The 2006 sudden and immense downturn in U.S. House Prices sparked the 2007 global financial crisis and revived the interest about forecasting such imminent threats for economic stability. In this paper we propose a novel hybrid forecasting methodology that combines the Ensemble Empirical Mode...

We empirically test the effects of unanticipated fiscal policy shocks on the growth rate and the cyclical component of real private output and reveal different types of asymmetries in fiscal policy implementation. The data used are quarterly U.S. observations over the period 1967:1 to 2011:4. In...

Over the last few decades Robert Mundell’s theory (1963) of Optimum Currency Areas (OCA) has attracted significant attention between researchers and policy makers especially after the formation of the European Monetary Union and the debate over whether the eurozone countries actually consist...

This paper examines the co-movement patterns of European business cycles during the period 1986-2011, having as a focal point the year of the euro coin introduction, in 1999. We work within a Graph Theory context and apply a rolling window to study the evolution of the network that corresponds...

Graph Theory and network analysis have received great attention lately in the process of analyzing complex economic systems. Here we propose the use of the Minimum Dominating Set concept in order to identify a representing set of nodes which can describe the collective behavior of an entire...

Purpose - This study presents an empirical model designed to forecast bank credit ratings using only quantitative and publicly available information from their financial statements. For this reason we use the long term ratings provided by Fitch in 2012. Our sample consists of 92 U.S. banks and...

In this paper, we present a novel machine learning based forecasting system of the EU/USD exchange rate directional changes. Specifically, we feed an overcomplete variable set to a Support Vector Machines (SVM) model and refine it through a Sensitivity Analysis process. The dataset spans from...

We empirically test the effects of anticipated and unanticipated monetary policy shocks on the growth rate of real industrial production and explicitly test for different types of asymmetries in monetary policy implementation for two major international economies, the U.S. and Brazil. We depart...

This paper is a condensed version of an actual study commissioned in 2010 to the authors by the Administrative District of East Macedonia and Thrace. The proposed investment plan for the construction of the Burgas-Alexandroupolis Pipeline (BAP) is a significant energy transportation project for...

We propose a Support Vector Machine (SVM) based structural model in order to forecast the collapse of banking institutions in the U.S. using publicly disclosed information from their financial statements on a four-year rolling window. In our approach, the optimum input variable set is defined...