Welcome to CRETE 2017!

The 16th Conference on Research on Economic Theory and Econometrics

Milos, July 10-14, 2017


Conference on Research on Economic Theory and Econometrics


The conference

CRETE is an annual conference covering various areas of economic theory and econometrics. The program includes lectures in selected areas by senior invited faculty, as well as paper presentations by advanced PhD students and more junior faculty. The first meeting took place in 2002 and the series has since been continued each summer.

CRETE 2017

The 16th Conference on Research on Economic Theory and Econometrics will be held at Milos, from Monday, July 10, through Friday July 14, 2017.

The program includes talks by the following people, among others: David Andolfatto (St. Louis Fed), Costis Daskalakis (MIT), Jonathan Eaton (Penn State), John Geanakoplos (Yale), Przemyslaw Jeziorski (Berkeley), Philip Oreopoulos (Univ. of Toronto), Aureo de Paula (UCL), Patrick Rey (Toulouse School of Economics), Elie Tamer (Harvard), Pedro Teles (Banco de Portugal) and Juuso Välimäki (Aalto Univ.)

The financial support of our sponsors is gratefully acknowledged, as well as the hospitality of the Milos Conference Center - George Eliopoulos. The meeting is organized with the support of the Economics Department of the Athens University of Economics and Business and of the Foundation for Economic & Industrial Research (IOBE).


Conference program

You can download the conference prorgram in pdf fromat here.

12:30 - 13:00  Registration

13:00 - 15:00

Parallel Session A: Macroeconomics and Applications Chair: Sophia Dimelis (AUEB-Informatics)

Panagiotis Margaris (Univ. of Manchester) "The Macroeconomic Effects of Obesity: An Application to the UK"

Snezana Eminidou (Univ. of Cyprus) "Inflation Expectations and Monetary Policy Surprises" [with Marios Zachariadis (Univ. of Cyprus) and Elena Andreou (Univ. of Cyprus)]

Andromachi Partheniou (AUEB-DIEES) "Assessing the Effects of Government Spending Shocks: Evidence from OECD and Non-OECD Countries" [with Panagiotis Konstantinou (AUED-DIEES)]

Sophia Kyriakou (UCL) "Improved Estimation in Models with Intractable Likelihood" [with Ioannis Kosmidis (UCL)]

Parallel Session B: Environmental Economics and Trade Chair: Nikos Vettas (AUEB-Econ and IOBE)

Theodore Alysandratos (Royal Holloway, Univ. of London) "Rice Farming and the Emergence of Cooperative Behavior" [with Xiaoyu Zhou (Royal Holloway, Univ. of London) and Michael Naef (Royal Holloway, Univ. of London)]

Stefania Strantza (Concordia Univ.) "International Environmental Agreements - Stability with Transfers among Countries" [with Effrosyni Diamantoudi (Concordia Univ.)]

Ioannis Chatzigiatroudakis (AUEB-Econ) "International Environmental Agreements: How Optimal is the Optimal Sharing Scheme?" [with Eleftherios Zacharias (AUEB-Econ)]

Theodore Tsekeris (KEPE) "Network Dynamics of Global Value Chains"

15:00 - 15:30  Coffee Break

15:30 - 17:00

Parallel Session A: Microeconomic Theory Chair: Dimitrios Xefteris (Univ. of Cyprus)

Costas Cavounidis (Warwick) "An Impossibility Theorem in Repeated Games" [with Sambuddha Ghosh (Shanghai Univ. of Finance and Economics)]

Chara Tzanetaki (Warwick) "Endogenous Formation of Bilateral Partnerships with Homogeneous Types"

Vasileios Kotsidis (Univ. of Nottingham) "Endogenous Preference Formation - A Simple Theoretical Analysis"

Parallel Session B: Labor and Redistribution Chair: Yannis Ioannides (Tufts)

Ioanna Stylianou (Univ. of Cyprus) "Revisiting the Great Gatsby Curve" [with Andros Kourtellos (Univ. of Cyprus) and Charalambos Tsangarides (IMF)]

