Professor of Economics at the Athens University of Economics and Business (since 1990).
Head of the Department of Economics (since 2020).
Research Associate of the Hellenic Observatory of the London School of Economics and Political Science (since 2011).
Fellow of the European Economic Association (EEA) (since 1999).
Born in Athens, Greece in 1955, married with three adult children.
Past Professional Experience
- Constantine Karamanlis Professor of Hellenic and European Studies at the Fletcher School of Law and Diplomacy, Tufts University (September 2016 – September 2019).
- Member of the Hellenic Parliament (elected September 1996 – October 2009).
- Minister of Economy and Finance of the Hellenic Republic and Greece’s representative at the Eurogroup and the ECOFIN Council (March 2004 – January 2009).
- Member of the Council of the European Economic Association (Elected for the period 1994 – 1998).
- Chairman of the Council of Economic Advisors of Greece (1992-1993).
- Reader (Associate Professor) in Economics at Birkbeck College, University of London (1988-1992).
- Lecturer (Assistant Professor) in Economics, Birkbeck College, University of London (1984-1988).
- Research Fellow, Centre for Economic Policy Research (CEPR) (1985-1999).
- Research Fellow at the Centre for Labour Economics of the London School of Economics (1981-1982)
- Part-time consultant to a number of international institutions, including the European Commission and the World Bank.
- BSc (1977) in Economics from the University of Athens (First Class).
- MSc (1978) in Economics from the London School of Economics and Political Science (LSE).
- PhD (1981) in Economics from the London School of Economics and Political Science (LSE).
Awards and Honours
- 1981 Sayers Prize of the University of London for distinguished doctoral dissertations in monetary economics, awarded for his 1981 PhD dissertation Monetary Policy and Aggregate Supply under Rational Expectations (supervised by George Akerlof, Steve Nickell and Chris Pissarides).
- 2002 Annual Prize of the Academy of Athens for his book (with Sophia Lazaretou), The Drachma: From the Phoenix to the Euro, a monetary and economic history of Greece since the 19th century.
- 2019 Certificate of Achievement Award from Economica, for the paper ‘The Clash of Central Bankers with Labor Market Insiders, and the Persistence of Unemployment and Inflation’ (January 2018), as the most downloaded recent paper published in Economica, between January 2017 and December 2018.
Research and Teaching
Research and teaching focuses on international macroeconomics, inflation and unemployment, economic growth, exchange rate regimes, monetary and fiscal policy and the European and Greek economies.
Has published five books and over 40 papers in academic journals, such as the American Economic Review, the Journal of Political Economy, the Economic Journal, the European Economic Review, the Journal of Monetary Economics, the Journal of Money, Credit and Banking, Economica, Economic Policy and others.
Dynamic Macroeconomics, an advanced graduate textbook, was published in December 2019 by MIT Press.
Key Publications in Academic Journals
“The Labour Market in an Equilibrium Business Cycle Model”, Journal of Monetary Economics, 11 (1983), pp. 117-28.
“On Intertemporal Substitution and Aggregate Labour Supply”, The Journal of Political Economy, 95 (1987), pp. 938-60.
“Wage Setting and Unemployment Persistence in Europe, Japan and the USA” (with Alan Manning), European Economic Review, 32 (1988), pp. 698-706.
“The Phillips Curve, the Persistence of Inflation and the Lucas Critique: Evidence from Exchange Rate Regimes” (with Ron Smith), American Economic Review, 81 (1991), pp. 1254-75.
“Monetary Accommodation, Exchange Rate Regimes and Inflation Persistence”, Economic Journal, 102 (1992), pp. 461-80.
“Money and Endogenous Growth” (with Rick van der Ploeg), Journal of Money, Credit and Banking, 26 (1994), pp. 771-91.
“The Two Faces of Janus: Institutions, Policy Regimes and Macroeconomic Performance in Greece”, Economic Policy, 10 (1995), pp. 147-92.
“Endogenous Growth and External Balance in a Small Open Economy”, Open Economies Review, 25, (2014), pp. 571-594.
“The Clash of Central Bankers and Labor Market Insiders, and the Persistence of Inflation and Unemployment”, Economica, 85, (2018), pp. 152-176.