Pan-European Conference Jointly Organised by the IEFS-UK & University of Macedonia Economic & Social Sciences Thessaloniki, Greece 17-20 May 2001.

For some photos of the conference click here Presented Papers

Author(s) and Address
(Speakers In Bold)

Title of the Paper

M. Abreu and V. Mendes Instituto Superior de Economia e Gestao - CISEP, R. do Quelhas 6 Lisboa, PORTUGAL mabreu@iseg.utl.pt victormendes@cmvm.pt	COMMERCIAL BANK INTEREST MARGINS AND PROFITABILITY: EVIDENCE FOR SOME EU COUNTRIES Download
M. R. Alfano and M. Salzano Department of Scienze Economiche, University of Salerno, I-84084 Fisciano (SA) – Italy salzamas@netlab.it rosaria@inopera.it	TAX COMPETITION IN GLOBALISED SCENARIO: AN EVOLUTIONARY GAME APPROACH Download
A. Alyousha, C. Tsoukis , N Naqvi Department Of Economics Hull University HU6 7RX UK c.tsoukis@economics.hull.ac.uk	PRICE RIGIDITY, EXCHANGE RATES AND BUSINESS CYCLES IN SMALL OPEN ECONOMIES
G. Amin and H. Kat The University of Reading ISMA, Whiteknights, Reading RG6 6BA, UK h.kat@ismacentre.rdg.ac.uk	HEDGE FUND PERFORMANCE 1990-2000: DO THE “MONEY MACHINES” REALLY ADD VALUE? Download
A. Anastassopoulos, L. Maroudas and Y. Rizopoulos Business School, Aegean University, M. Livanou 54, Chios 82100, Greece aanastas@tee.gr lmarouda@aegean.gr yorgos.rizopoulos@u-picardie.fr	THE EVOLUTION OF FOREIGN DIRECT INVESTMENTS IN THE BULGARIAN MANUFACTURING SECTOR: AN EMPIRICAL INVESTIGATION
M. G. Arghyrou and K. Luintel Department of Economics and Finance, Brunel University, Uxbridge, London, UB8 3PH, UK Michael.Arghyrou@brunel.ac.uk Kul.Luintel@brunel.ac.uk	FISCAL POLICY SUSTAINABILITY IN THE EMU: HOW NECESSARY AND USEFUL HAVE THE MAASTRICHT RULES BEEN?
D. Asteriou, L. Pelloni and C. Siriopoulos The University of Reading Department of Economics Whiteknights, P.O. Box 218, RG6 6AA, Reading UK D.Asteriou@reading.ac.uk	STOCK MARKET DISPERSION AND UNEMPLOYMENT IN GREECE
F. Bellone and Marie-Antoinette Maupertuis University of Corsica and Latapses-IDEFI (CNRS), 250 rue Albert Einstein, 06560 Valbonne, France bellone@idefi.cnrs.fr maupertu@univ-corse.fr	A U-SHAPED EUROPE? THE COMPETING DYNAMICS OF REGIONAL WAGES AND INNOVATION COSTS
Tapan Biswas Department of Economics, University of Hull, Hull, HU6 7RX, U.K t.k.biswas@econ.hull.ac.uk	INTERNATIONAL MIGRATION IN A GROWING WORLD ECONOMY: A SIMPLE ANALYTICALFRAMEWORK
S. Bougheas and Y. Georgellis School of Economics University of Nottingham, University Park, Nottingham, NG7 2RD, UK spiros.bougheas@nottingham.ac.uk yannis.georgellis@brunel.ac.uk	APPRENTICESHIP TRAINING EARNINGS PROFILES AND LABOUR TURNOVER: THEORY AND GERMAN EVIDENCE
I. R. Bugayan, A.A Kremnev, M. A. Sumbatyan Rostov State University of Economy B. Sadovaya str. 69, Rostov-on-Don, Russia good@appleclub.donpac.ru	EMPLOYMENT AND SELF-EMPLOYMENT: RATIO AND MEASURE Download
J. Cassing and T. Kuhn, Department of Economics, University of Pittsburgh, Pittsburgh PA 15260, USA jcassing+@pitt.edu , T.Kuhn@Wirtscharft.TU-Chemnitz.de	THE POLITICAL ECONOMY OF STRATEGIC ENVIRONMENTAL POLICY. WHEN WASTE PRODUCTS ARE TRADEABLE
C. J. Choi, X. Dassiou and D. Maldoom The Judge Institute of Management Studies, The University of Cambridge, Trumpington Street, Cambridge CB2 1AG, UK cjc58@hermes.cam.ac.uk X.Dassiou@city.ac.uk	ELECTRONIC COMMERCE AND LINKED EXCHANGE; PRICE DISCRIMINATION THROUGH TRANSACTION BUNDLING
K. Choi Department of Economics Iowa State University 260 Heady Hall, Ames, Iowa, 50011, USA kchoi@iastate.edu	* Keynote Speaker May 19th * IMPLICATIONS OF MANY INDUSTRIES ON THE HECKSCHER-OHLIN MODEL
