Research

Publications in books

1. Bank transaction taxes: International evidence and potential implications for Greece, (2017), in Taxation in Crisis, edited by D. D. Thomakos, K. I. Nikolopoulos, The Palgrave Macmillan Studies in Banking and Financial Institutions, pp. 235-267 (with H. Balfousia, D. Malliaropulos and T. Tagkalakis).

2. The Greek great depression: a general equilibrium study of its drivers, (2017), in Political Economy Perspectives on the Greek Crisis, edited by I. Bournakis, C. Tsoukis, D. K. Christopoulos, T. Palivos, Palgrave Macmillan, pp. 205-221, (with G. Economides, A. Philippopoulos).

3.  A toolkit for the study of fiscal policy in Greece, (2011), in Essays in Economics: Applied studies for the Greek economy, edited by S. Balfousias, P. Hatzipanayotou, C. Kanellopoulos, Centre of Planning and Economic Research (KEPE), 165-201 (with A. Philippopoulos and V. Vassilatos). 

Other publications

1.  Effects of a sovereign credit rating upgrade to investment grade on the Greek economy, (2023), Economic Bulletin, Bank of Greece, issue 58, pages 7-28, December (with M. Anastasatou, H. Balfoussia, Z. Bragoudakis, D. Malliaropulos, P. Migiakis and P. Petroulas) 

2. COVID-19 and other pandemics: a literature review for economists, (2020), Economic Bulletin, Bank of Greece, issue 51, pages 7-42, July (with Anyfantaki S., Balfoussia H., Dimitropoulou D., Gibson H., Petroulakis F., Theofilakou A., Varsadani M.)

3. Fiscal policy rules and debt sustainability in Greece after the entry into the eurozone, (2013), Proceedings of the 3rd International Conference in Quantitative and Qualitative Methods in Economics and Management, Technological Educational Institute of Athens, Department of Business Administration. (with T. Kazanas).

4. A small-scale macroeconometric model for the Greek economy, (2012), Greek Economic Outlook, 19, 53-57, Centre of Planning and Economic Research (KEPE) (with Y. Dendramis and T. Kazanas).

5. Public finance distortions and proposals for their remedy, (2010), Economic Policy Studies, 11, 99-130 (with T. Kollintzas and V. Vassilatos, in Greek).

Working papers  

• 1. The Greek Great Depression from a neoclassical perspective, (2021), Bank of Greece Working Paper Series No.  286 (with S. Tsiaras)

  2. Implications of market and political power interactions for growth and the business cycle I: private sector equilibrium, (2021), Bank of Greece Working Paper Series No.  288 (with T. Kollintzas and V. Vassilatos)

  3. The economic impact of pandemics: real and financial transmission channels, (2020), Bank of Greece Working Paper Series No.  283 (with Balfoussia H., Gibson H., and Malliaropulos D.). 

  4. Macroeconomic Policy Lessons for Greece from the Debt Crisis, (2020),  CESifo Working Paper Series 8188, CESifo,  (with G. Economides, A. Philippopoulos). 

  5. Fiscal distress and banking performance: The role of macroprudential regulation, (2019), CEPR Discussion Papers 14003, C.E.P.R. Discussion Papers (with Balfoussia, H. and Dellas, H.)  (see also the BoG working paper version)

  6. Rent seeking activities and aggregate economic performance - the case of Greece, (2018), Bank of Greece Working Paper Series No. 252 (with S G. Gogos and V. Vassilatos)

  7. Loan-to-value ratio limits: an exploration for Greece, Bank of Greece Working Papers No. 248, (with Balfoussia, H. and Dellas, H.) 

  8. Business investment in EU countries, (2018). European Central Bank, Occasional Paper Series No. 215 (with Banbura, M., Albani, M., Ambrocio, G., Bursian, D., Buss, G., Garuva, M., Giordano, C., Julio, P., Roux, P., Lozej, M., Malthe-Thagaard, S., Maria, J., Martinez Carrascal, C., Meinen, P., Michall, N., Pool, S., Ravnik, R., San Juan del Peso, L., Toth, M., Zevi, G.)

