NEWSLETTER - SPRING 2021

    Newsletter of the Department of Economics
    Spring 2021
    Editorial

    The Department of Economics aims at maintaining research and teaching standards at the highest level. It covers a wide range of economic studies in micro-and macroeconomic analysis, corporate finance and financial markets, public and monetary economics, international and rural economics, industrial organization and strategy, economics of the environment and natural resources, economic history and relevant quantitative tools of mathematics, statistics and econometrics. 

    The Department is the oldest Department of Economics in Greece with a pioneering role in organising postgraduate studies in Economics since 1978. Its priority has always been to bring together highly qualified academic staff and top quality students. Faculty members specialise in a wide range of topics in economics, with experience in some of the most internationally prominent universities and publications in top academic journals.
     
    The undergraduate program attracts high quality students who, after successful completion of their studies, face excellent prospects for employment in  the private and public sector, including areas such as business administration, banking, finance and advisory services. Also, graduates of the program have solid foundations in economics and related tools that are normally required for admission to top graduate programs internationally. 

    The graduate programs of the Department are highly regarded and attract a large number of quality candidates every year.

    The current newsletter offers an update of recent activities of the Department of Economics and its members, highlighting its continuing impact on both teaching and research in Economics.

    George Alogoskoufis
    Head of the Department of Economics
    Athens University of Economics and Business

    June 17, 2021
    Events and Conferences Highlights
    Online Lecture by Professor Philip R. Lane

    Professor Philip R. Lane, Member of the Executive Board of the European Central Bank, will give an online lecture on "Resilience of the Euro" on 22 June, 2021 at 17:00. The lecture will be followed by a general discussion which will be moderated by Professor George Alogoskoufis.

    The discussion will be initiated by Professors Helen Louri, Plutarchos Sakellaris and Nikos Vettas from the Department of Economics of AUEB.

    Live streaming will be available on: https://www.youtube.com/watch?v=u9ihmLZbbNA

    Forthcoming EMOP Conferences

    The Department, through it Laboratory of Economic Policy Studies (EMOP), is organising two one day conferences in the fall semester of the Academic Year 2021-2022.

    The first one will be on Greece and the Euro, on the occasion of 40 years since the accession of Greece in the EU.

    The second will be on Lessons from the Economic History of Modern Greece, on the occasion of 200 years since the Greek Revolution of 1821.

    Both conferences will bring together top academics from Greece and abroad. More information will follow.
    19th CONFERENCE on RESEARCH on ECONOMIC THEORY & ECONOMETRICS

    AUEB’s Department of Economics supports the organization of the 19th Conference on Research on Economic Theory and Econometrics (CRETE) at the Ursuline School of Naxos, Greece, July 12-16, 2021. CRETE is an annual summer school-conference, covering a variety of themes in economic theory and econometrics. The first meeting took place in 2002. A central goal of this series of events is to support the interaction and collaboration among doctoral candidates and other junior researchers with more senior academics from Greece and abroad.

     For more information click here 

    Honorary Doctorates

    Following a proposal by the Head of Department, Prof. George Alogoskoufis, the Department decided to award the title of Honorary Doctor of the Department of Economics of the Athens University of Economics and Business to,

    • Barro, Robert, Professor at Harvard University, for his overall contribution to Macroeconomics
    • Blanchard, Olivier, Emeritus Professor at the Massachusetts Institute of Technology, for his overall contribution to Macroeconomics
    • Blundell, Richard, Professor at University College, London, for his overall contribution to Microeconomics

    The new honorary doctorates have been approved by the Senate of the University and will be awarded during the academic year 2021-2022.
    External Evaluation of the Department of Economics

    The External Evaluation of the Department of Economics was undertaken by ADIP (the HELLENIC QUALITY ASSURANCE AND ACCREDITATION AGENCY) on the 1st and 2nd of July 2019. The evaluation was conducted by Professor Chari Jannis Angelis (KTH Royal Institute of Technology), Professor Nikolaos Georgantzis (Burgundy School of Business), Associate Professor Vasileios Zervos (ISU and University of Strasbourg), Professor Ioannis Violaris (City Unity College Nicosia, Cyprus), and Mr Vasileios Samoutis (Economic Chamber of Greece). The Panel confirmed the very high standing of the Undergraduate Study Programme, where the Department attained "full compliance" in 10 out of 10 key Principles.
    Selected News and Announcemnts
    Alumni

    AUEB's Department of Economics invites its graduates to join the new platform alumni.aueb.gr

    Postgraduate Studies

    The Department of Economics of the Athens University of Economics & Business (AUEB) pioneered in organising postgraduate studies in Economics in Greece since 1978, both at the Master’s and doctoral level. During its long history, the Department has trained highly-qualified economists, many of whom now hold academic and research positions in universities and research institutes or occupy high level managerial positions both in Greece and abroad.

    The postgraduate programs of the Department are highly regarded and attract a large number of quality candidates every year. The Department offers:

    The Department of Economics also co-organises the following four inter-departmental Master’s Programs, jointly with the Department of International & European Economic Studies - DIEES.

    The flagship PhD program of the Department aims to prepare candidates wishing to pursue an academic or research-oriented career in the public and business sector. Our Department is a pioneer in organizing doctoral studies in Economics in Greece. Graduates of the Program are currently serving as faculty members at universities in Greece and abroad, and are employed at research institutes such as the Centre of Planning and Economic Research (KEPE), at the Hellenic Statistical Authority (ELSTAT), Bank of Greece, and Ministries as senior executives, in private banks and other public and private organizations.

