Time Series Analysis and Econometrics
Artificial Intelligence and Machine Learning:
Support Vector Machines for Classification
Support Vector Regression
Deep Learning
Complex Networks
Banking supervision mechanisms
Forecasting bank failures
Forecasting recessions
Macroeconomic forecasting
Forecasting economics and finance time series
We introduce the use of the Threshold - Minimum Dominating Set (T-MDS)
Papadimitriou, Gogas, Sarantitis, Matthaiou (2014)
Applications of the T-MDS include:
Banking supervision
Business cycle convergence internationally and intra-nationally
Identification of contagion paths in banking and economies
Identification of contagion paths in financial and fiscal crises
We introduce the use of the mutivariate T-MDS (mT-MDS)
Gogas, Papadimitriou, Matthaiou, 2021
Representation of the multivariate T-MDS
Forecasting Bank Failures with Machine Learning
International Journal of Finance
Emerging Methodologies in Economics and Finance: a non-technical description of our research and the methodologies involved
Full list of publications, most recent first. Source: Google Scholar profile.
A Dimitriadou, T Papadimitriou, P Gogas (2026). “From Prediction to Insight: Understanding Drivers of UK Tourism Demand with Machine Learning”. Economies 14(4), 141. https://doi.org/10.3390/economies14040141
E Sofianos, T Betti, T Papadimitriou, A Barbier‐Gauchard, P Gogas (2026). “Using DSGE and Machine Learning to forecast public debt for France”. Journal of Forecasting 45(5), 2173-2185. https://doi.org/10.1002/for.70144
P Gogas, T Papadimitriou, P Goumenidis, A Kontos, N Giannakis (2025). “Identification of Investment-Ready SMEs: A Machine Learning Framework to Enhance Equity Access and Economic Growth”. Forecasting 7(3), 51. https://doi.org/10.3390/forecast7030051
C Alexakis, P Gogas, G Petrella, M Polemis, F Salvadè (2025). “Investigating the investment readiness of European SMEs: A machine learning approach”. International Review of Financial Analysis 105, 104439. https://doi.org/10.1016/j.irfa.2025.104439
A Dimitriadou, P Gogas, T Papadimitriou (2025). “Tourism and uncertainty: a machine learning approach”. Current Issues in Tourism 28(14), 2278-2298. https://doi.org/10.1080/13683500.2024.2370380
J Francis, P Tsiartas, J Hreinsson, M Andersson, J Hermansson, P Gogas, et al. (2025). “Semen HPV and IVF: insights from infection prevalence to embryologic outcomes”. Journal of Assisted Reproduction and Genetics 42(6), 2053-2066. https://doi.org/10.1007/s10815-025-03513-6
E Sofianos, C Alexakis, P Gogas, T Papadimitriou (2025). “Machine learning forecasting in the macroeconomic environment: the case of the US output gap”. Economic Change and Restructuring 58(1), 9. https://doi.org/10.1007/s10644-024-09849-w
F Gkatzoglou, T Papadimitriou, P Gogas (2024). “Fuel Price Networks in the EU”. Economies 12(5), 102. https://doi.org/10.3390/economies12050102
E Sofianos, E Zaganidis, T Papadimitriou, P Gogas (2024). “Forecasting East and West Coast Gasoline Prices with Tree-Based Machine Learning Algorithms”. Energies 17(6), 1296. https://doi.org/10.3390/en17061296
T Poufinas, P Gogas, T Papadimitriou, E Zaganidis (2023). “Machine Learning in Forecasting Motor Insurance Claims”. Risks 11(9), 164. https://doi.org/10.3390/risks11090164
M Alexiadou, E Sofianos, P Gogas, T Papadimitriou (2023). “Cryptocurrencies and Long-Range Trends”. International Journal of Financial Studies 11(1), 40. https://doi.org/10.3390/ijfs11010040
