Final Conference Program (pdf file) UPDATED 25 May 09:00

See you Next Year!

Final Programme

Last Update: May 25, 09:00

Thursday, May 26th, 2022
10:00-11:00: Registration at the Department of Economics
Parallel Session 1A: Macroeconomic Theory and Policy I
11:00-13:00 (Lecture Room: Α2-2)
Chair: Andreas Hefti
Governments’ decisions and macroeconomic stability fiscal policies and financial markets’ fluctuations, Andrea Venegoni  (LIUC – Università Carlo Cattaneo, Italy), Alessandra Centinaio ( LIUC – Università Carlo Cattaneo, Italy), Fausto Pacicco ( LIUC – Università Carlo Cattaneo, Italy ) and Massimiliano Serati ( LIUC – Università Carlo Cattaneo, Italy)
 Discussant: Andreas Hefti
Climate Change Mitigation: How Effective is Green Quantitative Easing?, Raphael Abiry (Goethe University Frankfurt, Germany), Marien Ferdinandusse (European Central Bank, Germany), Alexander Ludwig (Goethe University Frankfurt, Germany ) and Carolin Nerlich (European Central Bank, Germany)
 Discussant: Guido Traficante
Monetary-Fiscal Policy Interactions, Forward Guidance and Uncertain Effective Lower Bound, Guido Traficante (European University of Rome, Italy ) and Gülserim Özcan (Atilim University, Turkey)
 Discussant: Marien Ferdinandusse
On the versatile effects of common market conditions on market inequality, Andreas Hefti (Zurich University of Applied Sciences, Switzerland)
 Discussant: Alessandra Centinaio
Parallel Session 1B: Monetary Theory and Policy I
11:00-13:00 (Lecture Room: Α2-3)
Chair: Pavlos Petroulas
Hawks vs. Doves: Monetary Policy Effectiveness in light of diverging national policy stances, Niko Hauzenberger (University of Salzburg,  Austria), Florian Huber (University of Salzburg, Austria) and Thomas O. Zoerner (Oesterreichische Nationalbank, Austria)
 Discussant: Pavlos Petroulas
How does Monetary Policy affect Income And Wealth Inequality?, Michele Lenza (European Central Bank, Germany) and Jirka Slacalek (European Central Bank, Germany)
 Discussant: Evgenia Passari
The Origins of Commodity Price Fluctuations, Evgenia Passari (Université Paris-Dauphine, France), Sarah Mouabbi (European Central Bank, Germany) and Adrien Rousset Planat (London Business School, UK)
 Discussant: Michele Lenza
Price changes and large shocks price setting in Greece during the crisis, Huw Dixon (Cardiff Business School, Ireland), Theodora Kosma (Bank of Greece, Greece) and Pavlos Petroulas (Bank of Greece, Greece)
 Discussant: Thomas O. Zoerner
Parallel Session 1C: Banking and Finance I
11:00-13:00 (Lecture Room: Α3-2)
Chair: Panagiotis Politsidis
Automatic for the (tax) people: information sharing and cross-border investment in tax havens, Lorenz Emter (Central Bank of Ireland, Ireland and Trinity College Dublin, Ireland ), Agustin Benetrix (Trinity College Dublin, Ireland) and Martin Schmitz (European Central Bank, Germany)
 Discussant: Panagiotis Politsidis
The Behaviour of Prices and Trades: The Impact of Trades on Interbank Market Rates, Anastasios Demertzidis (University of Kassel, Germany) and Vahidin Jeleskovic (University of Kassel, Germany)
 Discussant: Juha-Matti Tauriainen
Commercial Paper Market as a Forward-Looking Component for EURIBOR Interest Rates During the COVID-19 Pandemic, Juha Junttila (University of Jyväskylä, Finland) and Juha-Matti Tauriainen (University of Jyväskylä, Finland)
 Discussant: Anastasios Demertzidis
Corporate tax changes and bank lending, Yota Deli (University College Dublin, Ireland), Manthos Delis (Montpellier Business School, France) and Panagiotis Politsidis (Audencia Business School, France and European Banking Institute, Germany)
 Discussant:  Lorenz Emter
Parallel Session 1D: Business Cycle and Growth
11:00-13:00 (Lecture Room: Α3-3)
Chair: Petri Kuosmanen
Commodity price uncertainty comovement: Does it matter for global economic growth?, Aikaterini Karadimitropoulou (University of Piraeus, Greece), Laurent Ferrara (SKEMA Business School, France) and Athanasios Triantafyllou (University of Essex, UK)
 Discussant: Petri Kuosmanen
The Financial Resource Gain: Macroeconomic integration and Technology Accumulation from Foreign Capital, Simon Hildebrandt (University of Kassel, Germany)
 Discussant: Anna Pestova
Bank Credit and Recessions: Exploring the Non-Monotonicity, Anna Pestova (Center for Economic Research and Graduate Education – Economics Institute (CERGE-EI), Czech Republic) and Mikhail Mamonov (Center for Economic Research and Graduate Education – Economics Institute (CERGE-EI), Czech Republic)
