Category Archives: Public finance

Plus ça change, plus c’est la même chose

“The more things change, the more they stay the same”. Professor Georges Siotis, former member of the Task Force for Greece, writes on the poor track record on reforms and presents three examples of “win-win” reforms that never came to … Continue reading

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Lower VAT can tackle tax evasion

Nikolaos Artavanis (Isenberg School of Management – UMass Amherst) argues, in a timely article given the current proposed increases in VAT, that VAT increases do not go hand in hand with tax revenue increases in the presence of tax evasion … Continue reading

Posted in Macroeconomics, Public finance | 1 Comment

The solution for the Greek sovereign debt

Nicholas Economides, Stern School of Business, NYU We are at the most critical phase of the negotiation, and it is imperative that Greece signs an agreement with the Europeans avoiding bankruptcy and the disaster of the New Drachma. The government … Continue reading

Posted in Macroeconomics, Public finance, Uncategorized | 1 Comment

Europe will benefit from Greece being given a fresh start

On January 22, 2015, the Financial Times have published a letter signed by eighteen economists, including Nobel Laureates Joseph Stiglitz and Chris Pissarides (GEfR founding member). The letter argues that Europe will benefit from Greece being given a fresh start. … Continue reading

Posted in Banking and finance, Economic development, Europe, General, Macroeconomics, Political economy, Press, Public finance, Uncategorized | Leave a comment

A proposal for curtailment of the shadow economy

The shadow economy is inversely related with the per capita electronic payments in the European countries. The Greek economy is characterized by a surging shadow economy and one of the lower numbers of per capita electronic payments in Europe. Manthos … Continue reading

Posted in Banking and finance, Political economy, Public finance | 1 Comment

How To Solve The Greek Public Debt Problem

How To Solve The Greek Public Debt Problem In an article in ESTIA, Prof. Nicholas Economides discusses how issuing new bonds and using the moneys exclusively for investment will solve the Greek sovereign debt problem. Additionally he proposes reducing interest … Continue reading

Posted in Banking and finance, Economic research, Europe, Macroeconomics, Public finance | Tagged , , , , | 1 Comment

The Fiscal Crisis is a Crisis in Trust

The sources of the fiscal crisis have been different, but the prescribed measures amount to two: achieve budget surpluses to start reducing the size of the debt, and undertake the necessary reforms to create or boost the productive base, so … Continue reading

Posted in Economic development, Education, General, Macroeconomics, Public finance, Public sector productivity, Uncategorized | Leave a comment

The Greek Crisis: Origins and Implications

This paper argues that the deep causes of the Greek and Eurozone crisis are the large external imbalances (trade deficits) of the countries of the European periphery. Their fiscal imbalances exacerbated but did not cause the crisis and therefore fiscal … Continue reading

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Greece should issue new bonds before the European elections

In an article published in Kathimerini, on February 9, Prof. Nicholas Economides proposes that Greece issue new 5-year bonds immediately, that is, before the European elections. This would be the first time Greece would issue bonds since its crisis in … Continue reading

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A debate between German and Greek economists on growth and austerity in Greece

On 10 July 2013, an interesting debate on the Greek crisis took place between Daniel Gros, the director of the Brussels-based research institute CEPS, Gikas Hardouvelis, professor of Finance at the University of Piraeus and Chief economist at Eurobank, and … Continue reading

Posted in Banking and finance, Economic development, Europe, Labour market, Product market, Public finance, Public sector productivity | 1 Comment