J. Coakley and A.M. Fuertes, Department of Economics Guildhall University, 84 Moorgate EC2M 6SQ London, UK jcoakley@econ.bbk.ac.uk	A NONLINEAR ANALYSIS OF EXCESS FOREIGN EXCHANGE RETURNS
E. Cohen-Cole and B. Cosmaciuk Princeton University 1 West Dr. #1004, Princeton NJ 08540, USA ecohen@princeton.edu	OPTIMAL MONETARY POLICY COMMITMENT UNDER STICKY INFLATIONARY EXPECTATIONS: FIXED AND RANDOM INFLATION RATE TARGETS Download
B. Dress and B. Eckwert Department of Economics, University of Chemnitz, D-09107 Chemnitz, Germany B.Eckwert@wirtschaft.tu-chemnitz.de	WELFARE EFFECTS OF TRANSPARENCY IN FOREIGN EXCHANGE MARKETS: THE ROLE OF HEDGING OPPORTUNITIES Download
H. Florkemeier Department of Statistics and Econometrics, Albert-Ludwigs-University Freiburg, Germany floerkem@vwl.uni-freiburg.de	FUNCTIONAL REGIONS AND THE MEASUREMENT OF ECONOMIC INTEGRATION Download
E. Georgakopoulou, Pagkritia Synetairistiki Trapeza, Georgiou Papandreou 28 TK 71306, Crete, Greece. esfakia@otenet.gr	INVESTIGATION OF THE LONG RUN PPP BETWEEN THE UNITED STATES AND EUROPE.
D. A. Georgoutsos and G. Kouretas Department of International and European Economic Studies, Athens University of Economics and Business, GR-10434, Athens, Greece D.Georgoutsos@aueb.gr kouretas@econ.soc.uoc.gr	COMMON STOCHASTIC TRENDS IN INTERNATIONAL STOCK MARKETS: TESTING IN AN INTEGRATED FRAMEWORK
S. Ghatak, G. Manolas, C. Rontos and I. Vavouras Kingston University, Kingston upon Thames, KT1 1LQ UK S.Ghatak@Kingston.ac.uk	THE PROFILE OF THE SUCCESSFUL POLISH SMALL ENTERPRISE IN THE EUROPEAN CONTEXT
A. Kolyvopoulos and E. Livanis Department of Accounting Finance, University of Macedonia 156 Egnatias str., 54006, Thessaloniki, Greece fin9964@uom.gr	THE FINANCIAL CRISIS IN THE ASIA MARKET IN 1997: THE CASE OF THE GREEK AND AMERICAN CAPITAL MARKET Download
J. H. Revuelta and J. S. Fidalgo Economico Department, Facultad de Ciencias Economicas y Emp. (Universidad de Valladolid), Ardes: Avda. Valle Esgueva, 6. 47011 Valladolid, Spain jherrera@eco.uva.es pelos@eco.uva.es	THE EXTERNAL CONSTRAINT TO THE ECONOMIC GROWTH: NEW EVIDENCE WITH NEW DATA Download
R. C. Hine, J. L. Torres and Professor P. W. Wright Department of Economics, University of Malaga, El Ejido s/n, 29013 Malaga, SPAIN jtorres@uma.es	DOES TRADE LIBERALISATION DAMAGE FIRMS IN LARGE COUNTRIES? COST AND SIZE ASYMMETRIES IN INTRA-INDUSTRY TRADE Download
A. Jumah and R. M. Kunst, Institute for Advanced Studies, Stumpergasse 56, A-1060, Vienna, Austria kunst@his.ac.at	THE EFFECTS OF DOLLAR/STERLING EXCHANGE RATE VOLATILITY ON FUTURE MARKETS FOR COFFEE AND COCOA
S. Karagianni and M. Pempetzoglou Department of Economic Sciences, University of Macedonia, 156 Egnatias str., 54006, Thessaloniki, Greece stelkar@uom.gr mariap@uom.gr	CLIMATE CHANGE POLICY IN THE EU MEMBER-STATES: A COMPARATIVE ANALYSIS Download
C. Karfakis, D. Moschos Department of Economics, University of Macedonia 156 Egnatias street, Thessaloniki, 540 06, Greece ckarf@vom.gr	ON THE PREDICTABILITY OF CURRENCY CRISES: EVIDENCE FROM TRANSITION ECONOMIES
M. O. Kayalica and S. Lahiri Department of Economics, University of Essex, Colchester, CO4 3SQ, U.K. lahiri@essex.ac.uk mokaya@essex.ac.uk	STRATEGIC ENVIRONMENTAL POLICIES IN THE PRESENCE OF FOREIGN DIRECT INVESTMENT
M. O. Kayalica and O. Kayalica Department of Economics, S. University, Adapazari, Turkey kayalica@sakarya.edu.tr or kayalica@yahoo.com okayal@hotmail.com	TRANSBOUNDARY POLLUTION FROM CONSUMPTION IN A RECIPROCAL DUMPING MODEL Download