    Awards and Distinctions

    Professor George Alogoskoufis was awarded the Certificate of Achievement of the journal Economica for his paper on “The Clash of Central Bankers with Labor Market Insiders, and the Persistence of Inflation and Unemployment” that was published in January 2018 and emerged as one of the journal's top downloaded recent papers.

    Assistant Professor Spyros Pagratis received the Outstanding Teaching Performance Award of the Department of Economics for the undergraduate course in Corporate Finance, for the year 2018-2019. He also received the Teaching Excellence Award of MBA International for the elective graduate course in Corporate Finance, for the year 2018-2019.

    Emeritus Professor Ioanna Sapfo Pepelasis was the President of the Evaluation Committee of the 27th economia Student Contest with the topic “The new Greek business environment: startups, openness, innovation”. For the 27th consecutive year, economia Group and the Greek economic magazine Οikonomiki Epitheorisi organized successfully this important contest.


    PhD candidate Anastasia Chatzilena received the student award for the best paper in the 11th International Biometric Society's conference for her paper "A modelling framework for the analysis of the transmission of  SARS-CoV-2 in Greece". Here is short summary of her research.
    Recent Recruits

    Petros Varthalitis joined the Department of Economics of Athens University of Economics and Business in March 2021. He is a Research Affiliate at the Economic and Social Research Institute (Ireland).
    Previously, he held posts at the Economic and Social Research Institute (Ireland), University of Glasgow and the Scottish Fiscal Commission (Scotland, UK). He was a visiting scholar at the Central Bank of Greece.
    His main research areas are theoretical and applied macroeconomics. His research interests include fiscal and monetary policy in DSGE models (open and closed economy), fiscal and currency unions, debt consolidation, fiscal and public sector reforms.

    His academic research has been published in peer-reviewed international academic journals such as Journal of Economic Dynamics and Control, International Journal of Central Banking, International Journal of Forecasting, CESifo Economic Studies, the Manchester School and Economic Modelling and in edited books such as Cambridge University press and MIT press. His applied research on economic policy has contributed to policy-making institutes such as the Economic and Social Research Institute and the Scottish Fiscal Commission. Finally, he has worked on the macro-modelling units where he has developed (mostly) DSGE models for policy analysis.
    He holds a PhD in Economics from Athens University of Economics and Business and a M.Sc. in Economics from University College London, London, UK.

    Representative Publications:

    • Public debt consolidation and its distributional effects, (with S.Sakkas), The Manchester School, forthcoming.
    • How openness to trade rescued the Irish economy, (with K. McQuinn). In: Structural Reforms and Economic Growth in Europe, Nauro Campos, Paul De Grauwe and Yuemei Ji (Eds).Cambridge University Press (2020).
    • Predicting default risk under asymmetric binary link functions, (with Y.Dendramis, E.Tzavalis and E. Athanasiou), International Journal of Forecasting (2020), 36, 3, pp: 1039-1056.
    • Fiscal consolidation and its cross-country effects, (with A. Philippopoulos and V. Vassilatos), Journal of Economic Dynamics and Control (2017), 83, pp: 55-106, 2017.
    • Fiscal consolidation in an open economy with sovereign premia and without monetary independence, (with A.Philippopoulos and V.Vassilatos), International Journal of Central Banking (2017), 13, 4, pp: 259-306.
    Research Grants

    Fabio Antoniou

    • Research Grant EL.ID.E.K., for research on “The Origins of State Capacity and its Implications on the Contemporary Economy and Economic Policy", 2020-2022.
    • Research Grant Drasi I, for research on "International Spillovers and Environmental Regulation"

    Stylianos Arvanitis
    Research Grant EL.ID.E.K., jointly with Nikolas Topaloglou, for research on “Statistical Tests for Stochastic Dominance and Stochastic Spanning and Applications in Finance and Economics”, 2020-2022.

    Konstantinos Florios
    Research Grant EL.ID.E.K., for research on “Heuristic and Exact Real-integer Optimization Methods in Discrete Choice Analysis (HEROIDA)”, 2020-2022.

    Christos Genakos
    Research Grant from the London School of Economics' Hellenic Observatory, jointly with Dr Ioannis Kaplanis (AUEB), Dr Anggelos Tsakanikas (NTUA) and Theano Maria Tagaraki (AUEB), for research on "Crisis and Entrepreneurship: business dynamics, firm level, sectoral and regional determinants", 2020-2022.

    Apostolis Philippopoulos
    Research Grant from the London School of Economics’ Hellenic Observatory, jointly with George Economides, for research on “Economic Growth in Greece: Barriers to, and Engines of, Growth”, 2019-2020.

    Elias Tzavalis
    Researh Grant EL.ID.E.K., jointly with Dimitrios K. Christopoulos and Yannis Dendramis, for research on "Dealing with the Problem of Endogeneity in Threshold Models", 2020-2022.

    Research Grant by Alpha Bank, jointly with Konstantine Gatsios, and Yannis Dendramis, for research on "Modelling Credit Risk for Consumer and Small Business Loans", 2017-2020.

