Exchange Rate Movements and the Trade Balance Deficit: A Multivariate Cointegration Analysis

John M. Paleologos and Spyros E. Georgantelis
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John M. Paleologos: Department of Economics, University of Piraeus, Postal: 80 Karaoli & Dimitriou St. 185 34 Piraeus Greece, http://www.unipi.gr/
Spyros E. Georgantelis: Department of Economics, University of Piraeus, Postal: 80 Karaoli & Dimitriou St. 185 34 Piraeus Greece , ,, http://www.unipi.gr/

Economia Internazionale / International Economics, 1997, vol. 50, issue 3, 459-470

Abstract: Using the Johansen cointegration analysis on quarterly data over the 1979-1994 period, it is shown that there is a long-run relationship between the Greek trade balance and the real effective exchange rate of the Greek currency with the currencies of OECD countries, taking into account the effects of changes in domestic economic activity and in the economic activity of Greece’s trading partners (OECD countries). On the contrary, we found that there are no short-term linkages (dynamic structures) among the variables included in our model.

JEL-codes: F31 (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0333

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