Working Papers

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235: Fiscal policy with an informal sector

Harris Dellas, Dimitrios Malliaropulos, Dimitris Papageorgiou and Evangelia Vourvachaki

234: The Greek great depression:a general equilibrium study of its drivers

George Economides, Dimitris Papageorgiou and Apostolis Philippopoulos

233: Labour market adjustment in Europe during the crisis: microeconomic evidence from the wage dynamics network survey

Mario Izquierdo, Juan F Jimeno, Theodora Kosma, Ana Lamo, Stephen Millard, Tairi Room and Eliana Viviano

232: Do creditor rights and information sharing affect the performance of foreign banks?

Emmanuel Mamatzakis and Antonios Kalyvas

231: The effectiveness of unconventional monetary policy on risk aversion and uncertainty

Leonidas Rompolis

230: Is there accuracy of forward freight agreements in forecasting future freight rates? An empirical investigation

Evangelia Kasimati and Nikolaos Veraros

229: A new approach to governance and integration in EMU for an optimal use of economic policy framework - priority to financial union

Theodoros S. Papaspyrou

228: Exporting and performance: evidence from Greek firms

Heather Gibson and Georgia Pavlou

227: Labour market adjustments and reforms in Greece during the crisis: microeconomic evidence from the third wave of the wage dynamics

Theodora Kosma, Evangelia Papapetrou, Georgia Pavlou, Christina Tsochatzi and Pinelopi Zioutou

226: The interplay between quantitative easing and risk: the case of the Japanese banking

Emmanuel Mamatzakis and Anh N. Vu

225: The effect of card payments on vat revenue in Greece

George Hondroyiannis and Dimitrios Papaoikonomou

224: Fiscal policy effects on non-performing loan formation

Vasilis Siakoulis

223: Is there a case for intergenerational transmission of female labour force participation and educational attainment? Evidence from Greece during the crisis

Evangelia Papapetrou and Pinelopi Tsalaporta

222: A ternary-state early warning system for the European Union

Savas Papadopoulos, Pantelis Stavroulias, Thomas Sager and Etti Baranoff

221: Markups and fiscal policy: analytical framework and an empirical investigation

Georgios Christou and Panagiotis Chronis

220: On the determinants of NPLS: lessons from Greece

Evangelos Charalambakis, Yiannis Dendramis and Elias Tzavalis

219: Non-performing loans in the euro area: are core-periphery banking markets fragmented?

Dimitris Anastasiou, Helen Louri and Mike Tsionas

218: Insights on the Greek economy from the 3D macro model

Hiona Balfoussia and Dimitris Papageorgiou

217: Alternatives to large VAR, VARMA and multivariate stochastic volatility models

Mike Tsionas

216: Alternative Bayesian compression in Vector Autoregressions and related models

Mike Tsionas

215: The slowdown in US productivity growth - what explains it and will it persist?

Ursel Baumann and Melina Vasardani

214: Self-fulfilling dynamics: the interactions of sovereign spreads, sovereign ratings and bank ratings during the euro financial crisis

Heather Gibson, Stephen Hall and George Tavlas

213: Inter-industry wage differentials in Greece: rent-sharing and unobserved heterogeneity hypotheses

Evangelia Papapetrou and Pinelopi Tsalaporta

212: New perspectives on the Great Depression: a review essay

George Tavlas

211: Moral hazard and strategic default: evidence from Greek corporate loans

Ioannis Asimakopoulos, Panagiotis K. Avramidis, Dimitrios Malliaropulos and Nickolaos G. Travlos

209: On the optimality of bank competition policy

Ioannis G. Samantas

208: Firm investment and financial conditions in the euro area: evidence from firm-level data

Hiona Balfoussia and Heather Gibson

207: How Friedman and Schwartz became monetarists

James Lothian and George Tavlas

206: Structural and cyclical factors of Greece’s current account balances: a note

Ioanna C. Bardakas

205: Underinvestment and unemployment: the double hazard in the euro area

Nicos Christodoulakis and Christos Axioglou

204: Macroeconomic forecasting and structural changes in steady states

Dimitrios Louzis

203: Credit risk stress testing for EU15 banks: a model combination approach

George Papadopoulos, Savas Papadopoulos and Thomas Sager

202: Systemic early warning systems for EU15 based on the 2008 crisis

Savas Papadopoulos, Pantelis Stavroulias and Thomas Sager

201: Who exports high-quality products? Some empirical regularities from Greek exporting firms

Sarantis Kalyvitis

200: Credit-less recoveries: the role of investment-savings imbalances

Hiona Balfoussia and Dimitrios Malliaropulos

199: The Effectiveness of The ECB’s Asset Purchase Programs Of 2009 To 2012

Heather Gibson, Stephen Hall and George Tavlas

198: Determinants of euro-area bank lending margins: financial fragmentation and ECB policies

Helen Louri and Petros Migiakis

197: The Macroeconomic Impact of Structural Reforms in Product and Labour Markets: Trade-Offs and Complementarities

Dimitris Papageorgiou and Evangelia Vourvachaki

196: The distributional consequences of the stabilization and adjustment policies in Greece during the crisis, with the use of a multisectoral computable general equilibrium model

Stavros Zografakis and Alexandros Sarris

195: Steady-state priors and Bayesian variable selection in VAR forecasting

Dimitrios Louzis

194: Financial conditions and economic activity: the potential impact of the targeted longer-term refinancing operations (TLTROS)

Hiona Balfoussia and Heather Gibson

193: Corruption and Tax Evasion: Reflections on Greek Tragedy

Anastasia Litina and Theodore Palivos

192: EMU 2.0 Drawing Lessons From the Crisis - a New Framework For Stability and Growth

Theodoros Papaspyrou

191: Profitability in the Greek Banking System: a Dual Investigation of Net Interest and Non-Interest Income

Dimitrios Louzis and Angelos Vouldis

190: What are the International Channels Through Which a US Policy Shock is Transmitted to The World Economies? Evidence from a Time Varying FAVAR

Anastasios Evgenidis and Costas Siriopoulos

189: Bank leverage and return on equity targeting: intrinsic procyclicality of short-term choices

Spyros Pagratis, Eleni Karakatsani and Helen Louri

188: On corporate financial distress prediction: what can we learn from private firms in a small open economy?

Evangelos Charalambakis

187: When does it pay to tax? Evidence from state-dependent fiscal multipliers in the euro area

George Hondroyiannis and Dimitrios Papaoikonomou

186: Fiscal policy, net exports, and the sectoral composition of output in Greece

Athanasios Tagkalakis

185: Industry-level labour demand elasticities across the Eurozone: will there be any gain after the pain of internal devaluation?

Antonis Adam and Thomas Moutos