2^nd INTERNATIONAL SYMPOSIUM ON ECONOMIC THEORY, POLICY AND APPLICATIONS

6-9 August 2007, Athens, Greece

PROGRAM

Organized by

THE ECONOMICS RESEARCH UNIT OF THE ATHENS INSTITUTE FOR EDUCATION AND RESEARCH (AT.IN.E.R.)

Conference Venue: National Bank of Greece, 30 Omirou Street (Close to Syntagma and Panepistimiou Metro Station)

Organizing and Scientific Committee

1. Dr. Gregory T. Papanikos, President and Director, ATINER.
2. Dr. John Roufagalas, Academic Member, ATINER & Professor, Radford University, USA.
3. Dr. Chris Sakellariou, Secretary, ATINER & Associate Professor, Nanyang University, Singapore.
4. Dr. Theofilos Theophanides, Academic Member, ATINER & Professor, Department of Chemical Engineering, National Technical University of Athens, Greece.
5. Dr. Cleopatra Veloutsou, Head, Marketing Research Unit, ATINER & Senior Lecturer in Marketing, Department of Business and Management, University of Glasgow, Scotland, U.K.
6. Dr. Vasilios Filios, Head, Accounting & Finance Research Unit, ATINER & Associate Professor, University of Ioannina, Agrinio, Greece.
7. Dr. Peter Koveos, Academic Member, ATINER & Professor, Syracuse University, USA.
8. Dr. Dimitrios N. Koufopoulos, Head, Management Research Unit, ATINER & Lecturer & Director of Post Graduate Studies, Brunel University, U.K.
9. Dr. Panagiotis Petratos, Head, Computer Research Unit, ATINER & Assistant Professor of Computer Information Systems, California State University, Stanislaus, USA.
10. Dr. David A. Frenkel, Head, Law Research Unit, ATINER & Professor, Ben-Gurion University, Beer-Sheva, Israel.
11. Dr. Niki Kyriakidou, Academic Member, ATINER & Lecturer of Human Resources Management, Leeds Business School, U.K.
12. Zoe Boutzioli, Ph.D. Student, University of Kent, U.K.

Administration

Fani Balaska, Natasa Filiou, Eirini Lentzou, Thomas Papanikos, Sylia Sakka.

CONFERENCE PROGRAM

(The time for each session includes a 10 minutes coffee break)

Monday, August 6^th, 2007

07:30-08:15 Registration

08:15-08:30 Welcome and Opening Remarks

Dr. Gregory T. Papanikos, President and Director, ATINER, Greece

08:30-10:00 Monday, August 6^th, 2007

08:30-10:00 Monday, August 6^th, 2007 Session I: Growth I (ROOM A) Chair: Roufagalas, J, Academic Member, ATINER & Professor, Radford University, USA.  Ashford, R., Professor, Syracuse University, USA. Universalizing the Right to Acquire Capital with the Earnings of Capital: Binary Economic Strategies for Democratizing Capital Ownership, Empowering Poor and Working People and Achieving More Sustainable Growth. Afonso, O., Assistant Professor, University of Porto, Portugal, Alves, R.H., Lecturer, University of Porto, Portugal & Vasconcelos, P., Assistant Professor, University of Porto, Portugal. Public Deficits and Economic Growth. Bauer, C.J., Ph.D. Student, University of Regensburg, Germany & Arnold, L., Associate Professor, University of Regensburg, Germany. Three Theorems on Growth and Competition.

08:30-10:00 Monday, August 6^th, 2007 Session II: Labour (ROOM B) Chair: Lechman, E., Ph. D., Technical University of Gdańsk, Poland. Tavares Mota, R.R., Lecturer, University of Oporto, Portugal & Varejao, J., Assistant Professor, University of Oporto, Portugal & Vasconcelos, P., Assistant Professor, University of Oporto, Portugal. Weak and Strong Hysteresis in the Dynamics of Employment. Mora, J.J., Associate Professor, Universidad Icesi, Colombia. Sheepskin Effects by cohorts in Colombia. Theophilopoulou, A., Ph.D. Student, University of London, UK. Ageing Population and Social Security Reform in a Small Open Economy. Anagnostopoulos, A., Ph.D. Student, University of Birmingham, UK. Regulation & Labour Flexibility: Evidence from Greece. Verashchagina, A., Ph.D. Student, University of Siena, Italy. Overeducation and Inefficiency. Individual and Social Outcomes in Belarus.

