This article aims to assess the cost of failure of Greece's ‘First Economic Adjustment Programme’, in terms of potential Gross Domestic Product (GDP) growth. In particular, real GDP trends are estimated through filtering techniques and compared with those had the first programme been...

This article explores the role of information and communication technologies (ICT) and of its individual components as factors of economic development. An augmented production function is employed to estimate the total ICT effect on labor productivity growth as well as the impact exerted by its...

In a continuous time model, a representative household has to allocate its investment and consumption in an optimal manner under conditions of uncertainty. In the present study it is hypothesized that there are two types of assets: a risk-free and a risky asset. The risk-free asset is assumed to...

In a continuous time model, a representative household has to allocate its investment and consumption in an optimal manner under conditions of uncertainty. In the present study it is hypothesized that there are two types of assets: a risk-free and a risky asset. The risk-free asset is assumed to...

In this paper we examine the effects of the ratio of internal to external public debt on a country's economic growth. These effects are examined through a competitive, decentralized model of endogenous economic growth, which relies on public investments. Our findings show that as the...