Building activity growth slowed in February, with a rise of 5.4 percent year-on-year, after an increase of 15.4 percent YoY seen in January, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Thursday.

Monetary policy asymmetrically affects the response of firms’ employment to an output shock and plays a role in cushioning employment adjustment over the business cycle. Combining annual firm-level data until 2020 with quarterly firm-level data until 2023 and high-frequency monetary policy surprises, we show that for a given change in output, monetary policy influences the extent to which firms hold on to labour, or “labour hoard”.

Parties across the political spectrum have offered their first reactions to ELAS, the new political vehicle of former PM Alexis Tsipras, whose launch on Tuesday has sent ripples through the landscape of Greek politics.

Three think-tanks are promoting curbs to rental growth — but that horse has already bolted