The Greek response to new bailout talks and more fiscal austerity ranged from a Scrooge Christmas card to a larger underground economy.
Weekly Roundup: From Raisin Reserves to Greek Bank Reserves
Our everyday economics includes inelasticity, supply, regulation, entitlements, subsidies, healthcare, innovation, price floor, monetary policy, euro zone.
Greece’s “Cash in the Mattress Indicator”
Cash withdrawals from Greek banks show depositors’ worries about a euro zone departure and monetary policy problems.
Greek and German Games
For insight on how Greece and Germany handle the prisoner’s dilemma as they negotiate Greek debt, we can compare their differences and eurozone loyalty.
How Tax Evasion Relates to Porsches
A big part of the shadow economy, the tax evasion in Greece that prevails among the self-employed substantially ups the deficit and distorts fiscal policy.
A Closer Look at the EU 28 Economic Growth Rate
Looking at a European average economic growth rate, unemployment rate and GDP to debt ratio is misleading because of countries’ disparate economies.
With more austerity resistance to government spending cutbacks, Greece could again be heading for a sovereign debt default and a bailout.
Why the GDP is Much More Than a Number
Seemingly just a statistic, how we calculate the GDP and how it is used can be controversial and affect the lives of millions of people.
The Reason That Recession Dates Matter
Asked to define a recession, you can give the mechanical answer. It is 2 or more adjacent quarters of a real GDP decline. So, if Q1 GDP grows by 3%, Q2 by 2% and then Q3 by 1%, is that…