P Gogas, T Papadimitriou (2023). “Machine learning in renewable energy”. Energies 16(5), 2260. https://doi.org/10.3390/en16052260
G Toulias, E Sofianos, P Gogas (2023). “Bitcoin, Sentiment Analysis and the Efficient Market Hypothesis: A Machine Learning Approach”. Empirical Economics Letters 22(1). https://doi.org/10.2139/ssrn.4610497
T Lefkou, E Sofianos, P Gogas (2023). “Banking Sector Resilience to Major Crises”. Journal of Finance and Economics 11(1), 1-13. https://doi.org/10.12691/jfe-11-1-1
V Plakandaras, P Gogas, T Papadimitriou, I Tsamardinos (2022). “Credit Card Fraud Detection with Automated Machine Learning Systems”. Applied Artificial Intelligence 36(1), 2086354. https://doi.org/10.1080/08839514.2022.2086354
T Papadimitriou, P Gogas, AF Athanasiou (2022). “Forecasting Bitcoin Spikes: A GARCH-SVM Approach”. Forecasting 4(4), 752-766. https://doi.org/10.3390/forecast4040041
E Sofianos, P Gogas, T Papadimitriou (2022). “Mind the gap: forecasting euro-area output gaps with machine learning”. Applied Economics Letters 29(19), 1824-1828. https://doi.org/10.1080/13504851.2021.1963403
T Papadimitriou, P Gogas, F Gkatzoglou (2022). “The Convergence Evolution in Europe from a Complex Networks Perspective”. Journal of Risk and Financial Management 15(10), 457. https://doi.org/10.3390/jrfm15100457
T Papadimitriou, P Gogas, A Agrapetidou (2022). “The resilience of the US banking system”. International Journal of Finance & Economics 27(3), 2819-2835. https://doi.org/10.1002/ijfe.2300
P Gogas, T Papadimitriou, MA Matthaiou (2022). “Supervision of banking networks using the multivariate Threshold-Minimum Dominating Set (mT-MDS)”. Journal of Risk and Financial Management 15(6), 253. https://doi.org/10.3390/jrfm15060253
P Michailidis, A Dimitriadou, T Papadimitriou, P Gogas (2022). “Forecasting Hospital Readmissions with Machine Learning”. Healthcare 10(6), 981. https://doi.org/10.3390/healthcare10060981
P Gogas, T Papadimitriou (2022). “Emerging Trends in Energy Economics”. Energies 15(14), 5212. https://doi.org/10.3390/en15145212
A Agrapetidou, P Charonyktakis, P Gogas, T Papadimitriou, I Tsamardinos (2021). “An AutoML application to forecasting bank failures”. Applied Economics Letters 28(1), 5-9. https://doi.org/10.1080/13504851.2020.1725230
P Gogas, T Papadimitriou, E Sofianos (2021). “Forecasting Unemployment in the Euro‐Area with Machine Learning”. Journal of Forecasting 41(3), 551-566. https://doi.org/10.1002/for.2824
D Mouchtaris, E Sofianos, P Gogas, T Papadimitriou (2021). “Forecasting Natural Gas Spot Prices with Machine Learning”. Energies 14(18), 5782. https://doi.org/10.3390/en14185782
P Gogas, T Papadimitriou (2021). “Machine learning in economics and finance”. Computational Economics 57(1), 1-4. https://doi.org/10.1007/s10614-021-10094-w
V Plakandaras, P Gogas, T Papadimitriou (2021). “Gold against the machine”. Computational Economics 57(1), 5-28. https://doi.org/10.1007/s10614-020-10019-z
E Stathakis, T Papadimitriou, P Gogas (2021). “Forecasting price spikes in electricity markets”. Review of Economic Analysis(REA) 13(1), 65-87. https://doi.org/10.15353/rea.v13i1.1822
T Papadimitriou, P Gogas, F Gkatzoglou (2020). “The evolution of the cryptocurrencies market: A complex networks approach”. Journal of Computational and Applied Mathematics 376, 112831. https://doi.org/10.1016/j.cam.2020.112831
