This study performs a long-run, inter-temporal analysis of income inequality in the U.S. for the period 1916-2012. We use a) descriptive analysis to examine the evolution of inequality through time and b) complex network tools, more specifically an optimization technique called the...

We test the validity of Purchasing Power Parity theory, examining the Real Exchange Rate of 23 OECD countries for mean-reversion. In doing so, we estimate the Hurst exponent which is a well-established estimator of long memory in time series analysis. The innovation of our approach is that we...

This survey provides an up-to-date summary of the literature that relates to the study of business cycle synchronization. Various paths have been followed through time in empirically testing business cycle co-movement and different data sets have been explored so that to date consensus still...

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...

In this paper, we investigate the ability of two popular models to forecast the deviation of GDP from its long-run trend, i.e. inflationary and output gaps. In doing so, we exploit the information provided by the yield curve that is documented in the literature as a good predictor of economic...

We propose an 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...

A healthy and stable banking system resilient to financial crises is a prerequisite for sustainable growth. Minimization of a) the associated systemic risk and b) of the contagion effect in a banking crisis is a necessary condition to achieve this goal. The Central Bank is in charge of this...

In this paper, we present a novel machine learning based forecasting system of the EUR/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...

The magnitude of the recent financial crisis, which started from the U.S. and expanded in Europe, change the perspective on banking supervision. The recent consensus is that to preserve a healthy and stable banking network, the monitoring of all financial institutions should be under a single...