Georgios Alogoskoufis

{{Infobox officeholder

|name = Georgios Alogoskoufis
{{small|Γιώργος Αλογοσκούφης}}

|image = GAlogoskoufis Nov06 (original size).JPG

|office = Minister of the Economy and Finance

|primeminister = Kostas Karamanlis

|term_start = 10 March 2004

|term_end = 8 January 2009

|predecessor = Nikos Christodoulakis

|successor = Yannis Papathanasiou

|birth_date = {{birth date and age|1955|10|17|df=y}}

|birth_place = Athens, Greece

|death_date =

|death_place =

|party = New Democracy

|spouse = Dika Agapitidou

|alma_mater = University of Athens
London School of Economics

|website = {{Official URL}}

}}

Georgios Alogoskoufis ({{langx|el|Γιώργος Αλογοσκούφης}}) (born 17 October 1955[http://www.parliament.gr/english/synthesh/mp.asp?MPID=361 Curriculum Vitae] {{webarchive|url=https://web.archive.org/web/20070311045012/http://www.parliament.gr/english/synthesh/mp.asp?MPID=361 |date=2007-03-11 }} at Hellenic Parliament website.) 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.

Background, academic and political career

George Alogoskoufis was born in Athens on 17 October 1955.

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 failed to slash Greece's high 2004 budget deficit (from 5.7% in 2003 to 9.8% in 2008). 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.[https://archive.today/20070625075816/http://www.europeanvoice.com/archive/article.asp?id=28016 "The Minister of Sound"] Article about G. Alogoskoufis in the Belgian newspaper European Voice, published by the Economist Group.[http://search.ft.com/ftArticle?queryText=Rising+prosperity&y=0&aje=false&x=0&id=070713000627&ct=0 "Rising prosperity brings feel-good factor"]{{Dead link|date=December 2019 |bot=InternetArchiveBot |fix-attempted=yes }} Article in the Financial Times on the Greek economy.[https://archive.today/20080123133028/http://www.forbes.com/business/forbes/2007/0723/160.html "With little fanfare, Greece has become one of Europe's best-performing economies and stock markets"] Article in Forbes on the Greek economy.

During 2004–2007, marginal corporate and personal income taxes were reduced.{{cite web |url=http://www.mnec.gr/en/metarithmisi/forol_metarithmisi/ |title=Ministry of Economy and Finance - |access-date=2008-03-26 |url-status=dead |archive-url=https://web.archive.org/web/20080328182650/http://www.mnec.gr/en/metarithmisi/forol_metarithmisi/ |archive-date=2008-03-28 }} Corporate and personal income taxes reduction He worked extensively with the private sector {{cite web |url=http://www.sdit.mnec.gr/en/projects/ |title=Special PPP Secretariat - Approved Projects |access-date=2008-03-26 |url-status=dead |archive-url=https://web.archive.org/web/20080414192448/http://www.sdit.mnec.gr/en/projects/ |archive-date=2008-04-14 }} List of PuPlic Private Partnership projects and sold over euro 6 billion of government holdings.{{cite web |url=http://www.mnec.gr/export/sites/mnec/en/metarithmisi/Privatisation_Programme/01_table_Privatisation_Revenues.pdf |title=Archived copy |access-date=2008-03-26 |url-status=dead |archive-url=https://web.archive.org/web/20080414151213/http://www.mnec.gr/export/sites/mnec/en/metarithmisi/Privatisation_Programme/01_table_Privatisation_Revenues.pdf |archive-date=2008-04-14 }} Table of Privatization revenues However, these reforms did not prove sufficient to avert Greece external debt crisis in 2010.

Criticism

George Alogoskoufis has been accused{{by whom?|date=January 2025}} of falsifying Greece's economical data during his tenure, an exercise referred to as "Greek Statistics", which led to the county's bankruptcy in 2010.{{citation needed|date=January 2025}}

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.[https://web.archive.org/web/20110717012838/http://www.thelondondailynews.com/greek-finance-minister-gets-pelted-with-eggs-p-1766.html]

Publications

Alogoskoufis is the author of seven 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”, Kritiki, 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), Livanis, Athens, 2002 (in Greek).
“Greece after the crisis”, Kastaniotis, Athens, 2009 (in Greek).
"International Economics and the World Economy", Gutenberg, Athens 2013 (in Greek)
"Dynamic Macroeconomics", MIT Press, Cambridge Mass. 2019

