|
| Final
Programme |
| Last
Update: May 19, 15:00 |
|
| Thursday,
May 30th, 2019 |
|
| 8:00-9:00: Registration at the Department of Economics |
|
| Parallel
Session 1A: Banking and Finance I |
| 9:00-11:00
(Lecture Room: Α2-2) |
| Chair:
Anna Samarina |
|
| Negative Interest Rates, Bank Profitability and
Risk-taking, Whelsy
Boungou (LAREFI - University of Bordeaux,
France) |
| Discussant: Anna Samarina |
| Comparing Different Methods for the Estimation of
Interbank Intraday Yield Curves, Anastasios Demertzidis
(University of Kassel, Germany) and Vahidin Jeleskovic (University of Kassel,
Germany) |
| Discussant: Melina Ludolph |
| The Nexus between Loan Portfolio Size and Volatility: Does
Banking Regulation Matter?, Melina Ludolph (Humboldt
University Berlin, Germany) and Franziska Bremus (DIW Berlin, Germany) |
| Discussant: Anastasios Demertzidis |
| Debt Shift, Financial Development and Income Inequality, Anna Samarina (Bank of The Netherlands) and Dirk Bezemer (University
of Groningen, The Netherlands) |
| Discussant: Whelsy Boungou |
|
| Parallel
Session 1B: Macroeconomic Theory and Policy I |
| 9:00-11:00
(Lecture Room: Α2-3) |
| Chair:
Martin Micheli |
|
| Bank Asset Portfolios, Uncertainty and Macroeconomy, Ekaterina Pirozhkova (University of Pretoria, South Africa) |
| Discussant: Martin Micheli |
| Fiscal Regimes and the (Non)stationarity of Debt, Josef Hollmayr (German Bundesbank) |
| Discussant: Tatiana Kirsanova |
| Deep Recessions, Tatiana Kirsanova
(University of Glasgow, UK), Charles Nolan (University of Glasgow, UK) and
Maryam Shaifiei Deh Abad (University of Glasgow, UK) |
| Discussant: Josef Hollmayr |
| Aggregate Stability under a Budget Rule and Labor Mobility, Martin Micheli (RWI Essen, Germany) |
| Discussant: Ekaterina Pirozhkova |
|
| Parallel
Session 1C: Financial Markets I |
| 9:00-11:00
(Lecture Room: Α3-2) |
| Chair:
Istvan Konya |
|
| Realized Volatility Spillovers between US Spot and Futures
during the ECB Events, Konstantinos Gkillas (University of Patras, Greece), Christos Floros (TEI of
Crete, Greece), Dimitrios Vortelinos (University of Lincoln, UK) and
Athanasios Tsagkanos (University of Patras, Greece) |
| Discussant: Istvan Konya |
| Risk-managing Asset Pricing Factors: Evidence from Global
Equity Markets, Klaus Grobys (University
of Vaasa, Finland) and Janne Äijö (University of Vaasa, Finland) |
| Discussant: Pawel Fiedor |
| Securitisation special purpose entities, bank sponsors and
derivatives, Pawel
Fiedor (Central Bank of Ireland) and Neill
Killeen (Central Bank of Ireland) |
| Discussant: Klaus Grobys |
| Interest Premium and External Position: A Time Varying
Approach, Istvan
Konya (Hungarian Academy of Sciences) and
Franklin Maduko (Central European University, Hungary) |
| Discussant: Christos Floros |
|
| Parallel
Session 1D: European Union and Eurozone I |
| 9:00-11:00
(Lecture Room: Α3-3) |
| Chair:
Julia Le Blanc |
|
| Innovation and Inequality in the EU: For Better or for
Worse?, Stelios
Karagiannis (European Commission, Joint
Research Centre, Belgium) and Roman Raab (European Commission, Joint Research
Centre, Belgium) |
| Discussant: Julia Le Blanc |
| Legal Harmonization, Institutional Quality, and Countries'
External Positions: A Sectoral Analysis, Tatsiana Kliatskova (DIW
Berlin and Free University of Berlin, Germany) and Franziska Bremus (DIW
Berlin and Free University of Berlin, Germany) |
| Discussant: Kamila Kuziemska-Pawlak |
| Structural Current Account Benchmarks for the European
Union: Cross Section Exploration, Kamila Kuziemska-Pawlak
(National Bank of Poland) and Jakub Muck (National Bank of Poland) |
| Discussant: Tatsiana Kliatskova |
| MPC Heterogeneity in Europe: Sources and Policy
Implications, Miguel
Ampudia (European Central Bank, Germany), Russell Cooper (European University
Institute, Italy), Julia Le Blanc (German Bundesbank) and Guozhong Zhu (University of
Alberta, Canada) |
| Discussant: Stelios Karagiannis |
|
| Parallel
Session 1E: Fiscal Policy I |
| 9:00-11:00
(Lecture Room: Α2-1) |
| Chair:
Kieran James Walsh |
|
| Fiscal Policy and the Assessment of Output Gaps in Real
Time: An Exercise in Risk Management, Martin Larch (European Commission, Belgium), Alessandro Cugnasca
(European Commission, Belgium), Diederik Kumps (Free University of Brussels,
Belgium) and Eloise Orseau (European Commission, Belgium) |
| Discussant: Kieran James Walsh |
| Government Investment, Its Financing and the Public
Capital Stock: A Business Cycle Perspective, Ronan Hickey (Central Bank of Ireland), Matija Lozej (Central
Bank of Ireland) and Diarmaid Smyth (Department of Finance, Ireland) |
| Discussant: Philipp Pfeiffer |
| Fiscal Policy in EMU with Downward Nominal Wage Rigidity, Matthias Burgert (Swiss
National Bank), Philipp Pfeiffer (European Commission, DG ECFIN, Belgium) and Werner
Roeger (European Commission, DG ECFIN, Belgium) |
| Discussant: Matija Lozej |
