Academic Publications

Academic Publications and Working Papers

The Distribution of Investor Beliefs, Stock Ownership and Stock ReturnsGikas Hardouvelis, Georgios Karalas, Dimitri VayanosSSRN 3824433, April 2021
Financial Crisis and Non-Performing Exposures in GreeceGikas A. HardouvelisTranslation from the original article in Greek, published in a book of conference proceedings, entitled: “Obligations of Financial Institutions, Proceedings from the 29th Panhellenic Conference on Commercial Law,” pp.245-297, edited by the Association of Greek Commercialists, Nomiki Vivliothiki, Athens, 2021.
Economic Policy Uncertainty, Political Uncertainty and the Greek Economic CrisisGikas A. Hardouvelis, Georgios I. Karalas, Dimitrios I. Karanastasis, Panagiotis K. SamartzisSSRN 3155172 April 2018
Greek Sovereign Debt: Addressing Economic Distress and Growth in the Euro AreaP. Alexakis, G. Hardouvelis, D. Paxson, G. Sick, L. TrigeorgisSSRN 3092688 December 2017
Style Concentration in Ownership and Expected Stock ReturnsGikas A. Hardouvelis and Georgios I. KaralasSSRN 3065191, October 2017
A Decade Long Economic Crisis: Cyprus versus Greece Gikas A. Hardouvelis and Ioannis GkionisCyprus Economic Policy Review, Vol. 10, No. 2, pp. 3-40. 2016
Comment on ‘‘Lessons for Monetary Policy from the Euro-Area Crisis’’Gikas A. HardouvelisJournal of Macroeconomics , Volume 31, Part B, March 2014
External Financing, Growth and Stock ReturnsG. Hardouvelis, G.Papanastasopoulos, D.Thomakos, T.WangEuropean Financial Management, 18:5, pp 790-815, August 2012
Hedge Funds and the US Real Estate Bubble: Evidence from NYSE Real Estate FirmsHardouvelis, Gikas A. and Stamatiou, Theodoros G.SSRN 1455902, April 2011
Consumer Confidence and ElectionsG. Hardouvelis, D.ThomakosSSRN 962427, September 2007
The impact of EMU on the equity cost of capitalG. Hardouvelis, D. Malliaropoulos and R. PriestleyJournal of International Money and Finance, 26:2, pp.305-327, March 2007
EMU and European Stock Market IntegrationG. Hardouvelis, D. Malliaropulos and R. PriestleyJournal of Business, 79:1, pp 365-392, January 2006
The Yield Spread as a Symmetric Predictor of Output and Inflation (CEPR Discussion Paper No. 4314)G. Hardouvelis, D.Malliaropoulos SSRN 497822, March 2004
Asset Prices and the Need for New Policy Instruments: The Case of Countercyclical Margin PolicyG. HardouvelisBanque De France, International Symposium, Monetary Policy, Economic Cycle and Financial Dynamics, pp. 331-350, March 2003
The Asymmetric Relation between Margin Requirements and Stock Market Volatility across Bull and Bear MarketsG. Hardouvelis, P. TheodossiouThe Review of Financial Studies, 15:5, 1525-1559, December 2002
Asset Pricing Models with and without Consumption: An Empirical EvaluationG.Hardouvelis, D. Kim and Th. WizmanJournal of Empirical Finance, September 1996, 3: 267-301
Price Volatility and Futures MarginsG. Hardouvelis, D. KimJournal of Futures Markets, February 1996
Margin Requirements, Price Fluctuations and Market Participation in Metal FuturesD. Kim, G. HardouvelisJournal of Money, Credit and Banking, August 1995, 27: 659 - 671
The Term Structure Spread and Future Changes in Long and Short Rates in the G7 Countries: Is there a Puzzle? G. HardouvelisJournal of Monetary Economics, March 1994, vol.33, pp.255-283
Margin Requirements, Speculative Trading and Stock Price Fluctuations: The Case of JapanG. Hardouvelis,S. PeristianiQuarterly Journal of Economics, November 1992, 107: 1333-1370
