Room A

Room B

Room C

Room D

Room E

9.00 – 10.30

Banking I

Chair: Claudia Girardone

Macroeconomic Theory

Chair: Athina Zervoyianni

FDI

Chair: Lucyna Kornecki

Financial Economics I

Chair: Nikolaos Eriotis

Tourism

Chair: Stella Kostopoulou

Alissa M. Winkler and Peter R. Haiss

§       Post-Crisis Business Models of Austrian Banks in Central and Eastern Europe

Nicholas Apergis and Effrosyni Alevizopoulou

§       Bank efficiency and the bank lending channel: Evidence from a panel of European banks

Stelios Karagiannis, Yannis Panagopoulos and Prodromos Vlamis

§       Interest rate pass-through in the Eurozone: implications for monetary policy in the context of the recent financial crisis

G.E. Chortareas, J. Garza-Garcia and C. Girardone

§       What affects net interest margins in Latin American banks?

Joel Hellier

§       Market Pessimism, Involontary unemployment and Fiscal policy

Nathalie Chusseau, Michel Dumont, Joël Hellier and Glenn Rayp

§       Is there a country-specific trade-off between wage inequality and unemployment?

Athina Zervoyianni, Georgia Petretziki and George Agiomirgianakis

§       The Unemployment-Growth Relationship, Structural Characteristics and Labour-Market Policies

Sushanta Mallick and Yong Yang

§       Financing patterns, Multinationals and Performance in times of Crisis: Firm-level evidence from 48 Countries

Panagiota Boura

§       The Effect of Tax-Incentives on Investment-Decisions of Transnational Enterprises (TNEs) in an Integrated World: A  Literature Review

Lucyna Kornecki and Vladislav Borodulin

§       FDI Stock Contributes to Economic Growth in the U.S.Economy

N. Tsangarakis, H. Tsirigotakis and E. Tsiritakis

§       The Market Response to Mergers and Acquisitions in the European Financial Institutions Sector

Tamara Backović Vulić

§       Testing the Efficient Market Hypothesis and its Citics - Application on the Montenegrin Stock Exchange

Vasilios Sogiakas and Efthalia Pispirigkou

§       The Dynamics of the Efficient Market Hypothesis under Structural Breaks

Dimitrios Vasiliou, Nikolaos Eriotis and Spyros Papathanasiou

§       Technical Trading Profitability in the Athens Stock Exchange

Alexi Thompson

§       The Effect of the Euro Switch on Tourism Demand in the Mediterranean

George Chobanov

§       Historic Heritage Valuation as a Corner Stone for Cultural Heritage Tourism Development

Filareti Kotsi

§       Religious Tourism. Development Policies of "Short-Term" Pilgrimage in the Post-Crisis Era

Stella Kostopoulou and Stella Papapavlou-Ioakeimidou

§       Cultural Heritage Protection and Tourism Development:A Mutual Dependence Relation?

10.30 – 11.00 Coffee break

Room A

Room B

Room C

Room D

Room E

11.00 – 12.30

Monetary Policy I

Chair: Wolfram Berger

Migration

Chair: Arusha Cooray

Corporate Finance

Chair: Theodoros Papadogonas

International Finance

Chair: Alexander Welfe

Applied Econometrics

Chair: Theodore Panagiotidis

Wolfram Berger

§       Monetary Policy Rules and the Extensive Margin

G. Chortareas, J. Nankervis and E. Noikokyris

§       Monetary Policy, Inflation and Stock Returns: Evidence from the UK

Ansgar Belke and Jens Klose

§       (How) Do the ECB and Fed React to Financial Market Uncertainty? The Taylor Rule in Times of crisis

Antonio Conti

§       Liquidity Matters: Money Non-Redundancy in the Euro Area Business Cycle

Francesco Magris and Giuseppe Russo

§       A simple model of immigration amnesty

Andrzej Cieślik and Monika Tarsalewska

§       International migration and human capital formation: Brain drain or brain gain?

Akira Shimada

§       Migration Decisions, Remittances, and Altruism

Arusha Cooray

§       Migrant Remittances, Financial Sector Develoment and the Government Ownership of Banks

Ouidad Yousfi

§       Leveraged Buy Out : Does the Write-off increase the agents' incentives?