Eleni Kyrkopoulou (AUEB-Econ) "Do Immigrants Increase Crime? Evidence from Greece" [with Alexandros Louka (AUEB-Econ)]

Kyriakos Petrou (Univ. of Cyprus) "The Role of Social Identity in Preferences for Redistribution and Beliefs" [with Andros Kourtellos (Univ. of Cyprus)]

Parallel Session C: Finance and Decisions Chair: Dimitris Georgarakos (ECB)

Sotirios Kokas (Univ. of Essex) "Credit Market Spillovers: Evidence from Syndicated Loan Market Interconnectedness" [with Abhimanyu Gupta (Univ. of Essex) and Alex Michaelides (Imperial College London)]

Spyridon Vrontos (Univ. of Essex) "Survival Analysis of Hedge Funds" [with Ekaterini Panopoulou (Univ. of Kent)]

Leonidas Spiliopoulos (Max Planck Institute for Human Development) "Nonlinear Decision Weights or Moment-Based Preferences? A Model Competition Involving Described and Experienced Skewness" [with Ralph Hertwig (Max Planck Institute for Human Development)]

17:00 - 17:30 Coffee Break

17:30 - 19:30

Parallel Session A: Prices and Markets Chair: Alexandros Moustakas (AUEB-Econ)

Konstantinos Charistos (Univ. of Macedonia) "On Leniency and Markers in Antitrust" [with Christos Constantatos (Univ. of Macedonia)]

Panagiotis Skartados (Univ. of Crete) "Joint Ventures versus Franchising in Vertically Related Markets; A Bargaining Approach" [with Emmanuel Petrakis (Univ. of Crete)]

Ioannis Pinopoulos (Univ. of Macedonia) "Vertical Integration and Upstream Mergers"

Vasilis Syrgkanis (Microsoft Research New England) "Econometrics for Learning Agents" [with Denis Nekipelov (Univ. of Virginia) and Eva Tardos (Cornell Univ.)]

Parallel Session B: Globalization, Productivity and Risk Chair: Fotini Thomaidou (IOBE)

Dionysios Karavidas (Univ. of Kiel) "Globalization, Regional Productivity, Taste Bias and Internal Spatial Distribution"

Angelos Theodorakopoulos (Ghent Univ.) "Like Father Like Son: Technology Transfers and Productivity Effects from Firm Ownership" [with Bruno Merlevede (Gent Univ.)]

Panagiotis Karavitis (Univ. of Cyprus) "The Corporate Governance of Profit-shifting" [with Manthos Delis (Univ. of Surrey)]

Christos Argyropoulos (Univ. of Kent) "A Survey on Risk Forecast Evaluation" [with Ekaterini Panopoulou (Univ. of Kent)]


9:00 - 9:15      Welcome

9:15 - 11:15

Parallel Session A: Finance Chair: Harris Dellas (Univ. of Bern)

Elton Dusha (Univ. of Chile) "On the Dynamics of Liquidity" [with Alexandre Janiak (Pontifical Catholic Univ. of Chile)]

Dimitris Georgarakos (ECB) "Economic Policy Uncertainty and Stock Market Participation" [with Eniko Gabor (Deutsche Bundesbank)]

George Michailidis (Univ. of Florida) "A System-Wide Approach to Measure Connectivity in the Financial Sector" [with Sumanta Basu (Cornell Univ.), Sreyoshi Das (Univ. of Michigan at Ann Arbor) and Amiyatosh Purnanandam (Univ. of Michigan, Stephen M. Ross School of Business)]

Parallel Session B: Microeconomics and Applications Chair: Emmanuel Petrakis (Univ. of Crete)

Dimitrios Xefteris (Univ. of Cyprus) "Manipulating Reviews in Dark Net Markets to Reduce Crime" [with Panos Markopoulos (Univ. of Cyprus) and Chrysanthos Dellarocas (Boston Univ.)]

Georgia Kosmopoulou (Univ. of Oklahoma) "Dealer Networks in the World of Art" [with Dakshina G. De Silva (Lancaster Univ.), Marina Gertsberg (Maastricht Univ.) and Rachel Pownall (Maastricht Univ.)]

