Gechert, S. & Rannenberg, A. (2015) “The costs of Greece’s fiscal consolidation“, Macroeconomic Policy Institute, March. This policy brief reexamines the effects of the Greek austerity experiment on its economy via a counterfactual analysis. We combine the fiscal multipliers from the meta regression analysis in Gechert and Rannenberg (2014) to the fiscal consolidation measures that have been implemented in Greece between 2010 and 2014. We estimate that austerity explains …Read More
Research & Development Expenditure and Personnel in Greece in 2013-Main Indicators
“Research & Development Expenditure and Personnel in Greece in 2013-Main Indicators“, National Documentation Centre, March 2015. This summary report presents the final figures for the main Research and Development (R&D) Expenditure and Personnel indicators in Greece in 2013. Data presented in this report have already been transmitted to Eurostat (Commission Regulation 995/2012). Relevant posts: Primeri, Ε. (2015) “Opening of national research programs: different national answers to international pressures?“, Europe …Read More
PHASE 3bis Report on Implementing the OECD Anti-Bribery Convention in Greece
Organisation for Economic Co-operation and Development (OECD) PHASE 3bis Report on Implementing the OECD Anti-Bribery Convention in Greece, March 2015. EXECUTIVE SUMMARY The Phase 3bis Report on Greece by the OECD Working Group on Bribery evaluates and makes recommendations to Greece on its implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and related instruments. The Report results from the Working Group’s exceptional …Read More
Greece: Solidarity and Adjustment in Times of Crisis
Giannitsis, Τ. & Zografakis, S. (2015) “Greece: Solidarity and Adjustment in Times of Crisis“, Hans-Böckler-Stiftung, IMK Studies, Nr. 38., Düsseldorf: March. This report attempts to examine the impact of the crisis and crisis policies on incomes, inequality and poverty in Greece. Based on extensive income and tax data, it investigates changes in incomes, direct, indirect and property taxation and their incidence between 2008 and 2012-13, their impact on pre- …Read More
Greece: update on public finances – the State primary budget balance has returned almost in line with the target, but mostly due to expenditure cuts. Revenues continue to underperform
Merler, S. (2015) “Greece: update on public finances – the State primary budget balance has returned almost in line with the target, but mostly due to expenditure cuts. Revenues continue to underperform“, Bruegel Institute, 16 March. At the end of last week the Greek Finance Ministry published the preliminary budget execution bulletin for February. The State primary budget balance has returned almost in line with the target, but mostly …Read More
The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts
Ardagna, S. & Caselli, F. (2015) “The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts“, Centre for Economic Performance Special Paper, Special Paper No. 25, January 2014. We review the events that led to the May 2010 and July 2011 bailout agreements. We interpret the bailouts as outcomes of political-economy equilibria. We argue that these equilibria were likely not on the Pareto frontier, and sketch …Read More
Library » Greece » Economy » Politics » Scientific Articles
The Greek Crisis: Time to Rethink the Concept of “Money
Auerback, M. (2015) “The Greek Crisis: Time to Rethink the Concept of “Money“, Institute for New Economic Thinking, 07 March. As the economies of Europe stagger, and Greece in particular staggers under the weight of a depression exceeding in scale the devastation of the 1930s, it appears difficult to see a way out of this agonizing cycle of repeated financial meltdowns. In fact, there are creative ways to solve …Read More
Library » Greece » Economy » Politics » Opinion Articles
Sovereign default and debt restructuring: Was Argentina’s ‘haircut’ excessive?
Edwards, S. (2015) “Sovereign default and debt restructuring: Was Argentina’s ‘haircut’ excessive?“, VoxEU Organisation, 04 March. There were 24 sovereign defaults and debt restructurings between 1997 and 2013. Using data on 180 debt restructurings – for both sovereign bonds and sovereign syndicated bank loans – this column argues that the roughly 75% ‘haircut’ Argentina imposed on its creditors in 2005 was an outlier. Greece’s ‘haircut’ of roughly 64% in …Read More
Library » Greece » Economy » Politics » Scientific Articles
‘Foreign’ Money and ‘Austerity’ Haven’t Caused Greek Stagnation
Jerry, J. (2015) “‘Foreign’ Money and ‘Austerity’ Haven’t Caused Greek Stagnation“, Real Clear Markets News Site, 26 February. The on-going “Greek Financial Crisis” is chock full of lessons about the nature of the entity that serves the functions of money in an economy. Historically, people have chosen to use as money everything from notched wooden sticks to metal coins to pieces of paper printed by governments. When alternatives have …Read More
Library » Greece » Economy » Opinion Articles
Greece: Austerity for the Bankers
Michael Hudson says Greece’s Finance Minister Varoufakis is proposing austerity on the banking class rather than on the working class to balance the budget. SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. The four-month extension secured by the Greek finance minister, Yanis Varoufakis, on Friday came with the condition that Greece provide a list of measures to quell …Read More
Library » Greece » Economy » Politics » Opinion Articles