The Prominence of the Falling Unit Labor Cost Factor in the Greek Exports Boom
Keywords:
Greek exports, export determinants, unit labor cost, domestic demand pressureAbstract
investigates which factors led to its impressive rebound in recent years. The main findings suggest that the driving force behind the export boom was increase in price competitiveness. Furthermore, one of the determinants, namely the global demand factor, is found to have greater than expected elasticity. The evidence on domestic demand pressure on exports is inconclusive, (using as a proxy the ratio of prices of Greek internationally tradeable goods to that of non tradeables) but there is some support found to the hypothesis that increased domestic demand is negatively affecting exports.
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Copyright (c) 2024 Ilias Salpigktidis, Ioannis Krassas, Georgios Anastasiadis, Nikolaos Hourvouliades (Author)
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