 Discussant: Simon Hildebrandt
Forecasting GDP gorwth in small open economies: Foreign economic activity vs. domestic financial predictors, Petri Kuosmanen  (University of Vaasa, Finland) and Juuso Vataja (University of Vaasa, Finland)
 Discussant: Waël Louhichi
13:00-14:00: Lunch
Parallel Session 2A: Journal of Forecasting I
14:00-16:00 (Lecture Room: Α2-2)
Chair: Davide Furceri
The Use of Dynamic Factor Analysis and Non-Linear Forecast Combinations in Forecasting Inflation in the Presence of Structural Breaks, Stephen G. Hall (University of Leicester, UK), George S. Tavlas (Bank of Greece, Greece) and Yongli Wang (University of Birmingham, UK)
 Discussant: Klodiana Istrefi
Forecasting Sovereign Risk in the Euro Area via Machine Learning, Guillaume Bellya (Banque de France, France), Lukas Boeckelmanna (Banque de France, France), Carlos Mateo Caicedo Graciano (Banque de France, France), Alberto Di Iorio (Banca d’Italia, Italy), Klodiana Istrefi (Banque de France, France), Vasileios Siakoulis (Bank of Greece, Greece) and Arthur Stalla-Bourdillon (Banque de France, France)
 Discussant:  Davide Furceri
Worse Than You Think: Public Debt Forecast Errors in Advanced and Developing Economies, Julia Estefania Flores (International Monetary Fund, USA), Davide Furceri (International Monetary Fund, USA), Siddharth Kothar (International Monetary Fund, USA) and Jonathan D. Ostry (International Monetary Fund, USA and CEPR, UK)
 Discussant: Yongli Wang
Parallel Session 2B: Exchange Rate Economics
14:00-16:00 (Lecture Room: Α2-3)
Chair: Stefan Eichler
Fundamental Determinants of Exchange Rate Expectations, Joscha Beckmann (FernUniversität in Hagen, Germany; University of Greifswald, Germany; Kiel Institute for the World Economy, Germany ) and Robert L. Czudaj (Technical University of Freiberg, Germany; Ludwig-Maximilians-University of Munich, Germany; Chemnitz University of Technology, Germany)
 Discussant: Stefan Eichler
Global risk and the dollar, Georgios Georgiadis (European Central Bank, Germany)
 Discussant: Gyowon Gwon
Do exchange rates still matter for the current account in the age of Global Value Chains?, Gyowon Gwon (CEPN, Université Sorbonne Paris Nord, France)
 Discussant: Georgios Georgiadis
Protectionism, bilateral integration, and the cross section of exchange rate returns in US presidential debates, Jantke de Boer (TU Dresden, Germany), Stefan Eichler (TU Dresden, Germany and Halle Institute for Economic Research, Germany) and Ingmar Rövekamp (TU Dresden, Germany)
 Discussant: Robert L. Czudaj
Parallel Session 2C: Financial Markets I
14:00-16:00 (Lecture Room: Α3-2)
Chair: Laurent Augier
Knowledge Diffusion and Financial Development Thresholds, Konstantinos Dellis (University of Piraeus, Greece)
 Discussant: Laurent Augier
Political uncertainty, corruption, and corporate cash holdings, Shashitha Jayakody (Kent Business School, UK ), David Morelli (Kent Business School, UK) and Jaideep Oberoi (SOAS, University of London, UK)
 Discussant: Hechmi Ben Ameur
The smooth transition to green investments: Evidence from investors benefits, Hechmi Ben Ameur (INSEEC U, France), Zied Ftiti (EDC Paris Business School, France), Waël Louhichi (ESSCA School of Management, France) and Mohamed Yousfi (Higher Institute of Commercial Studies of Sousse, Tunisia and University of Sousse, Tunisia)
 Discussant: Jaideep Oberoi
Financial market economy vs self-financing economy and the role of risk aversion, Laurent Augier (Université de La Rochelle – CRIEF Poitiers, France) and Yin Chao (Université de Wuhan, China – CRIEF Poitiers, France)
 Discussant: Konstantinos Dellis
Parallel Session 2D: Fiscal Policy
14:00-16:00 (Lecture Room: Α3-3)
Chair: Peter Claeys
Pollution versus Inequality: Tradeoffs for Fiscal Policy, Camille Hainnaux  (Aix-Marseille University, AMSE, France ) and Thomas Seegmuller (Aix-Marseille University, CNRS, AMSE, France)
 Discussant: Peter Claeys
Taxes on Greenhouse Gas Emissions to Counter the Demographic Change, Matthias Schön (Deutsche Bundesbank, Germany), Nikolai Stähler (Deutsche Bundesbank, Germany) and Kilian Ruppert (Deutsche Bundesbank, Germany)
 Discussant: Yannis Tsafos
Oil Price Shocks & Political Transitions : The Role of Fiscal Capacity, Yannis Tsafos (University of Glasgow, UK), Soner Baskaya (University of Glasgow, UK) and  John Tsoukalas (University of Glasgow, UK)
