Macroeconomic models that omit the shadow economy systematically mis-forecast and mis-measure the effect of fiscal –in particular tax– policy on economic activity and tax revenue. We add an informal sector to the Bank of Greece DSGE model and use the actual package of fiscal consolidation...

This study assesses the potential macroeconomic impact of the stimulus and the structural reforms supported by the Recovery and Resilience Facility (RRF) on the Greek economy. The set-up is a Dynamic Stochastic General Equilibrium (DSGE) model that is augmented to account for the main features...

Using a micro-aggregated dataset that contains gross wages as well as employer and employee characteristics, we investigate whether observed wage differentials in Greece reflect mostly the underlying variation in employer characteristics, i.e. the structure of the Greek production, or worker and...

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...

This study presents the implementation progress of the post-2010 reform in the road haulage sector of Greece that removed earlier regulatory barriers to competition. The legislative interventions since 2010 are reviewed in light of the international best practices and are assessed in terms of...

In this paper we study job flows in Greece using detailed data on private sector dependent employment for 2015-2017, a period characterised by brisk employment growth. We find that during the years reviewed by our study there is a significant amount of job creation and job destruction going on...