CRETE 2016

Conference Program

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Related Sessions: Greek Stochastics, July 10-13

TUESDAY, July 12

12:30 – 13:00 Registration

13:00 – 15:00

Parallel Session A: PhD Presentations I: International and Labor Economics Chair: Sophia Dimelis (AUEB-Informatics)

Chrysanthi Rapti (Birkbeck, Univ. of London) “The Responses of European Labour Markets to Fiscal Austerity”

Omiros Kouvavas (Warwick) “Evaluating the Marital Contract Effect: A Natural Experiment” [with Andreas Ferrara (Warwick)]

Stefania Strantza (Concordia Univ.) “International Environmental Agreements: Stability under Heterogeneity” [with Effrosyni Diamantoudi (Concordia Univ.) and Eftichios Sartzetakis (Univ. of Macedonia)]

Chara Vavoura (Univ. of Nottingham) “Liberalising Trade in the Shadow of Superstar Firms”

Parallel Session B: PhD Presentations II: Finance and Markets Chair: John Tsoukalas (Univ. of Glasgow)

Panagiotis Karavitis (Univ. of Cyprus) “Risky Profit Shifting” [with Manthos Delis (Univ. of Surrey) and Iftekhar Hasan (Fordham Univ.)]

Leoni Eleni Oikonomikou (Univ. of Göttingen) “Modeling Financial Market Volatility in Transition Markets: A Multivariate Case”

Thanassis Triantafyllou (Univ. of Athens) “Forecasting Extreme Events in Agricultural Commodity Markets” [with George Dotsis (Univ. of Athens) and Alexander Sarris (Univ. of Athens)]

Andreas Tryphonides (EUI) “Improving Inference for Dynamic Economies with Frictions - The Role of Qualitative Survey Data”

15:00 – 15:30 Coffee Break

15:30 – 17:30

Parallel Session A: PhD Presentations III: Industrial Organization Chair: Konstantinos Papadopoulos (Aristotle Univ. of Thessaloniki)

Konstantinos Charistos (Univ. of Macedonia) “Optimal Allocation of Evidence Among Cartelists under a Leniency Program: How Many Informants Are Enough?” [with Christos Constantatos (Univ. of Macedonia)]

Elpiniki Bakaouka (AUEB-DIEES) “Vertical Licensing, Input Pricing, and Entry” [with Chrysovalantou Milliou (AUEB-DIEES)]

Georgios Petropoulos (Bruegel and Toulouse School of Economics) “Optimal Selling Mechanisms for On-line Services I: Price Discrimination and the Risk of Interruption”

Panagiotis Skartados (Univ. of Crete) “Observable versus Secret Contracts. Disclosure Equilibrium in Vertically Related Markets”

Parallel Session B: PhD Presentations IV: Econometrics and Applications Chair: Ioanna Konstantakopoulou (KEPE)

Stavroula Yfanti (Brunel Univ.) “Stylized Facts for Extended HEAVY Models: The Importance of Asymmetries, Power Transformations, Hyperbolic Long Memory and Structural Breaks” [with Menelaos Karanasos (Brunel Univ.)]

Katerina Petrova (Queen Mary Univ. of London) “A Quasi-Bayesian Nonparametric Approach to Time Varying Parameter VAR Models”

Fotini Anna Thoma (AUEB-Finance) “Rational Inattention in Greek Consumer Inflation Forecasts” [with Konstantinos Drakos (AUEB-Finance) and Panagiotis Konstantinou (AUEB-DIEES)]

Alexandra Fotiou (Bocconi Univ.) “Non-Linearities and Fiscal Policy”

17:30 – 20:00

Parallel Session A: PhD Presentations V: Health, Labor and Environmental Economics Chair: Georgios Farfaras (Concordia Univ.)

