The long-run demographic consequences of the economic crisis

The Greek economy went off the rails in 2009 with a large fiscal deficit, an external current account deficit, a drop in productivity, and a jump in public debt. The ensuing crisis burst onto the international scene in 2010 with the beginning of a series of economic programs with partner countries, European institutions, and the IMF, to try and steady the listing economic ship. Eight years later we can summarize that national income collapsed by about a quarter, the unemployment rate peaked at 27.5 percent, and the country went through significant political and social turmoil. In more recent years, with stops and starts, the economy has begun to level off and stabilize. We are now in the "second 5-year period" (2016-2020) of this crisis decade, and some interesting data from the first 5-year period are starting to settle down as well, so that we can begin a reflection about the...