J. Kleinert Kiel Institute of World Economics, Duesternbrooker Weg 120, 24105 Kiel Germany j.kleinert@ifw.uni-kiel.de	GROWING TRADE IN INTERMEDIATE GOODS: OUTSOURCING, GLOBAL-SOURCING OR INCREASING IMPORTANCE OF MNE-NETWORKS? Download
J. Lazaridis and J. Papanastasiou Department of Accounting and Finance University of Macedonia 156 Egnatia Street, P.O. Box 1591 540 06 Thessaloniki, Greece papan@uom.gr lazarid@uom.gr	GREEK FOREIGN DIRECT INVESTMENTS IN THE BALCANS
I. Leventakis Dept.of Economics Athens University of Economics and Business. levent@aueb.gr	* Keynote Speaker May 17th * INTERNATIONAL EXPERIENCES WITH DIFFERENT EXCHANGE RATE REGIMES AND THE RECENT PROPOSALS FOR REFORM.
T. Lianos Athens University of Economics and Business Department of Economics Patission 76, Athina 104 34, Greece tplianos@kronos.aueb.gr	ILLEGAL MIGRANTS TO GREECE AND THEIR CHOICE OF DESTINATION
M. Makris Department of Economics, Stretham Court, Rennes Drive, University of Exeter, Exeter EX4 4PU, UK M.Makris@exeter.ac.uk	INTERNATIONAL TAX COMPETITION: THERE IS NO NEED FOR COOPERATION IN INFORMATION SHARING Download
E. C. Mamatzakis Dept: Investment, Risk Management and Insurance, City University Business School, London EC1V OHB, UK e.mamatzakis@city.ac.uk	“DOES UNCERTAINTY AFFECT INVESTMENT? AN EMPIRICAL EXAMINATION USING SURVEY DATA”
P. McCalman Department of Economics, University of California, Santa Cruz 95064 CA, USA mccalman@cats.ucsc.edu	WHO ENJOYS “TRIPs” ABROAD? AN EMPIRICAL ANALYSIS OF INTELLECTUAL PROPERTY RIGHTS IN THE URUGUAY ROUND
P. Mossay Department of Economics, University of Louvain, Place Montesquieur 3, B-1348 Louvain-la-Neuve, BELGIUM mossay@ires.ucl.ac.be	ECONOMIC GEOGRAPHY AND RATIONAL EXPECTATIONS Download
A. Moudatsou Heraklion Chamber of Commerce and Industry, Statistics Department Markou Avgeri 3, 71202 Heraklion- Crete, Greece amoudast@ebeh.gr	“FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH: EVIDENCE FROM 14 EUROPEAN UNION COUNTRIES” Download
Y. Oh DELTA, Centre for Economic Performance, 48 Bld. Jourdan, 75014 Paris, France oh@delta.ens.fr	EUROPEAN SECTOR RETURNS AND CAPITAL MARKET INTEGRATION Download
S. Papadamou and S. Tsopoglou University of Macedonia Department of Applied Informatics Egnatias 156, Thessaloniki 54 621, Greece stefpap@uom.gr	EXPLORING THE BENEFITS OF INTERNATIONAL DIVERSIFICATION AND CURRENCY HEDGING FOR INTERNATIONAL FUND PORTFOLIOS Download