08:30-10:00 Monday, August 6^th, 2007 Session III: Political Economy I (ROOM C) Chair: Ash, C., Lecturer, University of Reading, UK. Sotiriou, C., Researcher, Waseda University, Japan & Inoue, T., Professor, Waseda University, Japan & Social Norms, Culture and Economic Incentives in Firms. Weber, C., Ph.D. Student, New School for Social Research, USA, A General Theory on the Hierarchy of Political and Economic Orders. Yoshihara, N., Associate Professor, Hitotsubashi University, Japan. Class and Exploitation in General Convex Cone Economics. Schuerz, M., Economist, Oesterreichische National Bank, Austria. Financial Wealth Distribution of Financial Wealth in Austria. (Monday, 6th August 2007)

10:00-11:30 Monday, August 6^th, 2007

10:00-11:30 Monday, August 6^th, 2007 Session IV: Growth II (ROOM A) Chair: Ashford, R., Professor, Syracuse University, USA. Huato, J., Assistant Professor, Ramapo College of New Jersey, USA. Foreign Ownership and Total Factor Productivity in Mexico's Manufacturing 1988-1998. Iyare, S.O., Professor, The University of West Indies, Barbados. Financial Sector Development and Growth in Small Open Economics. Klein, K., Professor, University of Lethbridge, Canada & Le Roy, D., Professor, University of Lethbridge, Canada. The Biofuels Industry: An Economic Perspective on Growth, Government Intervention, and Future Potential. (Monday 6th August 2007) Moomaw, R., Professor, Oklahoma State University, USA & Yang E.S. Economist, Korea Energy Institute, Korea. Institutional Determinants of Productive Efficiency in Selected OECD Countries:  Economic Freedom, Corruption, and Openness.

10:00-11:30 Monday, August 6^th, 2007 Session V: Technology I (ROOM B) Chair: Anagnostopoulos, A., Ph.D. Student, University of Birmingham, UK. Aschhoff, B., Researcher, Centre for European Economic Research (ZEW), Germany. Who Gets the Money? The Dynamics of Direct R&D Subsidies in Germany. Calcei, D., Professor, Champagne School of Management, France. Technological Choices and Superiority of Technologies: How to Combine the Economic and Strategic Points of View? Kesayayuth, D., Ph.D. Student, University of Essex, UK. The Economic Analysis of Technological Licensing with Grantback Clause. Lechman, E., Researcher, Technical University of Gdańsk, Poland. Technological Progress and its Contribution to Economic Development.

10:00-11:30 Monday, August 6^th, 2007 Session VI: Political Economy II (ROOM C) Chair: Sotiriou, C., Researcher, Waseda University, Japan Ash, C., Lecturer, University of Reading, UK. The Happiness of Personal Relationships: An Economics Perspective. Bacovic, M., Assistant Professor, University of Montenegro, Montenegro & Vujovic, V., Director, HLT Investment Fund, Montenegro. Property Rights and Private Autonomy in Montenegro. Catarino Barreira, A.P., Professor, University of Algarve, Portugal & Baleiras, R.N., Assistant Professor, University of Minho, Portugal. Elections and the Public Expenditure Mix.

