Price Index
Copyright
Credibility
Economic stabilization
Foreign exchange rates
Inflation
inflation persistence
Monetary policy
parallel market premium
square root Kalman filter
stabilization
Studies
Time series
Wages & salaries
title Testing the credibility of stabilization programmes. Evidence from Greece
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