This paper explores the extent to which markups of selected Greek manufacturing industries are affected by the high level and variability of the inflation rate using annual industry data from the period 1958-1990. In addition, it is examined whether or not the state of demand, current or future,...

A multiplier/accelerator macroeconomic model incorporating the permanent income hypothesis in private consumption, financial constraints in private investment, and a government that attempts fiscal expansions with tight money, is examined. Stability conditions show that government actions could...

This paper uses a dynamic monopoly union model to analyse the joint determination of wages, employment and investment in the absence of binding contracts. The union maximizes a utilitarian utility function while the firm faces a neoclassical investment problem with adjustment costs....

This paper uses a dynamic monopoly union model to analyze the joint determination of wages, employment and investment in the absence of binding contracts. The union maximizes a utilitarian utility function while the firm faces a neoclassical investment problem with adjustment costs....

This paper continues the study of endogenous fiscal policy, using a framework where both capital taxes and government spending are determined optimally. The paper examines the interaction between private investors and fiscal authorities. It specifies the circumstances under which public debt...

This paper takes an imperfect competition model of the economy in order to investigate for retuns to scale in Greek manufacturing and examines, through a small-scale macroeconomic model, the implication of estimates. For this purpose a price, wage and demand for output equations are estimated,...