    Research Grant by the European Social Fund through the Operational Programme "Human Resources Development, Education and Lifelong Learning'', jointly with Leonidas Rompolis, Ioannis Papantonis and Orestis Agapitos, for research on "Forecasting  higher moments with Autoregressive Conditional Density Models"
    Research
    Research Highlights

    Recent Working Papers
    Recent PhDs
    RECENT PhDs GRADUATION DATE THESIS TITLE SUPERVISOR
    Ilias Nikolaos 20-01-21 Essays on the forward premium bias E. Tzavalis
    Dimas Athanasios 02-12-20 Essays on Applied Microeconomics Ch. Genakos
    Giakas Konstantinos 02-12-20 Essays on Market Frictions and Aggregate Fluctuations G. Alogoskoufis
    Liontos Georgios 02-12-20 Essays on Optimal Taxation A.Philippopoulos
    Vidali Maria 02-12-20 Essays on Productivity and Firm Performance A. Demos
    Karadima Maria 01-07-20 Essays on the evolution and determinants of non-perfoming loans (NPLs) in the euro area E. Louri
    Makri Galateia 01-07-20 Essays in Competition Policy Enforcement and its Impact on Economic Performance I. Katsoulacos
    Smyrankis Dimitrios 01-07-20 Human Capital and Economic Growth E. Tzavalis
    Paravalos Evangelos 01-07-20 Topics in Bayesian Econometrics E. Tzavalis
    Sarri Danai 03-06-20 Measuring managerial skill in the Mutual Fund industry: A Stochastic Dominance based Approach S. Arvanitis
    Giannoulakis Stylianos 03-06-20 Essays on Firm Dynamics and Macroeconomics Pl. Sakellaris
    Bertsatos Georgios  04-03-20 Essays on Banking Valuation Pl.Sakellaris
    Dimakopoulou Vasiliki-Eirini 06-02-19 Financial frictions and economy policy A.Philippopoulos
    Roubanis Eleftherios-Theodoros 14-06-19 Aggregate and distributional implications of fiscal consolidation in general equilibrium A.Philippopoulos
    Sachtachtinskagia Sabina 14-06-19 Essays on technology transfer and vertical relations in markets N.Vettas
    Benetatou Kalliopi 04-09-19 Essays in Optimal Competition Policy Enforcement Standards I. Katsoulakos
    Christou Tryfonas 04-12-19 Quality of institutions and macroeconomic performance E.Vasilatos
    Stavrakas Michail 24-09-18 Essays on Fiscal Policy A.Philippopoulos
    Kyrkopoulou Eleni 24-09-18 Essays on Immigration and Crime Th.Palivos
    Papadopoulos Alexandros (Alecos)
    personal webpage    		 07-11-18 The Two-tier Stochastic Frontier Framework (2TSF): Theory and Applications, Models and Tools. Pl.Sakellaris
    Research Seminars

    This weekly seminar series is organized jointly by the Department of International and European Economic Studies and the Department of Economics of the Athens University of Economics and Business (AUEB).

    Seminars are held on Thursdays, 3:30-4:45 pm in room A36, 3rd floor, Antoniadou Building, Patission 76 (unless otherwise noted).

    The following speakers were invited during the academic year 2020-21

    • Athanasiou, E., The New Economic School, “Binary public decisions and undominated mechanisms”
    • Dosis, A., ESSEC Business School, “The Ownership of Data”
    • Kyriakopoulou, E., Swedish University of Agricultural Sciences, "On the design of sustainable cities: Local traffic pollution and urban structure"
    • Emvalomatis, G., University of Dundee, "Biased technical change: An empirical investigation of recent developments"
    • Fotis, P, Hellenic Competition Commision, "On the effectiveness of Settlement Procedure in making Cartels collapse"
    • Kyrkopoulou, E., Athens University of Economics and Business, "Education policy gone bad: peer effects from transfer students"
    • Lane, P. R., Member of the Executive Board of the European Central Bank, "Resilience of the Euro" 

    Moreover, in collaboration with Department of Economics of the University of Cyprus and the Department of International and European Economic Studies, our department hosted the joint UCy-AUEB webinar in economic research. The goal was to bring together "socially distanced" economists from Greece, Cyprus, and abroad and expose them to state-of-the-art research presented by experts in various fields of economics. The following speakers were invited in this webinar series:

    • Pissarides, C., LSE and University of Cyprus, "Productive Robots and Employment: The Role of National Innovation Systems"
    • Miranda-Agrippino, S., Bank of England, "When Creativity Strikes: News Shocks and Business Cycle Fluctuations"
    • Canova, F., BI Norwegian Business School, "FAQ: How do I extract the output gap?"
    • Kapetanios, G., King's College London, "ss-section DependenceTesting the Adequacy of the Fixed Effects Estimator in the Presence of Cro" 
    • Michalopoulos, S., Brown University, "Folklore" 
    • Lockwood, B., University of Warwick, "The Effects of Social Capital on Government Performance and Turnover: Theory and Evidence from Italian Municipalities"
    • Mavroeidis, S., University of Oxford, "Identification at the Zero Lower Bound"
    • Scaillet, O., GFRI and Swiss Finance Institute, "Skill, Scale, and Value Creation in the Mutual Fund Industry" 
    • Karantounias, A., School of Economics, University of Surrey,  "A general theory of tax-smoothing"

    Papers and Research Seminars Announcements are posted at
    https://dept.aueb.gr/en/econ/content/research-seminar-series

    Jean Monnet Seminar Series

    During  the last 24 academic years the late Professor Emeritus and European Jean Monnet Chair, George D. Demopoulos had been conducting the Jean Monnet Seminar Series  for students at  AUEB,  a significant  multidisciplinary forum, in which Professors of Greek Universities , prominent financial system officials and European Commission officials presented  part of their research work.

    On 9-3-2019, after  the first two (2) extremely successful Seminars (with approx.  350 people) the postponement of the Series was announced. The decision was based on the health measures to limit the spread of the Covid-19 pandemic, as the safety and health of speakers, participating students and staff was and always is AUEB’s  highest priority. In accordance with the relevant guidance received, all training activities such as Workshops, Seminars, Conferences, etc. were suspended. You can find the last program of the Series in Greek here.

