Fiscal Adjustment in Greece: In Search for Sustainable Public Finances
20 Pages Posted: 25 Jan 2012
Date Written: December 1, 2011
This paper analyses Greek fiscal sustainability from a retrospective and a prospective view. Implications of Greek fiscal (un)sustainability are discussed. In the empirical analysis econometric testing of Greek government solvency during the period 1985-2008 is combined with a scenario analysis of budgetary adjustments during the period 2011-2030 under alternative hypotheses.
Keywords: Greece, euro area, fiscal policy, policy rules, fiscal sustainability
JEL Classification: F31, F41, G15
Suggested Citation: Suggested Citation