Nikolaos Eriotis, Evangelos Poutos and Dimitrios Vasiliou

§       The dividend policy of the Greek listed firms prior the economic crisis:A comparative analysis

Tarek Sadraoui & Adnen Chockri

§       Corporate governance and technological development: A Panel Data Analysis

Fotini Voulgaris, Georgia Nikitaki and Theodoros Papadogonas

§       Determinants of Dividend Policy: An empirical analysis of the firms in the Athens Stock Exchange

Anastasios P. Pappas

§       Transmission of foreign monetary policy shocks to Greek interest rates, with and without capital controls

Fotini Economou, Alexandros Kostakis and Nikolaos Philippas

§       An Examination of Herd Behaviour in four Mediterranean Stock Markets

Piotr Keblowski and Aleksander Welfe

§       The Risk Driven Approach to the Eqilibrium Exchange Rate

Maria Christidou, Theodore Panagiotidis and Abhijit Sharma

§       On the stationarity of Carbon Dioxide Emission over two centuries

Anthony N. Rezitis and Konstantinos S. Stavropoulos

§       Modeling Price Volatility in the Greek Meat Market

Efstratios Tserkezos

§       Temporal Aggregation and the Ramsey's (RESET) Test for Functional Form: results from Monte Carlo experiment

Dimitra Chatzi

§       Testing the linearity of time series

12.30 – 14.00 Lunch break (at the Conference venue)

Room A

Room B

Room C

Room D

Room E

14.00 – 15.30

Industrial Organization

Chair: Guido Buenstorf

Exchange Rate Economics

Chair: George. Christodoulakis

Labor Economics

Chair: Thomas Beissinger

Inflation and Monetary Policy Transmission

Chair: Demetrios Moschos

Accounting & Finance

Chair: Dimitrios Asteriou

Guido Buenstorf and Sebastian Wilfling

§       Assessing pre-entry experience across countries and industries: farm tractors in the U.S. and in Germany

Antonis Georgopoulos and Dionysis Lalountas

§       The impact of a changing external environment on the survival of foreign-owned plants

Anthony N. Rezitis and Maria A. Kalantzi

§       Measuring market power in the Greek manufacturing industry

Flavio Vieira and Ronald MacDonald

§       A Panel Data Investigation on Real Exchange Rate Misalignment and Growth

Emmanuel C. Mamatzakis and G. Christodoulakis

§       Behavioural Asymmetries in the Spot-Forward G10 Exchange Rates: Answering an Old Puzzle

Bogna Gawronska Nowak

§       To peg or not to peg? - – an up-to- date crisis lesson from experience of Central and Eastern Europe

Sushanta Mallick

§       Macroeconomic shocks, monetary policy and implicit exchange rate targeting in India

Liviu Voinea and Flaviu Mihaescu

§       Public sector pay and inequality in Romania in the context of large budget deficits

Alcina Nunes and Elisa Barros

§       Regional Unemployment Patterns: A Cluster Analysis Approach to the Portuguese Economy

Miriam Marcén and Rafael González-Val

§       Unilateral Divorce vs. Child Custody and Child Support in the US.

Heiko Stüber and Thomas Beissinger

§       Does Downward Nominal Wage Rigidity Dampen Wage Increases?

Stanimira Milcheva and Steffen Sebastian

§       Housing Channels of Monetary Policy Transmission in European Industrial and Transition Countries

Jonida Lekocaj, Emanuella Katsi and Dikaios Tserkezos

§       Consumer Price Index. Does the Price Collection Frequency Matter? Some Monte Carlo Results

Juan Ingacio Aldasoro and Václav Ždárek

§       Euro area and inflation differentials - is there anything new?

Georgios Chortareas, George Magonis and Demetrios Moschos

§       Inflation Targeting and Inflation Convergence:Evidence from the OECD Countries

Nikolaos Eriotis, Kanellos Toudas and Dimitris Vasiliou

§       Concept, Regulations amd Institutional issues of the Accounting Standards in the International Public Sector. A critical review

Petros Kalantonis, Constantine Zopounidis, Maria Rodosthenous and Aggelos Vatikiotis

§       Bankruptcy forecasting models using financial statements

Panagiotis Dimitropoulos, Dimitrios Asteriou and Costas Siriopoulos

§       Euro adoption and the quality of accounting information

15.30 – 16.00 Coffee break

Room A

Room B

Room C

Room D

16.00 – 17.30

International Trade I

Chair: Henry Thompson

Regional Economics

Chair: Evangelia Desli

Business Cycles

Chair: Rebeca Jiménez-Rodríguez

Banking II

Chair: Peter Haiss

Andrzej Cieślik, Jan Michalek and Jerzy Mycielski

§       Social inequalities and international trade

Marie M. Stack and Eric J. Pentecost

§       Gravity Modelling and Prospective Trade in the EU Accession and Associated Countries

