Chelley-Steeley, Patricia L.; Tsorakidis, Nikolaos - In: Applied financial economics 19 (2009) 10/12, pp. 905-916
In January 2001 Greece joined the eurozone. The aim of this article is to examine whether an intention to join the … eurozone had any impact on exchange rate volatility. We apply the Iterated Cumulative Sum of Squares (ICSS) algorithm of Inclan … drachma increased exchange rate volatility but ERM membership and a commitment to joining the eurozone led to lower volatility …