Policy and industry-facing research

My research has contributed to policy discussions in Europe, informed the work of policy institutions, and translated into sustained engagement with financial institutions and advisory firms. I have also organised high-level policy roundtables bringing together academics, policymakers, regulators, and practitioners.

An illustrative recent example of industry-facing engagement is a commissioned consultancy research project for PwC Greece on zombie-firm identification, corporate survival modelling, and early-warning risk systems using granular firm-level data. Presentation here.

Earlier policy-oriented work includes research consultancy projects for the European Commission and the European Central Bank on issues related to the modelling and pricing of sovereign risk. 

Policy papers

• Fiscal space and sovereign bond market developments in selected European economies, with J. Tsoukalas. Hellenic Parliamentary Budget Office, Research Notes Series,1, 2025

• A comprehensive analysis of transactions in the Greek residential property market, with E. Pyrgiotakis, Hellenic Observatory Discussion Papers, 2025, GreeSE Paper No. 204. Podcast (by NotebookLM), Version in Greek

• The determinants of sovereign bond yield spreads in the EMU, with A. Afonso and M. Arghyrou, European Central Bank, Working Paper Series, 2015, No. 1781

• The EMU sovereign-debt crisis: Fundamentals, expectations and contagion, with M. Arghyrou, European Commission, Economic Papers, 2011, No. 436

Media & public dissemination

• Greek zombie firms report coverage, Kathimerini (in Greek), 2025. 

• The new equilibria in the Greek banking system,  with A. Fousteris, Naftemporiki (in Greek), 2025. English version here.

• Greek residential property market,  ERT News (in Greek), 2024.

• Analysing transactions in the Greek residential property market,  with E. Pyrgiotakis, Naftemporiki (in Greek), 2024.

• Lessons from the Greek Property Transaction Value Register, with E. Pyrgiotakis, Kathimerini (in Greek), 2024.

• Greek property market and banks: Quo vadis? with S. Kokas, Oikonomikos Taxydromos (in Greek), 2024. English version here.

• Greek banking sector prospects, ERT News (in Greek), 2024.

• Greek banks' recovery from the crisis, with S. Kokas, Naftemporiki (in Greek), 2023. English version here.

• Challenges and opportunities for private equity, with S. Kokas, Naftemporiki ((in Greek), 2023.

• What are the possible effects of the ECB's tighter monetary policy?, Naftemporiki (in Greek), 2022.

• The links between monetary policy and bank profitability, ERT News (in Greek), 2022.

• Lessons from the sovereign debt crisis, Vima (in Greek), 2011.

• The crisis as an opportunity, with M. Arghyrou, Kathimerini (in Greek), 2010.