Distributional implications of the crisis in Greece in 2009-2012

Chrysa Leventi and Manos Matsaganis

No EM14/13, EUROMOD Working Papers from EUROMOD at the Institute for Social and Economic Research

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.

Date: 2013-08-22
New Economics Papers: this item is included in nep-eur, nep-ltv and nep-pbe
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