Journal article | Zeitschriftenartikel
The price effects of joining the Euro: Modelling the Greek experience using non-linear price-adjustment models
We test the widely-held hypothesis that accession to the EMU has caused a structural increase in Greek consumer prices. We find no econometric evidence of such an effect. We also find strong evidence of (a) multiple structural breaks in the process driving Greek equilibrium consumer prices and (b) non-linear price adjustment. Our findings explain the post-EMU accession acceleration in Greek prices as normal, equilibrium-restoring behaviour. They also have important policy implications for the countries planning to join the Euro in the foreseeable future.
- Extent
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Seite(n): 493-503
- Language
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Englisch
- Notes
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Status: Postprint; begutachtet (peer reviewed)
- Bibliographic citation
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Applied Economics, 39(4)
- Event
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Geistige Schöpfung
- (who)
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Arghyrou, Michael
- Event
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Veröffentlichung
- (when)
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2007
- DOI
- URN
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urn:nbn:de:0168-ssoar-239089
- Rights
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GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Last update
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21.06.2024, 4:26 PM CEST
Data provider
This object is provided by:
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. If you have any questions about the object, please contact the data provider.
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. If you have any questions about the object, please contact the data provider.
Object type
- Zeitschriftenartikel
Associated
- Arghyrou, Michael
Time of origin
- 2007
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