During the last thirty years the Greek economy gradually opened to the world economy via trade liberalization. In 1962, Greece joined the European Union (EU) as an associate member, and in 1981 became the tenth member of the EU. The purpose of the study is to examine how economic integration...

The study searches for an optimal Dollar–Euro exchange rate policy for the US and the Euro Area (EA) countries. To achieve this, it explores the causal links between the US Dollar–Euro exchange rate and three key macroeconomic variables. The empirical investigation is carried out in an Error...

Causal relations between the growth rates of exports, imports, and the GDP of Canada and the United States are studied using the vector error correction (VEC) model. Utilizing time-series annual data (1948–1996), Granger causality tests are performed within the framework of the VEC model....

This paper examines the costs associated with the level and variability of inflation in the context of a general equilibrium (GE) welfare measure which accommodates the optimal adjustments of all the endogenous variables in the model in response to the transfers received by the households. We...