    On 9/11/2020, the sudden loss of George D. Demopoulos  was announced and the  Seminars Series  was suspended.

      PH.D. Candidates

      The PhD candidates of the department of Economics can be found here.

      Recent Publications of PhDs, PhD Candidates, Postdoctoral Researchers

      Kalliopi Benetatou

      • “Competition Policy and Labor Productivity Growth: Some new evidence”(with Katsoulacos, Υ., Kyriazidou, Ε. and Makri, G.), Empirical Economics, 2019.

      Georgios Bertsatos

      Anastasia Chatzilena

      Vasiliki Eirini Dimakopoulou

      • "The Greek great depression 2009-2016 and the role played by the ECB", (with Economides, G and Philippopoulos, A), forthcoming in Alogoskoufis, G. and Featherstone, K., Greece and the Euro: From Crisis to Recovery, Hellenic Observatory, London School of Economics, 2021.
      • "Stationarity-inducing techniques in small open economy models with collateral constraints", forthcoming in Open Economies Review.

      Stelios Giannoulakis

      • "Financial crises, firm-level shocks, and large downturns: Evidence from Greece"(with Sakellaris, P), International Journal of Finance and Economics, 2021, forthcoming.

      Μaria Karadima

      • “Economic policy uncertainty and NPLs: The moderating role of bank concentration” (with Louri, H.), 2021, Finance Research Letters, vol 38.
      • “Reply to Remarks on Bank Competition and Convergence Dynamics” (with Louri, H.), 2020, Journal of Risk and Financial Management, 13 (127), 1-6.
      • “Bank competition and credit risk in euro area banking: Fragmentation and convergence dynamics” (with Louri, H.), 2020, Journal of Risk and Financial Management, 13 (57), 1-28.
      • “Bank competition and credit risk in the euro area, 2005-17: Is there evidence of convergence?” (with Louri, H.), 2020, LEQS Papers 155, LSE.
      • “Non-performing loans in the euro area: Does market power matter?” (with Louri, H.), Bank of Greece Workimg Paper, 2019, no 271.

      George Labrinidis

      • The Euro as imperialist money, in Darian Meacham and Nicolas de Warren (eds) Handbook of Europe and Philosophy, Routledge, 2021.
      • Productive restructuring of industrial capital, Research Papers, IME/GSEVEE, 21/2001, Athens: IME/GSEVEE, 2021.
      • Financial instruments for the support of SMEs: the case of the Entrepreneurship Fund (with Argyriou, T. and Rekkas, T.), in Manos Apostolopoulos and Manos Papazoglou (eds) The impact of EU Structural and Investment Funds on Greece (1981-2019): Successes, failures, lessons learned and comparisons with other EU members, Jean Monnet Centre of Excellence Governance, University of the Peloponnese.

      Galateia Makri

      • “Competition Policy and Labor Productivity Growth: Some new evidence” (with Benetatou, K., Katsoulacos, Y. and Kyriazidou, E.), Empirical Economics, 2019.
      • “Antitrust Enforcement in Europe in the Last 25 Years: Developments and Challenges” (with Metsiou, E.), The Review of Industrial Organization, 2019.

      Eleni Metsiou

      • “Antitrust Enforcement in Europe in the Last 25 Years: Developments and Challenges” (with Makri, G.), The Review of Industrial Organization, 2019.

      Alecos Papadopoulos

      • "The two-tier stochastic frontier framework (2TSF): measuring frontiers wherever they may exist." in Sickles R. and C.F. Parmeter (eds) "Advances in Efficiency and Productivity Analysis", Springer,163-194, 2019.

      Stelios Sakkas

      Panagiotis Skartados

      • "Strategic profit-sharing in a unionized differentiated goods oligopoly" (with Petrakis, E.), Canadian Journal of Economics (2021), 54 (2).
      • "Partial passive ownership holdings and licensing" (with Leonardos, S, Petrakis, E. and Stamatopoulos, G), Economics Letters (2021), 204C.
      • "Product Innovation transfer under passive partial ownership holdings" (with Papadopoulos, K.and G., Petrakis, E.), Economics Letters 177, 22-25, 2019.
            Recent Publications

            George Alogoskoufis

            • Unemployment Persistence, Inflation and Monetary Policy in a Model of Nominal Wage Contracts and Staggered Pricing, (with Stelios Giannoulakis), Working Paper (forthcoming).
            • "Asymmetries of Financial Openness in an Optimal Growth Model”, Journal of Economic Asymmetries, June 2021, 23, forthcoming.
            • Historical Cycles of the Economy of Modern Greece: From 1821 to the Present, Working Paper no. 1-2021, Department of Economics, Athens University of Economics and Business (also, GreeSE Paper no.158, Hellenic Observatory, London School of Economics).
            • "The Euro @20: How Economic and Financial “Asymmetries” Marred the Promise of the Single Currency" (with Laurent Jacque), Journal of Applied Corporate Finance, (Fall 2020), 32 (4), 90-104.
            • Before and After the Euro, Gutenberg, Athens (in Greek).
            • Dynamic Macroeconomics, MIT Press, Cambridge MA (2019).
            • “Greece and the Euro: A Mundellian Tragedy”, CGK Working Paper no. 2019-01, Fletcher School, Tufts University (April 2019) (also GreeSE Paper no.136, Hellenic Observatory, London School of Economics (May 2019).
            • “Economic and Financial Asymmetries in the Euro Area” (with Laurent Jacque), CGK Working Paper no. 2019-02, Fletcher School, Tufts University (April 2019).