Myrto Kalouptsidi (Harvard) "Industrial Policy, Excess Capacity and Fragmentation in China" [with Panle Jia Barwick (Cornell Univ.) and Nahim Bin Zahur (Cornell Univ.)]

11:15 - 11:45  Coffee Break

11:45 - 13:00  Applied Microeconomics Lectures Chair: Christos Genakos (AUEB-Econ)

Elie Tamer (Harvard) "Inference on Parameters in Dynamic Panel Models" [with Shakeeb Khan (Duke Univ.)]

Aureo de Paula (UCL) "Identifying and Estimating Social Connections from Outcome Data" [with Imran Rasul (UCL) and Pedro Souza (Pontifical Catholic Univ. of Rio de Janeiro)]

13:00 - 14:00

Parallel Session A: Banking and Stock Returns Chair: Dimitris Christelis (Univ. of Naples Federico II)

Plutarchos Sakellaris (AUEB-Econ) "Optimal Bailout of Systemic Banks" [with Charles Nolan (Univ. of Glasgow) and John Tsoukalas (Univ. of Glasgow)]

Gikas Hardouvelis (Univ. of Piraeus) "Style Concentration in Ownership and Expected Stock Returns"

Parallel Session B: Incentives and Choices Chair: Myrto Kalouptsidi (Harvard)

George Georgiadis (Northwestern Univ., Kellogg School of Management) "Optimal Contracts with a Risk-Taking Agent" [with Daniel Barron (Northwestern Univ.), and Jeroen Swinkels (Northwestern Univ.)]

Kostas Matakos (King's College London) "Class vs. Identity: The Effect of Candidates' Race on the Inequality-Redistribution Nexus" [with Dimitrios Xefteris (Univ. of Cyprus)]

Parallel Session C: Labor Economics: Theory and Applications Chair: Manos Matsaganis (Politecnico di Milano and AUEB-DIEES)

Eugenia Vella (Univ. of Sheffield) "Fiscal Consolidation in a Low Inflation Environment: Pay Cuts versus Lost Jobs" [with Guilherme Bandeira (Bank of Spain), Evi Pappa (EUI) and Rana Sajedi (Bank of England)]

Georgios Giotis (TEI of Epirus) "Wage-Setting Institutions and Wages: A Meta-Regression Analysis" [with Michael Chletsos (Univ. of Ioannina)]

14:00 - 14:15  Poster Session

Dimitrios Bakas (Nottingham Trent Univ. and Rimini Centre for Economic Analysis - RCEA) "Volatility and Growth: A Not So-Straightforward Relationship" [with Georgios Chortareas (KingÕs College London and Univ. of Athens) and Georgios Magkonis (Univ. of Bradford)]

Antri Konstantinidi (Univ. of Cyprus) "Threshold Regression with Social Interactions" [with Andros Kourtellos (Univ. of Cyprus) and Yiguo Sun (Univ. of Guelph)]

Yakinthi Pavlaki (Univ. of Crete) "Overcoming Hypothetical Bias in Dichotomous Choice Contingent Valuation Studies: Some Preliminary Results" [with Margarita Genius (Univ. of Crete)]

George Pantelopoulos (Univ. of the Peloponnese) "Human Capital and Financial Education in Europe and OECD Countries"

14:15 - 15:15  Lunch

15:15 - 16:45

Parallel Session A: Applied Microeconomics Chair: Daphne Nikolitsas (Univ. of Crete)

Rigissa Megalokonomou (Univ. of Queensland) "Persistency in Teachers' Grading Biases and Effect on Longer Term Outcomes: University Admission Exams and Choice of Field of Study" [with Victor Lavy (Warwick)]

Theodoros Rapanos (Sšdertšrn Univ.) "What Makes an Opinion Leader: Expertise versus Popularity"

Marina-Selini Katsaiti (United Arab Emirates Univ.) "Misclassification and Household Bribery"

Parallel Session B: Econometrics Chair: Tassos Magdalinos (Univ. of Southampton)

