Greece smoking ban

A new law has come into force this week in Greece banning smoking in enclosed public spaces and tobacco advertising.

It is estimated that more than 40% of Greek adults smoke - well above the EU’s average of 29% - which is perhaps why at a time of fiscal austerity, it is surprising/impressive that the Greek government have pursued this policy. Cigarettes bring in a significant amount of tax revenue (either via indirect or corporation taxes) which will be lost. But then maybe it will save a lot more money via its health bill. (or maybe they are just hoping people will flaunt the rules and collect fines!).

Having said this, this latest attempt to stop smokers, is its 4th attempt in a decade - following a tobacco ban in public places on July 1 of this year too. The demand for habit-forming goods is too inelastic to go away overnight…

Unit 2 Macro: Cyclical and Structural Economic Issues Facing the UK [23 May 2012]
Unit 2 Macro: Positive and Negative Multiplier Effects [20 May 2012]
Unit 2 Macro: The Importance of Productivity [20 May 2012]
Q&A: What do we need to know about output gaps? [20 May 2012]
Unit 2 Macro: The Output Gap [20 May 2012]
Unit 1 Micro: Revision Presentation on Elasticity of Demand [16 May 2012]
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Unit 1 Micro: Income Elasticity of Demand [13 May 2012]
Unit 1 Micro: Price Elasticity of Demand [13 May 2012]
Unit 2 Macro: Aggregate Demand Glossary [5 May 2012]
Macro Revision - Key Statistics on the UK Economy [4 May 2012]
Unit 1 Micro: Using the Cost-Benefit Principle [30 Apr 2012]
Macro Revision: Putting Things in Context [29 Apr 2012]
Unit 1 Micro: Ban on cigarette display advertising [12 Apr 2012]
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Unit 1 Micro: Revision on Elasticity of Demand (for Rice) [3 Apr 2012]
Unit 1 Micro: Revision on Maximum Rents in Housing [1 Apr 2012]
Unit 1 Micro: Revision on Producer Cartels [31 Mar 2012]
Unit 4 Macro: Evaluating 3 Years of Quantitative Easing [27 Mar 2012]
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Martin Wolf on Global Shocks [10 Feb 2012]
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Unit 2 Macro: Focus on China - Per Capita Incomes [26 Jan 2012]
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AS Macro: The State of British Business [13 Nov 2011]
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Unit 2 Macro: Economic Importance of Investment [19 Oct 2011]
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Unit 1 Micro: Homework Assignment on Market Prices [2 Oct 2011]
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Unit 1 Micro: Exercise on Equilibrium Market Prices [27 Sep 2011]
Unit 1 Micro: Exercise on Market Demand [25 Sep 2011]
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Unit 1 Micro: FirstBuy, Affordability and Effective Demand in Property [10 Jul 2011]
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AS Macro Key Term: Recession [23 May 2011]
AS Macro Key Term: Spare Capacity [23 May 2011]
A2 Micro: The Importance of Profit [19 May 2011]
A2 Micro: High and Low Marginal Cost Products [19 May 2011]
A2 Micro: Examples of Price Discrimination [19 May 2011]
Unit 3 Micro: Perfect Competition [19 May 2011]
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A2 Micro: Innovation and Economic Policies [18 May 2011]
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