11:30-13:00 Monday August 6^th, 2007

11:30-13:00 Monday, August 6^th, 2007 Session VII: Fiscal Policy (ROOM A) Chair: Huato, J., Assistant Professor, Ramapo College of New Jersey, USA. Honig, A., Assistant Professor, Amherst College, USA. Do Improvements in Government Quality Necessarily Reduce the Incidence of Costly Sudden Stops? D’Elia, F., Researcher, Institute for Studies and Economic Analyses, Italy & Declich, C., Researcher, Institute for Studies and Economic Analyses, Italy. Redistribution and Progressivity of Personal Income Taxation: Evidence From Italian Tax Reforms Meloni, O., Associate Professor, University of Tucumán, Argentina & Bercoff, J., Assistant Professor, University of Tucumán, Argentina. Federal Budget Allocation in an Emergent Republic. Evidence from Argentina. Carriero, A., Lecturer, Queen Mary University of London, UK. A Bayesian Framework for the Expectations Hypothesis. How to Extract Additional Information From the Term Structure of Interest Rates.

11:30-13:00 Monday, August 6^th, 2007 Session VIII: Technology II (ROOM B) Chair: Calcei, D., Professor, Champagne School of Management, France. Ferreira, F., Professor, ESEIG, Institute Polytechnic of Porto, Portugal, Pinto, A., Professor, University of Minho, Portugal, Ferreira, F., Professor, ESEIG, Instituto Politecnico do Porto, Portugal & Oliveira, B., Professor, Institute Polytechnic of Porto, Portugal. Stochasticity Favoring the Effects of the R&D Strategies of the Firms. Rousseva, R., Researcher, United Nations University Maastricht Economic Research and training centre on Innovation and Technology (UNU-MERIT), the Netherlands. Building Technological Capabilities with High Degree of Coherence: A Challenging Task before Latecomer Software Companies. Santos, S., Assistant Professor, Technical University of Lisbon, Portugal. Better Databases for Economic Modelling: Constructing SAMs from the SNA.

11:30-13:00 Monday, August 6^th, 2007 Session IX: History (ROOM C) Chair: Schuerz, M., Head of Monetary Unit, Economic Analysis, Oesterreichische National Bank, Austria. Depoortère, C., Researcher, Paris 8 University, France. Is William Nassau Senior the First Neo-classical Economist? El-Sheikh, S., Full Professor, St. Francis, Xavier University, Canada. Will the Marshall Laws of Derived Demand Stand Up? (Monday, 6th August 2007, afternoon) Le Maux, L., Associate Professor, Paris 8 University, France. Richard Cantillon’s Banking Principle. Rieucau, N., Associate Professor, Paris 8 University, France. The Application of Mathematics to Economy and the “Social Mathematic”: Condorcet’s Intellectual Path.

13:00-14:30 Monday, August 6^th, 2007

13:00-14:30 Monday, August 6^th, 2007 Session X: Development (ROOM A) Chair: Barthel, J., Researcher, Humboldt-University of Berlin, Germany. Garcia Cabello, M., Ph.D. Student, University of Bath, UK. Different Patterns of Institutional Change in Regulation of Microfinance in Central America. Haddad, E., Associate Professor, University of Sao Paulo, Brazil & Hewings, G., Professor, University of Illinois, USA. Port Efficiency and Regional Development. Norte, N., Assistant Professor, University of Algarve, Portugal & Andraz, J., Assistant Professor, University of Algarve, Portugal. Sigma Convergence “Versus” Beta Convergence: Evidence From the Portuguese Regions. Noorbakhsh, F., Professor, University of Glasgow, UK. Aid, Conflict and Human Development.

13:00-14:30 Monday, August 6^th, 2007 Session XI: Education (ROOM B) Chair: Rousseva, R., Researcher, United Nations University Maastricht Economic Research and training centre on Innovation and Technology (UNU-MERIT), the Netherlands. Liu, Q., Ph.D. Student, Uppsala University, Sweden. “Too Much Education” and can we have it all? —The Impact of Marriage on the Returns to Education. Nunes, A., Lecturer, Instituto Politécnico de Bragança, Portugal & Fernandes, P., Lecturer, Instituto Politécnico de Bragança, Portugal. Microeconometric Evaluation of Undergraduate Students’ Results: A Matching Methodology Application to a Portuguese Polytechnic. Schrage, A., Assistant Professor, University of Regensburg, Germany. Low Fertility of Highly Educated Women: The Impact of Child Care Infrastructure. Yalonetzky, G., Teaching Associate, University of Oxford, UK. How do Breaks in Education Transmission Across Generations Affect Comparisons of Persistence and Long-Term Educational Prospects? The Case of Peru.