| Saving Constraints, Debt, and the Credit Market Response
to Fiscal Stimulus: Theory and Cross-Country Evidence, Jorge Miranda-Pinto
(University of Queensland, Australia), Dan Murphy (University of Virginia,
USA), Kieran James Walsh (University of Virginia, USA) and Eric Young (University
of Virginia, USA) |
| Discussant: Alessandro Cugnasca |
|
| 11:00-11:30:
Coffee break |
|
| Parallel
Session 2A: Monetary Theory and Policy I |
| 11:30-13:30
(Lecture Room: Α2-2) |
| Chair:
Bennani Hamza |
|
| Monetary Policy when Preferences are Quasi-Geometric, Richard Dennis
(University of Glasgow, UK) and Oleg
Kirsanov (University of Glasgow, UK) |
| Discussant: Bennani Hamza |
| The Nexus between Macroprudential Policy and Credit Growth, Alin Marius Andries
(Alexandru Ioan Cuza University of Iasi, Romania) and Florentina Melnic
(Alexandru Ioan Cuza University of Iasi, Romania) |
| Discussant: Samu Karkkainen |
| Heterogeneous Households, Quantitative Easing, and
Inequality, Samu
Karkkainen (University of Jyvaskyla,
Finland) |
| Discussant: Florentina Melnic |
| Investor Sentiment and Central Bank Communication, Bennani Hamza (University Paris Nanterre, France) |
| Discussant: Oleg Kirsanov |
|
| Parallel
Session 2Β: Financial Markets IΙ |
| 11:30-13:30
(Lecture Room: Α2-3) |
| Chair:
Dominik Maltritz |
|
| Financial Stress and the Probability of Sovereign Default, Caterina Maria Rho (Bank of Mexico) and Manrique Saenz (International
Monetary Fund, USA) |
| Discussant: Dominik Maltritz |
| Multidimensional Financial Development, Exporter Behavior
and Export Diversification, Mika Nieminen
(University of Jyvaskyla, Finland) |
| Discussant: Jolana Stejskalová |
| Behavioural
Attention to Financial Indicators: Evidence from Google Trends Data, Jolana Stejskalová
(Mendel University in Brno, Czech Republic) |
| Discussant: Mika Nieminen |
| Determinants of Haircuts on Sovereign Debt, Dominik Maltritz (University of Erfurt, Germany) |
| Discussant: Caterina Maria Rho |
|
| Parallel
Session 2C: Exchange Rate Economics I |
| 11:30-13:30
(Lecture Room: Α3-2) |
| Chair:
Max Breitenlechner |
|
| Real Effective Exchange Rates Determinants and Growth:
Lessons from Italian Regions, Silvia Calo' (Central
Bank of Ireland) and Mariarosaria Comunale (Bank of Lithuania and European
Central Bank, Germany) |
| Discussant: Max Breitenlechner |
| Effects of Business Cycle on Real Exchange Rate
Misalignments with Respect to Exchange Rate Regime, Jihene Jebeniani (IHEC
Carthage, University of Tunisia), Moise Sidiropoulos (BETA University of
Strasbourg, France) and Jamel Trabelsi (BETA University of Strasbourg, France) |
| Discussant: Michael Fidora |
| Capital Flows and the Real Exchange Rate, Michael Fidora (European Central Bank, Germany), Gabriella Massenz
(Tilburg University, The Netherlands) and Martin Schmitz (European Central
Bank, Germany) |
| Discussant: Jamel Trabelsi |
| Do Flexible Exchange Rates Stabilize the Economy? New
Results from SVAR Analyses, Max Breitenlechner
(University of Innsbruck, Austria) and Johann Scharler (University of
Innsbruck, Austria) |
| Discussant: Silvia Calo' |
|
| Parallel
Session 2D: Banking and Finance II |
| 11:30-13:30
(Lecture Room: Α3-3) |
| Chair:
Maria-Eleni K. Agoraki |
|
| How to Measure Lending Policy Stance of Commercial Banks?, Ewa Wrobel (National Bank of Poland) |
| Discussant: Maria-Eleni K. Agoraki |
| Assessing Bank Efficiency and Stability, Konstantinos Baltas (University of Essex, UK) |
| Discussant: Michael Sigmund |
| The Impact of Unconventional Monetary Policy on Major
European Banks' Interest Spreads, Michael Sigmund
(National Bank of Austria) and Sophia Doeme (FMA Liechtenstein) |
| Discussant: Konstantinos Baltas |
| The Impact of Credit Rating on the IPOs of U.S. Banks, Maria-Eleni K. Agoraki (Athens University of Economics and Business, Greece),
Dimitrios Gounopoulos (University of Bath, UK) and Georgios Kouretas (Athens
University of Economics and Business, Greece) |
| Discussant: Ewa Wrobel |
|
| Parallel
Session 2E: Financial Econometrics |
| 11:30-13:30
(Lecture Room: Α2-1) |
| Chair:
Stefan Lyocsa |
|
| Transforming Quarterly into Monthly Time Series. An
Application to Swiss Business Tendency Survey Data, Michael Graff (ETH Zurich, Switzerland), Klaus Abberger (ETH Zurich,
Switzerland), Oliver Muller (ETH Zurich, Switzerland) and Boriss Siliverstovs
(Bank of Latvia) |
| Discussant: Tomas Vyrost |
| Why is the Market Skewness-return Relationship Negative?, Thorsten Lehnert (Luxembourg School of Finance) |
| Discussant: Juha-Pekka Junttila |
| Re-assessing Stock Market Anomalies Using a Stochastic
Spanning Framework, George Chalamandaris (Athens University of Economics and
Business, Greece), Spyros Pagratis (Athens University of Economics and
Business, Greece) and Nikolas Topaloglou (Athens University of Economics and Business, Greece) |
| Discussant: Thorsten Lehnert |
| Exploiting Highs and Lows for Volatility Forecasting, Jozef Kiselak (P. J.
