Συλλογές
Τίτλος The driving forces of the greek great depression
Δημιουργός Papageorgiou, Dimitris, Philippopoulos, Apostolis
Economides, George
Συντελεστής Athens University of Economics and Business, Department of Economics
Τύπος Text
Φυσική περιγραφή 55 pages
Γλώσσα el
Αναγνωριστικό http://www.pyxida.aueb.gr/index.php?op=view_object&object_id=5298
Περίληψη This paper provides a quantitative study of the main determinants of the Greek greatdepression since 2010. We use a medium-scale DSGE model calibrated to the Greek economybetween 2000 and 2009 (the euphoria years that followed the adoption of the euro). Then, departingfrom 2010, our simulations show that the fiscal policy mix adopted, jointly with the deterioration ininstitutional quality and, specifically, in the degree of protection of property rights, can explainessentially all the total loss in GDP between 2010 and 2015 (around 26%). In particular, the fiscalpolicy mix accounts for 14% of the total output loss, while the deterioration in property rightsaccounts for another 8%. It thus naturally follows that a less distorting fiscal policy mix and astronger protection of property rights are necessary conditions for economic recovery in this country.
Λέξη κλειδί growth
public debt
institutions
Διαθέσιμο από 2017-03-13 16:25:59
Ημερομηνία έκδοσης 03/13/2017
Ημερομηνία κατάθεσης 2017-03-13 16:25:59
Δικαιώματα χρήσης Free access
Άδεια χρήσης https://creativecommons.org/licenses/by/4.0/