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LABOUR COST AND EMPLOYMENT MULTIPLIERS: THE CASE OF GREECE (1988-1998)

Belegri-Roboli, Athena and Michaelides, Panayotis G. and Markaki, Maria (2005): LABOUR COST AND EMPLOYMENT MULTIPLIERS: THE CASE OF GREECE (1988-1998).

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Abstract

The present paper measures the labour multipliers in the Greek economy by means of input-output analysis. The purpose of the paper is to study the interdependencies between the labour structure changes and economic growth in Greece, by measuring the backward and forward multipliers by industry. The backward multipliers measure the structural changes in the total labour cost and employment, respectively, due to variations in the final demand. The forward multipliers measure the impact of the variations of employment and labour cost on the final demand categories. The data are obtained from the Greek input-output tables (1988-1998). The empirical results show that the total (labour cost and employment) backward multipliers, have generally increased over the 1988-1998 period. On this basis, some policy implications are discussed, regarding the country’s priority to reshape the labour market and to increase employment.

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