Vasilis Sarafidis (Monash Univ., Caulfield) "A Simple Estimator for Panel Data Models with Common Factors" [with Arturas Juodis (Univ. of Groningen)]

Michael Wolf (Univ. of Zurich) "Large Dynamic Covariance Matrices" [with Robert Fry Engle (New York Univ., Stern) and Olivier Ledoit (Univ. of Zurich and Univ. of California, Los Angeles)]

Evangelia Mitrodima (LSE) "Bayesian Nonparametric Quantile Models for Forecasting Asset Return Distributions" [with Jim Griffin (Univ. of Kent)]

Parallel Session C: Banking and Finance Chair: Kostas Peppas (IOBE)

Alexandros Vardoulakis (Federal Reserve Board) "Optimal Bank Regulation in the Presence of Credit and Run Risk" [with Anil Kashyap (Univ. of Chicago, Booth School of Business) and Dimitri Tsomocos (Oxford)]

Christos Tsoumas (Hellenic Open Univ.) "Depositors Discipline and Regulatory Actions" [with Manthos Delis (Univ. of Surrey) and Panagiotis Staikouras (Univ. of Piraeus)]

Thanassis Triantafyllou (Ernst & Young) "The Term Structure of Interest Rates as Predictor of Stock-Market Uncertainty"


9:00 - 10:00    Michael Magdalinos Lecture Chair: Harris Dellas (Univ. of Bern)

David Andolfatto (Federal Reserve Bank of St. Louis) "Bank Panics and Scale Economies" [with Ed Nosal (Federal Reserve Bank of Chicago)]

10:00 - 11:30  Institutions and Employment Chair: Panos Hatzipanayotou (AUEB-DIEES)

Elias Dinopoulos (Univ. of Florida) "Effects of Credit Supply on Unemployment and Inequality" [with Subhayu Bandyopadhyay (Federal Reserve Bank of St. Louis) and Bulent Unel (Louisiana State Univ.)]

Manos Matsaganis (Politecnico di Milano and AUEB-DIEES) "Income Drops and Buffers in South Europe"

Miltos Makris (Univ. of Southampton) "Incentives for Endogenous Types: Taxation under Learning-by-doing" [with Alessandro Pavan (Northwestern Univ.)]

11:30 - 11:45  Coffee Break

11:45 - 12:30  Keynote Lecture Chair: Amedeo Odoni (MIT)

John Geanakoplos (Yale) "Competitive Equilibrium with Debt: Leverage Multiplicity and Default Multiplicity"

12:30 - 13:15  The Greek Economy: Recent Trends Chair: Christos Kotsogiannis (Univ. of Exeter)

Dimitris Malliaropulos (Bank of Greece and Univ. of Piraeus) "Greece: State of Economy, Outlook and Major Challenges"

13:15 - 14:15  Lunch

14:15 - 15:45

Parallel Session A: International Trade Chair: Margarita Katsimi (AUEB-DIEES)

Michael Michael (Univ. of Cyprus) "International Migration of Skilled Workers with Endogenous Policies" [with Slobodan Djajic (Graduate Institute of International and Development Studies, Geneva)]

Constantinos Syropoulos (Drexel Univ.) "On Trade and the Stability of (Armed) Peace" [with Michelle Garfinkel (Univ. of California, Irvine)]

Yannis Ioannides (Tufts) "International and Intercity Trade, and Housing Prices in US Cities" [with Jeffrey Cohen (Univ. of Connecticut)]

Parallel Session B: Finance and Prices Chair: Elias Papaioannou (LBS)

Evgenia Passari (UniversitŽ Paris-Dauphine) "Exchange Rates and Commodity Prices"

Sotiris Blanas (Lancaster Univ.) "Jobs, FDI and Institutions in Sub-Saharan Africa: Evidence from Firm-Level Data" [with Adnan Seric (United Nations Industrial Development Organization) and Christian Viegelahn (International Labour Organization)]

Marina Glushenkova (Nottingham Univ. Business School China) "Barriers to Price Convergence" [with Andros Kourtellos (Univ. of Cyprus) and Marios Zachariadis (Univ. of Cyprus)]

Parallel Session C: Microeconomics and Applications Chair: Georges Siotis (Carlos III, Madrid)

Alexis Antoniades (Georgetown Univ.) "Distribution as Expenditure"

Anastasios Dosis (ESSEC Business School, Paris) "Testing for Adverse Selection in Credit Markets"

Theodore Papageorgiou (McGill Univ.) "Estimating Matching Functions when Search Intensity is Unobserved" [with Fabian Lange (McGill Univ.)]

