Testing the Bhaduri–Marglin model for the demand regime of Greece

This paper investigates the demand regime of the Greek economy for the period 1960–2017, using a Bhaduri/Marglin (1990) type macroeconomic demand-led model and applying the empirical methodology developed in Stockhammer et al. (2009). The analysis finds that Greece is another European economy with a wage-led demand regime, both domestically and as an open economy. Moreover, the analysis shows that the results are robust across different sample sizes, for the period 1960–2017, and the two sub-periods 1960–1989 and 1990–2017.