Economics at your fingertips  

Working Papers

From Athens University Of Economics and Business, Department of Economics
Contact information at EDIRC.

Series data maintained by Themis Volikas ().

Access Statistics for this working paper series.
Track citations for all items by RSS feed
Is something missing from the series or not right? See the RePEc data check for the archive and series.

201607: Optimal Bailout of Systemic Banks Downloads
Charles Nolan, Plutarchos Sakellaris and John Tsoukalas
201606: Market and Political Power Interactions in Greece:An Empirical Investigation Downloads
Tryphon Kollintzas, Dimitris Papageorgiou, Mike Tsionas and Vanghelis Vassilatos
201604: Unemployment Persistence, Inflation and Monetary Policy in A Dynamic Stochastic Model of the Phillips Curve Abstract:This paper puts forward an alternative “new Keynesian” dynamic stochastic general equilibrium model of aggregate fluctuations. The model is characterized by one period nomi- nal wage contracts and endogenous persistence of deviations of unemployment from its natural rate. Aggregate fluctuations are analyzed under both a Taylor nominal interest rate rule and under the assumption of optimal discretionary monetary policy. Under both types of monetary policy, the per- sistence of unemployment results in persistent inflation as the central bank responds to deviations of unemployment from its natural rate. Econometric evidence from the United States since the 1890s cannot reject the main predictions of the model Downloads
George Alogoskoufis
201603: Monetary policy, market structure and the income shares in the U.S Downloads
George Bitros
201602: Deflationary Adjustment Processes and the Effectiveness of Structural Reforms In Monetary Unions Downloads
George Demopoulos and Nicholas Yannacopoulos
201601: Market and Political Power Interactions in Greece: A Theory Downloads
Tryphon Kollintzas, Dimitris Papageorgiou and Vanghelis Vassilatos
201512: Ocean shipping: By far the best growth model for Greece Downloads
George Bitros
201511: Consistent tests for risk seeking behavior: A stochastic dominance approach Abstract We develop non-parametric tests for prospect stochastic dominance Efficiency (PSDE) and Markowitz stochastic dominance efficiency (MSDE) with rejection regions determined by block bootstrap resampling techniques. Under the appropriate conditions we show that they are asymptotically conservative and consistent. We engage into Monte Carlo experiments to assess the nite sample size and power of the tests allowing for the presence of numerical errors. We use them to empirically analyze investor preferences and beliefs by testing whether the value-weighted market portfolio can be considered as efficient according to prospect and Markowitz stochastic dominance criteria when confronted to diversi cation principles made of risky assets. Our results indicate that we cannot reject the hypothesis of prospect stochastic dominance efficiency for the market portfolio. This is supportive of the claim that the particular portfolio can be rationalized as the optimal choice for any S-shaped utility function. Instead, we reject the hypothesis for Markowitz stochastic dominance, which could imply that there exist reverse S-shaped utility functions that do not rationalize the market portfolio Downloads
Stelios Arvanitis and Nikolas Topaloglou
201510: Stochastic Spanning Downloads
Stelios Stelios Arvanitis, Mark Hallam, Thierry Post and Nikolas Topaloglou
201509: Saddle-Type Functionals for Continuous Processes with Applications to Tests for Stochastic Spanning Downloads
Stelios Stelios Arvanitis
Page updated 2017-05-20
Sorted by number, numeric