15:45 - 16:00  Coffee Break

16:00 - 17:30

Parallel Session A: Institutions Chair: Anna Hardman (Tufts)

Manfred Kšnigstein (Univ. of Erfurt) "Even Democratic Socialism Generates Inefficiency - A Lab Experiment"

Theodora Kosma (Bank of Greece) "FirmsÕ Perceptions and the Role of Labour Market Reforms in the Countries of the Euro Area" [with Mario Izquierdo (Bank of Spain), Ana Lamo (ECB), Fernando Martins (Bank of Portugal) and Simon Savsek (ECB)]

Satya Das (Univ. of Illinois at Urbana-Champaign) "Why Direct Counter-Terror (CT) Measures Only May Fail: An Analysis of Direct and Preventive CT Measures" [with Sajal Lahiri (Southern Illinois Univ.)]

Parallel Session B: Growth and Investment Chair: Constantine Angyridis (Ryerson Univ.)

Manthos Delis (Univ. of Surrey) "Democracy and Credit - "Democracy Doesn't Come Cheap" but at Least Credit to its Corporations Will Be" [with Iftekhar Hasan (Fordham Univ. and Bank of Finland) and Steven Ongena (Univ. of Zurich, Swiss Finance Institute and KU Leuven)]

Ilias Boultzis (AUEB-Econ) "Preying on the Young"

Constantine Angyridis (Ryerson Univ.) "Endogenous Growth, Inequality and the Composition of Government Expenditures"

Parallel Session C: Applied Microeconomics Chair: Michael Michael (Univ. of Cyprus)

Konstantinos Papadopoulos (Aristotle Univ. of Thessaloniki) "Strategic Outsourcing among Rivals in the Presence of a Common Supplier" [with Chariklia Dermentzi (Aristotle Univ. of Thessaloniki)]

Michail Anthropelos (Univ. of Piraeus) "Games on Thin Risk-Sharing Markets" [with Constantinos Kardaras (LSE) and George Vichos (LSE)]

Theodosios Dimopoulos (HEC Lausanne) "Heterogeneity in Corporate Investment and Financing Policies"


9:30 - 10:45    Microeconomics Lectures Chair: Emmanuel Petrakis (Univ. of Crete)

Patrick Rey (Toulouse School of Economics) "Price Caps as Welfare Enhancing Coopetition" [with Jean Tirole (Toulouse School of Economics)]

Juuso VŠlimŠki (Aalto Univ.) "All-Pay Auctions with Affiliated Values" [with Chang-Koo Chi (NHH Norwegian School of Economics) and Puali Murto (Aalto Univ.)]

10:45 - 11:00  Coffee Break

11:00 - 13:15

Parallel Session A: Industrial Organization Chair: Konstantinos Serfes (Drexel Univ.)

Przemyslaw Jeziorski (Berkeley, Haas School of Business) "Adverse Selection and Moral Hazard in a Dynamic Model of Auto Insurance" [with Elena Krasnokutskaya (Johns Hopkins Univ.) and Olivia Ceccarini (Porto Business School)]

Alexander Kritikos (DIW Berlin and Univ. of Potsdam) "The Effect of the Business Cycle on Start-ups across Industries: An Empirical Analysis for Germany" [with Alexander Konon (DIW Berlin) and Michael Fritsch (Friedrich Schiller Univ. Jena and DIW Berlin)]

Konstantinos Serfes (Drexel Univ.) "Does Competition Improve Quality? The Case of Nursing Homes Where Public and Private Payers Coexist" [with Susan Feng Lu (Purdue Univ.), Gerard Wedig (Univ. of Rochester) and Bingxiao Wu (Rutgers Univ.)]