 Discussant: Matthias Schön
Scarring effects of major economic downturns: the role of fiscal policy and government investment, Peter Claeys (College of Europe, Belgium), Martin Larch (European Commission, Belgium) and Wouter van der Wielen (European Investment Bank, Luxembourg)
 Discussant: Camille Hainnaux
16:00-16:30: Coffee break
Parallel Session 3A: Journal of Financial Services Research I
16:30-18:30 (Lecture Room: Α2-2)
Chair: Georgios P. Kouretas
Financial Impact of Trust and Institutional Quality Around the World, Svatopluk Kapounek (Mendel University, Czech Republic), Evzen Kocenda (Charles University, Czech Republic) and Ludek Kouba (Mendel University, Czech Republic)
 Discussant: Raoul Minetti
Bank Information and Firm Growth. Microeconomic Evidence from the US Credit Market, Raoul Minetti (Michigan State University, USA ), Hans Degryse (KU Leuven, Belgium and CEPR, UK) and  Sotirios Kokas (University of Essex, UK)
 Discussant: Zied Ftiti
Bank IPOs and Regulations’ Impact on Social Benefits, Maria-Eleni Agoraki (University of the Peloponnese, Greece), Dimitrios Gounopoulos (University of Bath, UK) and Georgios P. Kouretas (IPAG Business School, France and Athens University of Economics and Business, Greece)
 Discussant: Evzen Kocenda
Parallel Session 3B: Euro Area Economics I
16:30-18:30 (Lecture Room: Α2-3)
Chair: Francisco Nadal De Simone
Gauging the Effect of Influential Observations on Measures of Relative Forecast Accuracy in a Post-COVID-19 Era: An Application to Nowcasting Euro Area GDP Growth, Boriss Siliverstovs (Bank of Latvia, Latvia)
 Discussant: Francisco Nadal De Simone
Fiscal Discipline meets Macroeconomic Stability: When the Eurobonds are a Good Idea, Luciano Greco (CRIEP, Italy and University of Padova, Italy), Francesco Jacopo Pintus (CRIEP, Italy and University of Padova, Italy) and Davide Raggi (University Ca’ Foscari of Venice, Italy)
 Discussant: Maria Siranova
Effects of central bank communication in European inflation targeters, Maria Siranova (Institute of Economic Research, Slovak Academy of Sciences, Slovakia) and Magdalena Szyszko (WSB University in Poznan, Poland)
 Discussant: Francesco Jacopo Pintus
Signaling the Financial Crisis in the Euro Area and the Effects of Unravelling of Systemic Risk on Growth and Inflation, Alain Kabundi (World Bank, USA) and Francisco Nadal De Simone (University of Luxembourg, Luxembourg and Sacred Heart University, Luxembourg)
 Discussant: Boriss Siliverstovs
Parallel Session 3C: Financial Economics I
16:30-18:30 (Lecture Room: Α3-2)
Chair: Paul D. McNelis
Recourse and (strategic) mortgage defaults: Evidence from changes in housing market laws, Alin Marius Andries (Alexandru Ioan Cuza University, Romania and Institute for Economic Forecasting, Romania), Anca Copaciu (National Bank of Romania, Romania), Radu Popa (National Bank of Romania, Romania and Academy of Economic Studies, Romania) and Razvan Vlahu (De Nederlandsche Bank, The Netherlands)
 Discussant: Paul D. McNelis
Financial Market Uncertainty in the US: Measurement, Trends, and Effects, Roman Horvath (Charles University, Czech Republic) and Svatopluk Kapounek (Mendel University, Czech Republic)
 Discussant: Stephane Loisel
An Asset-Liability Model for Stable Value Fund Wraps, Behzad Alimoradian (Valerian Capital Group LLC, USA), Jeffrey Jakubiak (Valerian Capital Group LLC, USA), Stephane Loisel (Université de Lyon, France) and Yahia Salhi (Université de Lyon, France)
 Discussant: Svatopluk Kapounek
Swap Volatility Dynamics and the Transmission of Systemic Risk in Hong Kong, Paul D. McNelis (Fordham University, USA)
 Discussant: Razvan Vlahu
Parallel Session 3D: Labor Market I
16:30-18:30 (Lecture Room: Α3-3)
Chair: Maximilian Boeck
RBTC, Polarization and Career Paths: a “Bottleneck” Effect, Valentin Artemev (Center for Economic Research and Graduate Education – Economics Institute (CERGE-EI), Czech Republic) and  Daniil Kashkarov (Center for Economic Research and Graduate Education – Economics Institute (CERGE-EI), Czech Republic)
 Discussant: Demetris Koursaros
Career and Non-Career Jobs: Dangling the Carrot, Andri Chasamboulli (University of Cyprus, Cyprus) and Demetris Koursaros (Cyprus University of Technology, Cyprus)
 Discussant: Maximilian Boeck
