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This paper explores the dynamics of the Greek public debt and its relationship with the ‘twin deficits’, that is, the public and current account deficits. By modeling the evolution of these variables and using actual data of the Greek economy, this paper shows that the public debt is...
Persistent link: https://www.econbiz.de/10015221929
This paper explores the dynamics of the Greek public debt. It supports that, first, the public debt is unsustainable and, second, the reduction in government expenditures and the cut in unit labour costs in the private sector seems to be the only available, al-though too little too late...
Persistent link: https://www.econbiz.de/10015225471
Using data from the Symmetric Input-Output Table of the Greek economy for the year 2010, this paper estimates the corresponding Sraffian autonomous demand-transfer payments curve. The findings reveal certain technical-effective demand-social features of the Greek economy and provide a context...
Persistent link: https://www.econbiz.de/10015260280
The economic crisis that inflicted Greece is international in character and its cause is in the decreasing profitability of capital which from a certain point onwards leads to the stagnation of profits, discourages new investment, reduces production and increases unemployment. If these are...
Persistent link: https://www.econbiz.de/10015246626