Christos Constantatos (Univ. of Macedonia) "Antitrust Enforcement in Two-sided Platforms: The Media Markets Case" [with Konstantinos Charistos (Univ. of Macedonia)]

Parallel Session B: Taxation and Policy Chair: Christos Kotsogiannis (Univ. of Exeter)

Isabel Correia (Banco de Portugal and Universidade Catolica Portuguesa) "Should We Stop Taxing Homes?"

Panos Hatzipanayotou (AUEB-DIEES) "Capital Tax Competition and Vertical Fiscal Externalities in a Federation under Variable Labor Supply" [with Nikos Tsakiris (Univ. of Ioannina) and Michael Michael (Univ. of Cyprus)]

Anastasios Karantounias (Federal Reserve Bank of Atlanta) "A Tax Plan for Endogenous Innovation" [with Mariano Massimiliano Croce (Univ. of North Carolina at Chapel Hill), Steve Raymond (Univ. of North Carolina at Chapel Hill) and Lukas Schmid (Duke Univ.)]

George Bitros (AUEB-Econ) "Elasticities of Business Investment in the U.S. and their Policy Implications: A Disaggregate Approach to Modeling and Estimation" [with Mohamed Ishaq Nadiri (NYU)]

Parallel Session C: Econometrics and Applications Chair: Marios Papaspyrou (Bank of Greece)

Thanasis Stengos (Univ. of Guelph) "Endogeneity in Semiparametric Threshold Regression" [with Andros Kourtellos (Univ. of Cyprus) and Yiguo Sun (Univ. of Guelph)]

Ekaterini Panopoulou (Univ. of Kent) "The Role of Strategy Distinctiveness in Hedge Fund Performance" [with Nikolaos Voukelatos (Univ. of Kent)]

Eirini Konstantinidi (Manchester Business School) "A New Predictor of Real Economic Activity: The S&P 500 Option Implied Risk Aversion" [with Renato Faccini (Queen Mary, Univ. of London), George Skiadopoulos (Queen Mary, Univ. of London) and Sylvia Sarantopoulou-Chiourea (Univ. of Piraeus)]

Theodore Koutmeridis (Univ. of Glasgow) "Schooling, Experience and Performance: Payroll Evidence from a Financial Sector Firm" [with Barbara Eberth (Univ. of Newcastle)]

13:15 - 14:15  Lunch

14:15 - 15:15  Emmanuel Drandakis Lecture Chair: Costas Azariadis (Washington Univ., St. Louis)

Jonathan Eaton (Pennsylvania State Univ.) "International Trade and International Macroeconomics"

15:15 - 15:30  Coffee Break

15:30 - 17:00

Parallel Session A: Frictions and Returns Chair: Plutarchos Sakellaris (AUEB-Econ)

Maria Arvaniti (UmeŒ Univ.) "Deepwater Horizon: When Financial Imperfections Are Not the Problem, But the Solution" [with AndrŽs Carvajal (Univ. of California, Davis)]

Chrysovalantis Vasilakis (Univ. of Bangor) "Multiculturalism and Growth: Skill-Specific Evidence from the Post-World War II Period" [with FrŽdŽric Docquier (UniversitŽ Catholique de Louvain), Riccardo Turati (UniversitŽ Catholique de Louvain) and JŽr™me Valette (Univ. Clermont Auvergne)]

Ioannis Vrontos (AUEB-Statistics) "Bayesian Inference and Variable Selection for Predictive Non-Homogeneous Hidden Markov Models" [with Konstantina Koki (AUEB-Statistics) and Loukia Meligkotsidou (Univ. of Athens)]

Parallel Session B: Social Effects and Behavior Chair: Eftichios Sartzetakis (Univ. of Macedonia)

Philip Oreopoulos (Univ. of Toronto) "Student Coaching: How Far Can Technology Go?" [with Uros Petronijevic (York Univ.)]

Christos Mavridis (Lancaster Univ.) "Complete Information Pivotal-Voter Model with Asymmetric Group Size" [with Marco Serena (Max Planck Institute, Munich)]

Effrosyni Diamantoudi (Concordia Univ.) "Stable Coalition Structures" [with Licun Xue (McGill Univ.)]

