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Testing the credibility of stabilization programmes. Evidence from Greece

✍ Scribed by Costas Karfakis; Moïse Sidiropoulos; Jamel Trabelsi

Publisher
John Wiley and Sons
Year
2000
Tongue
English
Weight
197 KB
Volume
5
Category
Article
ISSN
1076-9307

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✦ Synopsis

This paper tests the size and the diffusion effect of the credibility factors of the stabilization programme implemented in Greece in 1985, by means of a two-step procedure which focuses on the analysis of the time-series properties of the parallel market premium and the inflation process. An interesting aspect of the analysis is the evidence that the stabilization plan gained credibility rapidly, and its impact on the inflation dynamics was significant.

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