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How to Handle the Fiscal Crisis in Greece? Empirical Evidence Based on a Survey of Economic Experts

Martin Mosler (), Niklas Potrafke () and Markus Reischmann ()

No 306, ifo Working Paper Series from ifo Institute - Leibniz Institute for Economic Research at the University of Munich

Abstract: We asked economic experts polled by the CESifo World Economic Survey how to handle the fiscal crisis in Greece in the year 2015. The sample includes about 850 experts from 110 countries. We find systematic differences in experts’ recommendations. Our results suggest that policy advice is related to an expert’s personal and country-level attributes. Country-level characteristics, especially credit default swaps as a measure of fiscal stability, predict views on whether Greece should exit the eurozone. An expert’s educational background, age and professional affiliation predict opinions on the credit programs of the International Monetary Fund. We propose that policymakers who seek balanced policy advice should consult experts from different countries and personal backgrounds.

Keywords: Greece; Grexit; experts’ survey; public debt crisis; IMF; international organizations; policy advice (search for similar items in EconPapers)
JEL-codes: H63 C83 H12 F53 E42 F45 D72 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-mac
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Journal Article: How to Handle the Fiscal Crisis in Greece: Empirical Evidence Based on a Survey of Economic Experts (2019) Downloads
Working Paper: How to Handle the Fiscal Crisis in Greece? Empirical Evidence Based on a Survey of Economic Experts (2019) Downloads
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