Money and Interest Rates: The Effects of Temporal Aggregation and Data Revisions T. Cunningham, G. HardouvelisJournal of Economics and Business, February 1992, 44: 19-30
Monetary Policy Games, Inflationary Bias and OpennessG. HardouvelisJournal of Economic Dynamics and Control, January 1992, 16: 147-164
The Term Structure as a Predictor of Real Economic ActivityA. Estrella, G. HardouvelisJournal of Finance, June 1991, 46(2): 555-576
Margin Requirements, Volatility, and the Transitory Component of Stock PricesG. HardouvelisAmerican Economic Review, September 1990, 80(4): 736-762
Commentary: Stock Market Margin Requirements and VolatilityG. HardouvelisJournal of Financial Services Research, December 1989, Volume 3: 139-151.
The Evolution of Federal Reserve Credibility: 1978-1984G. Hardouvelis and Sc. W. Barnhartthe Review of Economics and Statistics, August 1989, LXXI: 385-393.
The Predictive Power of the Term-Structure During Recent Monetary Regimes G. HardouvelisJournal of Finance, June 1988, 43: 339-356.
Stock Prices: Nominal versus Real Shocks, lead article G. HardouvelisFinanzMarkt und Portfolio Management, Jahrgang 1988, 2: 10-18
Economic News, Exchange Rates, and Interest RatesG. HardouvelisJournal of International Money and Finance, March 1988, 7: 23-35.
Monetary Policy and Short-Term Interest Rates: New Evidence on the Liquidity EffectG. HardouvelisJournal of International Money and Finance, December 1987,6: 419-432.
Monetary Policy and Short-Term Interest Rates: New Evidence on the Liquidity EffectG. HardouvelisEconomics Letters, 1987, 25: 63-66.
Optimal Wage Indexation and Monetary Policy in an Economy with Imported Raw MaterialsG. HardouvelisJournal of International Money and Finance, December 1987,6: 419-432.
Reserves Announcements and Interest Rates: Does Monetary Policy Matter? G. HardouvelisJournal of Finance, June 1987, 42: 407-422.
Macroeconomic Information and Stock PricesG. HardouvelisJournal of Economics and Business, May 1987, 39: 131-140.
Exchange Rates, Interest Rates, and Money Stock Announcements: A Theoretical Exposition, G. HardouvelisJournal of International Money and Finance, December 1985, 4: 443-454.
Commodity Prices, Money Surprises, and Fed CredibilityJ. A. Frankel, G. HardouvelisJournal of Money, Credit and Banking, November 1985 (part I), 17: 425-438.
Market Perceptions of Federal Reserve Policy, and the Weekly Monetary AnnouncementsG. HardouvelisJournal of Monetary Economics, September 1984, 14: 225-240.
Are Rational Expectations for Real? R.Craine, G.HardouvelisGreek Economic Review, April 1983, 5: 5-32.

Books in Greek (editor)

From the international Crisis to the Greek and Euro Area Crisis: What will the Future
G. Hardouvelis with N. KaramouzisLivanis Publishing, ISBN 978-960-14-2343-2, Athens,
September 2011
The International Crisis, the Euro Area Crisis and the Greek Financial SectorG. Hardouvelis with Chr. GortsosHellenic Bank Association, ISBN: 978-960-6867-13-2, July 2011
The Housing Market: Prospects and Investment OpportunitiesG. Hardouvelis with N. KaramouzisSakkoulas Publishing, ISBN: 978-960-445-166-1, Athens-Thessaloniki, March 2007
Sources of Growth: Can Greece follow the Irish Example?G. HardouvelisKerkyra Publishing, ISBN 960-8386-38-1, Athens, January 2006

Books in Greek (author)

Financial Institutions Risk ManagementG. Hardouvelis with E. TsiritakisTextbook for the Open University, Patras, 2002
Euro, a Single Currency for EuropeG. Hardouvelis with Ph. SachinidisISBN: 960-86146-2-7, Athens, 1998