  9. Real and financial cycles in EU countries: Stylised facts and modelling implications, (2018), European Central Bank, Occasional Paper Series No. 205 (with Rünstler, G., Balfoussia, H., Burlon, L., Buss, G., Comunale, M., De Backer, B., Dewachter, H., Guarda, P., Haavio, M., Hindrayanto, I., Iskrev, N. Ivanov, J., Ivan, K., Dmitry, K., Davor, L., Crt, L., Matthieu, L., Matija, M., Martin,. Pedersen, J., Perez-Quiros, G., Rannenberg, A., Rots, E., Scharnagl, M., Welz, P.)

  10. Fiscal policy with an informal sector, (2017), Bank of Greece Working Paper Series No. 235 (with H. Dellas, D. Malliaropoulos and E. Vourvachaki). 

  11. The Greek great depression: a general equilibrium study of its drivers, (2017), Bank of Greece Working Paper Series No. 234 (with G. Economides, A. Philippopoulos)

  12. The driving forces of the current Greek great depression, (2017), Athens University of Economics and Business, Working Paper Series No. 03-2017 (with G. Economides, A. Philippopoulos)

  13.  Insights on the Greek economy from the 3D macro model, (2016), Bank of Greece Working Paper Series, No. 218 (with Hiona Balfousia)

  14.  Labour market modelling in the light of the financial crisis, (2016), European Central Bank, Occasional Paper Series, No. 175 (with Pierre Lafourcade, Andrea Gerali, Jan Brůha, Dirk Bursian, Ginters Buss, Vesna Corbo, Markus Haavio, Christina Håkanson, Tibor Hledik, Gábor Katay, Dmitry Kulikov, Matija Lozej, Brian Micallef, Juuso Vanhala and Marin Zeleznik) 

  15. Comparing fiscal multipliers across models and countries in Europe, (2015), European Central Bank, Working Paper Series, No. 1760 (with Sebastian Schmidt, Juha Kilponen, Massimiliano Pisani, Vesna Corbo, Tibor Hledik, Josef Hollmayr, Samuel Hurtado, Paulo Júlio, Dmitry Kulikov, Matthieu Lemoine, Matija Lozej, Henrik Lundvall, José R. Maria, Brian Micallef, Jakub Rysanek, Dimitrios Sideris, Carlos Thomas, Gregory De Walque).

  16. The macroeconomic impact of structural reforms in product and labour markets: trade-offs andcomplementarities, (2015), Bank of Greece Working Papers No. 197 (with E. Vourvachaki)

  17.  A model of market and political power interactions for Southern Europe, (2015), CEPR Discussion Paper Series, No. 10359 (with T. Kollintzas and V. Vassilatos).

  18. BoGGEM: A Dynamic Stochastic General Equilibrium Model for Policy Simulations, (2014), Bank of Greece Working Papers N0. 182.

  19. A neoclassical growth model for the insiders – outsiders society, (2013), CEPR Discussion Paper Series, No. 9640 (with T. Kollintzas and V. Vassilatos).

  20. A dynamic stochastic general equilibrium model for a small open economy: Greece, (2013), Centre of Planning and Economic Research (KEPE), Discussion Paper No. 128 (with T. Kazanas).

  21. An explanation of the Greek crisis: “The insiders – outsiders society”, (2012), CEPR Discussion Paper Series, No. 8996 (with T. Kollintzas and V. Vassilatos).

  22. Smaller public sectors in the Euro Area: Aggregate and distributional implications, (2012), CESifo Working Paper No. 3965, (with G. Economides, A. Philippopoulos and V. Vassilatos). 

  23. Greece 1979-2001: A (first) great depression seen from the basic RBC model perspective, (2012), Athens University of Economics and Business, Working Paper Series, 01-2012 (with S. Gogos, N. Mylonidis and V. Vassilatos).

  24. Effective tax rates in Greece, (2012), Centre of Planning and Economic Research (KEPE), Discussion Paper No. 124 (with T. Efthimiadis and I. Konstantakopoulou). 

  25. Macroeconomic implications of alternative tax regimes: the case of Greece, (2009), Bank of Greece, Working Paper No. 97.