Greece's Convergence to EU Standards: Is It Feasible for Greece to Attain an Unemployment Rate Below 10%?

• 발행기관: 세종대학교 경제통합연구소
• 저자명: Panagiotis Liargovas Georgios Bertsatos George Agiomirgianakis George Sfakianakis
• 간행물 정보: 『Journal of Economic Integration』제40권 제2호, 237~253쪽, 전체 17쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2025.05.31

국문 초록

Given the theory of efficient unemployment and using Eurostat data, it turns out that the average annual unemployment in Greece over the last -at least- 15 years has been consistently below 10% when job vacancies are considered. Given that based on cumulative data for the period 2010-2022 job vacancies are estimated to be between 98 thousand and 123 thousand, we argue that an appropriate indicator for the degree of slackness/tightness of the Greek labor market should combine both unemployed persons and job vacancies. That is, the u* indicator of the full-employment rate of unemployment (FERU). Our analysis shows that if the positive trends of the declining unemployment rate and increasing job vacancy rate continue, a full-employment state could be reached even in the next 3.5 years converging to EU standards.

목차

I. Motivation

II. Unemployment and Job Vacancies

III. Calculating the Efficient Unemployment in Greece

IV. Economic Crisis, Brain Drain, and Migration Flows

V. Conclusions

References

키워드

Labor Market Unemployment Vacancies Greece