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Distributional implications of the crisis in Greece in 2009-2012

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  • Leventi, Chrysa
  • Matsaganis, Manos

Abstract

The severe economic crisis affecting Greece since 2009 is having an unprecedented impact in terms of job and income losses, and is widely perceived to have a comparably significant effect in terms of greater inequality and increased poverty. We provide an assessment of whether (and to what extent) the latter is the case. More specifically, we use the European tax-benefit microsimulation model EUROMOD in order to quantify the impact of the austerity (i.e. fiscal consolidation policies) and the recession (i.e. negative developments in the wider economy) on the distribution of incomes in 2009-2012, and estimate how the burden of the crisis has been shared across income groups. We conclude by discussing the policy implications of our research.

Suggested Citation

  • Leventi, Chrysa & Matsaganis, Manos, 2013. "Distributional implications of the crisis in Greece in 2009-2012," EUROMOD Working Papers EM14/13, EUROMOD at the Institute for Social and Economic Research.
  • Handle: RePEc:ese:emodwp:em14-13
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    File URL: https://www.iser.essex.ac.uk/research/publications/working-papers/euromod/em14-13.pdf
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    References listed on IDEAS

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    1. Olivier Bargain & Tim Callan, 2010. "Analysing the effects of tax-benefit reforms on income distribution: a decomposition approach," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, pages 1-21.
    2. André Decoster & Jason Loughrey & Cathal O'Donoghue & Dirk Verwerft, 2010. "How regressive are indirect taxes? A microsimulation analysis for five European countries," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 29(2), pages 326-350.
    3. Liégeois, Philippe & Islam, Nizamul, 2013. "Dealing with negative marginal utilities in the discrete choice modeling of labor supply," Economics Letters, Elsevier, pages 16-18.
    4. Mike Brewer & James Browne & Andrew Hood & Robert Joyce & Luke Sibieta, 2013. "The Short‐ and Medium‐Term Impacts of the Recession on the UK Income Distribution," Fiscal Studies, Institute for Fiscal Studies, pages 179-201.
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    Cited by:

    1. Vassiliki Koutsogeorgopoulou & Manos Matsaganis & Chrysa Leventi & Jan-David Schneider, 2014. "Fairly Sharing the Social Impact of the Crisis in Greece," OECD Economics Department Working Papers 1106, OECD Publishing.

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