Labor Market Institutions, Fiscal Multipliers, and Macroeconomic Volatility, Maximilian Boeck (Vienna School of International Studies, Austria), Jesús Crespo Cuaresma (Vienna University of Economics and Business, Austria) and Christian Glocker (Austrian Institute of Economic Research, Austria)
 Discussant: Valentin Artemev
20:30: Welcome Reception and Gala Dinner at THEARTEMIS PALACE HOTEL
Friday, May 27th, 2022
Parallel Session 4A: Journal of Forecasting II
9:00-11:00 (Lecture Room: Α2-3)
Chair: Roberto Duncan
The Role of Expectations for Currency Crisis Dynamics – The Case of the Turkish Lira, Robert Czudaj (Technical University of Freiberg, Germany; Ludwig-Maximilians-University of Munich, Germany; Chemnitz University of Technology, Germany) and Joscha Beckmann (FernUniversität in Hagen, Germany; University of Greifswald, Germany; Kiel Institute for the World Economy, Germany)
 Discussant: Ahmet Sensoy
Jump Forecasting in Foreign Exchange Markets: A High-Frequency Analysis, Sevcan Uzun (Central Bank of the Republic of Turkey, Turkey), Ahmet Sensoy (Bilkent University,Turkey) and Duc Khuong Nguyen (IPAG Business School, France)
 Discussant: Roberto Duncan
Forecasting Inflation in Open Economies: What Can a NOEM Model Do?, Roberto Duncan (Ohio University, USA) and Enrique Martinez-Garcia (Federal Reserve Bank of Dallas, USA)
 Discussant: Joscha Beckmann
Parallel Session 4B: Banking and Finance II
9:00-11:00 (Lecture Room: Α2-2)
Chair: Beau Soederhuizen
The Effectiveness of Macroprudential Policies in Curbing Operational Risk Exposures, Artemis Stratopoulou (University of West Attica, Greece)
 Discussant: Beau Soederhuizen
The effects of competition in the banking sector on the relations between the financial sector and the real economy. The role of digital technology, Małgorzata Pawłowska (SGH Warsaw School of Economics, Poland) and Georgios P. Kouretas (IPAG Business School, France and Athens University of Economics and Business, Greece)
 Discussant: Sotirios Kokas
Transmission of Industry-Specific Shocks: The Role of Bank Specialization, Rajkamal Iyer (Imperial College London, UK), Sotirios Kokas (University of Essex, UK), Alexander Michaelides (Imperial College London, UK and CEPR, UK) and Jose-Luis Peydro (Imperial College London, UK and CEPR, UK)
 Discussant: Małgorzata Pawłowska
Optimal capital ratios for banks in the euro area, Beau Soederhuizen (CPB, The Netherlands), Bert Kramer (CPB, The Netherlands), Gerrit Hugo van Heuvelen (CPB, The Netherlands) and Rob Luginbuhl (CPB, The Netherlands)
 Discussant: Artemis Stratopoulou
Parallel Session 4C: Euro Area Economics II
9:00-11:00 (Lecture Room: Α3-2)
Chair: Martin Geiger
Private Capital Formation and Government Spending Interaction in the Case of Eurozone Countries, Athanasios Argyropoulos (University of Macedonia, Greece), Christos Karpetis (University of Macedonia, Greece), Stephanos Papadamou (University of Thessaly, Greece) and Erotokritos Varelas (University of Macedonia, Greece)
 Discussant: Martin Geiger
Macroprudential policy and the sovereign-bank nexus in the euro area, Benedikt Kolb (Deutsche Bundesbank, Germnay), Nikolay Hristov (Deutsche Bundesbank, Germany) and Oliver Hülsewig (University of Applied Sciences, Germany)
 Discussant: Yiqiao Sun
Current account and monetary policy in the euro area, Yiqiao Sun (European Central Bank, Germany ) and Tobias Schuler (European Central Bank, Germany)
 Discussant: Benedikt Kolb
Monetary Policy Shocks and Consumer Expectations in the Euro Area, Martin Geiger (Liechtenstein Institute, Liechtenstein and University of Innsbruck, Austria), Daniel Gründler (University of Innsbruck, Austria) and Johann Scharler (University of Innsbruck, Austria)
 Discussant: Athanasios Argyropoulos
Parallel Session 4D: Monetary Theory and Policy II
9:00-11:00 (Lecture Room: Α3-3)
Chair: Tom Laehner
Trouble Every Day: Monetary Policy in Emerging Economies, a Study of South Africa, Ekaterina Pirozhkova (University of Pretoria, South Africa), Nicola Viegi (University of Pretoria, South Africa ), Giovanni Ricco (University of Warwick, UK) and Charl van Schoor (University of Pretoria, South Africa)
 Discussant: Tom Laehner
Monetary Policy and the Financial Cycle: An International Evidence, Jaromir Baxa (Institute of Information Theory and Automation AS CR, Czech Republic) and Jan Žáček (Czech National Bank, Czech Republic)
 Discussant: Alexandros Kontonikas
