2018, Volume 71 - Issue 3
RSS feed citation: At RePEc
Publication date: 03 August 2018
IL FUTURO DELL'EUROPA: PROSPETTIVE ECONOMICHE E SOCIALI - WELCOME ADDRESSRead the article
WHY A EUROZONE COLLAPSE SHOULD NOT BE A SURPRISE: THE ROLE OF GERMANY AND GREECERead the article
FINANCIAL CRISIS, BANKING SECTOR PERFORMANCE AND ECONOMIC GROWTH IN THE EUROPEAN UNIONRead the article
FIXING THE EUROZONE SETUP: ON VIABLE FORMS OF FISCAL UNIONRead the article
AMONG THE CENTRAL AND EASTERN EUROPEAN COUNTRIES OF THE EUROPEAN UNION, WHO GAINED AND WHO LOST?Read the article
Alexi THOMPSON, Department of Economics, Indiana University of Pennsylvania, Indiana, USA
Henry THOMPSON, Department of Economics, Auburn University, Auburn, Alabama, USA
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.
F10, F14, F31
Exchange Rate Regime, Greece, Euro Zone, Current Account, Trade Balance
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