Fiscal Imbalances and Exchange Rate Management: Greece on the Track of EMU
AbstractMeasured against PPP, the drachma effective exchange rate was overvalued by a significant amount, implying that the devaluation on March 1998 was an adjustment of the exchange rate towards the long-run price differentials. The paper also analyses the links between fiscal policy, interest rates and the real exchange rate in Greece and attempts to empirically measure the forces that push the exchange rate toward real appreciation.
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Bibliographic InfoPaper provided by Athens University of Economics and Business, Department of International and European Economic Studies in its series Athens University of Economics and Business with number 95.
Length: 19 pages
Date of creation: 1998
Date of revision:
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Postal: Athens University of Economics and Business, Department of International and European Economic Studies. Parission 76, Athens Greece 10434
Phone: +30 1 8203250
Fax: +301 8228419
Web page: http://www.aueb.gr/
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FINANCIAL POLICY ; FISCAL POLICY;
Other versions of this item:
- Demopoulos, G.D. & Kapopoulos, P.T. & Fratzeskos, E.K., 1998. "Fiscal Imbalances and Exchange Rate Management: Greece on the Track of EMU," DEOS Working Papers 95, Athens University of Economics and Business.
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
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