Unconventional Monetary Policy and the Search for Yield, Sotirios Kokas (University of Essex, UK) and Alexandros Kontonikas (University of Essex, UK)
 Discussant: Jaromir Baxa
The Informativeness of Monetary Policy Preferences in the FOMC, Tom Laehner (Leibniz University Hannover, Germany) and Stefan Eichler (Technische Universität Dresden, Germany)
 Discussant: Ekaterina Pirozhkova
Parallel Session 4E: Macroeconomic Theory and Policy II
09:00-11:00 (Lecture Room: Α1-2)
Chair: Oliver Hülsewig
The impact of political trust and socioeconomic characteristics on financial exclusion: the case of the Netherlands, Michael Chletsos (University of Piraeus, Greece) and Leonidas Zangelidis (University of Piraeus, Greece)
 Discussant: Oliver Hülsewig
The Informative Effect of Auctions on Sovereign Bonds Liquidity, Luciano Greco (University of Padua, Italy & CRIEP, Italy) and Angelica Ghiselli (Central Bank of Ireland, Ireland)
 Discussant: Thomas Seegmuller
Entrepreneurship, growth and productivity with bubbles, Lise Clain-Chamosset-Yvrard (Univ. Lyon, Université Lumière Lyon 2, France), Xavier Raurich (University of Barcelona, Spain) and Thomas Seegmuller (Aix Marseille Univ, CNRS, AMSE, France)
 Discussant: Angelica Ghiselli
Fiscal stability and macroprudential capital regulation, Oliver Hülsewig (Munich University of Applied Sciences, Germany) and Armin Steinbach (HEC Paris, France)
 Discussant: Leonidas Zangelidis
11:00-11:30: Coffee break
11:30-13:00 (Amphitheatre Δ7)
Chair: Nikolaos Giannellis
Anendiya Banerjee (University of Birmingham, UK)
Using panels to test for cointegration: thoughts on some methodological approaches
13:00-14:00: Lunch
14:00-15:30 (Amphitheatre Δ7)
Chair: George S.Tavlas
James Forder (University of Oxford, UK)
“Early American anti-Keynesianism”
15:30-16:00: Coffee break
Parallel Session 5A: Journal of Financial Srevices Research II
16:00-18:00 (Lecture Room: Α2-2)
Chair: Kyriaki Kosmidou
Competition and innovation in the financial sector: Evidence from the rise of FinTech start-ups, Doina Caragea (Kansas State University, USA), Theodor Cojoianu (Queen’s University Belfast, Ireland), Mihai Dobri (Kansas State University, USA), Andreas Hoepner (University College Dublin, Ireland) and Oana Peia (University College Dublin, Ireland)
 Discussant: Camille Baily
How different are ESG Mutual Funds? Evidence and implications, Camille Baily (CeReFiM, University of Namur, Belgium) and Jean-Yves Gnabo (CeReFiM, University of Namur, Belgium)
 Discussant: Kyriaki Kosmidou
Textual Financial Reporting Transparency Sustainability and Risk in the Financial Sector, Kyriaki Kosmidou (Aristotle University of Thessaloniki, Greece), Dimitrios Kousenidis (Aristotle University of Thessaloniki, Greece), Anestis Ladas (University of Macedonia, Greece) and Christos Negkakis (University of Macedonia, Greece)
 Discussant: Oana Peia
Parallel Session 5B: Financial Markets II
16:00-18:00 (Lecture Room: Α2-3)
Chair: Nektarios Aslanidis
Time-variation in the effects of push and pull factors on portfolio flows: evidence from a bayesian dynamic factor model,Timo Bettendorf  (Deutsche Bundesbank, Germany) and Aikaterini Karadimitropoulou (University of Piraeus, Greece)
 Discussant: Nektarios Aslanidis
Banking Union Capital Requirements Regulation: does its current shape break the ‘diabolic loop’ between banks and sovereign debts?, Dalia Mansour-Ibrahim (EconomiX Paris Nanterre, France)
 Discussant: Marina-Eliza Spaliara
Paying over the odds? Private equity and regional inequality in the UK, Kevin Amess (University of Nottingham, UK), Paul Lavery ( University of Glasgow, UK) and Marina-Eliza Spaliara (University of Glasgow, UK)
 Discussant: Dalia Mansour-Ibrahim
Weekly dynamic conditional correlations among cryptocurrencies and traditional assets, Nektarios Aslanidis (Universitat Rovira i Virgili, Spain), Aurelio F. Bariviera (Universitat Rovira i Virgili, Spain) and Christos S. Savva (Cyprus University of Technology, Cyprus)
 Discussant: Timo Bettendorf
Parallel Session 5C: Macroeconomic Theory and Policy III
16:00-18:00 (Lecture Room: Α3-2)
Chair: Andrea Colciago
Can Machine Learning Change Our Opinion on Euler’s Consumption Model?, Diana Gabrielyan (University of Tartu, Estonia)
 Discussant: Andrea Colciago
Did COVID-19 induce a reallocation wave?, Filippos Petroulakis (Bank of Greece, Greece) and Agostino Consolo (European Central Bank, Germany)
 Discussant: Anete Brinke
