دانلود مقاله ISI انگلیسی شماره 45211
عنوان فارسی مقاله

نرخ واقعی ارز یورو و رشد اقتصادی یونان

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
45211 2015 10 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
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عنوان انگلیسی
The real exchange rate of euro and Greek economic growth
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : The Journal of Economic Asymmetries, Volume 12, Issue 2, November 2015, Pages 100–109

کلمات کلیدی
یورو - نرخ ارز واقعی - رشد اقتصادی - یونان
پیش نمایش مقاله
پیش نمایش مقاله نرخ واقعی ارز یورو و رشد اقتصادی یونان

چکیده انگلیسی

This study argues that an overvalued euro has caused the largest ever drop in Greece's GDP growth since the World War II. Sharp declines of GDP growth would have been avoided had ECB's monetary and exchange rate policy been different and more conducive to countries that suffered the most from the world economic crisis of 2007. Greece was the last to be hit, but was unfortunately ‘battered’ really hard. In this study, it is found that (a) the real effective exchange rate of euro was 20% overvalued and (b) this has had a negative impact on Greek economic growth. A 10% undervaluation would have increased the rate of growth of per capita GDP by almost an additional 1.25% per annum. This would have made the economic recession less severe. During the crisis years, it seems that the ECB's monetary and exchange rate policy favored particular countries in the eurozone, and Germany emerges as the big winner.

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