MEASURING EXCHANGE MARKET PRESSURE AND THE DEGREE OF EXCHANGE MARKET INTERVENTION FOR THE GREEK DRACHMA

Authors: APERGIS, NICHOLAS¹; ELEFTHERIOU, SOPHIA²

Source: International Economic Journal, Volume 16, Number 3, Number 3/Autumn 2002 , pp. 135-145(11)

Publisher: Routledge, part of the Taylor & Francis Group

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Abstract:

This paper presents exchange market pressure and intervention indices that can be applied as tools for policy analysis in the case of Greece. A small open economy model is presented that helps to assess Greek exchange rate policy, within a framework characterized for a strong preference to eliminate excessive exchange rate volatility to meet the Maastricht criteria of low inflation and a fixed domestic currency. [F31]

Document Type: Research article

DOI: http://dx.doi.org/10.1080/10168730200080025

Affiliations: 1: University of Ioannina 2: Thessaloniki Stock Exchange Center

Publication date: 2002-09-01