Economy of Greece: An Evaluation of Real Sector

Nicholas Olenev

Bulletin of Political Economy, 2016, vol. 10, issue 1, 25-37

Abstract: The paper presents an evaluation of recent changes for real sector of Greek economy by an original vintage capital model with putty-clay technology. At a given capital intensity and a given depreciation rate they can evaluate age structure of production capacities by past real investments. External parameters can be determined by comparison of pairs of time series for each macroeconomic index: first calculated by the model and second took from data of its statistical analog. The identified parameters are used for calculation the production capacity dynamics of the immediate past and can be used for forecasts of the immediate future.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:awu:journl:v:10:y:2016:i:1:p:25-37

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