Parallel Session C: Incentives and Decisions Chair: Vasilis Syrgkanis (Microsoft Research New England)

Petros Sekeris (Montpellier Business School) "Sharing Contests with General Preferences" [with Alex Dickson (Univ. of Strathclyde) and Ian MacKenzie (Univ. of Queensland)]

Eirini Tatsi (Stockholm Univ.) "Peer Effects, Free-Riding and Team Diversity" [with Danny Steinbach (Goethe Univ.)]

Evangelia Chalioti (Yale) "Reputation and Duration of Employment"


20:45   CONFERENCE DINNER (tentative)


9:00 - 11:00   

Parallel Session A: Learning and Estimation (Joint with Greek Stochastics) Chair: Petros Dellaportas (UCL and AUEB-Statistics)

Costis Daskalakis (MIT) "Learning Multi-item Auctions with (or without) Samples" [with Yang Cai (McGill Univ.)]

George Michailidis (Univ. of Florida) "Estimation and Testing for High-Dimensional Multi-Block VAR"

Parallel Session B: Macroeconomics, Asset Pricing and Portfolios Chair: Alexandros Vardoulakis (Federal Reserve Board)

George Kouretas (AUEB-BA) "The Taylor Rule as a Cointegrating Relationship: What does it Reveal about Monetary Policy in the United States?" [with Maria Eleftheriou (Universidad Aut—noma de Madrid)]

Dimitris Christelis (Univ. of Naples Federico II) "The Effect of Uncertainty on Household Consumption: A Partial Identification Approach" [with Dimitris Georgarakos (Deutsche Bundesbank), Tullio Jappelli (Univ. of Naples Federico II) and Maarten van Rooij (De Nederlandsche Bank)]

Pedro Teles (Banco de Portugal and Catolica Lisbon SBE) "The Role of Expectations in Sovereign Default: A Quantitative Exercise"

Parallel Session C: Econometrics: Theory and Applications Chair: Efthymia Kyriakopoulou (Univ. of Luxembourg)

Panagiotis Fotis (Hellenic Competition Commission) "Energy Efficiency Measures & Environmental Pollutants: A Dynamic Panel Data Analysis within EU"

Dimitrios Minos (Newcastle Univ.) "The Impact of Primary Biliary Cirrhosis on Patient Health-related Utility and Health Service Resource Use in the UK: A Cross-sectional Study" [with S. Rice (Newcastle Univ.), D. Jones (Newcastle), G. Mells (Cambridge), D. Coughlan (NIH), V. Albani (Newcastle), G. Fattakhova (Newcastle) and L. Vale (Newcastle)]

Stathis Tompaidis (Univ. of Texas at Austin) "Benefits and Risks of Central Clearing in the Repo Market" [with Viktoria Baklanova (Office of Financial Research, U.S. Dept. of the Treasury) and Ocean Dalton (Office of Financial Research, U.S. Dept. of the Treasury)]

11:00 - 11:30  Coffee Break

11:30 - 13:00

Parallel Session A: Econometrics Lecture (Joint with Greek Stochastics) Chair: Ekaterini Kyriazidoy (AUEB-Econ)

Dimitris Politis (Univ. of California, San Diego) "Model-Free Prediction and Regression"

Parallel Session B: Housing and Spatial Chair: Ioanna Konstantakopoulou (KEPE)

Elias Papaioannou (LBS) "Land Mines and Spatial Development" [with Giorgio Chiovelli (LBS) and Stelios Michalopoulos (Brown Univ.)]

Jack Favilukis (Univ. of British Columbia) "Out-of-Town Home Buyers and City Welfare" [with Stijn Van Nieuwerburgh (NYU, Stern)]

Kyriaki Begiazi (Oxford Brookes Univ.) "A Multivariate Analysis of the UK House Price Volatility" [with Paraskevi Katsiampa (Sheffield Hallam Univ.)]

