ACCOUNTING IMPRINT OF MACROECONOMIC MAGNITUDE: VERTICALLY INTEGRATED SECTORS OF THE GREEK ECONOMY

Authors

  • Theodoras Papaelias NEI of Piraeus
  • Nicos Stroblos
  • Vassilis Panagou TEI of Kalamata

Keywords:

Microeconomic and macroeconomic production functions, capital, labor, closed economy, a final or intermediate commodity, vertically integrated sectors, aggregate production function, economic growth.

Abstract

The productivity indicators are based either on the microeconomic or the macroeconomic notion of sectors of production and vertically integrated sectors of production correspondingly. The first refers to the set of factors of production implemented by the enterprise, whereas the others are the utilized factors employed in other sectors added to the microeconomic sectors. In a traditional approach the microeconomic sectors of production play a dominant role in the analysis of economic development. This paper suggests a microeconomic approach of macroeconomic production factors with the realism implied by using the Computable General Equilibrium (CGE) Models, while enhances the study of areas which are difficultly examined by the aggregate production function. The proposed methodological tool is applied to the Greek economy.

 

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How to Cite

Papaelias, Theodoras, et al. “ACCOUNTING IMPRINT OF MACROECONOMIC MAGNITUDE: VERTICALLY INTEGRATED SECTORS OF THE GREEK ECONOMY”. Journal of European Economy, vol. 4, no. 1, Mar. 2005, pp. 5-20, https://jeej.wunu.edu.ua/index.php/enjee/article/view/1069.

Issue

Vol. 4 No. 1 (2005): JOURNAL OF EUROPEAN ECONOMY

Section

MACROECONOMICS

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