Andromachi Piperakis

§       Economic integration, wage formation and union bargaining

Henry Thompson

§       Estimating the Factor Proportions Model and Inverting the Inverse Matrix

Rafael González-Val, Luis Lanaspa, and Fernando Sanz

§       Gibrat’s Law for Cities Revisited

Camélia Turcu & Isabelle Rabaud

§       Market Potential, Sectoral Openness Degree and Location of Industries in EU-27 Countries

Jaroslav Kahoun

§       Regional disparities in the Czech Republic - GDP and disposable income

Evangelia Desli and Emmanouil Chatzigiannis

§       Regional Economic Growth in the EU

Rebeca Jimenez-Rodriguez and Marcelo Sanchez

§       Oil Price Shocks and Japanese Economic Developments

Pedro A. Cerqueira

§       The Worldwide Business Cycle Synchronization Evolution

Rebeca Jiménez-Rodríguez, Amalia Morales-Zumaquero and Balázs Égert

§       An empirical study about the synchronisation of business cycles in CEE countries

Jean Barthelemy, Magali Marx and Aurélien Poissonnier

§       Trends and cycles

Georgios Chortareas, Claudia Girardone and Alexia Ventouri

§       Bank Supervision, Regulation and Efficiency: Evidence from the European Union

Eleftherios Aggelopoulos, Antonios Georgopoulos and Costas Siriopoulos

§       Comparative efficiency analysis of Greek bank branches in the light of the financial crisis

Stephanos Papadamou and Costas Siriopoulos

§       Time varying exposure to interest rate risk and Bank of England operational independence: Evidence from banks and life insurance companies

Elisabeth Schellander and Peter Haiss

§       Knowledge Transfer by Austrian Banks to the Transition Economies of Central, Eastern and South Eastern Europe

17.30 – 17.45 Coffee break

17.45 – 18.45, Room A

Plenary Lecture in Finance. Speaker: Prof. Ike Mathur (Southern Illinois University)

20.00 Dinner @ Restaurant “Panorama” |Heliou 4, Kavouri – Vouliagmeni

Buses will depart from the conference venue at 19:15 

Room A

Room B

Room C

Room D

Room E

9.00 – 10.30

International Trade II

Chair: Tomasz Brodzicki

Monetary Economics

Chair: Ansgar Belke

Financial Economics III

Chair: George Leledakis

Currency Crises

Chair: Tomoe Moore

Economic Analysis and Policy

Chair: Anna Soci

Klimis Vogiatzoglou

§       Crowding-out, Demand, and Complementarity Effects: Examinig China's Overall Impact on Greece's Exports

Isabelle Rabaud and Thierry Montalieu

§       Measurement of Restrictions in Trade in Services: a Critical Assessment

Andrea Ingianni

§       Intra-European Union Trade Opennes and New Members' Output Convergence: A Time-Series Analyisis

Tomasz Brodzicki

§       Determinants of product variety in Polish exports to the EU15

Kostas Katirtzidis and John Tsoukalas

§       Optimal Monetary Policy with Fair Wage Considerations

Alexandre Sokic

§       Hyperinflation and money essentiality

Ansgar Belke, Ingo G. Bordon and Torben W. Hendricks

§       Monetary Policy, Global Liquidity and Commodity Prices

Maria Kalpouzani

§       Nonlinear relationships between financial newspaper circulations and the General Index of Athens Stock Exchange

Nikolaos A. Kalantzopoulos and Alexandros M. Hatzigeorgiou

§       Investigating the Overreaction Hypothesis of Behavioral Finance: Evidence from the Athens Exchange (ATHEX)

Vassilis Efthymiou and George Leledakis

§       Behavioral explanations of the ex dividend day puzzle

Ali Ari

§       An Early Warning Signals Approach for Currency Crises: The Turkish Case

Kostas Mouratidis, Dimitris Kenourgios and Aristeidis Samitas

§       Currency Crises Nature Analysis with Multivariate Markov-Switching Regimes

Mei Li and Frank Milne

§       A large trader in bubbles and crashes: an application to currency attacks

Tomoe Moore and Ping Wang

§       Can a persistency of currency crisis be explained by the indicators of fundaments?: Markov switching models for exchange market pressure

