George Soklis

The purpose of this paper is to assess whether the Greek Recovery and Resilience Plan (RRP) can meet both the short-term goals of recovery and job creation and the long-term goals of increasing productivity, as well as reducing import dependency and CO ₂ emissions. For this purpose, we use an extended matrix multiplier framework that considers the social conditions of production on top of the technical ones. We find that the RRP may satisfy the short-term goals of economic recovery after the COVID-19 pandemic in terms of output and employment, although missing its focus on long-term development. In particular, industries that are characterized by high productivity, low import dependency, and low CO ₂ emission intensity will be marginally affected by the plan. Furthermore, we argue that direct government expenditure could be successful in achieving both these short- and long-term objectives.

This chapter aims to explore the multifaceted nature of change management in the public sector, focusing on six key dimensions: readiness for change, commitment to change, resistance to change, integration of change, successful implementation, and the content of change. The study examines how public institutions adapt to reform demands in diverse international contexts, with a dedicated section focusing on the Greek public administration. As a result of the related literature there is a successful change in the public sector requires a high level of readiness and commitment, supported by strategic leadership and clear communication. Internationally, resistance often stems from organizational culture and lack of engagement. In Greece, although reform agendas are frequent, change efforts are often undermined by bureaucratic rigidity, insufficient training, and lack of stakeholder alignment. However, recent digital and administrative initiatives suggest a growing capacity for structured change implementation.

This paper estimates the contribution of the hotel sector to the main macroeconomic figures of the Greek economy. For this purpose, we use a combination of input-output models as well as survey-based data. The analysis of the intersectoral relationships in the Greek economy indicates that the hotel sector constitutes a key sector of the economy. The total (direct and indirect) contribution of the hotel sector to the gross domestic product of the economy is estimated at 4.8% for the year 2023, whilst its total contribution to employment is estimated at 6.6%. Moreover, from the sectoral decomposition of the cost of the hotel product, it is found that almost 20% of the price of the final hotel product is composed of taxes, a percentage that is almost twice that of the other sectors of the economy. Finally, the evaluation of the results of the current study offers useful insights for policymakers.

This paper develops a supply and uses a model to estimate the direct and indirect contribution of costs to the formation of energy prices. The model is implemented into the Greek economy based on data from the supply and use tables. The findings of the analysis indicate that the main component of energy prices are profits, mainly distributed to the energy sector itself, and imports, which mostly concern Mining and quarrying products and Coke and refined petroleum products imported from non-EU countries. As far as the contribution of the energy sector to the price formation of the other industries of the Greek economy is concerned, it is found that the energy sector mainly contributes to the price formation of industrial sectors. The results imply that the containment of energy prices should be principally based on an income policy that would limit excessive profits within the energy sector and an import substitution policy towards the exploitation of domestic mining and quarrying products as well as coke and refined petroleum products.

Using a multisectoral model and data from the supply and use tables, this article estimates the exchange-rate pass-through to the domestic price level of the Turkish economy. The results indicate that a unit change in the exchange rate leads to 0.61 units of change in the overall price level. This effect comes out mostly through the industry, and the primary sector; while in terms of products, the energy sector is the major actor for the changes in the domestic price level.

Using a multisectoral model and the latest data from the OECD Input-Output Tables (IOTs-2021 ed.), this article estimates labour and capital productivities of the 38 OECD member countries. As measures of the productivity of labour, we consider the inverse of the vertically integrated labour coefficients, while Perron–Frobenius theorems are employed so as to measure capital productivity. In this respect, the productive technologies and the intersectoral relationships of each economy are taken into account. We further investigate the relationship between productivity, economic efficiency and living standards. Findings indicate that the impact of capital productivity on higher living standards depends on the evolutionary and institutional background of the economy at hand.

Based on an input–output framework, this paper analyses the intersectoral structure of the US economy and estimates the COVID-19 multiplier effects on this economy. For this purpose we employ a model of matrix multipliers—which, except for the technical conditions of production, also considers imports, income distribution, savings, and consumption patterns—using data from the input–output table of the US economy for the year 2015, i.e., the latest available data at the time of this research (a few months after the US presidential election). Furthermore, we detect the key commodities that are considered appropriate for implementing economic policies in the short term, i.e., for boosting growth and job creation, as well as the commodities that are suitable for long-term, structural policies. Our findings suggest that short-term policies for a direct recovery after COVID-19 should be based on public consumption expenditures and investments as well as through exports. It is also shown that there is a great variety of short-term and long-term policies that can be adjusted according to the challenges of the US economy. Finally, for reasons of completeness, we estimate the impact of the main plans of the American president’s policy program, i.e., the “American Jobs Plan and the American Families Plan”, and we show that both plans would cumulatively increase the US output by about USD 6.07 trillion over the next ten years, not only helping the US economy recover from the COVID-19 shock but also ensuring macroeconomic stability and social cohesion.