Distributional implications of the crisis in Greece in 2009-2012

Authors

Publication Date

Aug 2013

Abstract

The severe economic crisis affecting Greece since 2009 is having an unprecedented impact in terms of job and income losses, and is widely perceived to have a comparably significant effect in terms of greater inequality and increased poverty. We provide an assessment of whether (and to what extent) the latter is the case. More specifically, we use the European tax-benefit microsimulation model EUROMOD in order to quantify the impact of the austerity (i.e. fiscal consolidation policies) and the recession (i.e. negative developments in the wider economy) on the distribution of incomes in 2009-2012, and estimate how the burden of the crisis has been shared across income groups. We conclude by discussing the policy implications of our research.

Publication type

EUROMOD Working Paper Series

Series Number

EM14/13

Notes

Is referenced by: Matsaganis, M., Leventi, C., & World Bank (2015) Ex ante poverty and fiscal evaluation of a guaranteed minimum income programme in Greece. Washington, D.C.: World Bank.

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