Parallel Session C: Microeconomic Theory Chair: Svetoslav Danchev (IOBE)

Sotiris Georganas (City Univ. of London) "Standard Auctions in Continuous Time: Learning and Convergence" [with Theodore Alysandratos (Royal Holloway, Univ. of London) and Sergiu Ungureanu (City Univ. of London)]

Fabio Antoniou (Univ. of Ioannina) "Strategic Inventories under Limited Commitment" [with Raffaele Fiocco (Universitat Rovira i Virgili)]

Orestis Troumpounis (Lancaster Univ.) "Electoral Rule Effects on Intra-party Cohesion: Theory and Evidence" [with Konstantinos Matakos (King's College London), Riikka Savolainen (Aalto Univ.), Janne Tukiainen (LSE and VATT Helsinki) and Dimitrios Xefteris (Univ. of Cyprus)]

13:00 - 14:00  Lecture on Spatial Models Chair: Nikos Vettas (AUEB-Econ and IOBE)

Costas Arkolakis (Yale) "Advancements in Gravity Models of Spatial Economics"

14:00 - 15:30

Parallel Session A: Environment, Energy and Food Chair: Vally Koubi (Univ. of Bern)

Eftichios Sartzetakis (Univ. of Macedonia) "International Environmental Agreements under Geoengineering Technology" [with Stavros Rallakis (Univ. of Macedonia)]

Efthymia Kyriakopoulou (Univ. of Luxembourg) "Electric vs. Conventional Vehicles: Environmental Externalities and Urban Spatial Policies" [with Wolfgang Habla (Univ. of Gothenburg)]

Georgia Papoutsi (Agricultural Univ. of Athens) "The Health-Pleasure Trade Off in Consumer Food Decision Making: An Experimental Approach" [with Andreas Drichoutis (Agricultural Univ. of Athens) and Stathis Klonaris (Agricultural Univ. of Athens)]

Parallel Session B: Macroeconomics and Banking Chair: Evangelos Dioikitopoulos (King's College London)

Menelaos Karanasos (Brunel Univ.) "Measuring Time Varying Inflation Persistence: A GARCH-in-mean Model with Time Dependent Coefficients"

Dimitris Margaritis (Univ. of Auckland) "Is Getting Larger a Problem? Evidence from European Banks" [with Maryam Hasannasab (Univ. of Auckland), David Mayes (Univ. of Auckland) and Christos Staikouras (AUEB-Finance)]

Chris Papageorgiou (IMF) "Non-FDI Capital Inflows in Low-Income Countries: Catching the Wave?"

15:30 - 16:30  Lunch - end of the conference



About Milos


Milos is the fifth largest island in the Cyclades and the southwestern-most island of the group. Relics of the island's long history, which stretches back to 8,000 B.C., are scattered across Milos, most notable among them being the prehistoric settlement at Filakopi, near Pollonia, the Hellenistic theater and the remains of the classical city at Klima, northwest of Adamas, and the catacombs near Plaka. Milos is famous for the statue of Aphrodite found on the island, the "Venus de Milo", now in the Louvre, a Hellenistic masterpiece that became an icon of the classical standard for female beauty. With its more than 75 beaches and crystal blue waters, its unique volcanic landscape and its traditional Cycladic old town and scenic villages, Milos is one of the most popular summer destinations in the Aegean.

More about Milos at milos.gr.

You can reach Milos from Athens by boat, from the port of Piraeus (a three-hour trip), or you can fly to the island from Athens, or from Thessaloniki. You can also reach Milos from Santorini by boat (a two-hour trip). In July there are direct flights from many European cities to Santorini.

For ferry schedules you may visit Aegean Speed Lines, Seajets, Hellenic Seaways, or Blue Star Ferries.

For airplane tickets you may visit Aegean Airlines, Sky Express, or Astra Airlines.

You may also visit travel agencies such as airtickets, pamediakopes.gr, or OpenSeas.

The conference will take place at the Milos Conference Center - George Eliopoulos.


Sponsors and Supporters

Contact us

For further details please contact the organizing committee at crete2017@aueb.gr.

Thank you for visiting CRETE 2017!