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Friday 23rd May 2003
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09:00-11:00
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Parallel Session 1A : Macroeconomic Policy I (Optimal Policy Rules)
Lecture Room : --
Chair: Rudolf Zwiener
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Nickolas Apergis (University of Macedonia),
George Chortareas (Bank of England),
Alexandros Panethymitakis (University of Athens)
Implications for intertemporal decisions of a
zero-inflation targeting monetary policy
Discussant: Rudolf Zwiener
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Haiping Zhang (Bonn Graduate School of Economics)
Collateral Constraints and Optimal Policy Rules
Discussant: Athanasios N. Yannacopoulos
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Athanasios N. Yannacopoulos (University of the Aegean)
Forward-Backward Stochastic Differential Equations
in Economics: Applications in Economic Policy
Discussant: Haiping Zhang
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Tilman Bruck (DIW Berlin) and Rudolf Zwiener (DIW Berlin)
Fiscal Policy Rules for Stabilisation and Growth:
A Simulation Analysis of Deficit and Expenditure Targets in a
Monetary Union
Discussant: Nicholas Apergis
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09:00-11:00
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Parallel Session 1B : Macroeconomic Policy II (Monetary Policy)
Lecture Room : --
Chair: Giuseppe Diana
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Alexandros Kontonikas (Brunel University) and Alberto Montagnoli (Brunel University)
Optimal Monetary Policy with wealth Effects
Discussant: Giuseppe Diana
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Dan Nyberg (Stockholm University)
Robust Monetary Policy in an Open Economy
Discussant: TBA
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Giuseppe Diana (Universite Louis Pasteur) and
Pierre-Guillaume Meon (Universite Louis Pasteur)
Monetary policy in the presence of asymmetric wage indexation
Discussant: Alexandros Kontonikas
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09:00-11:00
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Parallel Session 1C : Applied Macroeconomics - I
Lecture Room : --
Chair: Ulrich Fritsche
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Rebeca I. Munoz Torres (University of Leicester)
Some evidence of the effectiveness of Inflation
Targeting for Emerging Economies: Case of Mexico
Discussant: Ulrich Fritsche
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Bernhard.Herz (Bayreuth University) and
Werner Roeger (European Commission)
Traditional versus New-Keynesian
Phillips Curves: Evidence from Output Effects
Discussant: Giannis Karagiannis
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Giannis Karagiannis (University of Macedonia)
and Vangelis Tzouvelekas (University of Crete)
Real Money Balances and TFP changes in G7
Countries: A Non Neutral Stochastic Frontier Approach
Discussant: Bernhard Herz
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Ulrich Fritsche (DIW Berlin) and Camille Logeay (DIW Berlin)
Structural Unemployment and the Output Gap in Germany:
Evidence from an SVAR Analysis within a Hysteresis Framework
Discussant: Rebeca I. Munoz Torres
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11:00-11:30
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Coffee Break
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11:30-13:00
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Invited Lecture - Plenary Session
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13:00-14:30
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Lunch
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14:30-16:00
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Invited Lecture - Plenary Session
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16:00-16:30
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Coffee Break
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16:30-18:30
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Parallel Session 2A : Applied Macroeconomics - II
Lecture Room : --
Chair: Stilianos Fountas
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Dimitrios Papaikonomou (University of Leicester)
and Jacinta Pires (University of Leicester)
Are Expectational Errors Stationary?
An Econometric Analysis of US Output Data in Real Time
Discussant: Stilianos Fountas
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Guglielmo Maria Caporale (South Bank University),
Ekaterini Panopoulou (University of Piraeus) and
Nikitas Pittis (University of Piraeus)
The Feldstein-Horioka Puzzle Revisited: A Monte Carlo Study
Discussant: Kostas Drakos
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Kostas Drakos (University of Patras)
Banking Competition and Macroeconomic Performance
Discussant: Ekaterini Panopoulou
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Ahmad Zubaidi Baharumshah, (Universiti Putra),
Evan Lau (Universiti Putra) and
Stilianos Fountas (University of Macedonia)
Current Account Deficit Sustainability: A Panel Approach
Discussant: Jacinta Pires
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16:30-18:30
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Parallel Session 2B : Macroeconomics of the European Union
Lecture Room : --
Chair: George D. Demopoulos
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Glauco De Vita (Brookes Business School ) and
Andrew Abbott (University of Bath)
The impact of exchange rate volatility on UK exports to EU member countries
Discussant: George D. Demopoulos
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Christos Papazoglou (Bank of Greece and Panteion University)
and Eric J. Pentecost (Loughborough University)
The potential trade effects of the EU accession
Discussant: Maria Demertzis
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Maria Demertzis (De Nederlandsche Bank) and
Andrew Hughes Hallet (Vanderbilt University and CEPR)
Central Bank Transparency in Theory and Practice
Discussant: Christos Papazoglou
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George D. Demopoulos (Athens University of Economics and Business)
and Nicholas A. Yannacopoulos (University of Piraeus)
Stability of Monetary Unions and the Case of Enlargement
Discussant: Glauco De Vita
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16:30-18:30
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Parallel Session 2C : Labour Economics
Lecture Room : --
Chair: Enrico Saltari
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Francesco De Palma (Universite Louis Pasteur) and
Thomas Seegmuller (Universite Louis Pasteur)
Unions, Wage Differential and Indeterminacy
Discussant: Enrico Saltari
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Enrico Saltari (Universita di Roma "La Sapienza") and
R. Tilli (University of Urbino)
The interaction between judicial activity and
employment protection legislation: an equilibrium analysis
Discussant: Francesco De Palma
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20:00
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Dinner at a Local Tavern
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Saturday 24th May 2003
