Charlie wrote: > For a contrary view > in favor of leaving the Eurozone: > > "Return to Devalued Drachma, Cost-Push Inflation and International > Competitiveness" > > Theodore Mariolis & Apostolis Katsinos > Dept of Pub Admin, Panteion University, Athens > > Abstract: This paper presents empirical estimates of the effects of a > return to devalued drachma on the > cost-inflation rate in the Greek economy. The results show moderate > effects and the potential > for substantial improvements in the balance of goods and services. > > Available at http://mpra.ub.uni-muenchen.de/35413/1/MPRA_paper_35413.pdf
A more elaborate paper is available at: http://file.scirp.org/Html/5-7200233_18134.htm Date of their data set: 2005 "This paper uses simple dynamic input-output price models and data from the most recent (2005) Symmetric Input-Output Table (SIOT) of the Greek economy to estimate the effects of an external devaluation on the cost-push inflation rate." (3rd paragraph). Since 2005 there has been a destruction of the Greek economy and of Greece's society, which is unparalleled in post 1945 Europe (except Russia in the 1990s). I am really interested in knowing whether the authors of the above article would come to the same conclusion if they would recalculate their set based on 2014 data. To requote Michael Smith qoting Piketty: "It is very easy for someone to be good at math; most of the time the kind of math that economists do would not impress a mathematician, but it is enough to impress people around them in the school of social sciences." _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
