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Article History

Received: 1 October 2021

Accepted: 21 February 2022

First Online: 22 March 2022

Declarations

:

: The authors have no competing interests.

: The input–output table data are available via the WIOD website,, while for the underlying concepts, construction methods and data sources, see Timmer et al. (). The used NIOTs describe 56 industries classified according to the International Standard Industrial Classification (ISIC Rev. 4);. However, the elements associated with industry U (“Activities of extraterritorial organizations and bodies”) are all equal to zero and, therefore, we remove this industry from our analysis. Thus, we derive NIOTs describing 55 industries, where the material inputs associated with industry T (“Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use”) are all equal to zero. The described industries are reported in Table : industries 1–3 belong to “Primary production”; industries 4–27 belong to “Industry”; and industries 28–55 belong to “Services”. According to data provided by the Socio-Economic Accounts (SEAs;), the percentage ratios between the “Number of employees (EMPE)” (in thousands) and the “Number of persons engaged (EMP)” in these three sectors are 19.6% (for both years of our analysis), 72.9% (2010)–74.2% (2014), and 73.0% (2010)–72.6% (2014), respectively; the ratios in the whole economy are 3150/4706 or 66.9% (2010) and 2625/3963 or 66.2% (2014). According to various studies, self-employment in the Greek economy (2008–2017) is around 35% and the highest in the European Union, where the average value is of the order of 14% (see, e.g. Protopapadakis,, and the references therein).The values in the NIOTs are expressed in millions of US dollars, whereas the values in the SEAs are expressed in millions of national currencies (in our case, in millions of euros); therefore, we use the market exchange rates (provided by the WIOD) for the conversion. Moreover, the matrix of “intermediate inputs (II)”, “gross output by industry at current basic prices (GO)”, and “labour compensation (LAB)” for the year 2014 are deflated by the “price levels of intermediate inputs (II_PI, 2010 = 100)”, “price levels of gross output (GO_PI, 2010 = 100)”, and “price levels of gross value added (VA_PI, 2010 = 100)”, respectively, which are provided by the SEAs. Finally, for the construction of the modelling variables (i.e. matrices of domestic and imported direct input coefficients, vector of direct employment requirements per unit of gross output, and “actual” real wage rates, profit rates, gross and net output vectors), (i) we identify the price vector for the year 2010 with, i.e. the physical unit of measurement of each product is that unit which is worth of a monetary unit (in the present NIOTs, the unit is set to 1 million US dollars); and (ii) we follow the usual, in the relevant literature, procedure (see, e.g. Mariolis, 2021c; Mariolis and Tsoulfidis, Chap. 3).