Analyzing and comparing the impact of alternative concepts of resources in distributional studies: Greece, 2004/5

The usual practice in empirical distributional studies is to use either disposable income or consumption expenditure as a proxy for welfare. Essentially, both variables are used as approximations of the unobserved “permanent income” of the population members. This paper exploits the information in the Greek Household Budget Survey of 2004/5 and constructs an indicator of “permanent income” using a latent variable approach. The distributions of disposable income, consumption expenditure and permanent income are compared regarding their level and structure of inequality and poverty. Both inequality and poverty appear to be substantially lower using the distribution of permanent income instead of either the distribution of disposable income or the distribution of consumption expenditure, while differences are also evident when decomposition analysis of inequality and poverty is employed using appropriate indices.permanent income, inequality, poverty, welfare level

The determinants of Greek household indebtedness and financial stress

The paper uses data from the household survey conducted by the Bank of Greece in 2007 and investigates how various socioeconomic characteristics of households, such as income and wealth, household size, the age, education level and tenure of employment of the household head, are related with the probability of having a loan, the distribution of the financial stress as is measured by the debt service cost to income ratio, and also with the proper or not servicing of their loans. Most of the characteristics examined were found to be associated with the household’s probability of having a loan. Financial stress tends to decline as household income and net wealth increase, while certain household characteristics were also found to affect households’ capacity to service properly their debt obligations.household indebtedness; debt service

The impact of exogenous shocks on the dynamics and persistence of inflation: a macroeconomic model-based approach for Greece

The paper analyses the dynamic response of inflation to various economic shocks and investigates the sources of inflation persistence through a set of counter factual simulations. Analysis shows that inflation seems to be more persistent in Greece than, on average, in Euro Area. Inflation persistence tends to be higher in response to fiscal shocks than others shocks. Only an indirect tax shock could be classified as “non-persistent” for Greece. Inflation persistence is crucially affected by the degree of competition in product market and it is mainly of intrinsic nature while nominal rigidities and frictions in the labor market do not seem important in explaining the relatively higher persistence of Greek inflation.Inflation persistence,macroeconomic models,impulse response function

The distributional impact of social transfers in the European Union: evidence from the ECHP

Social transfers vary enormously across the European Union, as has been demonstrated in earlier research. This paper analyses the comparative effects of these transfers on inequality and poverty, using consistent household data. The analysis shows that the distributional impact of these transfers is greater in countries that spend a higher proportion of their GDP on them, but that there are other important determinants, including the extent of means testing, the distribution of funds between different types of transfer and the degree of targeting for each transfer. It also shows that effective targeting can be achieved without high levels of means testing.

Design, development and characterisation of piezoresistive and capacitive polymeric pressure sensors for use in compression hosiery

The work in this thesis was focused in developing a flexible and cost-effective pressure sensor capable of detecting pressure variations within the low working range (0-6kPa) of compression hosiery. For this cause, both piezoresistive and capacitive pressure sensors were developed and characterised, utilising conductive and non-conductive polymeric elements to sense compressive loads. In the first case, the developed piezoresistive sensor is composed of a conductive filler - polymer composite, with a force-dependent conductivity, encapsulated in between a structured and unstructured configuration of electrodes. Initially, as the sensing element of the sensor a multi-walled carbon nanotubes-polydimethylsiloxane (MWCNT-PDMS) composite was tested. A fabrication process is also proposed for developing the MWCNT-PDMS composite which involves a series of successive direct ultrasonications and shear mixing in order to disperse the two constituents of the composite, with the use of an organic solvent. Developing the composite over a range of different filler concentrations revealed a sharp step-like conductivity behaviour, typical amongst percolating composites. The MWCNT-PDMS sensor exhibited a positive piezoresistive response when subjected to compression, which was substantially enhanced when structured electrode layers were utilised. A Quantum Tunnelling Composite (QTC) material was also tested as the sensing material, which displays a large negative piezoresistive response when deformed. The QTC pressure sensor exhibited an improved performance, which was similarly significantly increased when a structured electrode was employed. In the second case, a parallel-plate capacitive pressure sensor was developed and characterised, which successfully provided a pressure sensitivity within the working range of compression hosiery. The sensor employs an ultra-thin PDMS blend film, with tuneable Young’s modulus, as the dielectric medium of the capacitor, bonded in between two rigid copper-coated glass layers. A casting process is also presented, involving the use of a sacrificial mould, in order to pattern the polymeric film with a micro-pillar structure to assist the deformation of the medium under compressive loads. The performance of the sensor with regards to the polymeric film thickness, structure and mechanical softness was explored. Overall, the combination of an ultra-thin dielectric medium with a very low Young’s modulus and a microstructured surface resulted in a capacitive pressure sensor with a good performance within the desired pressure regime

