YEAR

2007

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Econometrics , Theory

Marginal Comparisons with the Best and the Efficiency Measurment Problem

In this paper we are interested in the problem of comparisons with the best population. One case where comparisons with the best arise naturally is the measurement of productive efficiency.

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Labour Economics , Applied Research

And the House Goes to Ethnic Discrimination in the Greek Rental Market

The current research contributes to two areas that have attracted scarce research attention in Greece: the experimental investigation of housing discrimination and discrimination by ethnicity. The results of this study have implications for understanding some of the enduring patterns of ethnic discrimination in the housing market.

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Macroeconomics , Policy

Monetary Policy, Rule-of-Thumb Consumers and External Habits: An International Comparison

This paper extends the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model to agents who cannot smooth consumption (i.e. spenders) and are affected by external consumption habits.

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Production Economics , Theory

An Irreversible Investment Model with a Stochastic Production Capacity and Fixed Plus Proportional Adjustment Costs

This paper studies the problem of a company which expands its stochastic production capacity in irreversible investments by purchasing capital and faces both fixed and proportional costs.

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Labour Economics , Applied Research

Dual Life for Equal Labour? Sexual Orientation Discrimination in the Greek Labour Market

The current research contributes to the small academic literature on the economics of discrimination according to sexual orientation in Europe.

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Macroeconomics , Applied Research

Purchasing Power Parity Among Developing Countries and Their Trade-Partners: Evidence from Selected CEECs and Implications for Their Membership of EU.

The purpose of the paper is twofold. Firstly, we test the validity of the PPP hypothesis for selected CEEC (Czech Republic; Hungary; Poland and Slovak Republic). Secondly, we attempt to define those countries' trade linkages between Euro Area; US and the rest of the world.

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Econometrics , Theory

On the Accuracy of Bootstrap Confidence Intervals for Efficiency Levels in Stochastic Frontier Models with Panel Data

We study the construction of confidence intervals for efficiency levels of individual firms in stochastic frontier models with panel data.

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Econometrics , Theory

Panel Data Models with Multiple Time-Varying Individual Effects

We propose a generalized methods of moments procedure by which both the number of factors and the regression coefficients can be consistently estimated. Some important identification issues are also discussed. Our simulation results indicate that the proposed methods produce reliable estimates.

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Labour Economics , Theory

Technology and Labor Regulations

Many low skilled jobs have been substituted away for machines in Europe, or eliminated, much more so than in the US, while technological progress at the “top”, i.e. at the high-tech sector, is faster in the US than in Europe. This paper suggests that the main difference between Europe and the US in this respect is their different labor market policies

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Industrial Organization , Policy

Corporate Social Responsibility in Oligopoly

This paper studies firms owners' incentives to engage in Corporate Social Responsibility (CSR) activities in an oligopolistic market, in a strategic delegation and vertical product differentiation context.

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Production Economics , Applied Research

Measuring Technical Efficiency in the Stochastic Varying Coefficient Frontier Model

Due to the assumption that the best practice methods refer to each input separately instead of the whole set of inputs used by a firm, the benchmark technology as defined in the stochastic varying coefficient frontier model may be infeasible and theoretically improper whenever the maximum response coefficients are not coming from the same production unit. To overcome this problem we suggest an alternative procedure for measuring output-oriented and input-specific technical efficiency inspired from the maximum likelihood formulation of the non-neutral frontier model.

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Economic Growth , Applied Research

Military Spending and the Growth-Maximizing Allocation of Public Capital: A Cross-Country Empirical Analysis

In this paper drawing from the theoretical framework developed by Shieh et al., (2002), we present an endogenous growth model to empirical analyze the growth maximizing allocation of public capital among military spending and investment in infrastructure.

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Production Economics , Theory

Measuring the Accountability of Advertising Expenses in the Presence of Sales Cost Inefficiency and Marketing Spillovers

This paper develops a tractable theoretical framework for analyzing the substitutability between different advertising media, the extent of marketing spillovers in the market, the allocative efficiency of advertising spending, and the sources of total advertising productivity and sales growth.

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Macroeconomics , Applied Research

Testing the Purchasing Power Parity: Evidence from the New EU Countries

This paper examines the validity of the purchasing power parity between each of the twelve new EU countries vis-à-vis the Eurozone.

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Macroeconomics , Applied Research

Estimating the Equilibrium Effective Exchange Rate for Potential EMU members

In this study, we attempt to examine the possibility of emergence of significant fluctuations of the exchange rates in the future for the candidate EMU countries.

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Labour Economics , Applied Research

Ethnic Discrimination in the Greek Labour Market: Occupational Access, Insurance Coverage, and Wage Offers

The paper investigates whether low skilled male Albanians face unequal treatment in the Greek labour market, two years after the national adoption of the European anti-discrimination employment legislation.

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Industrial Organization , Descriptive Analysis

Mergers and Acquisitions Motives

In this paper a broad list of different merger motives that has been proposed in the literature are analyzed and compared.

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Industrial Organization , Theory

Endogenous Strategic Managerial Incentive Contracts

This paper studies the endogenous structure of incentive contracts that firms' owners offer to their managers, when these contracts are linear combinations either of own profits and own revenues, or of own profits and competitor's profits or, finally, of own profits and own market share.

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Industrial Organization , Theory

Union Structure and Firms Incentives for Cooperative R&D Investments

This paper investigates the impact of alternative unionization structures on firms' incentives to spend on cost-reducing R&D activities as well as to form a Research Joint Venture, in the presence of R&D spillovers.

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Econometrics , Theory

Backtesting VaR Models: An Expected Shortfall Approach

Our study sheds light on the issue of volatility forecasting under risk management environment and on the evaluation procedure of various risk models.

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Macroeconomics , Applied Research

Nonlinear Exchange Rate Adjustment in the Enlarged Eurozone. Evidence and Implications for Candidate Countries.

This paper sheds light on the importance of the validity of PPP hypothesis for the accessing process of the candidate countries towards EMU.

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Econometrics , Data Analytics

Conventional Nonlinear Relationships between GDP, Inflation and Stock Market Returns. An Investigation for the Greek Economy

This paper is using simple nonlinearity tests to provide evidence of a positive and significant causal relationship going from stock market development to economic growth in Greece during the last 10 years.

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