V Plakandaras, P Gogas, T Papadimitriou, E Doumpa, M Stefanidou (2020). “Forecasting Credit Ratings of EU Banks”. International Journal of Financial Studies 8(3), 49. https://doi.org/10.3390/ijfs8030049
T Papadimitriou, P Gogas, AF Athanasiou (2020). “Forecasting S&P 500 spikes: an SVM approach”. Digital Finance 2, 241-258. https://doi.org/10.1007/s42521-020-00024-0
A Dimitriadou, P Gogas, T Papadimitriou, V Plakandaras (2019). “Oil Market Efficiency under a Machine Learning Perspective”. Forecasting 1(1), 157-168. https://doi.org/10.3390/forecast1010011
V Plakandaras, P Gogas, T Papadimitriou, R Gupta (2019). “A re-evaluation of the term spread as a leading indicator”. International Review of Economics & Finance 64, 476-492. https://doi.org/10.1016/j.iref.2019.07.002
V Plakandaras, T Papadimitriou, P Gogas (2019). “Forecasting transportation demand for the US market”. Transportation Research Part A: Policy and Practice 126, 195-214. https://doi.org/10.1016/j.tra.2019.06.008
P Gogas, T Papadimitriou, E Sofianos (2019). “Money Neutrality, Monetary Aggregates and Machine Learning”. Algorithms 12(7), 137. https://doi.org/10.3390/a12070137
V Plakandaras, P Gogas, T Papadimitriou (2018). “The effects of geopolitical uncertainty in forecasting financial markets: A machine learning approach”. Algorithms 12(1), 1. https://doi.org/10.3390/a12010001
P Gogas, I Pragidis, BM Tabak (2018). “Asymmetric effects of monetary policy in the US and Brazil”. The Journal of Economic Asymmetries 18, e00108. https://doi.org/10.1016/j.jeca.2018.e00108
P Gogas, T Papadimitriou, A Agrapetidou (2018). “Forecasting bank failures and stress testing: A machine learning approach”. International Journal of Forecasting 34(3), 440-455. https://doi.org/10.1016/j.ijforecast.2018.01.009
V Plakandaras, R Gupta, P Gogas, T Papadimitriou (2018). “Macroeconomic uncertainty, growth and inflation in the Eurozone: a causal approach”. Applied Economics Letters 25(14), 1029-1033. https://doi.org/10.1080/13504851.2017.1391996
P Gogas, R Gupta, SM Miller, T Papadimitriou, G Sarantitis (2017). “Income inequality: A state-by-state complex network analysis”. Physica A: Statistical Mechanics and its Applications 483, 423-437.
V Plakandaras, P Gogas, T Papadimitriou, R Gupta (2017). “The Informational Content of the Term Spread in Forecasting the US Inflation Rate: A Nonlinear Approach”. Journal of Forecasting 36(2), 109-121. https://doi.org/10.1002/for.2417
P Gogas, T Papadimitriou, MA Matthaiou (2016). “Bank supervision using the Threshold-Minimum Dominating Set”. Physica A: Statistical Mechanics and its Applications 451, 23-35. https://doi.org/10.1016/j.physa.2015.12.149
N Antonakakis, P Gogas, T Papadimitriou, GA Sarantitis (2016). “International business cycle synchronization since the 1870s: Evidence from a novel network approach”. Physica A: Statistical Mechanics and its Applications 447, 286-296. https://doi.org/10.1016/j.physa.2015.12.029
T Papadimitriou, P Gogas, GA Sarantitis (2016). “Convergence of European Business Cycles: A Complex Networks Approach”. Computational Economics 47(2), 97-119. https://doi.org/10.1007/s10614-014-9474-3
T Papadimitriou, P Gogas, V Plakandaras (2016). “Testing Exchange Rate Models in a Small Open Economy: an SVR Approach”. Bulletin of Applied Economics 3(2), 9-29.
