The receipts from shipping services have been a vital resource for the Greek economy covering a perennial trade deficit. The downward adjustment in freight rates following the Lehman brothers collapse was swift severely impacting shipping inflows into the Greek economy. Almost two years later,...

The influx of shipping receipts from the world's leading fleet has been critical for the development of the Greek economy. Following the fateful September of 2008, the range and speed of the shift in direction of the freight rates, combined with the general economic and credit climate, have had...

The influx of shipping receipts from the world's leading fleet has been critical for the development of the modern Greek economy. Following the fateful September of 2008, the range and speed of the shift in direction of the freight rates, combined with the general economic and credit climate,...

The distributive trades, consisting of wholesaling and retailing, are a key sector of the economy. As the main interface between producers and consumers, the sector is particularly important from a monetary policy point of view: this is where most consumer goods prices are ultimately set....

The aim of this study is to assess whether fuel prices in Greece respond asymmetrically to changes in the global oil prices. To do so, we depart from the current practice in the literature that focuses on fuel prices. Rather, we consider the mark-up of both the refineries and retailers. Even...

Using a multisectoral model and the latest data from the OECD Input-Output Tables (IOTs2021 ed.), this article estimates labour and capital productivities of the 38 OECD member countries. As measures of the productivity of labour, we consider the inverse of the vertically integrated labour...

The pricing mechanism in the gasoline market has often been the subject of public debate in Greece during the crisis years. Inefficient pricing could imply oligopolistic practices and losses to consumers’ welfare. A way to test for inefficient pricing, is by testing for asymmetries in the...

The present paper investigates whether Greek gasoline prices respond symmetrically to changes in international oil prices. The study uses all available observations and applies the TAR (Threshold Auto-Regressive) methodology, which is considered to be the most reliable econometric technique...