The Grand Tour: Keynes and Goodwin go to Greece

Eduardo Haddad, Natalia Cotarelli, Thiago Simonato, Vinícius Vale and Jaqueline Coelho Visentin

No 5-2017, TD NEREUS from Núcleo de Economia Regional e Urbana da Universidade de São Paulo (NEREUS)

Abstract: The impact of the crisis in the Greek economy was not uniform among the regions, threatening socioeconomic cohesion. In this paper, we explore the concept of the income multiplier in a multi-regional setting, in the context of the Greek recession, showing empirical evidence for the increasing magnitude of the multiplier during the recession period. The main results reveal a complex system of interregional relations on some of whose structural characteristics the cyclical reaction paths of the regions depend. In this case, the use of fiscal instruments to stimulate local activity in the regions may bring about important implications for regional inequality in Greece.

Keywords: interregional input-output system (IIOS); income multiplier; fiscal instruments; regional inequality; Greek recession (search for similar items in EconPapers)
JEL-codes: R10 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: The Grand Tour: Keynes and Goodwin go to Greece (2020)
Working Paper: The Grand Tour: Keynes and Goodwin go to Greece (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:nereus:2017_005

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