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The credibility of policy announcements: Greek evidence

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  • Nikos Apergis
  • John Papanastasiou
  • Kostas Velentzas

Abstract

This paper by using error correction (EC) methodology, along with Chow stability tests, examines whether three cases of policy announcements in Greece, over the 1975-1995 period, have been considered credible or not by the public. Focusing on the Phillips curve trade-off, the empirical findings reveal that two out of three policy announcements are characterized as credible by private agents.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/000368497326633
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 29 (1997)
Issue (Month): 6 ()
Pages: 699-705

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Handle: RePEc:taf:applec:v:29:y:1997:i:6:p:699-705

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Web page: http://www.tandfonline.com/RAEC20

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Cited by:
  1. Laopodis, Nikiforos T., 2004. "Financial market liberalization and stock market efficiency: Evidence from the Athens Stock Exchange," Global Finance Journal, Elsevier, vol. 15(2), pages 103-123, August.
  2. E. Dijkgraaf & R. Gradus, 2003. "Cost Savings of Contracting Out Refuse Collection," Empirica, Springer, vol. 30(2), pages 149-161, June.
  3. Apergis, Nicholas, 1998. "Inflation and Uncertainty: Does the EMS Participation Play Any Role?," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 13, pages 586-605.

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