Consumer Spending in the Covid-19 Pandemic: Evidence from Card Transactions, Anete Brinke (Bank of Latvia, Latvia), Ludmila Fadejeva (Bank of Latvia, Latvia), Boriss Siliverstovs (Bank of Latvia, Latvia) and Karlis Vilerts (Bank of Latvia, Latvia)
 Discussant: Filippos Petroulakis
Business Dynamism, Reallocation, and Productivity in a Pandemic, Guido Ascari (De Nederlandsche Bank, The Netherlands and University of Pavia, Italy), Andrea Colciago (De Nederlandsche Bank, The Netherlands and University of Milano Bicocca, Italy) and Riccardo Silvestrini (Erasmus University, The Netherlands)
 Discussant: Diana Gabrielyan
Parallel Session 5D: Data and Estimation Issues
16:00-18:00 (Lecture Room: Α3-3)
Chair: Andrzej Torój
Combining Bayesian VARs with survey density forecasts: does it pay off?, Joan Paredes (European Central Bank, Germany), Marta Banbura (European Central Bank, Germnay), Federica Brenna (KU Leuven, Belgium and European Central Bank, Germany) and Francesco Ravazzolo (Free University of Bozen-Bolzano, Italy; BI Norwegian Business School, Norway and RCEA, Italy)
 Discussant: Andrzej Torój
Less is more: Ranking Information, Estimation Errors and Optimal Portfolios, Lukas Salcher (University of Liechtenstein, Liechtenstein) and Sebastian Stöckl (University of Liechtenstein, Liechtenstein)
 Discussant: Michael Graff
Imputing monthly values for quarterly time series. An application performed with Swiss business cycle data, Michael Graff (ETH Zürich, Switzerland), Klaus Abberger (ETH Zürich, Switzerland), Oliver Müller (ETH Zürich, Switzerland) and Boriss Siliverstovs (Central Bank of Latvia, Latvia)
 Discussant: Lukas Salcher
Using geolocation data in spatial-econometric construction of multiregion input-output tables: A Bayesian approach, Andrzej Torój (SGH Warsaw School of Economics, Poland)
 Discussant: Joan Paredes
Parallel Session 5E: Financial Economics II
16:00-18:00 (Lecture Room: Α1-2)
Chair: Thanos Verousis
Modelling failure rates with machine-learning models: Evidence from a panel of UK firms, Serafeim Tsoukas (University of Glasgow, UK), Georgios Sermpinis (University of Glasgow, UK) and Yiqun Zhang (Central University of Finance and Economics, China)
 Discussant: Thanos Verousis
Relative Valuation of Private Held Companies: Valuation Multiples in the Czech Brewing Industry, Michal Drábek (Mendel University in Brno, Czech Republic)
 Discussant: Peter Albrecht
Volatility spillovers of Central and Eastern European currencies, Peter Albrecht (Mendel University in Brno, Czech Republic)
 Discussant: Michal Drábek
Decomposing Asymmetric Information in Equity Options: Underlying Stock Value and Volatility Information Components, Thanos Verousis (University of Essex, UK), Richard Holowczak (City University of New York, USA ), Daniel González (Universidad de Chile, Chile), Alejandro Bernales (Universidad de Chile, Chile) and Felipe Asencio (Universidad de Chile, Chile)
 Discussant: Serafeim Tsoukas
Saturday, May 28th, 2022
Parallel Session 6A: Journal of Forecasting III
9:00-11:00 (Lecture Room: Α2-2)
Chair: Gabe de Bondt
Nowcasting the evolution of inflation using high frequency data, Tesi Aliaj (Sapienza University of Rome, Italy), Milos Ciganovic (Sapienza University of Rome, Italy) and Massimiliano Tancioni (Sapienza University of Rome, Italy)
 Discussant: Gabe de Bondt
The effects of shocks to interest-rate expectations in the euro area: estimates at the country level, Martin Mandler (Deutsche Bundesbank, Germany) and Michael Scharnagl (Deutsche Bundesbank, Germany)
 Discussant: Tesi Aliaj
Financial Stability During Times of Unconventional Monetary Policy Interventions, George Apostolakis (University of Crete, Greece), Nikolaos Giannellis (University of Crete, Greece) and Athanasios P. Papadopoulos (University of Crete, Greece)
 Discussant: Martin Mandler
Forecasting housing investment, Gabe de Bondt (European Central Bank, Germany), Carlos Cañizares Martínez (National Bank of Slovakia, Slovakia) and Arne Gieseck (European Central Bank, Germany)
 Discussant: Milos Ciganovic
Parallel Session 6B: Monetary Theory and Policy III
9:00-11:00 (Lecture Room: Α2-3)
Chair: Davide Romelli
Brexit News Shocks and UK Monetary Policy, Jochen Guentner (Johannes Kepler University Linz, Austria) and Martin Geiger (Liechtenstein Institute, Liechtenstein)
 Discussant: Davide Romelli
