Published Papers

The Scope of Economic and Financial Asymmetries

Date: 10/03/2023Author: George Alogoskoufis 0 Comments

Alogoskoufis George, Maliaris Anastasios and Stengos Thanasis (2023), “The Scope and Methodology of Economic and Financial Asymmetries”, Journal of Economic Asymmetries

This paper focuses on economic and financial asymmetries by addressing methodological issues related to the meaning of economic asymmetries and how such asymmetries arise in markets, general equilibrium modeling and in national and global economies.

The methodology of modeling asymmetric information began with Akerlof’s celebrated model of “lemons” and while these asymmetries were quickly adopted in microeconomics, macroeconomics, business cycles and related areas, economic policies adapted the concept of asymmetries to highlight the importance of unequal magnitudes of responses among economic and financial variables.

We discuss numerous topics that illustrate the large scope of economic and financial asymmetries in actual economies and their modeling to establish their methodological centrality in economic analysis and policy.

Link to the paper in the Journal of Economic Asymmetries

Leave a Reply Cancel reply

Enter your comment here...

Fill in your details below or click an icon to log in:

Email (required) (Address never made public)

Name (required)

Website

You are commenting using your WordPress.com account. ( Log Out / Change )

You are commenting using your Twitter account. ( Log Out / Change )

You are commenting using your Facebook account. ( Log Out / Change )

Connecting to %s

The origins of the post-2010 Greek crisis and the pre-conditions – economic, political and institutional - for a sustained recovery of the Greek economy were examined recently by a number of prominent academics, many of whom possess extensive political experience in Greece. A selection of their contributions, first presented in a workshop at the London School of Economics, in December 2018, and a conference at the Fletcher School of Tufts University in April 2019, is collected in this e- book, edited by the organisers, George Alogoskoufis and Kevin Featherstone. With ramifications for both Greece and the Euro-Area as a whole, the contributions consider the constraints that derive from the structural linkages between the domestic and the European levels. While concerned with the core economic agenda, they place it within its political, social, and institutional contexts in order to have a more complete assessment. They ask what scope there is for recovery, the priorities that need to be set, and the prospects for their attainment. Many of the chapters have been updated to take into account developments since the Covid-19 pandemic in 2020. More details on the 2018 workshop and the 2019 conference that led to this e-book can be found in the link below.

This book from the Centre for Economic Policy Research (CEPR) deals with the implications of the exchange rate regimes and capital flows of the 1990s for government macroeconomic policy-making and EC policy co-ordination. Under the fixed exchange rates of the 1950s, economists and policy-makers had a much clearer idea of the nature of the external constraints. The commitment to defending the exchange rate is stronger in the 1990s than in the 1970s and 1980s, but at the same time international capital flows are far greater and freer than in the 1950s and 1960s, with many countries able to borrow almost indefinitely and on good terms on the Eurodollar market in order to finance their balance-of-payments deficits. This volume, derived from a conference organised jointly by CEPR and the Bank of Greece, deals with these issues in depth and includes both cross-country comparisons and case studies of individual countries.

%d bloggers like this: