This study provides estimates of economic uncertainty and inflation uncertainty for the Greek economy and considers their time-varying impact on the corresponding macroeconomic variables, i.e. GDP growth and inflation. The authors find that, in both cases, the degree of uncertainty varies over...

Indicators of economic activity, such as gross domestic product (GDP), are usually published with a significant delay, meaning that central banks and ministries rely on estimates or predictions of the key economic indicators in order to conduct monetary and fiscal policy. The econometric...

The paper develops a financial systemic stress index (FSSI) for Greece. We present a methodology for constructing and evaluating a systemic stress index which: i) adopts the suggestion of Hollo et al. (2012) [Hollo, Kremer, and Duca (2012) “CISS – A ‘Composite Indicator of Systemic...

We examine the ability of large-scale vector autoregressions (VARs) to produce accurate macroeconomic (output and inflation) and credit (loans and lending rates) forecasts in Greece, during the latest sovereign debt crisis. We implement recently proposed Bayesian shrinkage techniques and we...

This study examines in parallel the determinants of interest and non-interest income in the Greek banking system aiming to understand the primary drivers of overall profitability for Greek banks. Using dynamic panel data techniques and a unique data set, including supervisory data, covering the...