            Fabio Antoniou

            • "Tax Competition in the Presence of Environmental Spillovers" (with P. Hatzipanayotou, M. S. Michael and N. Tsakiris), International Tax and Public Finance, forthcoming.
            • "On The Strategic Effect of International Permits Trading on Local Pollution (with E. Kyriakopoulou), Environmental and Resource Economics, 2019, 74 (3): 1299–1329.
            • "Strategic Inventories under Limited Commitment" (with R. Fiocco) RAND Journal of Economics, 2019, 50 (3): 695-729.
            • "Destination vs. Origin-based Commodity Taxation in Large Open Economies with Unemployment" (with P. Hatzipanayotou and N. Tsakiris), Economica, 2019, 86 (1): 67-86.

            Stylianos Arvanitis

            • "Stochastic Dominance Efficient Sets and Stochastic Spanning", 2021, Decisions Econ Finan. https://doi.org/10.1007/s10203-021-00325-y
            • "Diversification Benefits in the Cryptocurrency Market under Mild Explosivity" (with Anyfantaki, S. and Topaloglou, N.), 2021, European Journal of Operational Research. https://doi.org/10.1016/j.ejor.2021.02.058
            • "Stochastic Bounds for Reference Sets in Portfolio Analysis" (with Post, S.and Topaloglou, N.), 2021, Management Science. https://doi.org/10.1287/mnsc.2020.3838
            • "Nonparametric Tests for Optimal Predictive Ability" (with Post, T., Potì, V. and Karabati, S.), 2021, International Journal of Forecasting, 37(2), 881-898. https://doi.org/10.1016/j.ijforecast.2020.10.002
            • "Stochastic Bounds for Reference Sets in Portfolio Analysis" (with Post,T.and Topaloglou, N.), 2020, forthcoming in Management Science, https://ssrn.com/abstract=3181869.
            • "Nonparametric Tests for Superior Predictive Ability" (with Karabati, S., Post,T. and Potì, V.), 2020. Available at SSRN: https://ssrn.com/abstract=3251944 or http://dx.doi.org/10.2139/ssrn.3251944.
            • "Spanning analysis of stock market anomalies under Prospect Stochastic Dominance" (with Scaillet, O. and Topaloglou, N.), 2020, Swiss Finance Institute Research Paper No. 20-18. Available at SSRN: https://ssrn.com/abstract=3569755 or http://dx.doi.org/10.2139/ssrn.3569755.
            • "On the limit theory of the Gaussian SQMLE in the EGARCH(1,1) model. J. Time Ser. Anal." (with Anyfantaki, S.), 2020, 41: 341-350. doi:10.1111/jtsa.12494.
            • “Spanning Tests for Markowitz Stochastic Dominance” (with Scaillet, O. and Topaloglou, N.), Journal of Econometrics, 2019, ISSN 0304-4076, https://doi.org/10.1016/j.jeconom.2019.12.005.
            •  “Robust Optimization of Forecast Combinations” (with Post, T. and Karabatı, S.), International Journal of Forecasting, 2019, Vol. 35(3), 910-926.
            • “Stable limit theory for the Gaussian QMLE in a non-stationary asymmetric GARCH model”, Statistics & Probability Letters, Vol. 145, 166-172.
            • “Portfolio optimization based on stochastic dominance and empirical likelihood” (with Post, T. and Karabatı, S.), Journal of Econometrics, 2018, Vol. 206(1), 167-186.
            • “Stochastic Spanning” (with Hallam, M., Post, T., and Topaloglou, N.), 2019, Journal of Business & Economic Statistics, 37(4), 573-585.

            Konstantinos Florios

            • "Εxact computation of censored least absolute deviations estimator" (with Bilias,Y.and Skouras, S.), Journal of Econometrics, 212 (2019), 584-606.

            George Bitros

            • “The battle of Salamis and the future of democracy”, forthcoming in a Conference Volume edited by Nickolas C. Kyriazis, Athanasios Platias, Emmanuel L. M. Economou.
            • Destabilizing asymmetries in central banking: With some enlightenment from money in classical Athens,” Journal of Economic Asymmetries, 23, 2021, e00199.
            • “Demand Adjusted Capital Input and Potential Output in the Context of U.S. Economic Growth”, Journal of Economic Asymmetries, June 2020, Vol.21, Article e00140.
            • “Σύντομη αναφορά στον Samuelson,” Ξενοφών, 68-78, 2019.
            • Democracy and money: Lessons for today from Athens in classical times, in collaboration with Emmanouil M. L. Economou and Nicholas C. Kyriazis, Routledge. https://www.routledge.com/Democracy-and-Money-Lessons-for-Today-from-Athens-in-Classical-Times/Bitros-Economou-Kyriazis/p/book/9780367509170

            Yiannis Dendramis

            • Estimation of time-varying covariance matrices for large datasets, with Liudas Giraitis and George Kapetanios, Econometric Theory, 2021. doi: https://doi.org/10.1017/S0266466620000535
            • A similarity‐based approach for macroeconomic forecasting, with George Kapetanios, and Massimiliano Marcellino, Journal of the Royal Statistical Society: SA, 2020, doi: 10.1111/rssa.12574
            • "Predicting default risk under asymmetric binary link functions" (with Tzavalis, E., Varthalitis, P. and Athanasiou, E.), 2020, International Journal of Forecasting,36(3), 1039-1056.
            • “Understanding technology ownership to reveal adoption trends for energy efficiency measures in the Greek residential sector”( Spyridaki Niki-Artemis, Stavrakas, V. and Flamos, A), 2020, vol.140.
            • The Single Supervisory Mechanism and its implications for the profitability of European Banks, with Ioanna Avgeri and Helen Louri, WP Bank of Greece. https://www.bankofgreece.gr/Publications/Paper2020284.pdf
            • Bank profitability in the euro area: The asymmetric effect of common supervision, with Ioanna Avgeri and Helen Louri, to appear in LEQS, WP no. 170.

