Crisis brain drain: short-term pain/long-term gain?

The emigration of professionals from Greece is a phenomenon that predates the current crisis. It is historically attributed to the low demand for highly skilled work in the Greek labour market and to related structural malfunctions of the Greek productive model of the past decades. Yet it is during the past few years that it has acquired alarming dimensions. In this chapter we explore the magnitude, dynamics and impacts of the phenomenon at times of crisis, recession and austerity. We further provide evidence on the aspirations and experiences of the emigrants themselves based on which we propose policies that could be implemented to alleviate its negative consequences.