Šafárik University in Košice, Slovakia), Stefan
Lyocsa (University of Economics in
Bratislava, Slovakia,), Neda Todorova (Griffith University, Australia) and Tomas Vyrost (University
of Economics in Bratislava, Slovakia) |
| Discussant: Michael Graff |
| Discussant: |
|
| 13:30-14:30: Lunch |
|
| Parallel
Session 3A: Macroeconomic Theory and Policy II |
| 14:30-16:30
(Lecture Room: Α2-2) |
| Chair:
Ansgar Belke |
|
| Loss aversion, economic sentiments and international
consumption smoothing, Daragh Clancy (European
Stability Mechanism, Germany) and Lorenzo Ricci (European Stability
Mechanism, Germany) |
| Discussant: Ansgar Belke |
| Liquidity of Saving Instruments and Fire Sales, Axelle Arquie (CEPII, France) |
| Discussant: Andrea Colciago |
| Competition and Inequality: Aiyagari Meets Bertrand and
Cournot, Andrea
Colciago (Central Bank of The Netherlands
and University of Milano Bicocca, Italy) and Rajssa Mechelli (Catholic
University of Milan, Italy) |
| Discussant: Axelle Arquie |
| Interest Rate Hysteresis in Macroeconomic Investment, Ansgar Belke (University of Duisburg-Essen, Germany; CEPS Brussels,
Belgium and King's College London, UK) and Matthias Goecke (Justus Liebig
University of Giessen, Germany) |
| Discussant: Daragh Clancy |
|
| Parallel
Session 3B: Financial Markets IIΙ |
| 14:30-16:30
(Lecture Room: Α2-3) |
| Chair:
Andreas Steiner |
|
| Uncertainty and International Stock Returns, Nektarios Aslanidis
(Rovira i Virgili University, Spain), Charlotte Christiansen (Aarhus
University, Denmark) and George Kouretas (Athens University of Economics and Business, Greece) |
| Discussant: Artemis Stratopoulou |
| It's not Time to Make a Change: Sovereign Fragility and
the Corporate Credit Risk, Andrea Zaghini (European Central Bank, Germany) and Fabio Fornari (European
Central Bank, Germany) |
| Discussant: Aikaterini Maria Katsarou |
| Exploring Patterns of Herding Behavior in Corporate Bond
Transactions, George
Chalamandaris (Athens University of Economics and Business, Greece) and Aikaterini Maria Katsarou
(Athens University of Economics and Business, Greece) |
| Discussant: Fabio Fornari |
| Measuring De Facto Financial Openness: A New Market-Based
Index, Andreas
Steiner (University of Groningen, The
Netherlands) |
| Discussant: Tomas Vyrost |
|
| Parallel
Session 3C: European Union and Eurozone II |
| 14:30-16:30
(Lecture Room: Α3-2) |
| Chair:
Tina Zumer |
|
| Management Skills and Mutual Funds Portfolio
Concentration: Evidence from Europe, Henri Vanhomwegen
(University of Namur, Belgium) and Jean-Yves Gnabo (University of Namur,
Belgium) |
| Discussant: Tina Zumer |
| Valuation Effects and Capital Flows - Security Level
Evidence from Euro Area Investors, Martin Schmitz (European Central Bank, Germany) and Katharina Bergant
(Harvard University, USA and Trinity College Dublin, Ireland) |
| Discussant: Francisco Nadal De Simone |
| (Systemic) Risk Taking in the Euro Area Investment Fund
Industry, Francisco
Nadal De Simone (Central Bank of Luxembourg) |
| Discussant: Katharina Bergant |
| Wage Growth in the CEE EU and Euro Area Countries:
(Dis)similarities and Spill-overs?, Tina Zumer (European
Central Bank, Germany), Irene Pablos Nuevo (European Central Bank, Germany),
Paloma Lopez-Garcia (European Central Bank, Germany), and Katerina Gradeva
(European Central Bank, Germany) |
| Discussant: Henri Vanhomwegen |
|
| Parallel
Session 3D: Exchange Rate Economics II |
| 14:30-16:30
(Lecture Room: Α3-3) |
| Chair:
Emilio Colombo |
|
| Connectedness between G10 Currencies: Searching for the
Causal Structure, Timo Bettendorf (German
Bundesbank) and Reinhold Heinlein (Keele University, UK) |
| Discussant: Emilio Colombo |
| Sentiment and US Dollar excess returns, Kari Heimonen (University of Jyvaskyla, Finland), Heikki Lehkonen
(University of Jyvaskyla, Finland) and Kuntara Pukthuanthong (University of
Missouri, USA) |
| Discussant: Thomas Chuffart |
| Did Carry Trades Hamper Quantitative Easing Effectiveness
in Japan?, Thomas
Chuffart (University of Burgundy -
Franche-Comté, France) and Cyril Dell'Eva (University of Pretoria, South
Africa) |
| Discussant: Kari Heimonen |
| Statistical
Learning and Exchange Rate Forecasting, Emilio
Colombo (Catholic University of the Sacred
Heart, Italy) and Matteo Pelagatti (University Milano Bicocca, Italy) |
| Discussant: Timo Bettendorf |
|
| Parallel
Session 3E: Monetary Unions |
| 14:30-16:30
(Lecture Room: Α2-1) |
| Chair:
Nicola Acocella |
|
| Labor Mobility in a Monetary Union, Daniela Hauser (Bank of
Canada) and Martin Seneca (Bank of England) |
| Discussant: Nicola Acocella |
| Debt Stabilisation and Financial Stability in a Monetary
Union: Market Vs. Authority-based Preventive Solutions, Christos
Mavrodimitrakis (King's College London, UK) |
| Discussant: Martin Mandler |
| Estimating the Effects of the Eurosystem's Asset Purchase
Programme at the Country Level, Martin Mandler (German
Bundesbank) and Michael Scharnagl (German Bundesbank) |
| Discussant: Christos Mavrodimitrakis |
| The "Uncovered Inflation Rate Parity" Condition
in a Monetary Union, Nicola Acocella
(Sapienza University of Rome, Italy) and Paolo Pasimeni (European Commission,
Belgium) |
| Discussant: Martin Seneca |
|
| 16:30-17:00:
Coffee break |
|
| Parallel
Session 4A: Macroeconomic Theory and Policy III |
| 17:00-19:00
(Lecture Room: Α2-2) |
| Chair:
Stefan Hohberger |
|
| Bilateral Synchronization in a Globalized World: a Global
Macroeconomic Approach, Jean-Sebastien Pentecote (CREM-Caen, France),
Jean-Christophe Poutineau (CREM-University of Rennes, France), Tovonony
Razafindrabe (CREM-University of Rennes, France) and Fabien Rondeau
(CREM-University of Rennes, France) |
| Discussant: Stefan Hohberger |
| Commodity Price Uncertainty as a Leading Indicator of
Economic Activity, Athanasios Triantafyllou
(University of Essex, UK), Dimitrios Bakas (Nottingham Trent University, UK)
and Marilou Ioakimidis (National and Kapodestrian University of Athens,
Greece) |
| Discussant: George Liontos |
| Who Benefits from International Cooperation - The Role of
Cross-country Asymmetries, George Liontos (Athens
University of Economics and Business, Greece) and Apostolis Philippopoulos
(Athens University of Economics and Business, Greece) |
| Discussant: Athanasios Triantafyllou |
| Global Spillovers in the Pre- and Post-crisis Environment:
Evidence from an Estimated Three-region DSGE Model, Olga Croitorov
(European Commission, JRC), Massimo Giovannini (European Commission, JRC,
Belgium), Stefan Hohberger (European Commission, JRC, Belgium), Marco Ratto
(European Commission, JRC, Belgium) and Lukas Vogel (European Commission, DG
ECFIN, Belgium) |
| Discussant: Roman Horvath |
|
| Parallel
Session 4B: Monetary Theory and Policy II |
| 17:00-19:00
(Lecture Room: Α2-3) |
| Chair:
Harald Sander |
|
| The Fed and the Stock Market: A Tale of Sentiment States, Haifeng Guo (Durham University Business School, UK), Chi-Hsiou D.
