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The static Sraffian multiplier for the Greek economy: evidence from the Supply and Use Table for the year 2010*

Theodore Mariolis and George Soklis

Keywords: Greek economy; joint production; key commodities; management of effective demand; static Sraffian multiplier; Supply and Use Tables

This paper estimates the ‘static Sraffian multiplier’ for the Greek economy using data from the Supply and Use Table for the year 2010. It is found that (i) an effective demand management policy could be mainly based on the service sector; and (ii) the whole economic system, and especially its industry sector, is heavily dependent on imports. The results seem to be in accordance with the observed deep recession of the Greek economy and, furthermore, suggest that a change in its intersectoral structure is necessary.

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