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- W673002 abstract "This paper examines the extent to which the policy instruments of money supply and budget deficit were endoigenous in Greece over the period 1975-1993. It is assumed that the policymaker's objectives are the growth rate of GNP and the balance of payments. The so-called reaction-function approach to the interdependence of economy and policy is utilised for this purpose. The empirical analysis is made in terms of a maximum likelihood methodology that reconciles co integration with optimal control techniques. It suggests that only the money-supply instrument has been endogenous in an effort to promote growth and prevent balance-of-trade deterioration." @default.
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- W673002 date "1998-01-01" @default.
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- W673002 title "An Empirical Analysis of a Reaction-Function Approach to Policymaking in Greece during 1975-1993" @default.
- W673002 hasPublicationYear "1998" @default.
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