Hung (Adam Smith Business School, UK) and Alexandros
Kontonikas (Essex Business School, UK) |
| Discussant: Harald Sander |
| Credit Spreads and the Credit Channel of Monetary Policy, Evgenia Passari (University Paris Dauphine, France) and Ambrogio
Cesa-Bianchi (Bank of England) |
| Discussant: Louis-Marie Harpedanne de
Belleville |
| Real Effects of Central Bank Collateral Policy, Louis-Marie Harpedanne
de Belleville (Paris School of Economics,
France) |
| Discussant: Evgenia Passari |
| The Travels of a Bank Deposit in Turbulent Times: The
Importance of Deposit Insurance Design for Cross-Border Deposits, Harald Sander (TH Köln, Germany and Maastricht School of Management,
The Netherlands), Stefanie Kleimeier (Maastricht University, The Netherlands)
and Shusen Qi (Xiamen University, China) |
| Discussant: Alexandros Kontonikas |
|
| Parallel
Session 4C: Economic Growth I |
| 17:00-19:00
(Lecture Room: Α3-2) |
| Chair:
João Tovar Jalles |
|
| The Heterogeneous Nature of Foreign Direct Investment in
Central and Eastern European Countries. The Impact of the Mode of Entry on
Host Country Economic Growth, Marcin Andrzej Humanicki
(Warsaw School of Economics, Poland) and Krzysztof Olszewski (National Bank
of Poland) |
| Discussant: Joao Tovar Jalles |
| Regional Convergence and Spatial Dependence: A Worldwide
Perspective, Marcos
Sanso-Navarro (University of Zaragoza,
Spain), María Vera-Cabello (University of Zaragoza, Spain) and Miguel
Puente-Ajovín (University of Zaragoza, Spain) |
| Discussant: Tryfon Christou |
| Modeling
Rent Seeking Activities: Quality of Institutions, Macroeconomic Performance,
and the Economic Crisis, Tryfon Christou (Athens University of Economics and Business, Greece),
Apostolis Philippopoulos (Athens University of Economics and Business,
Greece) and Vanghelis Vassilatos (Athens University of Economics and
Business, Greece) |
| Discussant: Marcos Sanso-Navarro |
| TFP in the Aftermath of Recessions: New Evidence from
Sectoral Data, Davide Furceri (International Monetary Fund, USA), Sinem
Celik (World Bank, USA), João Tovar Jalles (International
Monetary Fund, USA) and Ksenia Koloskova (International Monetary Fund, USA) |
| Discussant: Marcin Andrzej Humanicki |
|
| Parallel
Session 4D: Fiscal Policy II |
| 17:00-19:00
(Lecture Room: Α3-3) |
| Chair:
Marien Ferdinanudsse |
|
| Uncertainty and Non-linear Macroeconomic Effects of Fiscal
policy in the US: A SEIVAR-based Analysis, Ansgar Belke (University of Duisburg-Essen, Germany; CEPS
Brussels, Belgium; IZA Bonn, Germany and King's College London, UK) and Pascal Goemans (Ruhr
Graduate School in Economics and University of Duisburg-Essen, Germany) |
| Discussant: Marien Ferdinanudsse |
| Public Debt Consolidation and its Distributional Effects, Stelios Sakkas
(European Commission, Belgium) and Petros
Varthalitis (Economic and Social Research
Institute, Ireland) |
| Discussant: Duc Khuong Nguyen |
| Fiscal Nowcasting, Jacopo Cimadomo
(European Central Bank, Germany), Domenico Giannone (Federal Reserve Bank of
New York, USA) and Michele Lenza (European Central Bank, Germany) |
| Discussant: Petros Varthalitis |
| Non-linearities in Fiscal Policy: Evidence from the
Eurozone, Gerogios
Palaiodimos (European Stability Mechanism, Germany), Panagiotis Politsidis
(University of Sidney, Australia) and Marien
Ferdinanudsse (European Central Bank,
Germany) |
| Discussant: Pascal Goemans |
|
| Parallel
Session 4E: Banking and Finance III |
| 17:00-19:00
(Lecture Room: Α2-1) |
| Chair:
Harris Dellas |
|
| Post-crisis Bank Survival in European Emerging Markets, Evzen Kocenda (Charles University, Czech Republic and CESifo, Germany)
and Ichiro Iwasaki (Hitotsubashi University, Japan) |
|
|
|
|
|
| Discussant: Martin Geiger |
| On the Bank-Return Spillovers in Advanced Economies, George N. Apostolakis (University of Crete and TEI of Crete, Greece) and
Christos Floros (TEI of Crete, Greece) |
| Discussant: Svatopluk Kapounek |
| Risks and Financial Vulnerability of Foreign Bank
Ownership in CEECs: Evidence from Exchange Rate Depreciation after the
Financial Crisis, Jarko Fidrmuc (Zeppelin University in Friedrichshafen,
Germany) and Svatopluk Kapounek (Mendel University in Brno, Czech Republic) |
| Discussant: George N. Apostolakis |
| Fiscal Distress and Banking Performance: The Role of
Macroprudential Regulation, Hiona Balfoussia (Bank of Greece), Harris Dellas
(Universrity of Bern, Switzerland) and Dimitris Papageorgiou (Bank of Greece) |
| Discussant: Evzen Kocenda |
|
| 20:30: Welcome Reception and Gala Dinner at THEARTEMIS PALACE
HOTEL |
|
| Friday,
May 31st, 2019 |
|
| Parallel
Session 5A: Journal of International Money and Finance I |
| 9:00-11:30
(Lecture Room: Α2-2) |
| Chair:
Duc Khuong Nguyen |
|
| Finance and Wealth Inequality, Iftekhar Hasan (Fordham
University, USA), Roman Horvath (Charles University, Czech Republic) and Jan Mares
