DC FieldValueLanguage
dc.contributor.authorStamatopoulos, Theodoros-
dc.date.accessioned2024-02-27T19:11:08Z-
dc.date.available2024-02-27T19:11:08Z-
dc.date.issued2000-
dc.identifiergoogle_scholar-mdDxtD8AAAAJ:2osOgNQ5qMEC-
dc.identifier.issn1108-2976-
dc.identifier.othermdDxtD8AAAAJ:2osOgNQ5qMEC-
dc.identifier.urihttps://uniwacris.uniwa.gr/handle/3000/1231-
dc.description.abstractThe paper presents empirical results on an import prices equation to the case of the small open Hellenic economy, during her course to the European Monetary Union, in the 1980s until mid-1990s. The analysis employs cointegration theory to examine the long-run co-movements of prices, effective exchange rate of GRD and unit labour cost of the European countries, which export to Greece. Innovation accounting is also used so as to detect the dynamics of the data set. We found slight evidence to support long run equilibrium, however, it was only the Hellenic inflation rate, which was adjusting to the deviations from this. The fragile stability of the system is confirmed by the impulse response functions examination where the exchange rate of the GRD do not converge to its long-run values, even after a 3 years period from the one unit-shock in various innovations. The determinant role of the growth rate of the unit labour cost and therefore of European countries’ prices to the exchange rate of GRD, to the Hellenic inflation rate, and less to the growth rate of the import prices is (1) justified by its high proportion to their variance decomposition and (2) became apparent approximately after 9 months. The latter seems to amount to the “contract-period” in the Magee’s terminology.en_US
dc.language.isoenen_US
dc.relation.ispartofEuropean Research Studies Journalen_US
dc.sourceUniversity of Piraeus. International Strategic Management Association, 2000-
dc.subjectTrade balance adjustment through exchange rate policiesen_US
dc.subjectEuropean monetary integrationen_US
dc.subjectUnit root testsen_US
dc.subjectCo-integration Analysisen_US
dc.subjectInnovation accountingen_US
dc.titlePrices and Exchange Rate of Hellenic Drachma (GRD), during 1981-1995: Are they Dependent from those of EU-partners?en_US
dc.typeArticleen_US
dc.relation.deptDepartment of Accounting and Financeen_US
dc.relation.facultySchool of Administrative, Economics and Social Sciencesen_US
dc.relation.volume3en_US
dc.relation.issue1-2en_US
dc.identifier.spage105en_US
dc.identifier.epage121en_US
dc.linkhttps://www.um.edu.mt/library/oar/bitstream/123456789/30643/1/Prices_and_exchange_rate_of_Hellenic_drachma_GRD_during_1981-1995_are_they_dependent_2000.pdfen_US
dc.collaborationUniversity of West Attica (UNIWA)en_US
dc.subject.fieldSocial Sciencesen_US
dc.journalsOpen Accessen_US
dc.publicationPeer Revieweden_US
dc.countryGreeceen_US
item.fulltextNo Fulltext-
item.grantfulltextnone-
item.openairetypeArticle-
item.languageiso639-1en-
item.cerifentitytypePublications-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
crisitem.author.deptDepartment of Accounting and Finance-
crisitem.author.facultySchool of Administrative, Economics and Social Sciences-
crisitem.author.orcid0000-0002-9710-0870-
crisitem.author.parentorgSchool of Administrative, Economics and Social Sciences-
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