The unemployment rate in Greece rose from a mere 2.2% in the 1970s to 6.4% in the 1980s and 10% approximately in the mid-1990s. Currently, it gravitates around that level. In this paper we present the stylized facts of unemployment in Greece and examine the causes of its abrupt increse in the...

Measured against PPP, the drachma effective exchange rate was overvalued by a significant amount, implying that the devaluation on March 1998 was an adjustment of the exchange rate towards the long-run price differentials. The paper also analyses the links between fiscal policy, interest rates...

Two approaches to the theory of OCA are distinguished in this paper. The first attempts to define the OCA from the point of view of a single country, and the second examines the optimality of a currency area of a given size anf membership. The present paper after reviewing the drawbacks of the...

The unemployment rate in Greece rose from a mere 2.2% in the 1970s to 6.4% in the 1980s and 10% approximately in the mid-1990s. Currently, it gravitates around that level. In this paper we present the stylized facts of unemployment in Greece and examine the causes of its abrupt increse in the...

The Envelope Theorem is showm to involve comparisons between the performance of the optimal policy and that of alternative policies, which satisfy the constraints of the problem and may also have other features. The theorem is activated whenever parameter values are such that the extreme value...

This paper investigates if, and how, aternative bargaining agentas may sustain (or, emerge) endogenously, under conditions of centralized wage bargaining, in industries with market power. The wage & employment bargains agenta ("Efficient Bargains") is shown to be a strategic device to induce...

The purpose of this paper is to invetigate the demand and its composition between home-produced and imported for alcoholic beverages in Cyprus.

The objective of the study is to inquest the nature and direction of causality among public sector size, economic growth and macroeconomic state of the economy.

Ten countries with economies in transition and two market economies are negotiating full membership with the EU. The purpose of this paper is to consider the economic dimension of the forthcoming enlargement of the EU, especially on the characteristics of the economies in transition and on the...

This paper describes various characteristics of illegal migrants in Greece, i.e. country of original marital status, age, sex, education and occupation, as they are reported in their application forms for residence and work permit. It also examines the factors that may affect the migrants choice...