A Model to Deal with Aggregate Supply and Demand Imbalances: The Case of Greece

Maria Albani and Yannis Stournaras

The Journal of Economic Asymmetries, 2009, vol. 6, issue 1, 15-28

Abstract: The effort to achieve the convergence criteria and the participation in the euro zone has coincided with a period of high, domestic-demand led growth in the Greek economy, continuing fiscal imbalances, a booming current account deficit, and relatively high unemployment. The economy needs rebalancing both on the demand and the supply sides. A model of aggregate supply and demand is constructed to show certain aspects of this rebalancing.

Keywords: F41; Q43; Real exchange rate; Aggregate supply and demand imbalances; Greece (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joecas:v:6:y:2009:i:1:p:15-28

DOI: 10.1016/j.jeca.2009.01.003

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