Publications in academic journals

The following is a selected list of journal articles by Alogoskoufis.{{cite web | title = Profile: George Alogoskoufis, publications | archive-url = https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/bio.php?version=en&id=69 | archive-date = 8 February 2012 | url = http://www.alogoskoufis.gr/bio.php?version=en&id=69 | website = alogoskoufis.gr | publisher = George Alogoskoufis }}

{{Cite journal | last = Alogoskoufis | first = George S. | title = Unanticipated money, output and prices in Greece | journal = European Economic Review | volume = 19 | issue = 2 |pages = 289–303 | doi = 10.1016/S0014-2921(82)80056-1 | date = 1982 | citeseerx = 10.1.1.694.2791 }} [https://web.archive.org/web/20120214201309/http://www.alogoskoufis.gr/uploads/files/2008021502036.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = The labour market in an equilibrium business cycle model | journal = Journal of Monetary Economics | volume = 11 | issue = 1 |pages = 117–128 | doi = 10.1016/0304-3932(83)90017-X | date = 1983 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021504009.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Pissarides | first2 = Christopher A. | title = A test of price sluggishness in the simple rational expectations model: U.K. 1950-1980 | journal = The Economic Journal | volume = 93 | issue = 371 | pages = 616–628 | doi = 10.2307/2232398 | jstor = 2232398 | date = September 1983 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021502055.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = Macroeconomic policy and aggregate fluctuations in a semi-industrialized open economy: Greece 1951–1980 | journal = European Economic Review | volume = 29 | issue = 1 |pages = 35–61 | doi = 10.1016/0014-2921(85)90037-6 | date = 1985 | citeseerx = 10.1.1.694.3264 }} [https://web.archive.org/web/20120214200650/http://www.alogoskoufis.gr/uploads/files/2008022000048.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = Aggregate employment and intertemporal substitution in the UK | journal = The Economic Journal | volume = 97 | issue = 386 | pages = 403–415 | doi = 10.2307/2232886 | jstor = 2232886 | date = June 1987 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021903035.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = On intertemporal substitution and aggregate labor supply | journal = Journal of Political Economy | volume = 95 | issue = 5 | pages = 938–960 | doi = 10.1086/261497 | jstor = 1833124 | date = October 1987 | citeseerx = 10.1.1.694.1985 | s2cid = 153748991 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021409059.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Manning | first2 = Alan | title = Wage setting and unemployment persistence in Europe, Japan and the USA | journal = European Economic Review | volume = 32 | issue = 2–3 |pages = 698–706 | doi = 10.1016/0014-2921(88)90218-8 | date = March 1988 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008022000031.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Manning | first2 = Alan | last3 = Calmfors | first3 = Lars | last4 = Danthine | first4 = Jean-Pierre | title = On the persistence of unemployment | journal = Economic Policy | volume = 3 | issue = 7 | pages = 427–469 | doi = 10.2307/1344492 | jstor = 1344492 | date = October 1988 | citeseerx = 10.1.1.694.4628 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008030302016.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = Monetary, nominal income and exchange rate targets in a small open economy | journal = European Economic Review | volume = 33 | issue = 4 |pages = 687–705 | doi = 10.1016/0014-2921(89)90020-2 | date = April 1989 | citeseerx = 10.1.1.694.4332 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021503033.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = Monetary policy and the informational implications of the Phillips Curve | journal = Economica | volume = 57 | issue = 225 | pages = 107–117 | doi = 10.2307/2554084 | jstor = 2554084 | date = February 1990 | citeseerx = 10.1.1.694.5464 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021504028.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = Traded goods, competitiveness and aggregate fluctuations in the United Kingdom | journal = The Economic Journal | volume = 100 | issue = 399 | pages = 141–163 | doi = 10.2307/2233599 | jstor = 2233599 | date = March 1990 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021506034.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Manning | first2 = Alan | title = Tests of alternative wage employment bargaining models with an application to the UK aggregate labour market | journal = European Economic Review | volume = 35 | issue = 1 |pages = 23–37 | doi = 10.1016/0014-2921(91)90101-N | date = January 1991 | citeseerx = 10.1.1.694.2790 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021505023.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = Reviewed Works: Keynes' Economics: Methodological Issues by Tony Lawson, Hashem Pesaran; Kaldor's Political Economy by Tony Lawson, J. Gabriel Palma, John Sender | journal = Economica | volume = 58 | issue = 230 | pages = 264–266 | doi = 10.2307/2554658 | jstor = 2554658 | date = May 1991 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008022002008.pdf Pdf.]
