Challenging the Raison dâ€™etre of Internal Devaluation in the Context of the Greek Economy
AbstractThis paper provides a critical assessment of the austerity measures that are being implemented in the crisis-stricken countries of the Eurozone, and in particular, the implications of internal devaluation for the Greek economy. The theoretical underpinnings and phases of internal devaluation are explored. A detailed statistical analysis of key macroeconomic indicators pertaining to the Greek economy is carried out. Alternatives to internal devaluation are proposed in this paper, laying the foundations for a reassessment of the policy of austerity and the implications for recovery and sustainability of economic activity in Greece and other countries of the Eurozone.
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Bibliographic InfoArticle provided by Savez ekonomista Vojvodine, Novi Sad, Serbia in its journal Panoeconomicus.
Volume (Year): 60 (2013)
Issue (Month): 6 (December)
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Web page: http://www.panoeconomicus.rs/
Internal devaluation; Greek economic crisis; Austerity; Eurozone;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
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