(Charles University, Czech Republic) |
| Discussant: Fabien Rondeau |
| Financial Distress and the Transmission of Macroeconomic
Uncertainty: International Evidence, Martin Gaechter (Liechtenstein Financial Market
Authority), Martin Geiger (University of Innsbruck, Austria) and Sebastian Stoeckl
(University of Liechtenstein) |
| Discussant: Harris Dellas |
| Assessing the Effects of Capital Account Liberalization on
Savings, Panagiotis
Th. Konstantinou (Athens University of Economics and Business, Greece),
Thomas Moutos (Athens University of Economics and Business, Greece and
CESifo, Germany) and Artemis Stratopoulou (Athens University of Economics and Business, Greece) |
| Discussant: Andreas Steiner |
| The Relationship between Credit Ratings and Asset
Liquidity: Evidence from Western European Banks,
Juha-Pekka Junttila (University of Jyväskylä, Finland) and Jari Mikko
Meriläinen (University of Vaasa, Finland) |
| Discussant: Nikolas Topaloglou |
| The Diabolic Loop in a Monetary Union: Banking Fragility,
Sovereign Risk, and Fiscal Policy, Sabri Boubaker (Champagne School of Management, France),
Dimirtios Gounopoulos (University of Bath, UK), Duc Khuong Nguyen (IPAG
Business School, France) and Nikos Paltalidis (Durham University, UK) |
| Discussant: Jacopo Cimadomo |
|
| Parallel
Session 5B: Business Cycles I |
| 9:00-11:30
(Lecture Room: Α2-3) |
| Chair:
Marco Di Pietro |
|
| The Switching Skewness over the Business Cycle, Stephane Lhuissier (Bank of France) |
| Discussant: Dinh-Tri Vo |
| Commercial Real Estate, Housing and the Business Cycle, Kostas Vasilopoulos (Lancaster University, UK) and William Tayler (Lancaster
University, UK) |
| Discussant: Stephane Lhuissier |
| Recessions as Breadwinner for Forecasters, Boriss Siliverstovs (Bank of Latvia) and Daniel Wochner (KOF-ETH Zurich,
Switzerland) |
| Discussant: Kostas Vasilopoulos |
| Engines of Non-life Insurance Market Activities, Dinh-Tri Vo (IPAG Business School, France and University of
Economics Hochiminh City, Vietnam) |
| Discussant: Marco Di Pietro |
| The Bank Monitoring Channel of Business Cycle, Qingqing Cao (Michigan
State University, USA), Marco Di Pietro (Sapienza University of Rome, Italy) and Raoul Minetti
(Michigan State University, USA) |
| Discussant: Boriss Siliverstovs |
|
| Parallel
Session 5C: Labour Market I |
| 9:00-11:30
(Lecture Room: Α3-2) |
| Chair:
Davide Furceri |
|
| Risk Aversion, the Labor Market, and Asset Prices, Marc Nueckles (University of Duisburg-Essen, Germany) |
| Discussant: Maria Varvataki |
| Labour Market Productivity in Scotland: Embedding
Inclusive Growth within the “Productivity Puzzle” Narrative, Ioannis Petrakis
(Glasgow Caledonian University, UK) |
| Discussant: Stefanos Mamakis |
| Taxes, Social Insurance Contributions and Undeclared
Labour in Unionized Oligopoly , Minas Vlassis (University of Crete, Greece), Stefanos Mamakis
(University of Crete, Greece) and Maria Varvataki (University of Crete,
Greece) |
| Discussant: Elisa Guglielminetti |
| Labour Productivity and the Wageless Recovery, Antonio M. Conti (Bank
of Italy), Elisa Guglielminetti (Bank of Italy) and Marianna Riggi (Bank of Italy) |
| Discussant: Ioannis Petrakis |
| Wait-and-See Channel of Uncertainty Shocks and Labor
Market Dynamics, Davide Furceri
(International Monetary Fund, USA) and Sangyup Choi (Yonsey University, South
Korea) |
| Discussant: Marc Nueckles |
|
| Parallel
Session 5D: Monetary Theory and Policy III |
| 9:00-11:00
(Lecture Room: Α3-3) |
| Chair:
Lilia Cavallari |
|
| Targeted Impulse Responses,
Anindya Banerjee (University of Birmingham,
UK), Massimiliano Marcellino (Bocconi University, Italy) and Igor Masten (University
of Ljubljana, Slovenia) |
| Discussant: Lilia Cavallari |
| The Trilemma and the Financial Channel of Exchange Rates, Georgios Georgiadis (European Central Bank, Germany) and Feng Zhu (Bank of
International Settlements, Switzerland) |
| Discussant: Massimiliano Pisani |
| Exchange Rate Pass-Through into Euro Area Inflation. An
Estimated Structural Model, Lorenzo Burlon (European Central Bank, Germany),
Alessandro Notarpietro (Bank of Italy) and Massimiliano
Pisani (Bank of Italy) |
| Discussant: Daniel Kienzler |
| Monetary Policy with Non-homothetic Preferences, Lilia Cavallari (University of Rome Tre, Italy) |
| Discussant: Igor Masten |
|
| Parallel
Session 5E: Financial Markets IV |
| 9:00-11:00
(Lecture Room: Α2-1) |
| Chair:
Sofia Anyfantaki |
|
| The Term Structure of Redenomination Risk, Chi Hyun Kim (DIW Berlin, Germany), Alexander Kriwoluzky (DIW Berlin,
Germany) and Christian Bayer (University of Bonn, Germany) |
| Discussant: Sofia Anyfantaki |
| Financial (In)Stability Analysis for Greece, Maria-Eleni K. Agoraki
(Athens University of Economics and Business, Greece), Georgios P. Kouretas
(Athens University of Economics and Business, Greece) and Dimitrios P.
