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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

Déjà Vu? The Greek Crisis Experience, the 2010s Versus the 1930s. Lessons from History

Lazaretu, Sophia M.; 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

Nobody's Child : The Bank of Greece in the Interwar Years

Kakridis, Andreas - 2022

Neither history nor economic historians have been kind to Greece’s central bank in the interwar years. Born at the … behest of the League of Nations to help the country secure a new international loan, the Bank of Greece was treated with a … revisit the Bank of Greece’s birth and operation during the Great Depression. In doing so, it hopes to put Greece on the map …

Persistent link: https://www.econbiz.de/10014081918

Labour Market Adjustments and Reforms in Greece During the Crisis : Microeconomic Evidence from the Third Wave of the Wage Dynamics Survey

Kosma, Theodora; Papapetrou, Evangelia; Pavlou, Georgia; … - 2022

The recession that followed the global financial crisis and the sovereign debt crisis resulted in large falls in output and rises in unemployment across Europe. In this context, many countries implemented significant reforms of their labour market. In order to analyse the impact of labour market...

Persistent link: https://www.econbiz.de/10014078424

The road to Ithaca : the Gold Standard, the Euro and the origins of the Greek sovereign debt crisis

Dellas, Harris; Tavlas, G. S. - 2022

The origins of the Greek-sovereign debt crisis were the country’s large fiscal and external imbalances. The key factor that abetted those imbalances was the absence of a short-tomedium term adjustment mechanism -- due to perceptions of sovereign bailouts -- in the euro-area that would have...

Persistent link: https://www.econbiz.de/10014079607

Money Supply and Greek Historical Monetary Statistics : Definition, Construction, Sources and Data

Lazaretou, Sophia - 2022

in Greece since the inception of the National Bank of Greece in 1842 until the eve of WWII. Specifically, we describe in …

Persistent link: https://www.econbiz.de/10014080335

Real exchange rates over a century : the case of the Drachma / Sterling rate, 1833-1939

Sideris, Dimitrios - 2022

Recent studies on real exchange rates advocate the use of long samples in order to reveal the low frequency properties of the processes. The present paper contributes to this strand of the literature by exploiting recently released time series for the drachma/sterling rate for the period...

Persistent link: https://www.econbiz.de/10014080543

Multiple Potential Payers and Sovereign Bond Prices

Oosterlinck, Kim; Ureche-Rangau, Loredana - 2022

Sovereign bonds are usually priced under the assumption that only the sovereign issuer may be responsible of their repayment. In some cases however, bondholders may legitimately expect to be repaid by more than one agent. For example, when a country breaks-up, successor states may agree to...

Persistent link: https://www.econbiz.de/10014080442

Government Bankruptcy of Balkan Nations and Their Consequences for Money and Inflation Before 1914 : A Comparative Analysis

Bernholz, Peter - 2022

A difference is made between open and hidden or veiled government bankruptcies. The latter are happening if budget deficits are covered by substantial money creation leading to inflation. In this case non-indexed government debt loses its value and is inflated away. This path is not open, if the...

Persistent link: https://www.econbiz.de/10014080443

Labour Market Adjustment in Europe During the Crisis : Microeconomic Evidence from the Wage Dynamics Network Survey

Kosma, Theodora; Izquierdo, Mario; Jimeno, Juan F.; … - 2022

Against the backdrop of continuing adjustment in EU labour markets in response to the Great Recession and the sovereign debt crisis, the European System of Central Banks (ESCB) conducted the third wave of the Wage Dynamics Network (WDN) survey in 2014-15 as a follow-up to the two previous WDN...

Persistent link: https://www.econbiz.de/10014078170