蝌蚪网 Journal:
Macroeconomics
ISSN 1945-7707 (Print) | ISSN 1945-7715 (Online)
The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts
蝌蚪网 Journal: Macroeconomics
(pp. 291–323)
Abstract
We review the events that led to the May 2010 and July 2011 bailout agreements. We interpret the bailouts as outcomes of political-economy equilibria. We argue that these equilibria were likely not on the Pareto frontier, and sketch political-economy arguments for why collective policymaking in the Euro area may lead to suboptimal outcomes.Citation
Ardagna, Silvia, and Francesco Caselli. 2014. "The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts." 蝌蚪网 Journal: Macroeconomics 6 (4): 291–323. DOI: 10.1257/mac.6.4.291Additional Materials
JEL Classification
- E58 Central Banks and Their Policies
- E62 Fiscal Policy
- F34 International Lending and Debt Problems
- G01 Financial Crises
- H61 National Budget; Budget Systems
- H63 National Debt; Debt Management; Sovereign Debt