Tsomokos (University of Oxford, UK) |
| Discussant: Theshne Kisten |
| A Financial Stress Index for South Africa: A Time-varying
Correlation Approach, Theshne Kisten
(University of Pretoria, South Africa) |
| Discussant: Heikki Lehkonen |
| Stochastic Bounds for Portfolio Analysis, Sofia Anyfantaki (Athens University of Economics and Business, Greece),
Stelios Arvanitis (Athens University of Economics and Business, Greece),
Thierry Post (Nazarbayev University, Kazakhstan) and Nikolas Topaloglou
(Athens University of Economics and Business, Greece) |
| Discussant: Chi Hyun Kim |
|
| Parallel
Session 5F: Exchange Rate Economics III |
| 9:00-11:00
(Lecture Room: Α1-2) |
| Chair:
Mariya Mileva |
|
| The Impact of International Capital Flows on Domestic
Investment, Pablo
Anaya (Free University of Berlin and DIW
Berlin, Germany) and Florentine Schwark (Humboldt University of Berlin,
Germany) |
| Discussant: Mariya Mileva |
| Cryptocurrency Market Efficiency: Evidence from
Time-Frequency Analysis, Jarko Fidrmuc (Zeppelin
University Friedrichshafen, Germany), Svatopluk Kapounek (Mendel University
Brno, Czech Republic) and Frederik Junge (Zeppelin University
Friedrichshafen, Germany) |
| Discussant: Vasiliki Chatzikonstanti |
| FX Rates Black Swans: Self-fulfilling Expectations when
There Is Blood on the Streets, Vasiliki Chatzikonstanti
(University of Groningen, The Netherlands), Michail Karoglou (Aston
University, UK) and Kostas Mouratidis (Sheffield University, UK) |
| Discussant: Jarko Fidrmuc |
| The Dynamic and Distributional Aspects of Import Tariffs, Wolfgang Lechthaler
(Kiel Institute for the World Economy, Germany) and Mariya Mileva
(California State University Long Beach, USA) |
| Discussant: Pablo Anaya |
|
| 11:00-11:30:
Coffee break |
|
| KEYNOTE
SPEECH - THE BANK OF GREECE PLENARY SESSION |
| 11:30-13:00
(Amphitheatre Δ3-7Α) |
| Chair: Georgios P.
Kouretas (Athens University of Economics and Business, Greece) |
|
| Iftekhar Hasan (Fordham
University, USA) |
| "Impact of Social
Capital on Economic Attitudes and Outcomes" |
|
| 13:00-14:30: Lunch |
|
| KEYNOTE
SPEECH - THE UNIVERSITY OF CRETE PLENARY SESSION |
| 14:30-16:00
(Amphitheatre Δ3-7Α) |
| Chair: Athanasios P.
Papadopoulos (University of Crete, Greece) |
|
| Lars Peter Hansen
(University of Chicago, USA) |
| "Pricing Uncertainty
Induced by Climate Change" |
|
| 16:00-16:30:
Coffee break |
|
| Workshop:
“Retrospective on Monetary Policy During the recent Financial Crisis” |
| 16:30-18:30
(Amphitheatre Δ3-7Α) |
| Coordinator: Georgios P.
Kouretas (Athens University of Economics and Business, Greece) |
|
| Yannis Stournaras
(Governor of the Bank of Greece) |
| Fritz Zurbruegg (Vice
Chairman of the Governing Board, Swiss National Bank) |
| Liviu Voinea (Deputy
Governor of the National Bank of Romania) |
| Charles Wyplosz (Graduate
Institute of International and Development Studies in Geneva, Switzerland) |
|
| Saturday,
June 1st, 2019 |
|
| Parallel
Session 6A: Journal of International Money and Finance II |
| 9:00-11:00
(Lecture Room: Α2-2) |
| Chair:
Paul D. McNelis |
|
| The Effect of Emergency Liquidity Assistance (ELA) on Bank
Lending during the Euro Area Crisis, Heather D. Gibson (Bank of Greece), Stephen G. Hall (Bank
of Greece), Pavlos Petroulas (Bank of Greece) and George S. Tavlas (Bank
of Greece) |
| Discussant: Georgios Georgiadis |
| Macroprudential and Monetary Policies: The Need to Dance
the Tango in Harmony, Jose David Garcia Revelo
(University of Orleans, France), Yannick Lucotte (University of Orleans,
France) and Florian Pradines-Jobet (PSB Paris School of Business, France) |
| Discussant: Michele Lenza |
| Fragility and the Macroeconomic Effects of International
Uncertainty Shocks, Luca Onorante (European
Central Bank, Germany), Jesus Crespo Cuaresma (Vienna University of Economics
and Business, Austria) and Florian Huber (University of Salzburg, Austria) |
| Discussant: Reinhard Neck |
| Sudden Stops in the Euro Area: Does Monetary Union Matter?, Gabriel Fagan (Trinity
College, Ireland and European Central
Bank, Germany) and Paul D. McNelis (Fordham University, USA) |
| Discussant: Gerhard Ruenstler |
|
| Parallel
Session 6B: Macroeconomic Theory and Policy IV |
| 9:00-11:00
(Lecture Room: Α2-3) |
| Chair:
Andrey Polbin |
|
| The Impact of the Structural Reforms of the Greek Economy
on the Health Status of Unemployed, Vanessa Barmpagianni
(University of Ioannina, Greece) and Michael Chletsos (University of Piraeus,
Greece) |
| Discussant: Andrey Polbin |
| Demographic Change and the German Current Account Surplus, Matthias Schoen (German Bundesbank) |
| Discussant: Vasiliki Eirini Dimakopoulou |
| Monetary Policy Activism in General Equilibrium, Vasiliki Eirini
Dimakopoulou (University of Warwick , UK) |
| Discussant: Fabien Tripier |
