• Current account deficit sustainability: The case of Greece

      Apergis, Nicholas; Katrakilidis, Costas; Tabakis, Nicholas; University of Macedonia; Aristotelian University of Thessaloniki; Aristotelian University of Thessaloniki (Springer, 1998-11)
    • The emissions, energy consumption, and growth nexus: Evidence from the commonwealth of independent states

      Apergis, Nicholas; Payne, James; University of Piraeus; Illinois State University (Elsevier, 2010-01)
      This study examines the causal relationship between carbon dioxide emissions, energy consumption, and real output within a panel vector error correction model for eleven countries of the Commonwealth of Independent States over the period 1992–2004. In the long-run, energy consumption has a positive and statistically significant impact on carbon dioxide emissions while real output follows an inverted U-shape pattern associated with the Environmental Kuznets Curve (EKC) hypothesis. The short-run dynamics indicate unidirectional causality from energy consumption and real output, respectively, to carbon dioxide emissions along with bidirectional causality between energy consumption and real output. In the long-run there appears to be bidirectional causality between energy consumption and carbon dioxide emissions.
    • Inflation volatility and stock prices: Evidence from ARCH effects

      Apergis, Nicholas; Alexakis, Panagiotis; Xanthakis, Emmanuel; University of Macedonia; University of Aegean; University of Athens (Springer, 1996-05)
      This paper examines the impact of inflation uncertainty on stock prices in developed as well as in emerging capital markets over the period 1980:1–93:12 via an Autoregressive Conditional Heteroskedasticity (ARCH) model for inflation. The results seem to support the presence of a negative association between inflation uncertainty and stock prices.
    • "Meteor showers" and "heat waves" in Greek financial markets.

      Apergis, Nicholas; Katrakilidis, Costas; Papastamatis, Stamatis; University of Macedonia; Aristotelian University of Thessaloniki; Ioanian Bank of Greece (Springer, 1997-11)
      This paper examines the presence of "meteor showers" and "heat waves" effects in Greek financial markets. In particular, the relationship between the stock market price index volatility and the volatility of three exchange rates (U.S. dollar, deutsche mark, and ECU) recorded on a daily basis is investigated. The results provide evidence in favor of the "heat wave" hypothesis, while the "meteor shower" hypothesis was observed only with respect to the U.S. dollar.
    • Monetary volatility, real volatility, and real exchange rate

      Apergis, Nicholas; Katrakilidis, Costas; University of Macedonia; Aristotelian University of Thessaloniki (Springer, 1996-11)
    • On the causal dynamics between renewable and non-renewable energy consumption and economic growth in developed and developing countries

      Apergis, Nicholas; Payne, James; University of Piraeus; University of South Florida Polytechnic (Springer, 2011-11)
      This study extends recent work on the relationship between renewable and non-renewable energy consumption and economic growth to the case of developed and developing countries over the period 1990–2007. Heterogeneous panel cointegration procedures show a long-run equilibrium relationship between real GDP, renewable energy consumption, non-renewable energy consumption, real gross fixed capital formation, and the labor force with the respective coefficient estimates positive and statistically significant for developed and developing country panels. The results from the panel error correction models reveal bidirectional causality between renewable and non-renewable energy consumption and economic growth in the short- and long-run for each country panel.