Fiscal Adjustment in Greece: In Search for Sustainable Public Finances

20 Pages Posted: 25 Jan 2012

See all articles by Bas Van Aarle

Bas Van Aarle

Leuven Centre for Irish Studies LCIS; CESifo (Center for Economic Studies and Ifo Institute); Radboud University Nijmegen - Department of Economics

Marcus Kappler

Center for European Economic Research (ZEW)

Date Written: December 1, 2011

Abstract

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

van Aarle, Bas and Kappler, Marcus, Fiscal Adjustment in Greece: In Search for Sustainable Public Finances (December 1, 2011). ZEW - Centre for European Economic Research Discussion Paper No. 11-080, Available at SSRN: https://ssrn.com/abstract=1991826 or http://dx.doi.org/10.2139/ssrn.1991826

Bas Van Aarle

Leuven Centre for Irish Studies LCIS ( email )

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Belgium
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+32 16 310431 (Fax)

CESifo (Center for Economic Studies and Ifo Institute)

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Munich, DE-81679
Germany

HOME PAGE: http://www.cesifo.de

Radboud University Nijmegen - Department of Economics ( email )

P.O.Box 9108
6500 HK Nijmegen
Netherlands
+31 24 3616172 (Phone)
+31 24 3611846 (Fax)

Marcus Kappler (Contact Author)

Center for European Economic Research (ZEW) ( email )

P.O. Box 10 34 43
L 7,1 D-68161 Mannheim
Germany
+49 621 1235 157 (Phone)
+49 621 1235 223 (Fax)

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