Arbeitspapier
"Twin deficits" in Greece: In search of causality
The paper discusses the trajectories of the Greek public deficit andsovereign debt between 1980 and 2010 and its connection to thepolitical and economic environment of the same period. We payspecial attention to the causality between the public and the externaldeficit in the period after 1995, the post-Maastricht treaty period.We argue that, due to the European monetary unification processand the adoption of the common currency, causality ran fromthe external deficit to the public deficit. This hypothesis is testedeconometrically using both Granger Causality and Cointegrationanalyses. We find empirical support for this hypothesis.
- Language
-
Englisch
- Bibliographic citation
-
Series: IMK Working Paper ; No. 143
- Classification
-
Wirtschaft
Fiscal Policy
International Investment; Long-term Capital Movements
International Lending and Debt Problems
Open Economy Macroeconomics
- Subject
-
Greece
crisis
public debt
twin deficits
imbalances
- Event
-
Geistige Schöpfung
- (who)
-
Nikiforos, Michalis
Carvalho, Laura
Schoder, Christian
- Event
-
Veröffentlichung
- (who)
-
Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
- (where)
-
Düsseldorf
- (when)
-
2014
- Handle
- URN
-
urn:nbn:de:101:1-2015032510680
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Nikiforos, Michalis
- Carvalho, Laura
- Schoder, Christian
- Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
Time of origin
- 2014
Other Objects (12)
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The twin deficits hypothesis: Evidence from Ghana
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"Twin deficits" in Greece - in search of causality
Foreign and public deficits in Greece: In search of causality
Twin Deficits: Evidence From Portugal, Italy, Spain and Greece
Twin Deficits: Evidence From Portugal, Italy, Spain and Greece
The twin deficits hypothesis and reverse causality: A short-run analysis of Peru
Twin Deficits in Suriname: An Empirical Analysis
The twin deficits hypothesis: Evidence from Ghana
Sovereign Default Risk Premia and State-Dependent Twin Deficits
A Tale of Two Deficits: Causality and Care in Medical AI
Bootstrap panel granger-causality between government budget and external deficits for the EU
Correction to: A Tale of Two Deficits: Causality and Care in Medical AI
Current account deficits in Greece, Portugal and Spain: Origins and consequences
"Twin deficits" in Greece - in search of causality
Foreign and public deficits in Greece: In search of causality
Twin Deficits: Evidence From Portugal, Italy, Spain and Greece
Twin Deficits: Evidence From Portugal, Italy, Spain and Greece
The twin deficits hypothesis and reverse causality: A short-run analysis of Peru
Twin Deficits in Suriname: An Empirical Analysis
The twin deficits hypothesis: Evidence from Ghana
Sovereign Default Risk Premia and State-Dependent Twin Deficits
A Tale of Two Deficits: Causality and Care in Medical AI
Bootstrap panel granger-causality between government budget and external deficits for the EU
Correction to: A Tale of Two Deficits: Causality and Care in Medical AI