M. Papanastasiou and F. Philippaios Athens University of Economics and Business Department of International and European Economic Studies Patission 76, Athina 104 34, Greece Marinap@aueb.gr	THE GEOGRAPHY OF US OUTWARD FOREIGN DIRECT INVESTMENT WITHIN THE OECD: A CROSS-REGIONAL ANALYSIS
H. Papapanagos and P. Sanfey European Bank for Reconstruction and Development, One Exchange Square, London, EC2A 2JN, UK sanfeyp@ebrd.com	EMIGRATION AND THE OPTIMAL SPEED OF TRANSITION
K. Pilbeam Department Of Economics City University, London EC1V OHB, UK K.S.Pilbeam@city.ac.uk,Keith.Pilbeam@btinternet.com	THE RELATIVE EFFECTIVENESS OF STERILISED AND NON STERILISED FOREIGN EXCHANGE MARKET INTERVENTIONS
A. S. Piperakis School of Economics, University of Nottingham, University Park, Nottingham, NG7 2RD, UK lexap@nottingham.ac.uk	ECONOMIC INTEGRATION, TRADE LIBERALISATION AND UNION BARGAINING Download
H. Piranfar , A. Shamsavari and R. Matthews Schiller International University, 51-55 Waterloo Road, London SE1 8TX, UK Hosein5@aol.com A.Shamsavari@KING.ac.uk	THE INCREASING COMPLEXITY OF FDI IN RELATION TO TRADE AND SHORT-TERM INVESTMENT: FACTOR-BASED EMERGING NETWORKS IN EUROPE
M. Ross University of Hamburg, Institute for the Trade and Economic Integration, Von-Melle-Park 5, D-20146 Hamburg, Germany Ross@hermes1.econ.Uni-hamburg.de	FISCAL POLICY, TAXES AND REGIONAL AGGLOMERATION Download
N. Sarantis and S. Piard, Department of Economics, London Guildhall University, 31 Jewry Street, London EC3N 2EY, UK saran@lgu.ac.uk	CREDIBILITY, MACROECONOMIC FUNDAMENTALS, AND MARKOV REGIME SWITCHES IN THE EUROPEAN MONETARY SYSTEM Download
U. Springer Institute for Economy and the Environment (IWOe-HSG), Tigerbergstrasse 2, CH-9000 St. Gallen, Switzerland urs.springer@unisg.ch	THE MARKET FOR GHG PERMITS UNDER THE KYOTO PROTOCOL: A SURVEY OF MODEL STUDIES
C. Stirbock Centre for European Economic Research (ZEW), PO Box 10 34 43, D-68034, Mannheim, Germany stirboeck@zew.de	AGGLOMERATION TENDENCIES IN EU REGIONS: WHERE DOES CAPITAL GO? Download
L Tsoulfidis Assistant Professor of Economics Department of Economics University of Macedonia 156 Egnatia Street, P.O. Box 1591 540 06 Thessaloniki, Greece lefteris@uom.gr	LIMITS OF THE NEW ECONOMY
F. Voulgaris, D. Asteriou , and G. Agiomirgianakis, Dept. of Management and Economics, TEI of Crete, Estavromenos, Heraklion, Crete, Greece bellevue@otenet.gr	FIRM SIZE AND DETERMINANTS OF CAPITAL STRUCTURE IN THE GREEK MANUFACTURING SECTOR
A. Zervoyianni and G. Argyros Department Of Economics University of Patras, Rio 26500, Patra, Greece athina@upatras.gr, gargiro@otenet.gr	EMU AND ECB: SOME PROBLEMS AND CHALLENGES

