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The road to Ithaca: the Gold Standard, the Euro and the origins of the Greek sovereign debt crisis

Dellas, Harris; Tavlas, Goerge - Bank of Greece - 2012

sovereign bailouts -- in the euro-area that would have reduced members’ external imbalances. This situation contrasts sharply …

Persistent link: https://www.econbiz.de/10010855045

What About a World Currency? Proposal for a Common Currency among Rich Democracies. One World Money, Then and Now

Cooper, Richard N.; Bordo, Michael; James, Harold - Bank of Greece - 2006

Persistent link: https://www.econbiz.de/10005321933

Greek Monetary Economics in Retrospect: The Adventures of the Drachma

Sophia - Bank of Greece - 2003

Greece during the period from the early 1830s until the introduction of the euro. For Greece and for the drachma, the lessons …

Persistent link: https://www.econbiz.de/10005321936

The Drachma, Foreign Creditors and the International Monetary System: Tales of a Currency during the 19th and the Early 20th Century

Lazaretou, Sophia - Bank of Greece - 2004

Fixed exchange rate regimes can be regarded as a “rule with escape clauses”, allowing the monetary authorities to temporarily suspend convertibility and enact a discretionary policy only under well-understood contingencies, such as wartime emergencies and financial panics. Seen from this...

Persistent link: https://www.econbiz.de/10005321937

In the neighbourhood: the trade effects of the euro in a spatial framework

Kelejian, Harry; Tavlas, George S.; Petroulas, Pavlos - Bank of Greece - 2011

in a satisfactory way. We specify a trade model which relates to the effects that the introduction of the euro had on … exports for the euro countries. Our model contains country pair fixed effects and error terms which are spatially and time … substantially affected when one accounts for statistical complications. Specifically, euro effects on exports are significantly …

Persistent link: https://www.econbiz.de/10009364236

Deja vu? The Greek crisis experience, the 2010s versus the 1930s. Lessons from history

Chouliarakis, George; Lazaretou, Sophia - Bank of Greece - 2014

The past Greek crisis experience is more or less terra incognita. In all historical empirical studies Greece is systematically neglected or included only sporadically in their cross-country samples. In the national literature too there is little on this topic. In this paper we focus on the Greek...

Persistent link: https://www.econbiz.de/10010755515

An Optimum-Currency-Area Odyssey

Dellas, Harris; Tavlas, George S. - Bank of Greece - 2009

The theory of optimum-currency-areas was conceived and developed in three highly influential papers, written by Mundell (1961), McKinnon (1963) and Kenen (1969). Those authors identified characteristics that potential members of a monetary union should ideally possess in order to make it...

Persistent link: https://www.econbiz.de/10008509355

Exchange-Rate Arrangements and Financial Integration in East Asia: On a Collision Course?

Genberg, Hans - Bank of Greece - 2006

Financial integration in Ease Asia is actively being pursued and will in due course lead to substantial mobility of capital between economies in the region. Plans for monetary cooperation as a prelude to monetary integration and ultimately monetary unification are also proposed. These plans...

Persistent link: https://www.econbiz.de/10005129451

Optimum Currency Areas Structural Changes and the Endogeneity of the OCA Criteria: Evidence from Six New EU Member States

Sideris, Dimitrios - Bank of Greece - 2009

readiness for euro adoption. The second aim is to examine whether the introduction of the euro in 1999 and the decision of the … countries to seek to join the euro area created any forces fostering their convergence, evidence which would be in line with the … theory on the endogeneity of the OCA criteria. Our findings indicate that the introduction of the euro did promote …

Persistent link: https://www.econbiz.de/10005002687

A Worldwide System of Reference Rates

Williamson, John - Bank of Greece - 2006

Persistent link: https://www.econbiz.de/10005162296