Convergence concerns the poor catching up with the rich|if not instan- taneously, then at least having a tendency to do so. When poor and rich here refer to entire economies, then whether convergence occurs is traditionally viewed as just a side consequence of a more central ques- tion, namely...

In this paper we compare overall as well as downside risk measures with respect to the criteria of first and second order stochastic dominance. While the downside risk measures, with the exception of tail conditional expectation, are consistent with first order stochastic dominance, overall risk...

We study a very general setting, and propose a procedure for estimating the critical values of the extended Kolmogorov-Smirnov tests of First and Second Order Stochastic Dominance due to McFadden (1989) in the general k-prospect case. We allow for the observations to be generally serially...

This study examines the role of the housing market in the Greek economy. We review the literature and assess the interdependence between the housing price index and its macroeconomic determinants within a VECM framework. An equilibrium relationship exists and in the long run the retail sector...

This study examines the role of the housing market in the Greek economy. We review the literature and assess the interdependence between the housing price index and its macroeconomic determinants within a VECM framework. An equilibrium relationship exists and in the long run the retail sector...

The goal of the present paper is to investigate not only the dynamics of the Greek public debt, but also what are the appropriate measures required for achieving fiscal consolidation. The empirical estimation is carried out using a macroeconomic dataset spanning the period 1980-2008 and both the...