            Evangelos Dioikitopoulos

            • “Dynamic Status Effects, Savings and Income Inequality” (with Turnovsky, S. and Wendner, R.), 2020, International Economic Review.
            • Roads to Prosperity without Environmental Poverty: The Role of Impatience and Fiscal Policy (with Karydas, C., Ghosh, S. and Vella, E., 2020, Economics Letters.

            Christos Genakos

            • “Generalized linear competition: From pass-through to policy”(with Grey, F. and Ritz, R) submitted.
            • “Is Having an Expert Friend Enough? An Analysis of Consumer Switching Behaviour in Mobile Telephony” (with Roumanias, C. and Valletti, T.), submitted.
            • “Exploring the Long-Term Impact of Maximum Markup Deregulation”(with Dimas, A.), ANNALS Belgrade Law Review, 2020, Volume 68, Issue 4, pp. 5-29.
            • “The European Framework for Regulating Telecommunications – a 25-year appraisal” (with Cave, M. and Valletti, T.), Review of Industrial Organization, 2019, Vol.55, 47-62.
            • “Competition and Pass-Through:Evidence from Isolated Markets” (with Pagliero, M.), CEPR,CEP,SSRN working papers, 2019 (also, American Economic Journal: Applied Economics, forthcoming).

            Ioannis Katselidis

            • The Μarkets’ Εvaluation Τriangle (with George Daflos and Stelios Fetanis), International Journal of Social Economics, 47, No. 12, pp. 1499-1512, 2020.Institutions, Policy and the Labour Market: The Contribution of the Old Institutional Economics, Economic Thought (2019), 8 (2), 13-30.
            • Classical and Pre-Marginalist Ideas on the Relationship between Economics and Psychology (with Stavros Drakopoulos), History of Economic Ideas (2019), XXVII (1), 43-63.

            Ioannis Katsoulacos

            • “Comparing the role of economics/effects-based in antitrust enforcement and its relation to the judicial review in the EC to other countries" (with Avdasheva, S., Golovaneva, S., Benetatou, K. and Makri, G.), The Journal of European Competition Law & Practice, 2021.
            • “Optimal Legal Standards for Competition Policy Further Revisited” (with David Ulph), Economics Letters, 2020.
            • “The role of economics and the type of legal standards in antitrust enforcement by DGCOMP: an empirical investigation” (with Galateia Makri), Journal of Antitrust Enforcement, 2020. Article selected as Editors’ Choice.
            • “Combining Cartel Penalties and Private Damage Actions: The Impact on Cartel Prices”, (with Evgenia Motchenkova and David Ulph), International Journal of Industrial Organization, 2020.
            • “Penalising Cartels – A Spectrum of Regimes” (with Motchenkova, E. and Ulph, D.) Journal of Antitrust Enforcement, 2019.
            • “Penalizing on the basis of the severity of the offence: A sophisticated revenue-based cartel penalty” (with E Motchenkova and D Ulph), Review of Industrial Organization, 2019.
            • “The role of judicial review in developing evidentiary standards: the example of market analysis in Russian competition law enforcement” (with Avdasheva S. and Golovanova, S.), International Review of Law & Economics, 2019.
            • “On the Choice of Legal Standards: a Positive Theory for Comparative Analysis”, European Journal of Law and Economics, 2019.
            • “On the Concepts of Legal Standards and Substantive Standards (and how the latter influences the choice of the former)”, Journal of Antitrust Enforcement, 2019.
            • “Antitrust Enforcement in Europe in the Last 25 Years: Developments and Challenges” (with Makri, G and Metsiou, E.), The Review of Industrial Organization, 2019.
            • “Competition Policy and Labor Productivity Growth: Some new evidence” (with Benetatou K., K Kyriazidou and G Makri), Empirical Economics, 2019.
            • “Public and private antitrust enforcement for cartels: should there be a common approach to sanctioning based on the overcharge rate?" (with Motchenkova E. and D Ulph), Journal of Contemporary Economics (Revista de Economia Contemporanea), 2019.

              Aikaterini Kyriazidou

              • “Competition Policy and Labor Productivity Growth: Some new evidence,” (with Benetatou, K., Kasoulakos, Y. and Makri, G.), Empirical Economics, 2019, DOI: 10.1007/s00181-019-01656-x.
              • “Panel Vector Autoregressions with Binary Data,” (with Honoré, B.), Chapter 8, in Tsionas, M. (eds.), “Panel Data Econometrics”, 2019.

              Theodore Lianos

              • "Is a Capitalist Steady- State Economy Possible? Is It Better in Socialism?", Real World Economics Review, 2021, issue no. 95, pp. 1-10.
              • "World Population: The Elephant in the Living Room", Real World Economics Review, 2020, issue no. 91, pp. 70-82.
              • "On the Relation between GDP and Energy: A Critical Comment" (.(with Pseiridis, A. and Tsounis, N.), International Journal of Energy Economics and Policy, 2020, 10(2), pp. 458-463.
              • Aristotle on Population Size” 2016. v. xxiv, no. 2, pp. 11-26. Hesiod’s Works and days. A Textbook of Political Economy vol. xxvii, pp. 11-29, 2019.
                “Environment, Poverty, and the Steady State Economy”, Journal of Population and Sustainability, 2019, vol. 3, no. 2, pp. 55-78.