GA Sarantitis, T Papadimitriou, P Gogas (2016). “A Network Analysis of the United Kingdom’s Consumer Price Index”. Computational Economics 51(2), 173-193. https://doi.org/10.1007/s10614-016-9625-9
V Plakandaras, T Papadimitriou, P Gogas (2015). “Forecasting daily and monthly exchange rates with machine learning techniques”. Journal of Forecasting 34(7), 560-573. https://doi.org/10.1002/for.2354
V Plakandaras, P Gogas, R Gupta, T Papadimitriou (2015). “US inflation dynamics on long-range data”. Applied Economics 47(36), 3874-3890. https://doi.org/10.1080/00036846.2015.1019039
P Gogas, T Papadimitriou, E Chrysanthidou (2015). “Yield Curve Point Triplets in Recession Forecasting”. International Finance 18(2), 207-226. https://doi.org/10.1111/infi.12067
I Pragidis, P Gogas, V Plakandaras, T Papadimitriou (2015). “Fiscal shocks and asymmetric effects: A comparative analysis”. The Journal of Economic Asymmetries 12(1), 22-33. https://doi.org/10.1016/j.jeca.2014.10.003
P Gogas, I Pragidis (2015). “Are there asymmetries in fiscal policy shocks?”. Journal of Economic Studies 42(2), 303-321. https://doi.org/10.1108/jes-04-2013-0059
P Gogas, T Papadimitriou, M Matthaiou, E Chrysanthidou (2015). “Yield Curve and Recession Forecasting in a Machine Learning Framework”. Computational Economics 45(4), 635-645. https://doi.org/10.1007/s10614-014-9432-0
V Plakandaras, R Gupta, P Gogas, T Papadimitriou (2015). “Forecasting the US real house price index”. Economic Modelling 45, 259-267. https://doi.org/10.1016/j.econmod.2014.10.050
V Plakandaras, T Papadimitriou, P Gogas, K Diamantaras (2015). “Market sentiment and exchange rate directional forecasting”. Algorithmic Finance 4(1-2), 69-79. https://doi.org/10.3233/af-150044
T Papadimitriou, P Gogas, E Stathakis (2014). “Forecasting energy markets using support vector machines”. Energy Economics 44, 135-142. https://doi.org/10.1016/j.eneco.2014.03.017
P Gogas, V Plakandaras, T Papadimitriou (2014). “Public debt and private consumption in OECD countries”. The Journal of Economic Asymmetries 11, 1-7. https://doi.org/10.1016/j.jeca.2014.03.001
P Gogas, T Papadimitriou, A Agrapetidou (2014). “Forecasting bank credit ratings”. The Journal of Risk Finance 15(2), 195-209. https://doi.org/10.1108/jrf-11-2013-0076
A Serletis, P Gogas (2014). “Divisia Monetary Aggregates, the Great Ratios, and Classical Money Demand Functions”. Journal of Money, Credit and Banking 46(1), 229-241. https://doi.org/10.1111/jmcb.12103
T Papadimitriou, P Gogas, BM Tabak (2013). “Complex networks and banking systems supervision”. Physica A: Statistical Mechanics and its Applications 392(19), 4429-4434. https://doi.org/10.1016/j.physa.2013.05.013
P Gogas, T Papadimitriou, G Sarantitis (2013). “Testing purchasing power parity in a DFA rolling Hurst framework: the case of 23 OECD countries”. Applied Financial Economics 23(17), 1399-1406. https://doi.org/10.1080/09603107.2013.829196
P Gogas (2013). “Business cycle synchronisation in the European Union: The effect of the common currency”. OECD Journal: Journal of Business Cycle Measurement and Analysis 2013(1), 1-14.
A Serletis, K Istiak, P Gogas (2013). “Interest Rates, Leverage, and Money”. Open Economies Review 24(1), 51-78. https://doi.org/10.1007/s11079-012-9253-5
E Chrysanthidou, P Gogas, T Papadimitriou (2013). “Optimum Currency Areas within the US and Canada: A Data Analysis Approach”. Journal of Computational Optimization in Economics and Finance 5(1), 41.
T Papadimitriou, P Gogas, V Plakandaras, JC Mourmouris (2013). “Forecasting the insolvency of US banks using Support Vector Machines (SVMs) based on local learning feature selection”. International Journal of Computational Economics and Econometrics 3(1-2), 83-90. https://doi.org/10.1504/ijcee.2013.056267
P Gogas, T Papadimitriou, E Takli (2013). “Comparison of simple sum and Divisia monetary aggregates in GDP forecasting: a support vector machines approach”. Economics Bulletin 33(2), 1101-1115.
A Serletis, AG Malliaris, MJ Hinich, P Gogas (2012). “Episodic nonlinearity in leading global currencies”. Open Economies Review 23(2), 337-357. https://doi.org/10.1007/s11079-010-9194-9
P Gogas, JC Mourmouris, T Papadimitriou (2012). “Economic Viability and Macroeconomic Impact of the Burgas-Alexandroupolis Pipeline”. International Journal of Economics and Management Engineering 2(1).
