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Return to devalued drachma, cost-push inflation and international competitiveness

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  • Mariolis, Theodore
  • Katsinos, Apostolis

Abstract

This paper presents empirical estimates of the effects of a return to devalued drachma on the cost-inflation rate in the Greek economy. The results show moderate effects and the potential for substantial improvements in the balance of goods and services.

Suggested Citation

  • Mariolis, Theodore & Katsinos, Apostolis, 2011. "Return to devalued drachma, cost-push inflation and international competitiveness," MPRA Paper 35413, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:35413
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    File URL: https://mpra.ub.uni-muenchen.de/35413/1/MPRA_paper_35413.pdf
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    References listed on IDEAS

    as
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    2. Mariolis, Th., 2000. "The Division of Labour in European Monetary Union: Absolute Versus Comparative Advantage," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 79-90, January -.
    3. Theodore Mariolis, 2008. "Pure Joint Production, Income Distribution, Employment And The Exchange Rate," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 656-665, November.
    4. Morciano, Michele, 1984. "Price dynamics in an input-output model : An alternative approach," Economics Letters, Elsevier, vol. 14(4), pages 363-368.
    5. Carlo Panico, 2010. "The causes of the debt crisis in Europe and the role of regional integration," Working Papers wp234, Political Economy Research Institute, University of Massachusetts at Amherst.
    6. 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.
    7. Ian Steedman, 2000. "Income Distribution, Foreign Trade and the Value-Added Vector," Economic Systems Research, Taylor & Francis Journals, vol. 12(2), pages 221-230.
    8. Stergios Skaperdas, 2011. "Seven Myths about the Greek Debt Crisis," Working Papers 111202, University of California-Irvine, Department of Economics.
    9. Metcalfe, J S & Steedman, Ian, 1981. "Some Long- Run Theory of Employment, Income Distribution and the Exchange Rate," The Manchester School of Economic & Social Studies, University of Manchester, vol. 49(1), pages 1-20, March.
    10. Brewer, Anthony, 1985. "Trade with fixed real wages and mobile capital," Journal of International Economics, Elsevier, vol. 18(1-2), pages 177-186, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Cost-Push Inflation; Drachma Devaluation; Dynamic Input-Output Price Models; Greek Economy; International Competitiveness;
    All these keywords.

    JEL classification:

    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models

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