Anastasia Driva (Univ. of Munich) “Bismarck’s Health Insurance and the Mortality Decline” [with Erik Hornung (Max Planck Institute for Tax Law and Public Finance) and Stefan Bauernschuster (Univ. of Passau)]

Sofoklis Goulas (Univ. of North Carolina at Chapel Hill) “Swine Flu, Class Attendance and School Performance” [with Rigissa Megalokonomou (Warwick)]

Panagiotis Margaris (Univ. of Manchester) “Health and Optimal Taxation”

Alexandros Karakitsios (AUEB-DIEES) “The Effect of Subminimum Wage Introduction on Employment in Greece”

Ioanna Pantelaiou (AUEB-DIEES) “Intra (Inter) Regional Effects of Environmental Policies as NTMs in an Economic Union” [with Panos Hatzipanayotou (AUEB-DIEES), Panagiotis Konstantinou (AUEB-DIEES) and Anastasios Xepapadeas (AUEB-DIEES)]

Parallel Session B: Economic Policy Chair: Kostas Peppas (IOBE)

Stelios Sakkas (AUEB-Econ) “On the Composition of Public Spending and Taxes” [with George Economides (AUEB-DIEES), Hyun Park (Kyung Hee Univ.) and Apostolis Philippopoulos (AUEB-Econ)]

Sotirios Kokas (Univ. of Essex) “Enforcement Actions and the Structure of Loan Syndicates” [with Manthos Delis (Univ. of Surrey), Maria Iosifidi (Univ. of Surrey) and Dimitrios Xefteris (Univ. of Cyprus)]

Rigissa Megalokonomou (Warwick) “Social Interactions through Space and Time: Evidence from College Enrollment” [with Sofoklis Goulas (Univ. of North Carolina at Chapel Hill)]

Efrosini Siougle (AUEB-Informatics) “Does ISO 9001 Matter for Firm Performance? A Group Analysis of Greek Listed Firms” [with Claire Economidou (Univ. of Piraeus), Kyriakos Drivas (AUEB-DIEES) and Sophia Dimelis (AUEB-Informatics)]

Lefteris Roubanis (AUEB-Econ) “Debt Consolidation: Aggregate and Distributional Implications”

WEDNESDAY, July 13

9:00 – 9:15 Welcome

9:15 – 11:15 Public and Political Economy Chair: Yannis Ioannides (Tufts)

Christos Kotsogiannis (Univ. of Exeter) “On the Life Cycle Profile of Tax Evasion” [with Xavier Mateos-Planas (Queen Mary Univ. of London)]

Tasos Kalandrakis (Univ. of Rochester) “Bargaining in the EU Council of Ministers” [with Gleason Judd (Univ. of Rochester)]

Manos Matsaganis (Politechnico di Milano) “Disentangling Annuities and Transfers in Pension Benefits: Evidence from Greece” [with Chrysa Leventi (Univ. of Essex)]

11:15 – 12:45 Microeconomic Theory and Applications Chair: Emmanuel Petrakis (Univ. of Crete)

Jakša Cvitanić (Caltech) “Dynamic Programming Approach to Principal-Agent Problems” [with Dylan Possamaï (Université Paris Dauphine and École Polytechnique) and Nizar Touzi (École Polytechnique)]

Gonzalo Cisternas (MIT, Sloan School of Management) “Dynamic Oligopoly with Incomplete Information” [with Alessandro Bonatti (MIT Sloan) and Juuso Toikka (MIT)]

Theodore Papageorgiou (McGill Univ.) “Occupational Choice, Human Capital and Learning: A Multi-Armed Bandit Approach” [with Rafael Lopes de Melo (Univ. of Chicago)]

12:45 – 13:30 Lunch

13:30 – 15:00

Parallel Session A: Macroeconomics Chair: Spyros Skouras (AUEB-DIEES)

Antonis Adam (Univ. of Ioannina) “Sovereign Defaults and Political Regime Transitions” [with Kostas Karanatsis (Univ. of Ioannina)]

Marios Zachariadis (Univ. of Cyprus) “Inflation Expectations and Monetary Policy in Europe” [with Elena Andreou (Univ. of Cyprus) and Snezana Eminidou (Univ. of Cyprus)]

Leo Michelis (Ryerson Univ.) “A Compensating Variation Measure for Higher Income Taxes with Habits” [with Arman Mansoorian (York Univ.)]

