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The ECB's policy, the recovery fund and the importance of trust : the case of Greece

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2021

This paper, using a microfounded macroeconomic model that embeds the key features of the Greek economy, studies the … ECB, like the PEPP, for the Greek economy? Do they help the real economy and, if yes, by how much? What would have …

Persistent link: https://www.econbiz.de/10012650611

Can central banks do the unpleasant job that governments should do?

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2023

economy and fiscal policy remains active, there is no room left for further quasi-fiscal actions by the ECB; there will be …

Persistent link: https://www.econbiz.de/10014331713

Monetary union, even higher integration, or back to national currencies?

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2016

This paper quantifies the welfare differences among a monetary union, flexible exchange rates (economic disintegration) and a monetary plus fiscal transfer union (higher economic integration). The vehicle of analysis is a medium-scale New Keynesian DSGE model consisting of two heterogeneous...

Persistent link: https://www.econbiz.de/10011430977

The effects of climate change on a small open economy

Oikonomidēs, Geōrgios; Xepapadeas, Anastasios - 2019

We investigate the impact of climate change on the macroeconomic performance of a small open economy. The setup is a … new Keynesian dynamic stochastic general equilibrium model of a small open economy without monetary policy independence in … which a climate module that interacts with the economy has been incorporated. The model is solved numerically using common …

Persistent link: https://www.econbiz.de/10011992335

Incentives to work and performance in the public sector

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2015

This paper develops a dynamic general equilibrium model with three distinct social groups, capitalists, private workers and public employees. After solving for the status quo equilibrium, which can mimic the advantages of employment in the public sector in most EU countries, the paper looks for...

Persistent link: https://www.econbiz.de/10010477149

On the composition of public spending and taxes

Oikonomidēs, Geōrgios; Park, Hyun; Philippopulos, … - 2015

This paper studies the implications of changes in the fiscal (spending-tax) policy mix when all categories of spending and taxes are according to their functional breakdown. In so doing, we build a general equilibrium OLG model which naturally incorporates the main functional categories of...

Persistent link: https://www.econbiz.de/10011342332

Smaller public sectors in the Euro area : aggregate and distributional implications

Oikonomidēs, Geōrgios; Papageorgiou, Dimitris; … - 2012

In this paper, we study the aggregate and distributional implications of a smaller public sector in the euro area. By a smaller public sector, we mean a reduction in public debt and/or cuts in public spending, when such changes in fiscal policy are accommodated by adjustment in various taxes....

Persistent link: https://www.econbiz.de/10009631662