Belke, Ansgar, Gros, Daniel, (2017), “Greece and the Troika – Lessons from international best practice cases of successful price (and wage) adjustment”, CEPS, 23 May
In this paper we present three international best practice (or those considered as benchmarks) cases of successful price and wage adjustment. In this context we critically evaluate the reforms undertaken within the Greek Adjustment Programme (see, for instance, Alcidi et al., 2014). Among the benchmark practice cases there will be Australia with its flexible exchange rate (Wood, 2013), Latvia with its exchange rate peg (Alcidi and Gros, 2013, Gros et al. 2014, Sippola, 2011), and the East German “ Laender” after reunification and entering into a currency union with Western Germany (Wolf, 2011).
- Hick, Rod, (2017), “The Troika gave Ireland more autonomy over social security cuts than is commonly recognised”, LSE EUROPP, 22 March
- Walter, Stefanie, (2016), “Why austerity is easier to implement in some countries than others – and why this was not the case for Greece”, LSE EUROPP Blog, 17 October