Uwe Fachinger

§       Income mobility. Some remarks on security and incentive aspects of income mobility, illustrated by an empirical analysis for Germany

Fang Wang

§       Evolving from Accumulation to Assimilation: A Latent Transition Analysis for Firms in Developing Countries

Thomas Bassetti, Nikos Benos and Stelios Karagiannis

§       How policy can influence human capital accumulation and environment quality

Nicola Melloni, Giovanni Palmieri and Anna Soci

§       How to develop the periphery? The case of Basso Ferrarese in Italy

10.30 – 10.45 Coffee break

Room A

Room B

Room C

Room D

Room E

10.45– 12.15

Money & Capital Markets

Chair: Keith Pilbeam

Monetary Policy II

Chair: Yasuyuki Komaki

Housing Markets and Credit

Chair: Yilan Xu

International Economics

Chair: Usha Nair-Reichert

Political Economy

Chair: Theodore Lianos

Minoas Koukouritakis and Leo Michelis

§       Structural Breaks and the Term Structure of Interest Rates in the European Union

Xu Zheng

§       Testing Models of Short-Term Interest Rate

Aristeidis Samitas and Ioannis Tsakalos

§       Financial Contagion: Evidence for Energy Market

José Olmo, Keith Pilbeam and William Pouliot

§       Detecting the Presence of Informed Price Trading Via Structural Break Tests

Rolf Knütter and Helmut Wagner

§       Monetary Policy and Boom-Bust-Cycles: The Role of Communication

Georgios Chortareas and Kaliopi-Maria Zekente

§       Central bank forecast transparency, incentives and inflation targets

Yasuyuki Komaki

§       Monetary policy evaluation using the Narrative approach with Real Time data-ECB and BOE

Anna Merika and Anna Triantafyllou

§       House price co-movement and real estate diversification in Europe

Georgios Kavetsos

§       The Impact of the London Olympics Announcement on Property Prices

Yilan Xu and Jipeng Zhang

§       Interstate Home Mortgage Lending and Subprime Crisis

Susana Margarida Baptista Mieiro and Pedro Miguel Girão Nogueira Ramos

§       Dutch Disease in Macau: Diagnosis and Treatments

Calista Cheung, Davide Furceri, Elena Rusticelli

§       Current Account Balances: Structural and Cyclical Drivers

George Agiomirgianakis and Athina Zervoyianni

§       Openness and Macroeconomic Equilibrium in Unionized Economies

Usha Nair-Reichert

§       Globalization of R&D:  Empirical Evidence from Multinational R&D Joint Ventures and Alliances in India

Georgios Efthyvoulou

§       Political Budget Cycles in the European Union and the Impact of Political Pressures: A Dynamic Regression Analysis

Betty Agnani and Henry Aray

§       Testing for Political Effects on Total Factor Productivity

Michael G. Arghyrou

§       Corruption as a form of extreme individualism: An economic explanation based on climate and geography conditions

Theodore P. Lianos

§       Aristotle's Macroeconomic Model of the City-State

12.15 – 13.15 Lunch break (at the Conference Venue)

Room A

Room B

Room C

Room D

Room E

13.15 – 14.45

Global Imbalances and Savings

Chair: Ansgar Belke

Growth, Productivity and Technological Change

Chair: W. Charles Sawyer

Macroeconomics & the Financial Crisis

Chair: Rudolf Zwiener

Financial Economics II

Chair: Costas Siriopoulos

Topics in Economics and Business

Chair: Srikanta Chatterjee

Gustav Horn, Heike Joebges and Rudolf Zwiener

§       Global imbalances: Cause of the crisis and solution strategies for Germany

Anastasios Mastroyiannis

§       Global Imbalances: Prospects and Challenges for the International Monetary System

Ansgar Belke and Daniel Gros

§       A Simple Model of an Oil Based Global Savings Glut – The „China Factor“ and the OPEC Cartel

Micaela Antunes and Elias Soukiazis

§       Growth performance in Portugal since the 60`s. A multi equation model with cumulative growth characteristics.

