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Δυναμική Του Δημοσίου Χρέους, Οικονομική Πολιτική Και Κοινωνική Συνοχή Στην Ελλάδα: Μία Σημείωση
[Public debt dynamics, economic policy and social cohesion in Greece: a note]

Author

Listed:
  • Mariolis, Theodore
  • Papoulis, Κostas

Abstract

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 ‘remedy’.

Suggested Citation

  • Mariolis, Theodore & Papoulis, Κostas, 2010. "Δυναμική Του Δημοσίου Χρέους, Οικονομική Πολιτική Και Κοινωνική Συνοχή Στην Ελλάδα: Μία Σημείωση [Public debt dynamics, economic policy and social cohesion in Greece: a note]," MPRA Paper 28551, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:28551
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    References listed on IDEAS

    as
    1. Yilmaz Akyüz, 2007. "Debt Sustainability in Emerging Markets: A Critical Appraisal," Working Papers 61, United Nations, Department of Economics and Social Affairs.
    2. Michel Aglietta & Merih Uctum, 1996. "Europe and the Maastricht Challenge," The World Economy, Wiley Blackwell, vol. 19(6), pages 683-694, November.
    3. Harck, Soren, 2000. "On the Sustainability Area as a Simplifying Didactic Device," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(4), pages 505-509, July.
    4. Matteo Formenti, 2008. "Indicators and Tests of Sustainability: The Italian Case," Rivista di Politica Economica, SIPI Spa, vol. 98(6), pages 123-160, November-.
    5. You, Jong-Il & Dutt, Amitava Krishna, 1996. "Government Debt, Income Distribution and Growth," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(3), pages 335-351, May.
    6. Bhaduri, Amit & Marglin, Stephen, 1990. "Unemployment and the Real Wage: The Economic Basis for Contesting Political Ideologies," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 14(4), pages 375-393, December.
    7. Mariolis, Theodore & Soklis, George & Groza, Heleni, 2010. "An Input-Output Approach to the Estimation of the Maximum Attainable Economic Dependency Ratio in four European Economies," MPRA Paper 22661, University Library of Munich, Germany.
    8. Mariolis, Theodore, 2006. "Distribution and Growth in a Multi-Sector Open Economy with Excess Capacity," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 59(1), pages 51-61.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Debt dynamics; economic policy; EMU; international competitiveness; social cohesion;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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