Apergis, N. and Cooray, A., (2013), “New Evidence on the Remedies of the Greek Sovereign Debt Problem”, Hellenic Observatory Papers on Greece and Southeast Europe, GreeSE Paper No.79, November.
The goal of the present paper is to investigate not only the dynamics of the Greek public debt, but also what are the appropriate measures required for achieving fiscal consolidation. The empirical estimation is carried out using a macroeconomic dataset spanning the period 1980- 2008 and both the 3SLS methodological approach on a theoretical model and the structural VAR methodology to perform forecast tests and to calibrate the future paths of the public debt variable up to 2020. The results suggest that only an aggressive growth policy could permit the country to achieve debt sustainability. The results are expected to have important implications to policy makers for designing effective macroeconomic policy in terms of achieving sustainable levels of public debt.
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Σχετικές Αναρτήσεις
- Katsikas, D., (2013), “Should Greece remain in the Eurozone and, if so, why?”, Bundeszentrale für Politische Bildung, 06 November.
- Bastian, J., (2013), “Debt relief or debt restructuring for Greece?”, MacroPolis, The Agora Blog, 08 December.
- Schrader, Κ., Benček, D. and Laaser, C.F., (2013), “Greece: Back on Track?”, Kiel Institute of the World Economy, Kiel Policy Brief 68, 14 November.
- Chrysolaras, N., (2013), “Greece’s successful death”, Crisis Observatory, Policy Paper No. 16, 8 November.
- Papantoniou, Y., (2013), “The Re-Division of Europe”, Project Syndicate, 06 December.