Fiscal Adjustment in Greece under the Financial Rescue Programme : The Distributional Effects on Greek Households

• Tác giả: Naotaka Sugawara
• Ngôn ngữ: eng
• Ký hiệu phân loại: 709.38 Historical, geographic, persons treatment of fine and decorative arts
• Thông tin xuất bản: Taylor and Francis, 2013
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 308406
• Chủ đề: 1. distributional effects; 2. fiscal adjustment; 3. household welfare

Tóm tắt

This article examines the distributional effects of the fiscal adjustment programme in Greece agreed with the European Commission (EC) and the International Monetary Fund (IMF) in 2010. It deals with adjustment measures that are front loaded and directly related to the household welfare: an increase in Value-Added Tax (VAT) and excise rates and a reduction in wages and pensions. Analysing these two effects reveals that the programme decreases the welfare of all households in Greece but that the adverse effects of the adjustment are mitigated in favour of the poor.