An Economic Business Cycles Model with Credit Constraints: The Case of Greece
Ioannis Kaskarelis and
Additional contact information
Ioannis Kaskarelis: University of Macedonia, Department of Economicsmics, Postal: 156 Egnatia Street, GR-540 06 Thessaloniki, Greece ,, http://www.uom.gr/
Economia Internazionale / International Economics, 1996, vol. 49, issue 4, 561-583
A multiplier/accelerator macroeconomic model incorporating the permanent income hypothesis in private consumption, financial constraints in private investment, and a government that attempts fiscal expansions with tight money, is examined. Stability conditions show that government actions could be destabilizing if consumption patterns are closer to the Keynesian archetype than to the permanent income hypothesis. Simulation exercises show that during the period 1973-90 Greece was closer to the PIH with high marginal propensity to consume and low coefficient of acceleration with respect to aggregate private investment activities.
References: Add references at CitEc
Citations: Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0353
Access Statistics for this article
Economia Internazionale / International Economics is currently edited by Amedeo Amato
More articles in Economia Internazionale / International Economics from Camera di Commercio Industria Artigianato Agricoltura di Genova Via Garibaldi 4, 16124 Genova, Italy. Contact information at EDIRC.
Bibliographic data for series maintained by Angela Procopio ().