Contents of the volume

2018, Volume 71 - Issue 3

ISSN: 2499-8265
RSS feed citation: At RePEc
Publication date: 03 August 2018

THE FUTURE OF EUROPE: ECONOMIC AND SOCIAL PROSPECTS

Amedeo Amato

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IL FUTURO DELL'EUROPA: PROSPETTIVE ECONOMICHE E SOCIALI - WELCOME ADDRESS

Paolo Odone

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EUROPE'S FUTURE: ECONOMIC AND SOCIAL PROSPECTS

Angelo Bagnasco

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EUROPE'S FUTURE AT THE CROSSROADS: THE CHALLENGE OF IMMIGRATION

Stefano Stefanini

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WHY A EUROZONE COLLAPSE SHOULD NOT BE A SURPRISE: THE ROLE OF GERMANY AND GREECE

George Zestos, Morgan H. Simmons

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FINANCIAL CRISIS, BANKING SECTOR PERFORMANCE AND ECONOMIC GROWTH IN THE EUROPEAN UNION

Cândida Ferreira

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FIXING THE EUROZONE SETUP: ON VIABLE FORMS OF FISCAL UNION

Luca Gandullia, Franco Praussello

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AMONG THE CENTRAL AND EASTERN EUROPEAN COUNTRIES OF THE EUROPEAN UNION, WHO GAINED AND WHO LOST?

Miroslav N. Jovanovic, Jelena Damnjanovic, Jovan Njegic

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THE EXCHANGE RATE REGIME SWITCH AND CURRENT ACCOUNT IN GREECE, 1976-2014

Alexi Thompson, Henry Thompson

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Genoa Chamber of Commerce
Economia Internazionale / International Economics

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Corresponding author

Alexi THOMPSON, Department of Economics, Indiana University of Pennsylvania, Indiana, USA

Co-authors

Henry THOMPSON, Department of Economics, Auburn University, Auburn, Alabama, USA

The Exchange Rate Regime Switch and Current Account in Greece, 1976-2014

Pages

371-386

Abstract

This paper examines the effects of the 2001 switch in exchange rate regimes from the depreciating drachma to the “gold standard” euro in Greece.  In the error correction estimates, the regime break decreases export revenue from goods but also decreases import spending on both goods and services.  International income and payments are not affected.  Depreciation has the same effects under either regime, namely decreased import spending on goods and services and increased export revenue from goods.  The models control for the 2008 government debt crisis that lowered import spending and led to balanced trade.

JEL classification

F10, F14, F31

Keywords

Exchange Rate Regime, Greece, Euro Zone, Current Account, Trade Balance

Index

  1. Introduction
  2. Trade and exchange rate
  3. Models of the current account
  4. Model estimates
  5. Conclusion

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