IDEAS home Printed from https://ideas.repec.org/p/wpa/wuwpif/0506002.html
   My bibliography  Save this paper

Hellenic Export Prices and European Monetary Integration, 1970- 1995

Author

Listed:
  • Theodoros Stamatopoulos

    (T.E.I. of Crete, University of Piraeus, Greece, & C.E.F.I./Mediterranean University of Aix-Marseille II, France.)

Abstract

We aim to explain the variability of the Hellenic Export Index Unit Value, during the period 1970-1995. The Hellenic index of unit labour cost, an effective index of unit value of European competitors’ exports and the effective exchange rate of the Greek Drachma (GRD) are used as explanatory variables, suggested by the literature and much more by the consequences of the Hellenic accession into the EEC. We found evidence with regards to the sample’s split in the accession’s year 1981 and the equilibrium relationship between Hellenic export prices and exchange rate of GRD during the second sub-period. In addition, in spite of the small size of the Hellenic economy we detected the Greek exporters’ discreet pricing policy, for the first sub-period, this was possible due to the diversification of their destination markets and for the second, the sliding rate policy of the Bank of Greece. The latter policy combined with the European competitors’ pricing policy re-established their margins, with at the most a year lag, whenever the Hellenic labour cost was increased.

Suggested Citation

  • Theodoros Stamatopoulos, 2005. "Hellenic Export Prices and European Monetary Integration, 1970- 1995," International Finance 0506002, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpif:0506002
    Note: Type of Document - pdf; pages: 11. Paper presented at the AEA conference for 'Exchange Rates', at Marseille, France 2003 March (http://www.aea.fed-eco.org/uk/archives/2003Marseilles/index.asp).
    as

    Download full text from publisher

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/if/papers/0506/0506002.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Decomposition Approach; Export Prices Equations; Discreet Pricing Policy; Inconsistent triad; European Monetary Integration; Integration and Co-integration Analysis;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpif:0506002. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: EconWPA (email available below). General contact details of provider: https://econwpa.ub.uni-muenchen.de .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.