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The Effects of Macroeconomic Aggregates on Employment Levels in Greece: A Causal Analysis


  • Michael Chletsos
  • Christos Kollias


This paper, using the technique of cointegration and error correction investigates the presence of a causal relationship between employment levels and key macroeconomic variables in Greece during the period 1960-92. The results reported here suggest the presence of such a relationship only in the case of secondary and non-agricultural gross output as well as military spending. Copyright Fondazione Giacomo Brodolini and Blackwell Publishers Ltd 1997.

Suggested Citation

  • Michael Chletsos & Christos Kollias, 1997. "The Effects of Macroeconomic Aggregates on Employment Levels in Greece: A Causal Analysis," LABOUR, CEIS, vol. 11(3), pages 437-448, November.
  • Handle: RePEc:bla:labour:v:11:y:1997:i:3:p:437-448

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    References listed on IDEAS

    1. Massimiliano Bratti & Nicola Matteucci, 2005. "Is there skilled-biased technological change in Italian manufacturing? Evidence from firm-level data," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 48(1-2), pages 153-182.
    2. Alessia Matano & Paolo Naticchioni, 2010. "Trade and Wage Inequality: Local versus Global Comparative Advantages," The World Economy, Wiley Blackwell, vol. 33(12), pages 1757-1787, December.
    3. repec:adr:anecst:y:1996:i:41-42:p:16 is not listed on IDEAS
    4. David H. Autor & Lawrence F. Katz & Melissa S. Kearney, 2005. "Rising Wage Inequality: The Role of Composition and Prices," NBER Working Papers 11628, National Bureau of Economic Research, Inc.
    5. Melly, Blaise, 2005. "Decomposition of differences in distribution using quantile regression," Labour Economics, Elsevier, vol. 12(4), pages 577-590, August.
    6. Pamela Giustinelli, 2004. "Quantile Regression Evidence on Italian Education Returns," Rivista di Politica Economica, SIPI Spa, vol. 94(6), pages 49-100, November-.
    7. Martins, Pedro S. & Pereira, Pedro T., 2004. "Does education reduce wage inequality? Quantile regression evidence from 16 countries," Labour Economics, Elsevier, vol. 11(3), pages 355-371, June.
    8. Barth, Erling & Lucifora, Claudio, 2006. "Wage Dispersion, Markets and Institutions: The Effects of the Boom in Education on the Wage Structure," IZA Discussion Papers 2181, Institute for the Study of Labor (IZA).
    9. Lilla Marco, 2005. "Disuguaglianze salariali in Italia: nuove evidenze dai microdati SHIW," Politica economica, Società editrice il Mulino, issue 1, pages 71-102.
    10. Omar Arias & Walter Sosa-Escudero & Kevin F. Hallock, 2001. "Individual heterogeneity in the returns to schooling: instrumental variables quantile regression using twins data," Empirical Economics, Springer, vol. 26(1), pages 7-40.
    11. Christian Dustmann & Johannes Ludsteck & Uta Schönberg, 2009. "Revisiting the German Wage Structure," The Quarterly Journal of Economics, Oxford University Press, vol. 124(2), pages 843-881.
    12. Maarten Goos & Alan Manning, 2007. "Lousy and Lovely Jobs: The Rising Polarization of Work in Britain," The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 118-133, February.
    13. Paolo Naticchioni & Andrea Ricci & Emiliano Rustichelli, 2010. "Far away from a skill-biased change: falling educational wage premia in Italy," Applied Economics, Taylor & Francis Journals, vol. 42(26), pages 3383-3400.
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    15. Andrea Brandolini & Piero Cipollone & Paolo Sestito, 2001. "Earnings Dispersion, Low Pay and Household Poverty in Italy, 1977-1998," Temi di discussione (Economic working papers) 427, Bank of Italy, Economic Research and International Relations Area.
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    17. Gary Burtless, 1995. "International Trade and the Rise in Earnings Inequality," Journal of Economic Literature, American Economic Association, vol. 33(2), pages 800-816, June.
    18. Brunello, Giorgio & Miniaci, Raffaele, 1999. "The economic returns to schooling for Italian men. An evaluation based on instrumental variables1," Labour Economics, Elsevier, vol. 6(4), pages 509-519, November.
    19. Peracchi, Franco, 2006. "Educational Wage Premia and the Distribution of Earnings: An International Perspective," Handbook of the Economics of Education, Elsevier.
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    Cited by:

    1. Jurgen Brauer, 2002. "Survey and Review of the Defense Economics Literature on Greece and Turkey: What Have We Learned?," Defence and Peace Economics, Taylor & Francis Journals, vol. 13(2), pages 85-107.
    2. Afşin Şahin & Aysit Tansel & M. Hakan Berument, 2015. "Output–Employment Relationship Across Sectors: A Long- Versus Short-Run Perspective," Bulletin of Economic Research, Wiley Blackwell, vol. 67(3), pages 265-288, July.

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