P Gogas, I Pragidis (2012). “GDP trend deviations and the yield spread: the case of eight EU countries”. Journal of Economics and Finance 36(1), 226-237. https://doi.org/10.1007/s12197-011-9176-9
D Chionis, P Gogas, I Pragidis (2010). “Predicting European Union recessions in the euro era: The yield curve as a forecasting tool of economic activity”. International Advances in Economic Research 16(1), 1-10. https://doi.org/10.1007/s11294-009-9247-2
P Gogas, A Serletis (2010). “Forecast evaluation in daily commodities futures markets”. International Journal of Financial Markets and Derivatives 1(2), 155-168. https://doi.org/10.1504/ijfmd.2010.032466
P Gogas, A Serletis (2009). “Forecasting in inefficient commodity markets”. Journal of Economic Studies 36(4), 383-392. https://doi.org/10.1108/01443580910973592
DO Cajueiro, P Gogas, BM Tabak (2009). “Does financial market liberalization increase the degree of market efficiency? The case of the Athens stock exchange”. International Review of Financial Analysis 18(1-2), 50-57. https://doi.org/10.1016/j.irfa.2008.11.004
A Serletis, P Gogas (2007). “The Feldstein-Horioka puzzle in an ARIMA framework”. Journal of Economic Studies 34(3), 194-210. https://doi.org/10.1108/01443580710772768
A Serletis, P Gogas (2004). “Long-horizon regression tests of the theory of purchasing power parity”. Journal of Banking & Finance 28(8), 1961-1985. https://doi.org/10.1016/j.jbankfin.2003.07.006
A Serletis, P Gogas (2000). “Purchasing power parity, nonlinearity and chaos”. Applied Financial Economics 10(6), 615-622. https://doi.org/10.1080/096031000437962
A Serletis, P Gogas (1999). “The North American natural gas liquids markets are chaotic”. The Energy Journal 20(1), 83-103.
A Serletis, P Gogas (1997). “Chaos in East European black market exchange rates”. Research in Economics 51(4), 359-385. https://doi.org/10.1006/reec.1997.0050
P Gogas (1997). “On the construction of personal, corporate and effective overall marginal tax rates for Canada (1977-1992)”. The Saskatchewan Economic Journal 1(1), 23-32.
E Sofianos, T Papadimitriou, P Gogas (2023). “Forecasting inflation spikes with machine learning”. Encyclopedia of Monetary Policy, Financial Markets and Banking, Elsevier. https://doi.org/10.2139/ssrn.4610424
T Papadimitriou, P Gogas, GA Sarantitis (2014). “European Business Cycle Synchronization: A Complex Network Perspective”. Network Models in Economics and Finance, 265-275. https://doi.org/10.1007/978-3-319-09683-4_13
T Papadimitriou, P Gogas, G Sarantitis (2014). “Business Cycle Convergence: A Survey of Methods and Models”. Mathematics Without Boundaries: Surveys in Interdisciplinary Research, 447-469.
P Gogas, T Papadimitriou, MA Matthaiou (2014). “A novel Banking Supervision Method using the Minimum Dominating Set”. Network Models in Economics and Finance, 277-286.
P Gogas, T Papadimitriou (2012). “The Burgas–Alexandroupolis Pipeline: Macroeconomic Impact for Greece”. Greece's Horizons: Reflecting on the Country's Assets and Capabilities, 187-200. https://doi.org/10.1007/978-3-642-34534-0_15
P Gogas, A Serletis (2005). “The revenue smoothing hypothesis in an ARIMA framework: Evidence from the United States”. in C. Diebolt, C. Kyrtsou et al.(eds.), New Trends in Macroeconomics, Springer.
J Francis, P Tsiartas, J Hreinsson, M Andersson, J Hermansson, P Gogas, T Papadimitriou, C Kärrberg, M Brännström, R Akouri (2025). “O-016 Semen human papilloma virus and in vitro fertilization: Machine learning insights into infection prevalence and embryologic outcomes”. Human Reproduction 40(Supplement_1), deaf097. 016. https://doi.org/10.1093/humrep/deaf097.016
E Stathakis, P Gogas, T Papadimitriou (2015). “Using multiclass Support Vector Machines to forecast the occurrence of price spikes in the German electricity market”. International Conference on Business & Economics of the Hellenic Open University.
