https://mpra.ub.uni-muenchen.de/id/eprint/23173 2019-09-27T16:09:35Z info:eu-repo/semantics/descriptiveMetadata https://mpra.ub.uni-muenchen.de/23173/ Δυναμική του χρέους, ‘δίδυμα ελλείμματα’ και διεθνής ανταγωνιστικότητα της ελληνικής οικονομίας Mariolis, Theodore Papoulis, Κostas E12 - Keynes ; Keynesian ; Post-Keynesian F34 - International Lending and Debt Problems F41 - Open Economy Macroeconomics E11 - Marxian ; Sraffian ; Kaleckian H6 - National Budget, Deficit, and Debt This paper explores the dynamics of the Greek public debt and its relationship with the ‘twin deficits’, that is, the public and current account deficits. By modeling the evolution of these variables and using actual data of the Greek economy, this paper shows that the public debt is unsustainable as the ‘twin deficits’ are expected to persist. The causa causans of this persistence is the erosion of the international competitiveness of the country. Under these circumstances, the contemplation of policies such as reduction in government expenditures and cuts in unit labour costs in the private sector seems to be the only available, although too little too late ‘remedy’. 2010-06 MPRA Paper NonPeerReviewed application/pdf en https://mpra.ub.uni-muenchen.de/23173/1/MPRA_paper_23173.pdf Mariolis, Theodore and Papoulis, Κostas (2010): Δυναμική του χρέους, ‘δίδυμα ελλείμματα’ και διεθνής ανταγωνιστικότητα της ελληνικής οικονομίας. el info:eu-repo/semantics/objectFile info:eu-repo/semantics/humanStartPage