Discovering the factors for the impoverishment of the middle class in Greece

摘要

Afterwards 2009, Greece confront a sovereigndebt crisis. The harsh austerity that is imposed to the country has as a resulta severe recession. During this period, the Greek households have lostapproximately 30 per cent of their disposable income and the unemployment ratehas been dramatically increased and reached 27 per cent of the labour force(Giakoumatos and Karamesini, 2016).All the social classes are suffered by theimpoverishment of the Greek society, however the middle class has beendecimated during the economic crisis (Karamessini and Giakoumatos 2016). Inthis analysis, we focus on the investigation of the social mobility from themiddle class to the lower class since the beginning of the crisis. We deploygeneralized linear models to extended the model of Giakoumatos and Loukas(2017) by including interactions between the independent variables. As asdependent variable we use a dummy variable that takes 1 if a household belongto the of the middle class based the thresholds of 2014 and in the lower classbased to the thresholdsof 2008 (before the recession). The empirical analysisprovides the statistically significant demographic and social factors thataffect this type of social mobility.Keywords: Social Class, Disposal Income, Social Mobility,Logistic and Multinomial Models.