This paper modifies the income determination model to focus on two viable policies that would raise income in Greece with the government facing sizeable interest and debt payments. The usual macroeconomic policy options are unavailable in the Euro Zone with the balanced budget constraint, outside currency and fixed interest rate. On the monetary side, banking policy reform would eliminate bank account restrictions and mandatory purchase of government bonds. On the real side, investment policy reform would streamline the rent seeking bureaucracy. Together these policy reforms lead to income overshooting with a transitory trade surplus raising the money supply.

中文翻译：

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欧元区希腊的收入确定模型

本文修改了收入确定模型，将重点放在两项可行的政策上，这些政策将提高希腊的收入，而政府将面临巨额的利息和债务支付。在平衡预算约束、外部货币和固定利率的欧元区，通常的宏观经济政策选择是不可用的。在货币方面，银行政策改革将取消银行账户限制和强制购买政府债券。在现实方面，投资政策改革将简化寻租官僚机构。这些政策改革共同导致收入超调，暂时的贸易顺差增加了货币供应量。