Financial stability communication : Does the Central Bank communication practices matter ?, Hamdi Jbir (CRIEF, University of Poitiers, France)
 Discussant: Arthur Galichere
Asset Price Bubbles and Monetary Policy: Deflate the bubble?, Arthur Galichere (University of Warwick, UK)
 Discussant: Hamdi Jbir
Monetary policy and financial markets: evidence from Twitter traffic, Davide Romelli (Trinity College Dublin, Ireland), Donato Masciandaro (Bocconi University, Italy) and Gaia Rubera (Bocconi University, Italy)
 Discussant: Martin Geiger
Parallel Session 6C: Financial Economics III
9:00-11:00 (Lecture Room: Α3-2)
Chair: Maria-Eleni Agoraki
SMEs Perceptions and Expectations of Availability of External Finance: An Investigation from a Behavioral Perspective, Jarko Fidrmuc (Zeppelin University, Germany; Mendel University, Czech Republic;  WIFO Vienna, Austria) and Florian Horky (Zeppelin University, Germany)
 Discussant: Dimitrios Konstantios
Funds of Hedge Funds: Chasing Returns or Avoiding Risk?, Christos Argyropoulos (University of Essex, UK), Ekaterini Panopoulou (University of Essex, UK) and Spyridon Vrontos (University of Essex, UK)
 Discussant: Florian Horky
ESG Reputational Risk, organizational capital, and firms’ dynamics: Evidence from US firms, Maria Giaka (Panteion University, Greece), Dimitrios Konstantios (University of Piraeus, Greece), Vasilios-Christos Naoum (University of Piraeus, Greece) and Victoria Patsika (University of Cardiff, UK)
 Discussant: Christos Argyropoulos
How COVID-19 has affected the performance of green investment funds?, Maria-Eleni Agoraki (University of the Peloponnese, Greece), Nektarios Aslanidis (Universitat Rovira i Virgili, Spain) and Georgios P. Kouretas (IPAG Business School, France and Athens University of Economics and Business, Greece)
 Discussant: Juuso Vataja
Parallel Session 6D: Macroeconomic Theory and Policy IV
9:00-11:00 (Lecture Room: Α3-3)
Chair: Luca Onorante
Undesired Consequences of Calvo Pricing in a Nonlinear World, Lorant Kaszab (Magyar Nemzeti Bank, Hungary and Vienna University of Economics and Business, Austria), Ales Marsal (Vienna University of Economics and Business, Austria) and Katrin Rabitsch (Vienna University of Economics and Business, Austria)
 Discussant: Luca Onorante
Country Size and Exposure to International Economic Shocks: New Evidence from the Financial Crisis, Andreas Brunhart (Liechtenstein Institute, Liechtenstein)
 Discussant: Francesco Saverio Gaudio
Supply Shocks and Asset Market Participation, Francesco Saverio Gaudio (University of Warwick, UK and Aix-Marseille School of Economics, France),  Ivan Petrella (University of Warwick, UK and CEPR, UK) and Emiliano Santoro (University of Copenhagen, Denmark)
 Discussant: Andreas Brunhart
Testing big data in a big crisis: nowcasting under COVID-19, Luca Barbaglia (European Commission, Belgium), Lorenzo Frattarolo (European Commission, Belgium), Luca Onorante (European Commission, Belgium), Filippo Pericoli (European Commission, Belgium), Marco Ratto (European Commission, Belgium) and Luca Tiozzo Pezzoli (European Commission, Belgium)
 Discussant: Ales Marsal
Parallel Session 6E: Labor Market II
9:00-11:00 (Lecture Room: Α1-2)
Chair: Tobias Schuler
Hopeless Hysteresis: Investigating Unemployment Persistence in South Africa, Vincent Dadam (University of Pretoria, South Africa) and Nicola Viegi (University of Pretoria, South Africa)
 Discussant: Jakub Mateju
Winners and losers: who benefits from monetary policy? The heterogeneous impact on labor market, Monika Junicke (Prague University of Economics and Business, Czech Republic), Jakub Mateju (Prague University of Economics and Business, Czech Republic and Czech National Bank, Czech Republic), Haroon Mumtaz (Queen Mary University of London, UK and Prague University of Economics and Business, Czech Republic) and Angeliki Theophilopoulou (Brunel University London, UK and Prague University of Economics and Business, Czech Republic)
 Discussant: Tobias Schuler
The impact of the COVID-19 pandemic on Output, Corporate Saving, Current Account and Labour Market: A VAR model perspective, Justus Böning (KU Leuven, Belgium) and Tobias Schuler (European Central Bank, Germany)
 Discussant: Vincent Dadam
11:00-11:30: Coffee break
11:30-13:00 Amphitheatre Δ7 )
Chair: Georgios P. Kouretas
Haluk Unal (Robert H. Smith School of Business, University of Maryland, USA)
“Do Municipalities Pay More to Issue Unrated Bonds?”