              Helen Louri

              • “Economic activity and sources of finance in Greece: The predominant role of banks” (with Migiakis, P.), 2021 chapter 7 in G. Alogoskoufis and K. Featherstone (eds), Greece and the Euro, (forthcoming).
              • “Bank profitability in the euro area: The asymmetric effect of common supervision” (with Avgeri, I and Dendramis, Y.), 2021, LEQS Papers 170, LSE (forthcoming).
              • “Bank profitability in the euro area: The asymmetric effect of common supervision” (with Avgeri, I and Dendramis, Y.), 2021, in D. Nguyen (ed), Handbook of Banking and Finance in Emerging Markets, Edward Elgar Publishing (forthcoming).
              • “Determinants of non-performing loans in Greece: The intricate role of fiscal expansion" (with Karadima,M.)2021, GreeSe Papers, no 160, HO/EI, LSE.
              • “Are Banks Using Leverage to Target Return on Equity? Evidence from the US and the EU” (with Pagratis, S.and Karakatsani, E.), 2020, Oxford Economic Papers (forthcoming).
              • “Economic policy uncertainty and NPLs: The moderating role of bank concentration” (with Karadima, M.), 2021, Finance Research Letters, 38, 101458.
              • “The Single Supervisory Mechanism and its implications for the profitability of European banks” (with Avgeri, I and Dendramis, Y.),2020, Bank of Greece Working Papers, no 284.
              • “Reply to Remarks on Bank Competition and Convergence Dynamics” (with Karadima, M.), 2020, Journal of Risk and Financial Management, 13 (127), 1-6.
              • “Bank competition and credit risk in euro area banking: Fragmentation and convergence dynamics” (with Karadima, M.), 2020, Journal of Risk and Financial Management, 13 (57), 1-28.
              • “Bank competition and credit risk in the euro area, 2005-17: Is there evidence of convergence?” (with Karadima, M.), 2020, LEQS Papers 155, LSE.
              • “Non-performing loans in the euro area: Does market power matter?” (with Karadima, M.), Bank of Greece Workimg Paper, 2019, no 271 (also International Review of Financial Analysis, 2020, 101593).
              • “Financing economic activity in Greece: Past challenges and future prospects” (with Migiakis, P.), GreeSE Papers no 135, HO/EI, LSE, 2019.
              • “Banking concentration and firm growth: The role of size, location and financial crisis” (with Dimelis, S. and Giotopoulos, I.), Bulletin of Economic Research, 2019, Vol 71(3), 428-438.
              • “Bank lending margins in the euro area: funding conditions, fragmentation and ECB’s policies” (with Migiakis, P.), Review of Financial Economics, 2019, Vol 37(4), 482-505.
              • “Non-performing loans in the euro area: Are core-periphery banking markets fragmented?” (with Anastasiou, D. and Tsionas, M.), International Journal of Finance and Economics, 2019, Vol. 24(1), 97-112.

              Spyros Pagratis

              Ioanna Sapfo Pepelasis

              • Ioanna Sapfo Pepelasis and Vangelis Karamanolakis, Scientific Editors (2020).  Athens University of Economics (AUEB) : 100 Years of History,1920-2020. Author, Chaido Barkoula, AUEB, Athens. (In Greek)
              • Evangelia Matthopoulou and Ioanna Sapfo Pepelasis, (2021). “An Initial Study  of the Emerging Corporate Sector in Cyprus and Comparisons with Greece ,1920/23-1957”  in P. Kimourtzis, A.Mandylara , N. Boubaris (eds) , History, a Good Art, Essays dedicated to G.V. Dertilis, Athens, Asini. (In Greek) 

              Apostolis Philippopoulos

              • “Austerity, assistance and institutions: Lessons from the Greek sovereign debt crisis”. Joint paper with George Economides and Dimitris Papageorgiou. Forthcoming in Open Economies Review, 2021.
              • “The distributional consequences of rent seeking”. Joint paper with Angelos Angelopoulos, Konstantinos Angelopoulos and Spyridon Lazarakis. Forthcoming in Economic Inquiry, 2021.
              • “Institutions and macroeconomic performance: Core vs periphery countries in the Eurozone”. Joint paper with Tryfonas Christou and Vanghelis Vassilatos. Forthcoming in Oxford Economic Papers, 2021.
              • "On the mix of government expenditures and tax revenues" (with George Economides, Hyun Park and Stelios Sakkas), forthcoming in Macroeconomic Dynamics, 2021.
              • "Macroeconomic policy lessons for Greece from the debt crisis" (with George Economides and Dimitris Papageorgiou), CESifo Working Paper, Munich, no. 8188, April 2020.
                "Optimal tax policy under tax evasion" (with George Economides and Anastasios Rizos), International Tax and Public Finance, vol. 27, 339-362, 2020.

              Plutarchos Sakellaris

              • "Financial crises, firm-level shocks, and large downturns: Evidence from Greece," (with Giannoulakis, S.), International Journal of Finance and Economics. (forthcoming). DOI: 10.1002/ijfe.2493
              • "Measuring the Systemic Importance of Banks," (with Moratis, G.), Journal of Financial Stability, forthcoming.
              • "Extensions of the Pesaran, Shin and Smith (2001) bounds testing procedure," (with Bertsatos, G. and . Tsionas, M),  Empirical Economics, forthcoming. DOI: 10.1007/s00181-021-02041-3
              • "Greek Economic Growth: Past and Future," (with Leounakis, N.), in Greece and the Euro, ed. G. Alogoskoufis and K. Featherstone (e:book of conference volume), forthcoming.
              • "Quantifying Qualitative Survey Data: New Insights on the (Ir)Rationality of Firms' Forecasts" (with Botsis, A. and Görtz, C.), 2020, CESifo Working Paper Series 8148, CESifo.