P Gogas, T Papadimitriou, M Matthaiou (2015). “Efficient Supervision of Banking Networks using the Threshold-Minimum Dominating Set (T-MDS): The case of Brazil”. International Conference on Business & Economics of the Hellenic Open University.
P Gogas, T Papadimitriou, GA Sarantitis (2015). “Network Analysis for Central Banks”. International Conference on Business & Economics of the Hellenic Open University.
T Papadimitriou, P Gogas, GA Sarantitis (2013). “An analysis of the US Gross State Product co-movement using the Minimum Dominating Set”. 2013 IEEE Global Conference on Signal and Information Processing, 1145-1145. https://doi.org/10.1109/globalsip.2013.6737108
P Gogas (2026). “4Cast Lab: Open-Source App for Machine Learning & Statistical Analysis”. arXiv preprint arXiv:2610.16800.
A Afonso, J Alves, P Gogas, T Papadimitriou (2026). “Sovereign Ratings and Risk Pricing, Agency Divergences in the European Union”. CESifo Working Paper No. 12832. https://doi.org/10.65864/rci08arf8l
T Papadimitriou, P Gogas, E Sofianos, N Giannakis, J Saadaoui (2025). “Do International Reserve Holdings Still Predict Economic Crises? Insights from Recent Machine Learning Techniques”. SSRN Working Paper. https://doi.org/10.2139/ssrn.5237256
A Dimitriadou, A Agrapetidou, P Gogas, T Papadimitriou (2021). “Credit Rating Agencies: Evolution or Extinction?”. SSRN Working Paper. https://doi.org/10.2139/ssrn.3935710
P Gogas, T Papadimitriou, D Karagkiozis (2018). “The Fama 3 and Fama 5 factor models under a machine learning framework”. Rimini Centre for Economic Analysis.
E Stathakis, T Papadimitriou, P Gogas (2017). “Forecasting electricity price spikes using Support Vector Machines”. SSRN Working Paper. https://doi.org/10.2139/ssrn.2990407
V Plakandaras, P Gogas, T Papadimitriou, R Gupta (2016). “The Term Premium as a Leading Macroeconomic Indicator”. University of Pretoria, Department of Economics.
T Papadimitriou, P Gogas, G Sarantitis, M Matthaiou (2014). “Analysis of Network Topology Using the Threshold-Minimum Dominating Set”. SSRN Working Paper. https://doi.org/10.2139/ssrn.2435488
P Gogas, T Papadimitriou, E Chrysanthidou (2014). “The Slope and the Curvature of the Yield Curve in Recession Forecasting”. SSRN Working Paper. https://doi.org/10.2139/ssrn.2409122
P Gogas, V Plakandaras, T Papadimitriou (2014). “Common Stochastic Trends and the Ricardian Equivalence in the OECD”. SSRN Working Paper. https://doi.org/10.2139/ssrn.2389389
T Papadimitriou, P Gogas, V Plakandaras (2014). “Forecasting the NOK/USD Exchange Rate with Machine Learning Techniques”. SSRN Working Paper. https://doi.org/10.2139/ssrn.2387710
T Papadimitriou, P Gogas, G Sarantitis (2014). “Analyzing the co-movements of the US Gross State Product Growth with the use of the Minimum Dominating Set”. SSRN Working Paper. https://doi.org/10.2139/ssrn.2386565
V Plakandaras, P Gogas, T Papadimitriou (2011). “Directional Forecasting in financial time series using Support Vector machines: the USD/Euro exchange rate”. SSRN Working Paper. https://doi.org/10.2139/ssrn.2387655
P Gogas, I Pragidis (2010). “Does the interest risk premium predict housing prices”. DUTH Research Papers in Economics 1-2010, Democritus University of Thrace.
P Gogas (2000). “Purchasing Power Parity, balanced growth, and volatility forecasting: An application of recent developments in time series analysis”. University of Calgary.
P Gogas (1996). “The Canadian Laffer Curve”. Master's Thesis, University of Saskatchewan.