| A Bivariate Forecasting Model for Russian GDP under
Structural Changes in Monetary Policy and Long-Term Growth, Andrey Polbin (Russian Presidential Academy of National Economy and
Public Administration) and Nikita FOKIN (Russian Presidential Academy of
National Economy and Public Administration) |
| Discussant: Vanessa Barmpagianni |
|
| Parallel
Session 6C: Banking and Finance IV |
| 9:00-11:00
(Lecture Room: Α3-2) |
| Chair:
Zacharias Bragoudakis |
|
| Economic Policy Uncertainty and the Short and Long Term
Regulatory Liquidity Needs of US Bank Holding Companies, Timotheos Angelidis
(University of Peloponnese, Greece), Ekaterini Panopoulou (University of
Kent, UK), Andromachi Papachristopoulou (University of Kent, UK) and Christos Tsoumas (Hellenic
Open University, Greece) |
| Discussant: Michael O’Grady |
| Contagion in Large US banking Institutions: A Robust
Analysis, Jean-Yves
Gnabo (University of Namur, Belgium), Sophie
Béreau (CORE and Catholic University of Leuven, Belgium), Nicolas Debarsy
(CNRS and University of Lille, France) and Cyrille Dossougoin (CORE and
Catholic University of Leuven, Belgium) |
| Discussant: Andromachi Papachristopoulou |
| Agreement is Boring: Market and Regulatory Bank-risk
Perceptions and Corporate Lending, Manthos D. Delis (Montpellier Business School, France),
Suk-Joong Kim (University of Sydney, Australia), Panagiotis Politsidis
(University of Sydney, Australia) and Eliza Wu (University of Sydney,
Australia) |
| Discussant: Zacharias Bragoudakis |
| Non-Performing Loans, Governance Indicators and Systemic
Liquidity Risk: Evidence from Greece, Dimitrios Anastasiou (Athens University of Economics and
Business, Greece), Zacharias Bragoudakis (Bank of Greece) and Ioannis Malandrakis (Athens
University of Economics and Business, Greece) |
| Discussant: Panagiotis N. Politsidis |
|
| Parallel
Session 6D: Business Cycles II |
| 9:00-11:00
(Lecture Room: Α3-3) |
| Chair:
Raoul Minetti |
|
| International Co-movements in Recessions, Moritz Alexander Roth (Bank of Spain) |
| Discussant: Ilayda Nemlioglu |
| Corporate Debt, Capital Flows, and International Business
Cycles, Tommaso
Trani (University of Navarra, Spain) |
| Discussant: Sercan Eraslan |
| Recession Probabilities Falling from the STARs, Sercan Eraslan (German Bundesbank) and Marvin Noeller (University of
Bonn, Germany) |
| Discussant: Tommaso Trani |
| Relationship
Banking and Firm Entry Dynamics, Raoul Minetti (Michigan
State University, USA), Qingqing Cao (Michigan State University, USA), Paolo
E. Giordani (LUISS Guido Carli, Italy) and Pierluigi Murro (LUISS Guido
Carli, Italy) |
| Discussant: Moritz Alexander Roth |
|
| Parallel
Session 6E: Emerging Markets |
| 9:00-11:00
(Lecture Room: Α2-1) |
| Chair:
Malgorzata Pawlowska |
|
| The Decomposition of the Impact of International Monetary
Spillovers to Emerging Market Economies, Francisco Eduardo Luna A. Santos (Institute for Applied Economic Research, Brazil) and
Márcio Gomes Pinto Garcia (Pontifical Catholic University of Rio de Janeiro,
Brazil) |
| Discussant: Malgorzata Pawlowska |
| Speculative Dynamics in the Chinese Stock Market: Evidence
from Cross-Listed Securities, Efthymios Pavlidis
(Lancaster University, UK) and Kostas Vasilopoulos (Lancaster University, UK) |
| Discussant: Serafeim Tsoukas |
| Does Easing Controls on Foreign Currency Borrowings Boost
Exporting Intensity of Indian Firms?, Udichibarna Bose (University of Essex, UK), Sushanta
Mallick (Queen Mary University of London, UK) and Serafeim Tsoukas
(University of Glasgow, UK) |
| Discussant: Efthymios Pavlidis |
| The Market Structure and International Banking: Lessons
from Loan's Market in the EU, Malgorzata Pawlowska
(Warsaw School of Economics, Poland) and Georgios Kouretas (Athens University
of Economics and Business, Greece) |
| Discussant: Francisco Eduardo Luna A. Santos |
|
| 11:00-11:30:
Coffee break |
|
| KEYNOTE
SPEECH - THE REGION OF CRETE PLENARY SESSION |
| 11:30-13:00
(Amphitheatre Δ3-7Α) |
| Chair: Nikolaos
Giannellis (University of Crete, Greece) |
|
| Elias Papaioannou (London
Business School, UK) |
| "The Internalization
of Corporate Control and Ownership" |
|
| 13:00-14:00: Lunch |
|
| KEYNOTE
SPEECH - THE UNIVERSITY OF CRETE PLENARY SESSION |
| 14:00-15:30
(Amphitheatre Δ3-7Α) |
| Chair: Minoas
Koukouritakis (University of Crete, Greece) |
|
| Sebastian Edwards
(University of California Los Angeles, USA) |
| "The Macroeconomics
of Populism in the Absence of Fiscal Dominance" |
|
| 15:30-16:00:
Coffee break |
|
| Parallel
Session 7A: Journal of International Money and Finance III |
| 16:00-18:00
(Lecture Room: Α2-2) |
| Chair:
Fabien Tripier |
|
| Bank Business Models as a Driver of Cross-border
Activities, Mary
Everett (Central Bank of Ireland), Peter E.