Parallel Session B: Organizations Chair: Anna Hardman (Tufts)

Evangelia Chalioti (Yale) “Team-Based Compensation Contracts and Career Concerns”

Theodore Koutmeridis (Univ. of Glasgow) “Misallocation, Education Expansion and Wage Inequality”

Philippos Louis (Univ. of Technology Sydney) “Noisy Introspection in the '11-20' Game” [with Jacob Goeree (Univ. of Technology Sydney) and Jingjing Zhang (Univ. of Technology Sydney)]

15:00 – 15:25 Coffee Break

15:25 – 17:55

Parallel Session A: Finance Chair: Veni Arakelian (Piraeus Bank)

Anastasia Zervou (Texas A&M) “Firms' Financing, Labor Reallocation and the Distributional Role of Monetary Policy” [with Salem Abo-Zaid (Texas Tech Univ.)]

Michalis Rousakis (Oxford) “Endogenous Liquidity Constraints and Domestic Capital Controls in a Small Open Economy” [with Romanos Priftis (European Commission, DG ECFIN)]

Spyridon Vrontos (Univ. of Essex) “Out-of-Sample Equity Premium Prediction: A Complete Subset Quantile Regression Approach” [with Loukia Meligkotsidou (Univ. of Athens), Ekaterini Panopoulou (Univ. of Kent) and Ioannis Vrontos (AUEB-Statistics)]

George Kouretas (AUEB-BA) “Financial Crisis and Tobin Taxation: An Event Analysis” [with Theodoros Bratis (AUEB-BA) and Nikiforos Laopodis (ALBA)]

Parallel Session B: Environment, Energy and Politics Chair: Maria Alipranti (Duesseldorf Institute for Competition Economics)

Kostas Matakos (King's College London) “Waking up to a Golden Dawn: The Effect of the Exposure to the Refugee Crisis on Political Behaviour and Support for Extreme-right” [with Elias Dinas (Oxford), Dominik Hangartner (LSE) and Dimitrios Xefteris (Univ. of Cyprus)]

Panagiotis Fotis (Hellenic Competition Commission) “The Relationship between Energy Demand and Real GDP Growth Rate: The Role of Price Asymmetries and Spatial Externalities within 34 Countries across the Globe” [with Sotiris Karkalakos (Univ. of Piraeus and DePaul Univ.) and Dimitrios Asteriou (Οxford Brookes Univ.)]

Marina-Selini Katsaiti (United Arab Emirates Univ.) “Migration and Happiness: Evidence from Germany” [with Mrittika Shamsuddin (United Arab Emirates Univ.)]

Christos Constantatos (Univ. of Macedonia) “Green Product Innovation in the Context of Habit Formation” [with Markus Herrmann (Université Laval) and Eftichios Sartzetakis (Univ. of Macedonia)]

Eftichios Sartzetakis (Univ. of Macedonia) “Green Consumers and the Choice between Emission and Output Taxes” [with Christos Constantatos (Univ. of Macedonia) and Christos Pargianas (Brown Univ.)]

THURSDAY, July 14

9:00 – 9:45 Michael Magdalinos Lecture Chair: Emmanuel Petrakis (Univ. of Crete)

Myrto Kalouptsidi (Harvard) “Search Frictions in the Global Shipping Industry” [with Theodore Papageorgiou (McGill Univ.) and Giulia Brancaccio (Princeton)]

9:45 – 12:00 Macro, Finance and Banking Chair: Harris Dellas (Univ. of Bern)

Pedro Teles (Banco de Portugal, Catolica Lisbon SBE and CEPR) “More on the Taxation of Capital” [with Varadarajan Chari (Univ. of Minnesota) and Juan Pablo Nicolini (Federal Reserve Bank of Minneapolis)]

Hubert Kempf (École Normale Supérieure de Cachan, Sorbonne and Paris School of Economics) “Regulatory Arbitrage and the Efficiency of Banking Regulation” [with Pierre Boyer (École Polytechnique)]

Costas Azariadis (Washington Univ., St. Louis and Fed of St. Louis) “Corruption in Growth Theory” [with Yannis Ioannides (Tufts)]

Michael Haliassos (Goethe Univ. Frankfurt) “Financial Literacy Externalities” [with Thomas Jansson (Sveriges Riksbank) and Yigitcan Karabulut (Erasmus Univ.)]

