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The Greek financial crisis : growing imbalances and sovereign spreads
Gibson, Heather D.; Hall, Stephen G.; Tavlas, G. S. - 2022
We discuss the origins of the Greek financial crisis as manifested in the growing fiscal and current-account deficits since euro-area entry in 2001. We then provide an investigation of spreads on Greek relative to German long-term government debt. Using monthly data over the period 2000 to 2010,...
Persistent link: https://www.econbiz.de/10013404052
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Fiscal Adjustment and Debt Sustainability : Greece 2010-2016 and Beyond
Karavitis, Nicholas E. - 2022
This paper reviews the fiscal developments that led Greece from a successful convergence process and the adoption of …
Persistent link: https://www.econbiz.de/10014078158
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Fiscal Policy with an Informal Sector
Dellas, Harris; Malliaropulos, Dimitris; Papageorgiou, … - 2022
the actual package of fiscal consolidation implemented in Greece over the period 2010–2015 to evaluate the role of the … particular tax– policy on economic activity and tax revenue. We add an informal sector to the Bank of Greece DSGE model and use … underground economy seems to have been a key factor in Greece’s failure to achieve orderly debt consolidation while avoiding …
Persistent link: https://www.econbiz.de/10014078167
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The Macroeconomic Impact of Structural Reforms in Product and Labour Markets : Trade-Offs and Complementarities
Papageorgiou, Dimitris; Vourvachaki, Evagelia - 2022
This paper studies the impact of product and labour market structural reforms and the effects of their joint implementation with alternative debt consolidation strategies. The set-up is a DSGE model calibrated for the Greek economy. The results show that structural reforms produce important...
Persistent link: https://www.econbiz.de/10014078952
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Disrupted Lending Relationship and Borrower's Strategic Default : Evidence from the Tourism Industry During the Greek Economic Crisis
Malliaropulos, Dimitris; Avramidis, Panagiotis; … - 2022
Using a sample of bank loans to firms operating in the tourism industry for the period 2010-2015, and regional …
Persistent link: https://www.econbiz.de/10014078069
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The Greek Great Depression : A General Equilibrium Study of its Drivers
Economides, George; Papageorgiou, Dimitris; … - 2022
all the total loss in GDP between 2010 and 2015 (around 26%). In particular, the fiscal policy mix accounts for 14% of the …
Persistent link: https://www.econbiz.de/10014078168
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Déjà Vu? The Greek Crisis Experience, the 2010s Versus the 1930s. Lessons from History
Lazaretou, Sophia; Chouliarakis, George - 2022
The past Greek crisis experience is more or less terra incognita. In all historical empirical studies Greece is … which to assess the policy choices and constraints that Greece faces today, with the ultimate aim to draw policy lessons …
Persistent link: https://www.econbiz.de/10014079032
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Inequality, Poverty and Social Welfare in Greece : Distributional Effects of Austerity
Mitrakos, Theodore - 2022
This paper presents the recent trends and the characteristics of inequality, poverty and living conditions in Greece …
Persistent link: https://www.econbiz.de/10014079034
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The Greek Great Depression from a Neoclassical Perspective
Papageorgiou, Dimitris; Tsiaras, Stylianos - 2022
This paper follows the great depression methodology of Kehoe and Prescott (2002, 2007) to study the importance of total factor productivity (TFP) in the Greek economic crisis over the period 2008-2017. Using growth accounting and the neo- classical growth model, the paper shows that exogenous...
Persistent link: https://www.econbiz.de/10014081914
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Total Factor Productivity (TFP) and Fiscal Consolidation : How Harmful is Austerity?
Bardakas, Ioanna; Bournakis, Ioannis; Kaplanoglou, Georgia - 2022
Departing from the expansionary austerity literature, this study assesses empirically whether fiscal consolidation propagates changes in the supply side of the economy that can potentially influence total factor productivity. Using a panel dataset of 26 OECD countries over the period 1980-2016...
Persistent link: https://www.econbiz.de/10014078151