McQuade (Central Bank of Ireland) and Michael O’Grady (Central
Bank of Ireland) |
| Discussant: Jean-Yves Gnabo |
| Do Emerging Economies with Greater Intellectual Capital
Benefit more from External Financial Flows? The Case of IMF and World Bank
Lending, Ilayda
Nemlioglu (Cardiff University, UK) and
Sushanta Mallick (Queen Mary University of London, UK) |
| Discussant: Raoul Minetti |
| Cross-border Investments and Uncertainty: Firm-level
Evidence, Rafael
Cezar (Bank of France), Timothee Gigout (University of Lille I, France), and Fabien Tripier
(Universite Paris-Saclay and CEPII, France) |
| Discussant: Matthias Schoen |
| Contagion during the Euro Debt Crisis: Evidence from the
Sovereign Bond and CDS Markets, Georgios Bampinas (University of Macedonia, Greece),
Theodore Panagiotidis (University of Macedonia, Greece) and Panagiotis Politsidis
(University of Sydney, Australia) |
| Discussant: Joey Soudant |
|
| Parallel
Session 7B: Monetary Theory and Policy IV |
| 16:00-18:00
(Lecture Room: Α2-3) |
| Chair:
Daniel Kienzler |
|
| ECB Monetary Policy and Cross-Market Financial Spillovers:
Evidence from Large TVP-VAR, Sophie Bereau (University of Namur, Belgium and Catholic
University of Leuven, Belgium), Jean-Yves Gnabo (University of Namur,
Belgium) and Joey Soudant (University of Namur, Belgium) |
| Discussant: Panagiotis Politsidis |
| How does Monetary Policy Affect Income and Wealth
Inequality? Evidence from Quantitative Easing in the Euro Area, Michele Lenza (European Central Bank, Germany) and Jirka Slacalek
(European Central Bank, Germany) |
| Discussant: Michalis Rousakis |
| Central Bank Communication and Inflation, Nikoaos Kokonas
(University of Bath, UK) and Michalis
Rousakis (University of Oxford, UK) |
| Discussant: Jose David Garcia Revelo |
| Interest-rate Pegs and the Reversal Puzzle: On the Role of
Anticipation, Rafael
Gerke (German Bundesbank), Sebastian Giesen (German Bundesbank), Daniel Kienzler (German
Bundesbank) and Joern Tenhofen (Swiss National Bank) |
| Discussant: Davide Furceri |
|
| Parallel
Session 7C: European Union and Eurozone III |
| 16:00-18:00
(Lecture Room: Α3-2) |
| Chair:
Nikolaos Giannellis |
|
| Economic Convergence and Exchange Rate Misalignments in
the European Union, Judit Kreko (Centre for
Economic and Regional Studies of Hungarian Academy of Sciences and Central
European University, Hungary) and Gabor Oblath (Centre for Economic and
Regional Studies of Hungarian Academy of Sciences, Hungary) |
| Discussant: Dimitrios Anastasiou |
| The Dynamic Effects of Macroprudential Effects in the Euro
Area: Evidence from a Narrative Panel VAR, Gerhard Ruenstler
(European Central Bank, Germany) and Katarzyna Budnik (European Central Bank,
Germany) |
| Discussant: Luca Onorante |
| Demand Side or Supply Side Stabilization Policies in a
Small Euro Area Economy: A Case Study for Slovenia, Klaus Weyerstrass
(Institute for Advanced Studies, Austria), Reinhard
Neck (Alpen-Adria University Klagenfurt,
Austria), Dmitri Blueschke (Alpen-Adria-University Klagenfurt, Austria),
Boris Majcen (Institute for Economic Research, Slovenia), Andrej Srakar
(Institute for Economic Research, Slovenia) and Miroslav Verbic (University
of Ljubljana, Slovenia) |
| Discussant: D. McNelis |
| Financial Stress and Asymmetric Shocks Transmission within
the Eurozone. How Fragile is the Common Monetary Policy?, Georgios N. Apostolakis (University of Crete, Greece), Nikolaos Giannellis
(University of Crete, Greece) and Athanasios P. Papadopoulos (University of
Crete, Greece) |
| Discussant: Judit Kreko |
|
| Parallel
Session 7D: Economic Growth II |
| 16:00-18:00
(Lecture Room: Α3-3) |
| Chair:
Silvia Albrizio |
|
| International Knowledge Spillovers: The Role of Trade, FDI
and Inventor Mobility, Konstantinos Dellis
(University of Piraeus, Greece), Dimitrios Karamanis (University of Piraeus,
Greece), Sotiris Karkalakos (University of Piraeus, Greece) and Claire
Economidou (University of Piraeus, Greece) |
| Discussant: Silvia Albrizio |
| Rising top incomes and the tide – what can we really learn
from a cointegration analysis?, Toni Kristian Juuti
(University of Jyvaskyla, Finland) |
| Discussant: Bianca Barbaro |
| Should We Worry about Creative Distruction? The
Compensating Effects of Sectoral Reallocation in a Model of Schumpeterian
Firm Dynamics, Bianca Barbaro
(University of Milan Bicocca, Italy) and Patrizio Tirelli (University of
Milan Bicocca, Italy) |
| Discussant: Toni Kristian Juuti |
| Unconventional Monetary Policy and Productivity: Evidence
on the Risk-Seeking Channel from US Corporate Bond Markets, Silvia Albrizio (Bank of Spain), Marina Conesa (Inter-American
Development Bank, USA), Dennis Dlugosch (Organisation for Economic
Co-operation and Development, France) and Christina Timiliotis (Organisation
for Economic Co-operation and Development, France) |
| Discussant: Konstantinos Dellis |
|
| Parallel
Session 7E: Labour Market II |
| 16:00-18:00
(Lecture Room: Α2-1) |
| Chair:
Frederic Daniel Verschueren |
|
| The Impact of Financial Fragility on Employment, Michael Chletsos
(University of Piraeus, Greece) and Andreas
Sintos (University of Ioannina, Greece) |
| Discussant: Frederic Daniel Verschueren |
| Career and Non-Career Jobs: Dangling the Carrot, Demetris Koursaros (Cyprus University of Technology) and Andri Chasamboulli
(University of Cyprus) |
| Discussant: Jan Babecký |
| Non-base Wage Components as a Source of Wage Adaptability
to Shocks: Evidence from European Firms, 2010–2013, Jan Babecký (Czech National Bank), Clémence Berson (Bank of France
and University Paris 1, France), Ludmila Fadejeva (Bank of Latvia), Ana Lamo
(European Central Bank, Germany), Petra Marotzke (German Bundesbank),
Fernando Martins (Bank of Portugal and Lusíada University of Lisobon and REM,
Portugal) and Pawel Strzelecki (National Bank of Poland and Warsaw School of
Economics, Poland) |
| Discussant: Demetris Koursaros |
| Regional Hiring Subsidy Policies for Target Groups, Worker
Flows and Employment, Frederic Daniel Verschueren (IWEPS, Belgium) |
| Discussant: Andreas Sintos |
|
| 18:00: SHORT EXCURSION AND FAREWELL DINNER AT A TRADITIONAL
VILLAGE |
|
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|
|
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