Agora
Posts by Bob Traa & Jens Bastian
Reflections on Greece's balance of payments
The current account. We can think of GDP as income (Y) from the production and supply of goods and services: production determines “income.” On the demand side, we can distinguish four categories: consumption (C), investment (I), exports (X), and imports (M). Thus, when demand is equal to supply: Y = C + I + X - M.
Contributor: Bob Traa & Jens Bastian
Categories: Europe (274), Economy (309), Greece (462)
Tailor-made Maastricht criteria for Greece?
The European Union is discussing how to reform the fiscal rules for its member states. The original rules, called the “Maastricht Criteria” for the deficit and the debt, appeared straightforward, in principle. They called for the deficit of a member state to remain below 3 percent of GDP a year, while the stock of debt should not exceed 60 percent of GDP.
Contributor: Bob Traa & Jens Bastian
Categories: Europe (274), Economy (309), Greece (462)
Where is Odysseus? Part 6 - Potential real GDP
As in our previous five monthly blogs, we continue to trace the progress of modern-day Odysseus, who started a long voyage in 2018 to help bring Greece back home to a sustainable and prosperous economy. He is seeking to navigate the winds of a high debt ratio of 185 percent of GDP towards a debt ratio of 60 percent of GDP. The plan that Odysseus had developed in 2018 is described in a book on the macroeconomy of Greece.
Contributor: Bob Traa & Jens Bastian
Categories: Europe (274), Politics (361), Economy (309), Greece (462)
Where is Odysseus? Part 5 - Productivity
As in our previous four monthly blogs, we continue to trace the progress of modern-day Odysseus, who started a long voyage in 2018 to help bring Greece back home to a sustainable and prosperous economy. He is seeking to navigate the winds of a high debt ratio of 185 percent of GDP towards a debt ratio of 60 percent of GDP. The Plan that Odysseus had developed in 2018 is described in a book on the macroeconomy of Greece.
Contributor: Bob Traa & Jens Bastian
Categories: Politics (361), Economy (309), Society (128), Greece (462)
Where is Odysseus? Part 4 - Unemployment and Employment
As in the previous three monthly blogs, we continue to trace the progress of modern-day Odysseus, who started a long voyage in 2018 to help bring Greece back home to a sustainable and prosperous economy. He is seeking to navigate a high debt ratio of 185 percent of GDP towards a debt ratio of 60 percent of GDP.
Contributor: Bob Traa & Jens Bastian
Categories: Europe (274), Politics (361), Economy (309), Society (128), Greece (462)