A Medium-Term Macro Forecast Model for the Greek Economy

Mike Tsionas

Chapter 6 in The Rebirth of the Greek Labor Market, 2014, pp 85-102 from Palgrave Macmillan

Abstract: Abstract This chapter describes an econometric model for Greece used to realize both the macroeconomic medium-term projections and the labor projections up to 2020. The aim is to foresee the course of the Greek economy in the medium term through a simplified and well-structured model. The econometric model was specified and estimated using 2000– 2012 quarterly data and it strives to: (a) be flexible in terms of policy analysis, and (b) provide reasonable forecasts for the period 2014–2020. Existing models extract from important features of reality such as the role of credit, “excess demand” in the form of new orders in the domestic or foreign sectors of the economy, and realized expectations in the form of results from survey data.

Keywords: Interest Rate; Gross Domestic Product; Euro Area; Gross Domestic Product Growth; Real Gross Domestic Product (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-46082-0_6

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DOI: 10.1057/9781137460820_6

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