12:00 – 12:15 Coffee Break

12:15 – 14:15

Parallel Session A: Dynamics and Growth Chair: Konstantine Gatsios (AUEB-Econ)

Ishaq Nadiri (NYU) “The Impact of Information Technology and Intangible Capital on Growth and Productivity”

Dimitris Christelis (Univ. of Naples Federico II) “Healthy Enough to be Conservative” [with Dimitris Georgarakos (ECB and Univ. of Leicester) and Alexandros Zangelidis (Univ. of Aberdeen)]

George Bitros (AUEB-Econ) “Monetary Policy, Market Structure and the Income Shares in the U.S.”

Vanghelis Vassilatos (AUEB-Econ) “Market and Political Power Interactions in Greece: An Empirical Investigation” [with Tryphon Kollintzas (AUEB-Econ), Dimitrios Papageorgiou (Bank of Greece) and Efthymios Tsionas (AUEB-Econ)]

Parallel Session B: Political Economy, Macro and Choice Chair: Kristis Hassapis (Univ. of Cyprus)

Ioanna Grypari (Max Planck Institute for Research on Collective Goods) “The Demand for Politicians: Campaigning and Voting in US Presidential Elections”

Nikitas Konstantinidis (Cambridge) “Daring to Fail: When Bad Economic Management Can Be Electorally Rewarding” [with Elias Dinas (Oxford), Ignacio Jurado (Univ. of York) and Stephanie Walter (Univ. of Zurich)]

Dimitrios Xefteris (Univ. of Cyprus) “Unanimous Implementation: A Case for Approval Mechanisms” [with Matias Nunez (Université Paris Dauphine)]

Sotiris Georganas (City Univ. of London) “Strategic Sophistication and the Plebiscite”

14:15 – 15:00 Lunch

15:00 – 17:00

Parallel Session A: Economic Theory Chair: Theofanis Tsoulouhas (Univ. of California, Merced)

Rodrigo Velez (Texas A&M) “Sequential Preference Revelation in Incomplete Information Settings” [with James Schummer (Northwestern Univ.)]

Anastasios Dosis (ESSEC Business School, Paris) “On the Equilibria of Informed Principal Games with Interdependent Values”

Kyriakos Drivas (Agricultural Univ. of Athens) “International Trade and Patent Protection” [with Evangelia Chalioti (Yale), Sarantis Kalyvitis (AUEB-DIEES) and Margarita Katsimi (AUEB-DIEES)]

Angeliki Theophilopoulou (Univ. of Westminster) “The State Level Impact of Uncertainty Shocks” [with Haroon Mumtaz (Queen Mary, Univ. of London) and Laura Sunder-Plassmanny (Univ. of Copenhagen)] [Move back to Thursday]

Parallel Session B: Foreign Direct Investment and Trade Chair: George Dotsis (Univ. of Athens)

Valanta Milliou (AUEB-DIEES) “Vertical Foreign Direct Investment: Make, Sell and (Not) Buy” [with Joel Sandonis (Univ. of Alicante)]

Panagiotis Konstantinou (AUEB-DIEES) “Bilateral FDI Flows: The Role of Labor Market and Product Market Institutions”

George Pantelopoulos (Univ. of the Peloponnese) “Does Inward FDI Affected by the ISCED Levels of Education?”

Mark Melatos (Univ. of Sydney) “Camouflaged Trade Agreements” [with Elie Appelbaum (York Univ.)]

21:00 CONFERENCE DINNER (tentative)

FRIDAY, July 15

9:00 – 11:00 Emmanuel Drandakis Lectures: Economic Theory and Applications Chair: Costas Azariadis (Washington Univ., St. Louis)

Juuso Välimäki (Aalto Univ.) “Informal Auctions” [with Pauli Murto (Aalto Univ.)]

Costis Daskalakis (MIT) “Does Information Revelation Improve Revenue?”

