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The Distributional Effects of Fiscal Consolidation

27 June, 2013
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Ball, L.,  Furceri, D., Leigh, D., & Loungani, Pr., (2013), “The Distributional Effects of Fiscal Consolidation”, IMF Working Paper, N.,13/151. This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal consolidation has typically had significant distributional effects by raising inequality, decreasing wage income shares and increasing long-term unemployment. The evidence also suggests …Read More

Library » EU » Greece » Economy » Scientific Articles

Lessons of a Greek Tragedy

14 June, 2013
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Eichengreen, Barry, (2013), “Lessons of a Greek Tragedy”, www.project-syndicate.org, 16 June. A visit to Greece leaves many vivid impressions. There are, of course, the country’s rich history, abundance of archeological sites, azure skies, and crystalline seas. But there is also the intense pressure under which Greek society is now functioning – and the extraordinary courage with which ordinary citizens are coping with economic disaster.

Library » Greece » Economy » Opinion Articles

IMF, Country Report: Greece

6 June, 2013
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IMF, (2013), Country Report: Greece, N.13/154 June. In the midst of a sharp and socially painful recession, Greece is making important progress in overcoming deep-seated problems. Progress on fiscal adjustment has been exceptional by any standard, with the cyclically-adjusted primary balance having improved cumulatively by about 15 percent of GDP during 2010–12. Labor market reforms are helping to realign nominal wages and productivity; this internal devaluation has reduced the competitiveness …Read More

Library » Greece » Economy » Reports

Controlled negative reciprocity between the state and civil society: the Greek case

1 June, 2013
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Etienne, Julien, (2013), “Controlled negative reciprocity between the state and civil society: the Greek case”, Hellenic Observatory of the European Institute at the LSE, June. Rarely do discussions on state-society relationship meet with discussions on street-level encounters between members of civil society and state agents. This article intends to bridge this gap by discussing state-society relationships in Greece as they can be understood from a pattern of minor illegalities from …Read More

Library » Greece » Society » Policy Papers

Why Do Governments Default, And Why Don’t They Default More Often?

31 May, 2013
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Buiter, Willem and Rahbari, Ebrahim, (2013), “Why Do Governments Default, And Why Don’t They Default More Often?”, Centre for Economic Policy Research, Μay. This paper considers the economic and political drivers of sovereign default, focusing on countries rich enough to render sovereign default a ‘won’t pay’ rather than a ‘can’t pay’ phenomenon. Unlike many private contracts, sovereign debt contracts rely almost exclusively on self-enforcement rather than on third-party enforcement. Among …Read More

Library » Greece » Economy » Policy Papers

Government Constraints and Economic Voting in Greece

31 May, 2013
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Kosmidis, Spyros, (2013), “Government Constraints and Economic Voting in Greece”, Hellenic Observatory of the European Institute at the LSE, May. Incumbent parties in Southern Europe experienced losses in their electoral support that came along with a series of economic reforms imposed by the EU and the IMF. However, recent theories of accountability would predict lower levels of economic voting given the limited room left for national governments to manoeuvre the …Read More

Library » Greece » Politics » Policy Papers

Greece, fascism and beyond

29 May, 2013
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Lekakis, Eleftheria, (2013), “Greece, fascism and beyond”, Open Democracy – Free Thinking for the World, 29 May. Fascism has spread over the mainland of the Greek geography, the islands of bellowing winds and the mentality of a small, scared, disappointed and disillusioned part of the population. It has brought an anti-democratic beast into the heart of a previously, arguably, more democratic nation. The worst thing for me are the statements …Read More

Library » Greece » Politics » Policy Papers

Greece’s Horizons: Reflecting on the Country’s Assets and Capabilities

29 May, 2013
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Sklias P., Tzifakis N. (eds.) (2013), Greece’s Horizons: Reflecting on the Country’s Assets and Capabilities, Springer. The Greek financial crisis has imperilled the stability of the entire euro-zone, generating much anxiety all over the world. Policy-makers, analysts and media on a day-to-day basis debate the course of the Greek economy, prescribing ways to move forward. The book acknowledges the predominantly domestic causes of the crisis and the need of far-reaching …Read More

Library » Greece » Economy » Politics » Books

Time to move north?

27 May, 2013
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Barslund, Mikkel,  Busse, Matthias,  (2013), “Time to move north?”, CEPS Commentaries, 27 May. A staggering one out of every four young people is presently unemployed in Spain. And comparable numbers in Greece, Portugal and Italy are hardly more encouraging. Germany, on the other hand, enjoys a historically low youth unemployment rate of 8% and is experiencing skill shortages in some occupations. Against this background, this Commentary calls upon the European …Read More

Library » EU » Greece » Society » Policy Papers