{{Cite journal | last = Alogoskoufis | first = George S. | title = Reviewed Work: Limiting Exchange Rate Flexibility: The European Monetary System by F. Giavazzi, A. Giovannini | journal = Economica | volume = 58 | issue = 230 | pages = 261–263 | doi = 10.2307/2554656 | jstor = 2554656 | date = May 1991 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008022000034.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Smith | first2 = Ron | title = The Phillips Curve, the persistence of inflation, and the Lucas Critique: evidence from exchange-rate regimes | journal = The American Economic Review | volume = 81 | issue = 5 | pages = 1254–1275 | publisher = American Economic Association | date = December 1991 | jstor = 2006916 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021501010.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = van der Ploeg | first2 = Frederick | title = On budgetary policies, growth, and external deficits in an interdependent world | journal = Journal of the Japanese and International Economies | volume = 5 | issue = 4 |pages = 305–324 | doi = 10.1016/0889-1583(91)90002-8 | date = December 1991 | s2cid = 154317537 | url = https://pure.uvt.nl/portal/en/publications/on-budgetary-policies-growth-and-external-deficits-in-an-interdependent-world(066c03d2-2211-4f00-8ce0-06d7d09ba5a2).html }}
{{Cite journal | last = Alogoskoufis | first = George S. | title = Monetary accommodation, exchange rate regimes and inflation persistence | journal = The Economic Journal | volume = 102 | issue = 412 | pages = 461–480 | doi = 10.2307/2234285 | jstor = 2234285 | date = May 1992 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021410029.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Philippopoulos | first2 = Apostolis | title = Inflationary expectations, political parties and the exchange rate regime: Greece 1958–1989 | journal = European Journal of Political Economy | volume = 8 | issue = 3 |pages = 375–399 | doi = 10.1016/0176-2680(92)90002-X | date = October 1992 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021903012.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Lockwood | first2 = Ben | last3 = Philippopoulos | first3 = Apostolis | title = Wage inflation, electoral uncertainty and the exchange rate regime: theory and UK evidence | journal = The Economic Journal | volume = 102 | issue = 415 | pages = 1370–1394 | doi = 10.2307/2234795 | jstor = 2234795 | date = November 1992 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021903014.pdf Pdf.]
{{citation | last = Alogoskoufis | first = George S. | contribution = On inflation, unemployment and the optimal exchange rate regime | editor-last = van der Ploeg | editor-first = Frederick | title = The handbook of international macroeconomics | publisher = Blackwell | location = Oxford, UK Cambridge, Massachusetts, USA | year = 1994 | isbn = 9780631190622 | postscript = .}}
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Helpman | first2 = Elhanan | last3 = Leiderman | first3 = Leonardo | last4 = Bufman | first4 = Gil | last5 = Grilli | first5 = Vittorio | title = A new breed of exchange rate bands: Chile, Israel and Mexico | journal = Economic Policy | volume = 9 | issue = 19 | pages = 259–306 | doi = 10.2307/1344497 | jstor = 1344497 | date = October 1994 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008022000054.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = van der Ploeg | first2 = Frederick | title = Money and endogenous growth | journal = Journal of Money, Credit and Banking | volume = 26 | issue = 4 | pages = 771–791 | doi = 10.2307/2077946 | jstor = 2077946 | date = November 1994 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008021903040.pdf Pdf.]
{{Cite journal | last1 = Alogoskoufis | first1 = George S. | last2 = Giavazzi | first2 = Francesco | last3 = Laroque | first3 = Guy | title = The two faces of Janus: institutions, policy regimes and macroeconomic performance in Greece | journal = Economic Policy | volume = 10 | issue = 20 | pages = 147–192 | doi = 10.2307/1344540 | jstor = 1344540 | date = April 1995 }} [https://web.archive.org/web/20120208171047/http://www.alogoskoufis.gr/uploads/files/2008022905033.pdf 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.