. Under realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A …

convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include … productivity increases in Greece. …

We scrutinize the role of capital flows in competitiveness in a set of seven euroarea member countries (Estonia, Greece … focus is on Greece. The paper extends the seminal Balassa-Samuelson model to include international capital markets, placing … 2013 show evidence of the Balassa-Samuelson effect if Greece is excluded from the panel. For Greece, this in turn provides …