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Multiplier effects by sector: an input-output analysis of the Greek economy

Author

Listed:
  • Constantina Backinezos

    (Bank of Greece)

  • Stelios Panagiotou

    (Bank of Greece)

  • Evangelia Vourvachaki

    (Bank of Greece)

Abstract
This study presents the output, gross value added and employment multipliers for the Greek economy based on the most recent Input-Output tables of 2015, which were compiled according to the European System of Accounts (ESA) 2010. The analysis utilises the Leontief model, in both the “open” and “closed” variations with respect to households’ consumption, which allows to assess, at a disaggregated sectoral level, the direct and indirect production effects, as well as the induced consumption effects caused by exogenous changes in the final demand of each sector. The multipliers offer an up-to-date and systematic ranking of sectors according to their economy-wide potential impact owing to their technological features and inter-sectoral linkages.

Suggested Citation

  • Constantina Backinezos & Stelios Panagiotou & Evangelia Vourvachaki, 2020. "Multiplier effects by sector: an input-output analysis of the Greek economy," Economic Bulletin, Bank of Greece, issue 52, pages 7-28, December.
    • Handle: RePEc:bog:econbl:y:2020:i:52:p:7-28
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    File URL: https://www.bankofgreece.gr/Publications/oikodelt202012.pdf
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    More about this item

    Keywords

    input-output analysis; Leontief multipliers; output multipliers; GVA multipliers; employment multipliers; Greek economy;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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