Macroeconomic modelling of the Greek economy

Abstract

The present thesis consists of three applied studies dealing with aspects of the recent macroeconomic performance of the Greek economy. They all aim to pursue and to link two different kinds of issues: a) The first one is to derive useful insights into the functioning of the Greek economy during the post 1974 period. That is of particular interest given the country’s poor macroeconomic performance in comparison with its post-war experience. In addition, the period covers the effects of a number of important policy regime shifts (restoration of democracy in 1974, admission to the EU in 1981, switch in macroeconomic policies in the mid 80’s) and therefore can be of use for making inference on the effects that institutional and policy regime changes have on economies. b) The second one has to do with the implications that methodological issues have on econometric modelling.