The credibility of policy announcements: Greek evidence

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 or not by the public. Focusing on the Phillips curve trade-off, the empirical findings reveal that two out of three policy announcements are characterized as credible by private agents.

Financial market liberalization and stock market efficiency: Evidence from the Athens Stock Exchange

“…Some researchers (e.g., Apergis, Papanastasiou, & Velentzas, 1997) suggest that the private sector did not view LIB is the liberalization dummy; R 2 is the adjusted R 2 . a Local-currency returns.…”