Greece: Selected Issues

October 13, 1998

Preview Citation

Format: Chicago

Greece: Selected Issues, (USA: International Monetary Fund, 1998) accessed September 19, 2024

Summary

This Selected Issues paper explores the determinants of Greece’s potential output, an exercise that could shed light on its current cyclical position, as well as on its medium-term growth prospects. To that end, a production function is estimated, with capital and labor as factors of production and time-varying total factor productivity. The estimation results suggest that the output gap has been closing in recent years, with output projected to be slightly above potential in 1998. The paper also explores the impact of changes in the drachma’s exchange rate on inflation.

Subject: Exchange rates, Foreign exchange, Inflation, Labor, Output gap, Potential output, Prices, Production, Real wages, Total factor productivity

Keywords: CR, Enterprise, Exchange rates, Government, Government investment pattern, Government investment ratio, Government involvement, Inflation, ISCR, Output gap, Price inflation, Real wages, Total factor productivity, Trend employment, Worker government capital

Publication Details

Pages:

108
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/100
Stock No:

1GRCEA0011998
ISBN:

9781451816082
ISSN:

1934-7685

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