THE CREDIBILITY OF POLICY ANNOUNCEMENTS - GREEK EVIDENCE

Authors
APERGIS N PAPANASTASIOU J VELENTZAS K
Citation
N. Apergis et al., THE CREDIBILITY OF POLICY ANNOUNCEMENTS - GREEK EVIDENCE, Applied economics, 29(6), 1997, pp. 699-705
Citations number
34
Categorie Soggetti
Economics
Journal title
Applied economics → ACNP
ISSN journal
00036846
Volume
29
Issue
6
Year of publication
1997
Pages
699 - 705
Database
ISI
SICI code
0003-6846(1997)29:6<699:TCOPA->2.0.ZU;2-G
Abstract
This paper by using error correction (EC) methodology, along with Chow stability tests, examines whether three cases of policy announcements in Greece, over the 1975-1995 period, have been considered credible o r not by the public. Focusing on the Phillips curve trade-off, the emp irical findings reveal that two out of three policy announcements are characterized as credible by private agents.