IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/35413.html
   My bibliography  Save this paper

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/35413/1/MPRA_paper_35413.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Theodore Mariolis, 2008. "Pure Joint Production, Income Distribution, Employment And The Exchange Rate," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 656-665, November.
    2. Morciano, Michele, 1984. "Price dynamics in an input-output model : An alternative approach," Economics Letters, Elsevier, vol. 14(4), pages 363-368.
    3. 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.
    4. Stergios Skaperdas, 2011. "Seven Myths about the Greek Debt Crisis," Working Papers 111202, University of California-Irvine, Department of Economics.
    5. 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.
    6. J. S. Metcalfe & Ian Steedman, 1979. "Growth and Distribution in an Open Economy," Palgrave Macmillan Books, in: Ian Steedman (ed.), Fundamental Issues in Trade Theory, chapter 16, pages 201-227, Palgrave Macmillan.
    7. 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 -.
    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.
    9. Ian Steedman, 2000. "Income Distribution, Foreign Trade and the Value-Added Vector," Economic Systems Research, Taylor & Francis Journals, vol. 12(2), pages 221-230.
    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)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vlassis Missos & Nikolaos Rodousakis & George Soklis, 2022. "A Race to the Bottom: Measuring Income Loss and Poverty in Greece," Economics Policy Note Archive 22-2, Levy Economics Institute.
    2. Theodore Mariolis & Nikolaos Rodousakis & Apostolis Katsinos, 2019. "Wage versus currency devaluation, price pass-through and income distribution: a comparative input–output analysis of the Greek and Italian economies," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 8(1), pages 1-23, December.
    3. Mariolis, Theodore, 2010. "Κριτική Έκθεση του "Νόμου της Πτωτικής Τάσης του Ποσοστού Κέρδους" του K. Marx: Κατανομή Εισοδήματος, Επισώρευση Κεφαλαίου και Τεχνολογική Μεταβολή στη Μακρά Περίοδο [Critical Exposition ," MPRA Paper 22461, University Library of Munich, Germany.
    4. Nikolaos Apostolopoulos & Panagiotis Liargovas & Nikolaos Rodousakis & George Soklis, 2022. "COVID-19 in US Economy: Structural Analysis and Policy Proposals," Sustainability, MDPI, vol. 14(13), pages 1-15, June.
    5. Mariolis, Theodore & Ntemiroglou, Nikolaos & Soklis, George, 2018. "Η Σραφφαϊανή Καμπύλη Αυτόνομης Ζήτησης-Μεταβιβαστικών Πληρωμών Της Ελληνικής Οικονομίας Για Το Έτος 2010 [The Sraffian Autonomous Demand-Transfer Payments Curve for the Greek Economy]," MPRA Paper 86520, University Library of Munich, Germany.
    6. Theodore Mariolis & Nikolaos Ntemiroglou & George Soklis, 2018. "The static demand multipliers in a joint production framework: comparative findings for the Greek, Spanish and Eurozone economies," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 7(1), pages 1-20, December.
    7. Mariolis, Theodore & Soklis, George, 2014. "The Sraffian Multiplier for the Greek Economy: Evidence from the Supply and Use Table for the Year 2010," MPRA Paper 60253, University Library of Munich, Germany.
    8. Mariolis, Theodore & Papoulis, Κostas, 2010. "Δυναμική Του Χρέους, ‘Δίδυμα Ελλείμματα’ Και Διεθνής Ανταγωνιστικότητα Της Ελληνικής Οικονομίας [Debt dynamics, ‘twin deficits’ and international competitiveness of the Greek economy]," MPRA Paper 23173, University Library of Munich, Germany.
    9. Nikolaos Ntemiroglou, 2016. "The Sraffian Multiplier and the Key-Commodities for the Greek Economy: Evidence from the Input-Output Tables for the Period 2000-2010," Bulletin of Political Economy, Bulletin of Political Economy, vol. 10(1), pages 1-24, June.
    10. Stergios Skaperdas, 2015. "Myths and Self-Deceptions about the Greek Debt Crisis," Revue d'économie politique, Dalloz, vol. 125(6), pages 755-785.
    11. Ramon Pacheco Pardo, 2012. "Leadership, decision-making and governance in the EU and East Asia: crisis and post-crisis," Asia Europe Journal, Springer, vol. 9(2), pages 77-90, March.
    12. Parrinello, Sergio, 2022. "On Some “New” Interpretations of Ricardo’s Principle of Comparative Advantages," Centro Sraffa Working Papers CSWP60, Centro di Ricerche e Documentazione "Piero Sraffa".
    13. Keita, Kady & Rabaud, Isabelle & Turcu, Camelia, 2023. "Fiscal outcomes, current account imbalances, and institutions in Europe: Exploring nonlinearities," International Economics, Elsevier, vol. 175(C), pages 121-134.
    14. Sergio Cesaratto, 2013. "Harmonic and Conflict Views in International Economic Relations: a Sraffian View," Palgrave Macmillan Books, in: Enrico Sergio Levrero & Antonella Palumbo & Antonella Stirati (ed.), Sraffa and the Reconstruction of Economic Theory: Volume Two, chapter 10, pages 242-264, Palgrave Macmillan.
    15. Mariollis, Theodore, 2012. "Goodwin’s Growth Cycle Model with the Bhaduri-Marglin Accumulation Function," MPRA Paper 40738, University Library of Munich, Germany.
    16. Harilaos Mertzanis, 2000. "Capacity Utilization, Foreign Portfolio Investment and International Debts and Deficits," Review of Political Economy, Taylor & Francis Journals, vol. 12(2), pages 207-218.
    17. Matias Vernengo, 2003. "The Gold Standard and Center-Periphery Interactions," Working Paper Series, Department of Economics, University of Utah 2003_10, University of Utah, Department of Economics.
    18. Suranjana Nabar-Bhaduri, 2011. "No Easy Balancing Act: Reducing the Balance of Payments Constraint; Improving Export Competitiveness and Productivity; and Absorbing Surplus Labor The Indian Experience," Working Paper Series, Department of Economics, University of Utah 2011_12, University of Utah, Department of Economics.
    19. Guilhoto, Joaquim José Martins, 2011. "Análise de Insumo-Produto: Teoria e Fundamentos [Input-Output Analysis: Theory and Foundations]," MPRA Paper 32566, University Library of Munich, Germany.
    20. Ariel Dvoskin & Germán Feldman, 2015. "Estructura productiva desequilibrada: un análisis de las contribuciones de Marcelo Diamand a la teoría económica," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, February.

    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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:35413. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.