Harris Dellas (Univ. of Bern) “Austerity” [with Dirk Niepelt (Univ. of Bern)]

11:00 – 11:15 Coffee Break

11:15 – 12:15 Book Overview “The Greek Economy Before and During the Crisis and Policy Options Going Forward” Co-Chairs: Nikos Vettas (AUEB-Econ and IOBE) and Dimitri Vayanos (LSE)

12:15 – 13:15 Macro and Debt Chair: Sarantis Kalyvitis (AUEB-DIEES)

Dimitri Vayanos (LSE) “The Analytics of the Greek Crisis” [with Pierre-Olivier Gourinchas (Berkeley) and Thomas Philippon (NYU Stern)]

Rigas Oikonomou (Université Catholique de Louvain) “Union Debt Management” [with Juan Equiza-Goñi (Univ. of Navarra) and Elisa Faraglia (Cambridge)]

13:15 – 14:15 Lunch

14:15 – 16:45

Parallel Session A: Econometrics and Applications Chair: Yannis Bilias (AUEB-DIEES)

Thanasis Stengos (Univ. of Guelph) “Persistence and Convergence: Some Further Results” [with Harun Özkan (Istanbul Bilgi Univ.) and Ege Yazgan (Istanbul Bilgi Univ.)]

Ekaterini Kyriazidoy (AUEB-Econ) “Panel Vector Autoregressions with Binary Data” [with Bo Honoré (Princeton)]

Tassos Magdalinos (Univ. of Southampton) “Hypothesis Testing under Matrix Normalisation” [with Peter C.B. Phillips (Yale)]

Menelaos Karanasos (Brunel Univ.) “Matrix Inequality Constraints for Vector Asymmetric Power HEAVY/GARCH/MEM Models and some New Mixture Formulations” [with Yu-Wei Hu (Remin Univ. of China) and Faek Menla Ali (Brunel Univ.)]

Ioannis Kasparis (Univ. of Cyprus) “Smooth Instrumental Variables: Unifying Inference when the Intensity of Persistence is Unknown” [with Peter C.B. Phillips (Yale)]

14:15 – 17:15

Parallel Session B: Applied Economics and Micro Policy Chair: Svetoslav Danchev (IOBE)

Petros Milionis (Univ. of Groningen) “Value Diversity and Regional Economic Development” [with Sjoerd Beugelsdijk (Univ. of Groningen) and Mariko Klasing (Univ. of Groningen)]

Nikolas Tsakas (Univ. of Cyprus) “The Effect of Entry on R&D Networks” [with Emmanuel Petrakis (Univ. of Crete)]

Panagiotis Nanos (Univ. of Sheffield) “Directed Search across Regional Labour Markets” [with Christian Schluter (Aix-Marseille Univ.)]

Sofronis Clerides (Univ. of Cyprus) “Market Response to Firm-Specific Shocks: The Arab Boycott of Danish Dairy Products” [with Alexis Antoniades (Georgetown Univ.)]

Konstantinos Serfes (Drexel Univ.) “Strategic Incentives for Innovations and Market Competition” [with Evangelia Chalioti (Yale)]

Sophia Dimelis (AUEB-Informatics) “The Growth Impact of Foreign Direct Investment: Do Regulatory and Technological Characteristics Matter?” [with Sotiris Papaioannou (KEPE)]

SATURDAY, July 16

9:00 – 10:30

Parallel Session A: International and Spatial Economics Chair: Marios Papaspyrou (Bank of Greece)

Panos Hatzipanayotou (AUEB-DIEES) “Destination vs. Origin-based Commodity Taxation in Large Open Economies with Unemployment” [with Fabio Antoniou (Humboldt Univ.) and Nikos Tsakiris (Univ. of Ioannina)]

Yannis Ioannides (Tufts) “Walled Cities in Late Imperial China” [with Junfu Zhang (Clark Univ.)]

Orestis Troumpounis (Lancaster Univ.) “Downsian Competition with Primaries and Valence Asymmetries” [with Dimitrios Xefteris (Univ. of Cyprus)]

Parallel Session B: Finance Chair: Constantinos Antoniou (Warwick Business School)

George Georgiadis (Northwestern Univ., Kellogg School of Management) “Risk-Taking and Simple Contracts” [with Daniel Barron (Northwestern Univ., Kellogg School of Management) and Jeroen Swinkels (Northwestern Univ., Kellogg School of Management)]

George Skiadopoulos (Queen Mary Univ. of London and Univ. of Piraeus) “Diversification Benefits of Commodities: A Stochastic Dominance Efficiency Approach” [with Charoula Daskalaki (Univ. of Piraeus) and Nikolas Topaloglou (AUEB-DIEES)]

