TY  - UNPD
A1  - Haliassos, Michael
T1  - Salary cuts and competitiveness
T2  - SAFE policy letter series ; 1
N2  - There is a prevalent view outside Greece that promotion of competitiveness is tantamount with price reductions for Greek goods and services. Massive horizontal salary cuts appear, at first, to promote competitiveness by reducing unit labor costs and to reduce fiscal deficits by reducing the wage bill of the public sector. Upon closer look, however, horizontal salary cuts have been much greater than needed for Greek competitiveness, providing an alibi vis a vis the Troika for reforms that are still to be implemented, but at the same time undermining both competitiveness and the potential to reduce public debt through sustainable development.
T3  - SAFE policy letter - 1 
KW  - Greek economic crisis
KW  - productivity
KW  - structural reforms
Y1  - 2013
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/29961
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-299611
SP  - 1
EP  - 4
PB  - SAFE
CY  - Frankfurt am Main
ER  -