Dimitrios Asteriou and Argiro Moudatsou

§       Foreign Direct Investment and Economic Growth: The Contribution of Well-Functioning Financial Markets

Iordanis Petsas

§       Globalizatoin, General Purpose Technologies, and Economic Growth

W. Charles Sawyer

§       Productivity Growth and Institutional Quality in Latin America

Michael Feil

§       Forecasting medium-term distributional effects of the economic crisis: A CGE-microsimulation approach

Lucian-Liviu Albu

§       Scenarios for post-crisis period based on a set of pesumed changes in the interest rate - investment - GDP growth relationship

Marek Rojicek

§       Macroeconomic impact of the global crisis on the Czech economy

Rudolf Zwiener

§       Macroeconomic effects of a shift from a PAYG pension system to a funded system - Lessons from the financial crises

Faten Ben Slimane

§       Stock exchange consolidation and volatility: the case of Euronext

Stavros Degiannakis, George Filis, Christos Floros

§       Dynamic correlation between stock markets and oil prices: Evidence from oil importing and oil exporting countries

Konstantinos Konstantaras and Costas Siriopoulos

§       An option valuation approach to gauge trading suspension's economic drivers and impact on listed firms

Dionisis Philippas and Costas Siriopoulos

§       A Stochastic Diffusion Process of Financial innovation

Kyriaki Mitroussi and Gianna Gavatha

§       Value system performance: the impact of suppliers' problems

Anastasia Pseiridis

§       The economics of animal rights and animal welfare: A comparison.

Evagelia Fragouli

§       Intellectual Capital & Organizational Advantage:An economic approach to its valuation and measurement

Srikanta Chatterjee, Allan Rae and Ranjan Ray

§       Growing Affluence and Declining Nutrition: A Contemporary Indian Quandary

14.45 – 15.00 Coffee break

Room A

Room B

Room C

Room D

15.00 – 16.30

Public Economic

Chair: Jan König

FDI II

Chair: Subrata Ghatak

Topics in Empirical Macroeconomics

Chair: Florian Hartmann

Risk and Extreme Events

Chair: Georgios P. Kouretas

Flora Hermengarda de Pinho e Cunha Lobo, Pedro Miguel Girão Nogueira Ramos and Óscar Domingos Lourenço

§       Causes of financial distress of Portuguese municipalities: Empirical Evidence

Dimitrios Asteriou, Stella Karagianni and Anastasios Saraidaris

§       Economic Growth Dynamics and Corporate Taxation: A dynamic panel data econometric analysis for OECD countries.

Lev Freinkman, Konstantin A. Kholodilin and Ulrich Thießen

§       Incentive Effects of Fiscal Equalization: Has Russian Style Improved?

Jan König and Erkki Koskela

§       The Role of Profit Sharing in Dual Labour Markets With Flexible Outsourcing

Arkadiusz Mironko

§       FDI location patterns as regional economic development and competitiveness vehicle

Philippe Saucier, Ioan Nistor, Simona-Gabriela Masca and Maria Ulici

§       How Foreign Participation Impact Companies Performance: Evidence from Romania

Keshab Bhattarai and Subrata Ghatak

§       FDI, Investment and Growth in OECD Countries

Juan Carlos Cuestas and Luis A. Gil-Alana

§       Unemployment hysteresis, structural changes, non-linearities and fractional integration in Central and Eastern Europe

Stelios Karagiannis, Yannis Panagopoulos and Prodromos Vlamis

§       Are retail oil price adjustments asymmetric? Evidence from the Eurozone

Petre Caraiani

§       Asymmetry in Okun Coefficient in Romanian Economy

Matthieu Charpe, Peter Flaschel, Florian Hartmann and Christian Proaño

§       Stabilizing an Unstable Economy: Fiscal and Monetary Policy, Stocks, and the Term Structure of Interest Rates

Spyros Spyrou

§       Are extreme market events anticipated my informed traders? Evidence from major equity and index optiuons markets

José Olmo and William Poulliot

§       Early Detection Techniques for Market Risk Failure

Panayiotis F. Diamandis, Anastassios A. Drakos, Georgios P. Kouretas and Leonidas Zarangas

§       Value-at-Risk for Short and Long Trading Positions: Evidence from Developed and Emerging Equity Markets

16.30 – 16.45 Coffee break

16.45 – 18.00 · Room A

Panel Session on “The Crisis in Greece and the Eurozone”.

18.00 – 19.00 · Room A

Plenary Lecture in Economics. Speaker: Prof. Herakles Polemarchakis (University of Warwick)

21.00 – 23.00 Dinner @ Restaurant “Exapinis” |Panos 6, Plaka

A guided walking tour through Plaka will start at 20:30 from the Conference Venue and will lead to the restaurant.

Excursion

Details about the optional excursion will be provided separately (please see relevant details provided through the Conference website).