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In this paper we present stylized facts of the Greek economy that characterize the causes and the consequences of its ongoing crisis. Then, we offer an explanation that can account for those causes and consequences. This explanation is based on the view of Greek society as consisting of two...
Persistent link: https://www.econbiz.de/10011083245
productivity and output, (b) a low correlation between wages and productivity and (c) a relatively strong correlation between real … unified explanation of several stylized facts of business cycle behaviour, including (a) a low correlation between labour …
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