Georgios Alogoskoufis

Georgios Alogoskoufis (Greek: Γιώργος Αλογοσκούφης) (born 17 October 1955[1]) is a professor of economics at the Athens University of Economics and Business since 1990. He was a member of the Hellenic Parliament from September 1996 till October 2009 and served as Greece's Minister of Economy and Finance from March 2004 till January 2009.

Georgios Alogoskoufis
Γιώργος Αλογοσκούφης
Minister of the Economy and Finance
In office
10 March 2004 – 8 January 2009
Prime MinisterKostas Karamanlis
Preceded byNikos Christodoulakis
Succeeded byYannis Papathanasiou
Personal details
Born (1955-10-17) 17 October 1955
Athens, Greece
Political partyNew Democracy
Spouse(s)Dika Agapitidou
Alma materUniversity of Athens
London School of Economics
WebsiteOfficial website

During 2004–2008 Greece's economic performance seemed extremely positive. The average growth rate was 4% per annum, unemployment fell from 10.5% in 2004 to 7.7% in 2008 just changing the way of measuring it, and public debt increased from 180 bil euro to 300 bil euro. Alogoskoufis initiated a number of policy reforms, such as the simplification of the Greek tax system such as revoking inheritance taxes for rich people, extensive privatisations, create 700 new government institutions to hire more people to the public section, export promotion, public/private partnerships etc. His supporters point out that problems for the Greek economy appeared after Alogoskoufis was replaced as minister, at the end of 2008, and especially after the change in government in October 2010. These problems appeared because of structural weaknesses in the Greek economy, such as the high public debt that was accumulated during the 1980s, the financial crisis and the partial reversal of the policies that Alogoskoufis pursued, by his successors.[2]

Background, academic and political career

George Alogoskoufis was born in Athens on 17 October 1955.[1]

The economic policy mix applied under the leadership of Alogoskoufis

In the period in which Alogoskoufis served as the minister for Economy and Finance, he actuated a series of economic structural reforms and fiscal adjustment to contain budget deficits, which, although unpopular, have managed to slash Greece's high 2004 budget deficit. In the same period of time, Greece's gross domestic product has grown by one of the highest growth rates in the Eurozone. Unemployment also fell significantly.[3][4][5]

During 2004–2007, marginal corporate and personal income taxes were reduced.[6] He worked extensively with the private sector [7] and sold over euro 6 billion of government holdings.[8]

Criticism

George Alogoskoufis was pelted with eggs by Greek left wing activists at a meeting held at the London School of Economics on 14 November 2008. The activists threw the eggs as a protest against the Greek government.

Publications

Alogoskoufis is the author of five books and has published widely in macroeconomics, international monetary economics and public economics.

Over 40 papers have been published in some of the most prestigious international academic journals including the American Economic Review, the Journal of Political Economy, the Journal of Monetary Economics, the European Economic Review, Economica, the Journal of the Japanese and International Economies, Economic Journal and the Economic Policy. His research focuses on unemployment, inflation, exchange rates, economic growth and monetary and fiscal policy.

He has given invited lectures in some of the most prestigious universities in Europe, the US and Japan and has presented papers in a number of academic conferences worldwide.

Books

“External Constraints on Macroeconomic Policy: The European Experience” (with Lucas Papademos and Richard Portes), Centre for Economic Policy Research, 1991.

“The crisis of economic policy”, Published by Kritiki Publications and the Athens Institute of Economic Policy Studies, Athens, 1994 (in Greek).

“Unemployment: Choices for Europe, Monitoring European Integration 5” (with Charles Bean, Giuseppe Bertola, Daniel Cohen, Juan Dolado, Gilles Saint-Paul), Centre for Economic Policy Research, 1995.

“The Drachma: From the Phoenix to the Euro” (with Sophia Lazaretou), Published by Livanis Publishing House, 2002 (in Greek).

“Greece after the crisis”, Kastaniotis Publications, 2009 (in Greek).

Publications in academic journals

The following is a selected list of journal articles by Alogoskoufis.[9]