Social Indicators and the Effectiveness of Social Transfers in Greece over the Recent Crisis

Στην εργασία αυτή παρουσιάζονται και αναλύονται βασικοί δείκτες σχετικοί με τη φτώχεια, την οικονομική ανισότητα και τον κοινωνικό αποκλεισμό στην Ελλάδα και την ευρωζώνη κατά την περίοδο της οικονομικής κρίσης 2009-2014. Τα διαθέσιμα στοιχεία δείχνουν ότι τα έξι έτη οικονομικής ύφεσης και λιτότητας στην Ελλάδα είχαν σημαντικές αρνητικές επιπτώσεις στα ποσοστά φτώχειας και κοινωνικού αποκλεισμού, τα οποία ανήλθαν σε ιστορικά πρωτοφανή και κοινωνικά μη αποδεκτά υψηλά επίπεδα. Τα στοιχεία και οι αναλύσεις της εργασίας καταδεικνύουν ότι το Κοινωνικό Κράτος, του οποίου μια από τις κύριες αποστολές είναι η αναδιανομή του εισοδήματος μέσω των κοινωνικών παροχών, είναι το λιγότερο αποτελεσματικό μεταξύ των χωρών της ευρωζώνης στη μείωση της φτώχειας και της εισοδηματικής ανισότητας. Η Ελλάδα κατατάσσεται τελευταία στην ευρωζώνη ως προς την εμπιστοσύνη στην κυβέρνηση, την ελευθερία επιλογών, την αντίληψη διαφθοράς στον δημόσιο τομέα και την υποκειμενική ευτυχία. Είναι, ακόμα, στις τελευταίες θέσεις ως προς την εμπιστοσύνη στους άλλους και την κοινωνική στήριξη. Θεωρούμε ότι η διάβρωση του κοινωνικού ιστού και η αρνητική αντίληψη του κλίματος εμπιστοσύνης στην Ελλάδα είναι δύο παράγοντες που συνέβαλαν σε μεγάλο βαθμό ώστε η Ελλάδα να καταγράψει τις μεγαλύτερες απώλειες στα επίπεδα υποκειμενικής ευτυχίας από την περίοδο 2005-2007 στην περίοδο 2012-2014 μεταξύ 125 χωρών παγκοσμίως.In this paper we present key statistics on poverty, inequality and social exclusion in Greece and the eurozone over the crisis period 2009-2014. The data presented in this paper reveal that six years of economic recession and usterity in Greece have had a significant negative impact on rates of poverty and social exclusion, which have reached historically unprecedented and socially unacceptable high levels. Our data and analyses suggest that the Welfare State, one of the major functions of which is to redistribute income collected through taxation via social transfers, is the least effective in Greece, among all eurozone countries, in alleviating poverty and income inequality. Greece is ranked last in the Eurozone in terms of trust in government, freedom of choice, perceived levels of public sector corruption, and happiness, and third and second to last, respectively, in terms of trust in others and social support. We argue that the erosion of the social fabric and the perceived quality of the Greek climate of trust appear to be part of the story of Greece being the biggest happiness loser among 125 countries from 2005-2007 to 2012-2014

Education and economic inequalities

The paper examines the structure and determinants of economic inequality in Greece and the EU-15 countries using data from the latest available Greek Household Budget Survey and the 7th wave of the ECHP survey. Emphasis is given to the possibly less well- researched but nonetheless important role of education in the shaping of economic inequalities. The analysis shows that in Greece, as in most EU countries, economic inequalities are primarily due to within population group disparities. However, nearly one fourth of aggregate inequality in most countries and mainly in Mediterranean countries is attributed to disparities between the population groups defined according to their educational characteristics and to a lesser extent to the occupational characteristics of the household head. In the light of this former finding, policies aimed at reducing educational disparities and improving human capital within the more disadvantaged groups of the population are likely to be more effective policies for alleviating economic inequalities.: inequality, education