Independent Sessions

Session 1: Chair Wolfgang Polasek, "Financial Time Series and Portfolio Management"

G Schoier (University of Triest) gabriella.schoier@econ.univ.trieste.it	ON GARCH MODELS AND MCMC METHODS FOR FINANCIAL TIME SERIES Download
M. Pojarliev and W. Polasek (Basel) Momtchil.Pojarliev@unibas.ch, Wolfgang.Polasek@unibas.ch	APPLING MULTIVARIATE TIME SERIES FORECASTS FOR ACTIVE PORTFOLIO MANAGEMENT Download
I. Huber and Z. Rachev,C.Menn (Karlsruhe) rachev@lsoe-14.wiwi.uni-karlsruhe.de	OPTIMAL PORTFOLIO THEORY FOR STABLE DISTRIBUTED RETURNS

Session 2: Chair Nikos Apergis, “Money and Capital Markets in Greece: The EMU Impact”

Angelos Antzoulatos (University of Piraeus) and Lambros Vallianatos (National Bank of Greece) antzoul@unipi.gr	THE DYNAMICS OF INTEREST RATE CONVERGENCE IN THE EMU Download
Athanasios Noulas (University of Macedonia Greece) anoulas@uom.gr	MUTUAL FUNDS PERFORMANCE: RISK AND RETURN
Nicholas Apergis (University of Ioannina) and Anthony Rezitis (University of Ioannina). Greece napergis@cc.uoi.gr	HOUSING PRICES AND MACROECONOMIC FACTORS IN GREECE: PROSPECTS WITHIN THE EMU. Download

Session 3 Chair: Costas Siriopoulos, "The Econometrics Of Financial Markets",

H. F. Harissis University of Piraeus Greece hharissis@edekt-ote.gr,hharissis@ath.forthnet.gr	STOCK RETURNS AND INTEREST RATES: THE CASE OF GREECE
Karagianni,S., C. Siriopoulos, and R. Tsotsos Dept. of Economics, University of Macedonia, Thessaloniki, Greece siriopoulos@edekt-ote.gr	THE IMPACT OF NON LINEARITIES, IN TRADING AND REGULATORY CHANGES IN THE EFFICIENCY OF AN EMERGING CAPITAL MARKET
D.Chionis Dept. of Economics, University of Thessaly, Greece, dionysis_chionis@yahoo.com dichionis@uth.gr	THE HYSTERESIS EFFECTS ON THE REAL EXCHANGE RATE

Session 4 Chair: Gianluigi Pelloni, “Macroeconomic Effects of Sectoral and Regional Imbalances”

V. Caponi, University of Western Ontario-Canada and ISTAT-Italy, vincenzo@caponi.net	EQUILIBRIUM UNEMPLOYMENT AND MOBILITY Download
G. Gallipoli, University College London, UK G. Pelloni, University of Pisa-Italy, GPelloni@aol.com, gpelloni@sp.unipi.it g.gallipoli@ucl.ac.uk	MACROECONOMIC EFFECTS OF EMPLOYMENT REALLOCATION: A REVIEW AND AN APPRAISAL FROM AN ECONOMETRIC PERSPECTIVE
T. Panagiotidis, University of Sheffield UK, G. Pelloni, University of Pisa-Italy, and W. Polasek, University of Basel-Switzerland,” ecq98TP@shef.ac.uk	MACROECONOMIC EFFECTS OF REALLOCATION SHOCKS: A COMPARATIVE IMPULSE RESPONSE FUNCTION ANALYSIS FOR THE EMASE COUNTRIESDownload

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