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Measuring Price Elasticity of Aggregate Demand in Greece: 1961-1995

Author

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  • Nicholas Apergis

    (University of Ioannina)

  • Sophia Eleftheriou

    (Thessaloniki Stock Exchange Center)

Abstract

The goal of this article is to measure the price elasticity of aggregate demand in Greece over the period 1961 to 1995 to assess various economic policy steps undertaken by Greek fiscal policy makers to satisfy the budget-cut criterion set by the Maastricht Treaty.

Suggested Citation

  • Nicholas Apergis & Sophia Eleftheriou, 2000. "Measuring Price Elasticity of Aggregate Demand in Greece: 1961-1995," Public Finance Review, , vol. 28(5), pages 452-467, September.
    • Handle: RePEc:sae:pubfin:v:28:y:2000:i:5:p:452-467
    DOI: 10.1177/109114210002800504
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    References listed on IDEAS

    as
    1. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    2. Apergis, Nicholas, 1997. "Inflation uncertainty, money demand, and monetary deregulation: Evidence from a univariate ARCH model and cointegration tests," Journal of Policy Modeling, Elsevier, vol. 19(3), pages 279-293, June.
    3. repec:syd:wpaper:160 is not listed on IDEAS
    4. Karras, Georgios, 1994. "Sources of Macroeconomic Fluctuations in a Small Open Economy: The Case of Greece," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 47(1), pages 34-50.
    5. repec:fth:sydnec:160 is not listed on IDEAS
    6. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    7. Karfakis, Costas I., 1991. "MONETARY POLICY AND THE VELOCITY OF MONEY IN GREECE: A COlNTEGRATION APPROACH," Working Papers 160, University of Sydney, School of Economics.
    8. Kyer, Ben L. & Maggs, Gary E., 1992. "On the Keynes and Pigou effects in aggregate demand theory," Journal of Macroeconomics, Elsevier, vol. 14(2), pages 371-375.
    9. Georgios Karras & Houston Stokes, 1999. "On the asymmetric effects of money-supply shocks: international evidence from a panel of OECD countries," Applied Economics, Taylor & Francis Journals, vol. 31(2), pages 227-235.
    10. Havrilesky, Thomas M, 1975. "A Comment on "The Use of the Aggregate Demand Curve."," Journal of Economic Literature, American Economic Association, vol. 13(2), pages 472-473, June.
    11. Purvis, Douglas D, 1975. "A Comment on "The Use of the Aggregate Demand Curve."," Journal of Economic Literature, American Economic Association, vol. 13(2), pages 473-473, June.
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