Is the Exchange Rate an Effective Anti-inflationary Policy Instrument?

Pavlos Karadeloglou, Christos Papazoglou and George Zombanakis
Additional contact information
Pavlos Karadeloglou: Bank of Creece, Economic Research Department, Athens, Greece

Ekonomia, 1998, vol. 2, issue 1, 47-72

Abstract: This paper aims at evaluating the performance of the so called ?hard currency policy? as an anti-inflationary weapon. The analysis takes place in the context of the Greek economy on the basis of a five-equation model including the behaviour of wages, import and export prices, the consumer price index as well as the GDP. The Simulation results indicate that the hard drachma policy is not adequate by itself as an inflation fighting device, unless it is accompanied by other anti-inflationary policies such as fiscal or incomes policy.

JEL-codes: F31 F41 F47 (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (5)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ekn:ekonom:v:2:y:1998:i:1:p:47-72

Access Statistics for this article

More articles in Ekonomia from Cyprus Economic Society and University of Cyprus Contact information at EDIRC.
Bibliographic data for series maintained by Managing Editor ( this e-mail address is bad, please contact ).