The real uncovered interest parity: The case of Canada and the USA

The aim of this paper is to re-assess the real uncovered interest parity (RUIP) in the light of including domestic demand shocks as possible determinants of the real exchange rate. We use annual data for two close trading partners, namely Canada and the USA. Using cointegration analysis we find evidence in favour of RUIP. In addition, empirical support is provided to show that discretionary fiscal policy actions have a spillover effect to the real exchange rate via real interest rates.     

Intercultural education and practice in Greece: Needs for bilingual intercultural programmes

During the last ten years, intercultural education has gradually emerged in Greece as a new type of education. This paper focuses on several aspects of the implementation of intercultural education in the Greek context. Specifically, it highlights and addresses the following issues: (1) the multicultural situation in Greece and the discourse on intercultural education; (2) Law 2413/96, entitled Greek Education Abroad, Intercultural Education and Other Provisions, as well as the official regulations relating to the establishment and functioning of reception and tutorial classes; (3) the difficulties and obstacles present in the current educational system, as well as teachers' and pupils' needs; (4) the language policies associated with the Greek educational system, as compared with the language policies of England and Australia. Finally, it reflects on matters of social justice and equality of opportunities for the new student population of Greece.     

Terrorism and the effectiveness of security spending in Greece: Policy implications of some empirical findings

Greece has over the years faced serious security challenges from domestic as well as transnational terrorist activity. This paper examines empirically the effectiveness of counter-terrorism policy and particularly it focuses on current and investment expenditure on domestic security and public order. Using annual budget data for the 1974–2004 period, it investigates whether current and investment spending by the Ministry of Public Order has been an effective policy measure to counter terrorism. The results seem to suggest that such investment has at best a weak negative impact on internal terrorist actions. The main policy implication of this finding is that investing in counter-terrorist infrastructure and equipment can potentially prove to be an effective policy measure in the fight against terrorism. This, however, may be conditional upon a number of other factors including other anti-terrorist measures such as legislation or how efficiently such expenditure is used.