  • Alogoskoufis, George S. (1982). "Unanticipated money, output and prices in Greece". European Economic Review. 19 (2): 289–303. CiteSeerX 10.1.1.694.2791. doi:10.1016/S0014-2921(82)80056-1.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (1983). "The labour market in an equilibrium business cycle model". Journal of Monetary Economics. 11 (1): 117–128. doi:10.1016/0304-3932(83)90017-X.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Pissarides, Christopher A. (September 1983). "A test of price sluggishness in the simple rational expectations model: U.K. 1950-1980". The Economic Journal. 93 (371): 616–628. doi:10.2307/2232398. JSTOR 2232398.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (1985). "Macroeconomic policy and aggregate fluctuations in a semi-industrialized open economy: Greece 1951–1980". European Economic Review. 29 (1): 35–61. CiteSeerX 10.1.1.694.3264. doi:10.1016/0014-2921(85)90037-6.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (June 1987). "Aggregate employment and intertemporal substitution in the UK". The Economic Journal. 97 (386): 403–415. doi:10.2307/2232886. JSTOR 2232886.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (October 1987). "On intertemporal substitution and aggregate labor supply". Journal of Political Economy. 95 (5): 938–960. CiteSeerX 10.1.1.694.1985. doi:10.1086/261497. JSTOR 1833124.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Manning, Alan (March 1988). "Wage setting and unemployment persistence in Europe, Japan and the USA". European Economic Review. 32 (2–3): 698–706. doi:10.1016/0014-2921(88)90218-8.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Manning, Alan; Calmfors, Lars; Danthine, Jean-Pierre (October 1988). "On the persistence of unemployment". Economic Policy. 3 (7): 427–469. CiteSeerX 10.1.1.694.4628. doi:10.2307/1344492. JSTOR 1344492.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (April 1989). "Monetary, nominal income and exchange rate targets in a small open economy". European Economic Review. 33 (4): 687–705. CiteSeerX 10.1.1.694.4332. doi:10.1016/0014-2921(89)90020-2.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (February 1990). "Monetary policy and the informational implications of the Phillips Curve". Economica. 57 (225): 107–117. CiteSeerX 10.1.1.694.5464. doi:10.2307/2554084. JSTOR 2554084.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (March 1990). "Traded goods, competitiveness and aggregate fluctuations in the United Kingdom". The Economic Journal. 100 (399): 141–163. doi:10.2307/2233599. JSTOR 2233599.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Manning, Alan (January 1991). "Tests of alternative wage employment bargaining models with an application to the UK aggregate labour market". European Economic Review. 35 (1): 23–37. CiteSeerX 10.1.1.694.2790. doi:10.1016/0014-2921(91)90101-N.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (May 1991). "Reviewed Works: Keynes' Economics: Methodological Issues by Tony Lawson, Hashem Pesaran; Kaldor's Political Economy by Tony Lawson, J. Gabriel Palma, John Sender". Economica. 58 (230): 264–266. doi:10.2307/2554658. JSTOR 2554658.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (May 1991). "Reviewed Work: Limiting Exchange Rate Flexibility: The European Monetary System by F. Giavazzi, A. Giovannini". Economica. 58 (230): 261–263. doi:10.2307/2554656. JSTOR 2554656.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Smith, Ron (December 1991). "The Phillips Curve, the persistence of inflation, and the Lucas Critique: evidence from exchange-rate regimes". The American Economic Review. American Economic Association. 81 (5): 1254–1275. JSTOR 2006916.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; van der Ploeg, Frederick (December 1991). "On budgetary policies, growth, and external deficits in an interdependent world". Journal of the Japanese and International Economies. 5 (4): 305–324. doi:10.1016/0889-1583(91)90002-8.CS1 maint: ref=harv (link)
  • Alogoskoufis, George S. (May 1992). "Monetary accommodation, exchange rate regimes and inflation persistence". The Economic Journal. 102 (412): 461–480. doi:10.2307/2234285. JSTOR 2234285.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Philippopoulos, Apostolis (October 1992). "Inflationary expectations, political parties and the exchange rate regime: Greece 1958–1989". European Journal of Political Economy. 8 (3): 375–399. doi:10.1016/0176-2680(92)90002-X.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Lockwood, Ben; Philippopoulos, Apostolis (November 1992). "Wage inflation, electoral uncertainty and the exchange rate regime: theory and UK evidence". The Economic Journal. 102 (415): 1370–1394. doi:10.2307/2234795. JSTOR 2234795.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S. (1994), "On inflation, unemployment and the optimal exchange rate regime", in van der Ploeg, Frederick (ed.), The handbook of international macroeconomics, Oxford, UK Cambridge, Massachusetts, USA: Blackwell, ISBN 9780631190622.CS1 maint: ref=harv (link)
  • Alogoskoufis, George S.; Helpman, Elhanan; Leiderman, Leonardo; Bufman, Gil; Grilli, Vittorio (October 1994). "A new breed of exchange rate bands: Chile, Israel and Mexico". Economic Policy. 9 (19): 259–306. doi:10.2307/1344497. JSTOR 1344497.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; van der Ploeg, Frederick (November 1994). "Money and endogenous growth". Journal of Money, Credit and Banking. 26 (4): 771–791. doi:10.2307/2077946. JSTOR 2077946.CS1 maint: ref=harv (link) Pdf.
  • Alogoskoufis, George S.; Giavazzi, Francesco; Laroque, Guy (April 1995). "The two faces of Janus: institutions, policy regimes and macroeconomic performance in Greece". Economic Policy. 10 (20): 147–192. doi:10.2307/1344540. JSTOR 1344540.CS1 maint: ref=harv (link) Pdf.

Awards and honorary distinctions

His PhD thesis was awarded the R. S. Sayers Prize of the London University for 1981. His book, "The Drachma: From the Phoenix to the Euro", was awarded the prize of the Academy of Athens in 2002.

References
  1. Curriculum Vitae Archived 2007-03-11 at the Wayback Machine at Hellenic Parliament website.
  2. "Data of the EU Parliament".
  3. "The Minister of Sound" Article about G. Alogoskoufis in the Belgian newspaper European Voice, published by the Economist Group.
  4. "Rising prosperity brings feel-good factor" Article in the Financial Times on the Greek economy.
  5. "With little fanfare, Greece has become one of Europe's best-performing economies and stock markets" Article in Forbes on the Greek economy.
  6. "Archived copy". Archived from the original on 2008-03-28. Retrieved 2008-03-26.CS1 maint: archived copy as title (link) Corporate and personal income taxes reduction
  7. "Archived copy". Archived from the original on 2008-04-14. Retrieved 2008-03-26.CS1 maint: archived copy as title (link) List of PuPlic Private Partnership projects
  8. "Archived copy" (PDF). Archived from the original (PDF) on 2008-04-14. Retrieved 2008-03-26.CS1 maint: archived copy as title (link) Table of Privatization revenues
  9. "Profile: George Alogoskoufis, publications". alogoskoufis.gr. George Alogoskoufis. Archived from the original on 8 February 2012.
Political offices
Preceded by
Nikos Christodoulakis		 Minister of the Economy and Finance
2004–2009		 Succeeded by
Yannis Papathanasiou
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.