Inequality, poverty and social welfare in Greece: distributional effects of austerity
This paper presents the recent trends and the characteristics of inequality, poverty and living conditions in Greece, emphasising the distributional effects of the austerity measures adopted during the current economic crisis. Moreover, the decomposition analysis of the study examines the structure of inequality and the contribution of various income sources in overall inequality, while the main characteristics of the Greek social solidarity system and the poor distributional impact of social benefits are also discussed. To this end, household income from the Greek Household Budget and the EU Statistics of Income and Living Conditions surveys are used. The available data indicate that income inequality and relative poverty has increased, yet not dramatically, during the current crisis, although the composition of the poor population changed considerably. However, the sharp decline in disposable income and the dramatic increase in unemployment has led to a significant deterioration in economic prosperity and absolute poverty, i.e. when the poverty line in real terms remains stable in the pro-crisis levels.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Shorrocks, A F, 1982. "Inequality Decomposition by Factor Components," Econometrica, Econometric Society, vol. 50(1), pages 193-211, January.
- Theodore M. Mitrakos, 2004. "Education and economic inequalities," Economic Bulletin, Bank of Greece, issue 23, pages 27-46, July.
- Pyatt, Graham & Chen, Chau-nan & Fei, John, 1980. "The Distribution of Income by Factor Components," The Quarterly Journal of Economics, MIT Press, vol. 95(3), pages 451-73, November.
- Paul, Satya, 2004. "Income sources effects on inequality," Journal of Development Economics, Elsevier, vol. 73(1), pages 435-451, February.
- Tsakloglou, P. & Panopoulou, G., 1997.
"Analysing Poverty Under Alternative Concepts of Resources and Equivalence Scales,"
Athens University of Economics and Business
97-08, Athens University of Economics and Business, Department of International and European Economic Studies.
- Tsakloglou, P. & Panopoulou, G., 1997. "Analysing Poverty Under Alternative Concepts of Resources and Equivalence Scales," DEOS Working Papers 97-08, Athens University of Economics and Business.
- Mitrakos Theodore, 2008. "Child Poverty: Recent Developments and Determinants," Economic Bulletin, Bank of Greece, issue 30, pages 57-85, May.
- Tsakloglou, Panos, 1990. "Aspects of Poverty in Greece," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 36(4), pages 381-402, December.
- Tsakloglou, Panos, 1993. "Aspects of inequality in Greece : Measurement, decomposition and intertemporal change: 1974, 1982," Journal of Development Economics, Elsevier, vol. 40(1), pages 53-74, February.
When requesting a correction, please mention this item's handle: RePEc:bog:wpaper:174. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christina Tsochatzi)
If references are entirely missing, you can add them using this form.