George Skoulakis (Univ. of British Columbia) “Predicting International Equity Returns: The Importance of Disentangling the Shocks Embedded in Oil Price Changes” [with Haibo Jiang (Univ. of British Columbia) and Jinming Xue (Univ. of Maryland)]

10:30 – 10:45 Coffee Break

10:45 – 12:45

Parallel Session A: Macroeconomics Chair: Yiannis Dendramis (Univ. of Cyprus)

Anastasios Karantounias (Federal Reserve Bank of Atlanta) “Fiscal Austerity in Ambiguous Times” [with Axelle Ferriere (EUI)]

Nikos Benos (Univ. of Ioannina) “Okun’s Law in G-7 Economies: Evidence from a Copula-Based Approach” [with Athanasios Stavrakoudis (Univ. of Ioannina)]

Petros Varthalitis (Scottish Fiscal Commission and Univ. of Glasgow) “Fiscal Consolidation and its Cross-country Effects” [with Apostolis Philippopoulos (AUEB-Econ) and Vanghelis Vassilatos (AUEB-Econ)]

Paul-Adrien Hyppolite (École normale supérieure and Harvard) “Towards a Theory on the Causes of the Greek Depression: An Investigation of National Balance Sheet Data (1997-2014)”

Parallel Session B: Applied Microeconomics Chair: Christos Genakos (AUEB-Econ)

Christos Ioannou (Univ. of Southampton) “An Experimental Investigation of Poisson Coordination Games” [with Miltiadis Makris (Univ. of Southampton)]

Georges Siotis (Carlos III-Madrid and CEPR) “The Consequences of Generic Entry: Price, Promotional Effort and Market Share” [with Micael Castanheira (Université Libre de Bruxelles), Carmine Ornaghi (Univ. of Southampton) and Maria-Angeles de Frutos (Carlos III-Madrid)]

Andreas Drichoutis (Agricultural Univ. of Athens) “The Effect of an Ambient Citrus Scent on Willingness to Pay and Choice Under Risk” [with Varvara Kechagia (Agricultural Univ. of Athens)]

Chrysovalantis Vasilakis (Univ. of Bangor) “Globalized Market for Talents and Inequality: What Can Be Learnt from European Football?”

12:45 – 13:00 Coffee Break

13:00 – 15:00

Parallel Session A: Finance and Empirical Methods Chair: Loukia Meligkotsidou (Univ. of Athens)

Ioannis Vrontos (AUEB-Statistics) “Quantile Forecast Combinations in Realised Volatility Prediction” [with Loukia Meligkotsidou (Univ. of Athens), Ekaterini Panopoulou (Univ. of Kent) and Spyridon Vrontos (Univ. of Essex)]

Eleni Aristodemou (UCL) “Semiparametric Identification in Panel Data Discrete Response Models”

Katerina Karadimitropoulou (Univ. of East Anglia) “Financial Contagion in the Laboratory: Does Network Structure Matter?” [with John Duffy (Univ. of California, Irvine) and Melanie Parravano (Newcastle Univ.)]

Spyros Galanis (Univ. of Southampton) “Financial Complexity and Trade”

Parallel Session B: Exploring Microeconomic Decisions Chair: Vally Koubi (Univ. of Bern)

Theodore Tsekeris (KEPE) “Measurement and Determinants of Regional and Sectoral Efficiency in Greece” [with Sotiris Papaioannou (KEPE) and Chrysanthos Tassis (Democritus Univ. of Thrace)]

Dimitrios Minos (Univ. of Göttingen) “Understanding the Drivers of Overweight and Obesity in Developing Countries: The Case of South Africa” [with Iris Butzlaff (Univ. of Göttingen)]

Georgios Giotis (Univ. of Ioannina and TEI of Epirus) “The Impact of Employment Protection Legislation on Unemployment in OECD Countries: A Meta-Analysis” [with Michael Chletsos (Univ. of Ioannina)]

Antonios Proestakis (European Commission, Joint Research Center) “Positive Signal: Saving the Conditional Co-operators” [with Filippos Exadaktylos (Middlesex Univ.) and Antonio Espin Martin (Middlsex Univ.)]

15:00 – 16:00 Lunch - end of the conference

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