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09:00-11:00
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Parallel Session 3A : Monetary Economics
Lecture Room : --
Chair: Moise Sidiropoulos
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Bo Larsson (University of Stockholm)
Endogenous Reserves in Credit Market Equilibrium
Discussant: Giuseppe Diana
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Pavlos Petroulas (University of Stockholm)
Capital Controls on Short-Term Inflows and Unstable Financial Markets
Discussant: George Kouretas
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Giuseppe Diana (Universite Louis Pasteur) and
Moise Sidiropoulos (Dimokrition University and Universite Louis Pasteur)
Central Bank Independence, Speed of Disinflation and the Sacrifice Ratio
Discussant: Bo Larsson
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09:00-11:00
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Parallel Session 3B : Exchange Rate Economics
Lecture Room : --
Chair: David Cobham
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George Bagdatoglou (Brunel University)
The euro/dollar exchange rate:Herding Behaviour and
'Variable Selection Bias'
Discussant: David Cobham
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Ansgar Belke (University of Hohenheim) and
Ralph Setzer (University of Hohenheim)
The Costs of Exchange Rate Volatility for Labor Markets:
Some Empirical Evidence from the CEE Economies
Discussant: Christos Papazoglou
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David Cobham (University of Saint Andrews)
The exchange rate as a source of disturbances: the UK 1979-2000
Discussant: George Bagdatoglou
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09:00-11:00
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Parallel Session 3C : Financial Econometrics
Lecture Room : --
Chair: Christian Johnson Medina
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George Dikos, (Massachusetts Institute of Technology)
Decisionmetrics: A Microeconometric Analysis of Tanker Investment Decisions
Discussant: Christian Johnson Medina
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Nektarios Aslanidis (University of Crete)
Asset prices and economic activity:
Evidence from threshold vector error correction models
Discussant: Aggelos Kanas
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Francisco A. Gallego (Universidad Adolfo Ibanez )
and Christian Johnson Medina (Massachusetts Institute of Technology)
Building Confidence Intervals for the Band-Pass and
Hodrick Prescott Filters: An Application using Bootstrapping
Discussant: George Dikos
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11:00-11:30
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Coffee Break
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11:30-13:00
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Invited Lecture - Plenary Session
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13:00-14:30
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Lunch
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14:30-16:00
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Invited Lecture - Plenary Session
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16:00-16:30
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Coffee Break
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16:30-18:30
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Parallel Session 4A : Financial and Banking Crises
Lecture Room : --
Chair: Roman Kraeussl
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Kurt Dew (Isik University)
Are IMF Sponsored Basle Accord Banking Regulations Helpful
in Preventing Banking Crises in Turkey?
Discussant: Roman Kraeussl
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Jurgen von Hagen (Center for European Integration Studies)
and Tai-Kuang Ho (Center for European Integration Studies)
Money Market Pressure and the Determinants of Banking Crises
Discussant: Kostas Mouratidis
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Kostas Mouratidis (National Institute of Economic and
Social Research) and Nicola Spagnolo (Brunel University)
Evaluating Currency Crises: The case of the European Monetary System
Discussant: Tai-Kuang Ho
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Roman Kraeussl (Marie Curie Post-Doc Research Fellow at the
University of Crete, Rethymno and Research Fellow at the Center
for Financial Studies, Frankfurt/Main)
Sovereign Risk, Credit Ratings and the Recent Financial Crises in
Emerging Markets
Discussant: Kurt Dew
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16:30-18:30
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Parallel Session 4B : Growth and Development
Lecture Room : --
Chair: Svetlana Andrianova
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Karsten Staehr (University of Tartu)
Reforms and Economic Growth in Transition Economies: Complementarity,
Sequencing and Speed
Discussant: Svetlana Andrianova
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K. Papathoma, (City University) D. Asteriou (City University)
and G. M. Agiomirgianakis (City University and Hellenic Open University)
Financial Development, Banking Structure, Stock Markets and Growth:
Panel Data Evidence from 32 High-Income Countries
Discussant: Pantelis Kalaitzidakis
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Svetlana Andrianova (Loughborough University) Panicos Demetriades
(University of Leicester), and Anja Shortland (Loughborough University)
State Banks, Institutions, and Financial Development
Discussant: Karsten Staehr
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16:30-18:30
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Parallel Session 4C : Financial Economics
Lecture Room : --
Chair: Dimitris Georgoutsos
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Enrico Saltari (Universita di Roma "La Sapienza") and
Giuseppe Travaglini (Universita di Urbino)
The role of future constraints in determining current investment decisions
Discussant: Stelios Bekiros
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Manolis G. Kavussanos (Athens University of Economics and Business)
Roy Bathelor & Ilias D. Vissvikis (Athens University of Economics
and Business)
Over-The-Counter Forward Contracts And Spot Price Volatility
Discussant: Geir H. Bjonnes
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Geir H. Bjonnes (Stockholm Institute for Financial Research),
Dagfinn Rime (Norges Bank) and Haakon O.Aa. Solheim
(Norwegian School of Management)
'Large' vs. 'Small' Players: A Closer Look at the Dynamics
of Speculative Attacks
Discussant: Manolis G. Kavussanos
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Stelios Bekiros (Athens University of Economics and Business) &
Dimitris Georgoutsos (Athens University of Economics and Business)
Estimation of Value at Risk by extreme value and conventional methods:
A Comparative evaluation of their predictive performance
Discussant: Enrico Saltari
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18:45
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Short Excursion and Dinner at a Traditional Village
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