13:00-14:00: Lunch
14:00-15:30 (Amphitheatre Δ7)
Chair: Athanasios P. Papadopoulos
Dimitris Papanikolaou (Northwestern University, USA)
Technology and Human Capital
15:30-16:00: Coffee break
Parallel Session 7A: Banking and Finance III
16:00-18:00 (Lecture Room: Α2-2)
Chair: Praveen Gupta
Does vaccination against COVID-19 affect bank behavior?, Boungou Whelsy (Paris School of Business, France)
 Discussant: Praveen Gupta
Club convergence in bank asset liquidity over the 2007–2019 period, Jari-Mikko Meriläinen (Jyväskylä University School of Business and Economics, Finland) and Juha Junttila (Jyväskylä University School of Business and Economics, Finland)
 Discussant:  Mikhail Mamonov
Quo Vadis? Evidence on New Firm-Bank Matching and Firm Performance Following Bad Bank Closures, Mikhail Mamonov (Center for Economic Research and Graduate Education – Economics Institute (CERGE-EI), Czech Republic), Roman Goncharenko (KU Leuven, Belgium), Steven Ongena (University of Zurich, Switzerland), Svetlana Popova (Central Bank of Russia, Russia) and Natalia Turdyeva (Central Bank of Russia, Russia)
 Discussant: Jari-Mikko Meriläinen
Does funding type matter for bank stability in an emerging market? The role of deposit funding, Praveen Gupta (Queen Mary University of London, UK),  Sushanta Mallick (Queen Mary University of London, UK) and Deven Bathia (Queen Mary University of London, UK)
 Discussant: Boungou Whelsy
Parallel Session 7B: Financial Markets III
16:00-18:00 (Lecture Room: Α2-3)
Chair: Ekaterini Panopoulou
Financial Stability and Actively Traded Exchange-Traded Funds, Michael Heinrich Baumann (University of Bayreuth, Germany), Michaela Baumann (University of Bayreuth, Germany) and Bernhard Herz (University of Bayreuth, Germany)
 Discussant: Ekaterini Panopoulou
A comprehensive approach to survival analysis of hedge funds, Ekaterini Panopoulou (University of Essex, UK) and Spyridon Vrontos (University of Essex, UK)
 Discussant: Marco Rispoli
Debt Maturity and Cost-complementarities, Marco Rispoli (University of Milano-Bicocca, Italy)
 Discussant: Spyridon Vrontos
Denoising the Equity Premium: A Wavelet Quantile Approach, Ekaterini Panopoulou (Essex Business School, UK ) and Antonis Alexandridis (University of Macedonia, Greece)
 Discussant: Michael Heinrich Baumann
Parallel Session 7C: Exchange Rates and Cryptocurrencies
16:00-18:00 (Lecture Room: Α3-2)
Chair: Štefan Lyócsa
CBDC as Competitor for Bank Deposits and Cryptocurrencies, Max Fuchs (University of Kassel, Germany)
 Discussant: Štefan Lyócsa
Investors’ Behavior in Cryptocurrency Market, Stelios Arvanitis (Athens University of Economics and Business, Greece), Nikolas Topaloglou (Athens University of Economics and Business, Greece) and Georgios Tsomidis (Athens University of Economics and Business, Greece)
 Discussant: Boris Fisera
Exchange Rates and the Speed of Economic Recovery: The Role of Financial Development, Boris Fisera (Charles University, Czech Republic)
 Discussant:  Nikolas Topaloglou
Forecasting Day-ahead Expected Shortfall on the EUR/USD Exchange Rate: The (I)relevance of Implied Volatility, Štefan Lyócsa (Masaryk University, Brno, Czech Republic),  Tomáš Plíhal (Masaryk University, Brno, Czech Republic) and Tomáš Výrost (Masaryk University, Brno, Czech Republic)
 Discussant: Max Fuchs
Parallel Session 7D: Economics and Econometrics
16:00-18:00 (Lecture Room: Α3-3)
Chair: Dimitrios I. Vortelinos
Parental Involvement and Education Outcomes of Their Children, Klára Kantová (Charles University, Czech Republic)
 Discussant: Crina Pungulescu
Bilateral Home Bias: A New Measure of Proximity, Crina Pungulescu (John Cabot University, Italy)
 Discussant: Dimitrios I. Vortelinos
Nonparametric estimation and forecasting of correlation: Nearest neighbors and macro variables, Dimitrios I. Vortelinos (Hellenic Mediterranean University, Greece), Kostas Gillas (Hellenic Mediterranean University, Greece),  Christos Floros (Hellenic Mediterranean University, Greece)
 Discussant: Klára Kantová