              Elias Tzavalis

              • “Dealing with Endogeneity in Threshold Models using Copulas” (with Christopoulos, D. and McAdam, P.), Journal of Business & Economic Statistics, 2021, 39(1), 166-178.
              • “The Influence of Real Interest Rates and Risk Premium Effects on the Ability of the Nominal Term Structure to Forecast Inflation” (with Argyropoulos, E.), Quarterly Review of Economics and Finance, 2021, 80, 785-796.
              • "Investor sentiment effects on share price deviations from their intrinsic values based on accounting fundamentals" (with Y Karavias and S Spilioti), Review of Quantitative Finance and Accounting, 2020, 56, 1593-1621.
              • “Predicting Default Risk under Asymmetric Binary Link Functions”, (with Y. Dendramis, P.Varthalitis and E. Athanasiou), International Journal of Forecasting, 2020, 36, 1039-1056.
              • “Generalized Fixed-T Panel Unit Root Tests" (with Y. Karavias), Scandinavian Journal of Statistics 2019, 46, 1227-1251.

              Petros Varthalitis

              • Public debt consolidation and its distributional effects, (with S.Sakkas), The Manchester School, forthcoming.
              • How openness to trade rescued the Irish economy, (with K. McQuinn). In: Structural Reforms and Economic Growth in Europe, Nauro Campos, Paul De Grauwe and Yuemei Ji (Eds).Cambridge University Press (2020).
              • Predicting default risk under asymmetric binary link functions, (with Y.Dendramis, E.Tzavalis and E. Athanasiou), International Journal of Forecasting (2020), 36, 3, pp: 1039-1056.
              • Debt sharing after COVID-19: How the direct involvement of EU institutions could impact the recovery path of a member state, (with K. McQuinn), ESRI working papers No. 663 (2020).
              • Fiscal policy and growth in a panel of EU countries over 1995-2017,(with I.Kostarakos), ESRI working papers No. 675 (2020).
              • FIR-GEM: A SOE-DSGE Model for fiscal policy analysis in Ireland, ESRI working papers No. 620 (2019).
              • Fiscal multipliers in Ireland using FIR-GEM, ESRI working papers No. 636 (2019).

              Nikolaos Vettas

              • “The Contribution of Industry to the Greek Economy: Facts and Prospects (with Peppas, K.,Stavraki, S. and Vasileiadis, M.), Economic Bulletin 52, Bank of Greece, 2020.
              • "The Evolution of New Firms' Characteristics in Greece before and during the Economic Adjustment Programmes" (with Valavanioti, E., Peppas, K. and Vasileiadis, M.), Economic Bulletin 50, Bank of Greece, 2019.

              Andriana Vlachou

              • "The EU Emissions Trading System in crisis-ridden Greece: Climate under Neoliberalism", Review of Radical Political Economics, 2021, 53:1, pp. 35-57 (with Pantelias, G.).
              • "The Economic Crisis of Greece and Transformations Initiated by Memoranda", Science & Society, 2021, July, forthcoming.
              Recent Conference Presentations

              Yiannis Dendramis

              • Computational and Financial Econometrics, London (virtual) 2020, presented the paper: Measuring the Default Risk of Small Business Loans: Improved Credit Risk Prediction using  Deep Learning.
              • Alpha bank Greece, Athens (virtual), 2020, presented the paper:  Measuring the Default Risk of Small Business Loans: Improved Credit Risk Prediction using Deep Learning.
              • Society of Financial Econometrics, annual conference, Shanghai 2019 presented the paper: A regularization approach for large dimensional regression.
              • International Association of Applied Econometrics, annual conference Cyprus, 2019   presented the paper: A regularization approach for large dimensional regression.

              Stelios Giannoulakis

              • 8th UECE Conference on Economic and Financial Adjustments, Lisbon, 27 November 2020.
              • Association of Southern-European Economic Theorists (ASSET) International Conference, Greece, 25-27 October 2019.
              • 18th Conference on Research on Economic Theory and Econometrics (CRETE), Greece, 12-16 July 2019.
              • 9th Hellenic Observatory Ph.D. Symposium on Contemporary Greece and Cyprus, London School of Economics, 15 June 2019.

              Ioannis Papantonis
              13th International Conference on Computational and Methodological Statistics (CMStatistics 2020). This conference is organized by the ERCIM Working Group on Computational and Methodological Statistics (CMStatistics), King's Business School, and King's Department of Mathematics. 
               
              Ioanna Sapfo Pepelasis
               "The instιtution of the joint stock company: Transfer and adaptation in Greece,1821-1931", 21st Meeting of the Greek Historians of Economic Thought, June 4-5, 2021, University of Athens. 

              Panagiotis Skartados
              "Innovation Licensing, partial horizontal ownership and optimal taxation policies" (with S. Leonardos, E. Petrakis, and G. Stamatopoulos), Annual Meeting of the Association of Southern European Economic Theorists (ASSET) (virtual), 30 October 2020.

              Editor: George Alogoskoufis
              Associate Editor: Christos Genakos
              Prepared by: Fani Zervopoulou