13:00-14:30 Monday, August 6^th, 2007 Session XII: Social Issues (ROOM C) Chair: El-Sheikh, S., Full Professor, St. Francis, Xavier University, Canada. Mosora, C-L., Assistant Teacher, Academy of Economic Studies, Romania & Marinescu, C., Lecturer, Academy of Economic Studies, Romania. The Primacy of Institutions in Nowadays Economics. Vaillant, N., Associate Professor, Université Catholique de Lille, France. Infanticide, Rational Use of Violence and Deterrence Evidence 19th Century Brittany. Serrano, O., Ph.D. Student, Graduate Institute of International Studies, Switzerland & Collignon, S., Associate Professor, Harvard University, USA. The Political Economy of Right-wing Populism and Euroscepticism in Switzerland.

14:30-15:30 LUNCH

FREE AFTERNOON TO WALK AROUND PLAKA AND ACROPOLIS

20:30 - 22:30 GREEK NIGHT AND DINNER  

08:30-10:00 Tuesday, August 7^th, 2007

08:30-10:00 Tuesday, August 7^th, 2007 Session XIII: Monetary Policy I (ROOM A) Chair: Karras, G., Professor, University of Illinois, USA.  Fortin, M., Associate Professor, University of Sherbrooke, Canada & Leclerc, A., Associate Professor, University of Moncton, Canada. Should we Abandon the Intermediation Approach for Analyzing Banking Performance? Lee, J., Teaching Fellow, University of Southampton, UK & Scaramozzino, P., Reader, University of London, UK. Excess Reserves and Macroeconomic Instability. Bobeica, G., Assistant Professor, Academy of Economic Studies Bucharest, Romania & Bojesteanu, E., Assistant Professor, Academy of Economic Studies Bucharest, Romania. Alternative Methods to Identify the European Monetary Policy Shocks.

08:30-10:00 Tuesday, August 7^th, 2007 Session XIV: Environment (ROOM B) Chair: Theophanides, T., Academic Member, ATINER & Professor, Department of Chemical Engineering, National Technical University of Athens, Greece. Lumby, A., Head, University of the Witwatersrand, South Africa. Accounting for the Environment: Recent Developments in the Greening of the National Accounts. (Tuesday) Barthel, J., Researcher, Humboldt-University of Berlin, Germany. Environmental Policy in Dynamic Models with Pollution by Consumers: The Impact of Exogenous Shocks and Dozy Politicians.

08:30-10:00 Tuesday, August 7^th, 2007 Session XV: Agricultural Economics (ROOM C) Chair: Saravia, S., Ph.D. Student, University of Sheffield, UK. Segarra, E., Associate Professor and Chair, Texas Tech University, USA & Chidmi, B., Assistant Professor, Texas Tech University, USA. The Dynamics of Price Competition in Dallas Fort Worth Supermarket Industry: The Case of Fluid Milk. Babula, R., Director, University of Copenhagen, Denmark & Lund, M., Director, University of Copenhagen, Denmark. A Cointegrated VAR Model of U.S. Pork-Based Markets. Brunette, M., Associate Professor, BETA-REGLES, France. A Dynamic Approach of Forest Owner Self-Insurance Behavior in Risky Forest Management: Saving versus Sylvicultural Practices. Pycroft, J., Dphil Economics Candidate, University of Sussex, UK. The Adoption and Productivity of Modern Agricultural Technologies in Ethiopia: A Cross-Sectional Analysis of Maize Production in the West Gojam Zone in the Ethiopian Highlands.

10:00-11:30 Tuesday, August 7^th, 2007

10:00-11:30 Tuesday, August 7^th, 2007 Session XVI: : Monetary Policy II (ROOM A) Chair: Kallianiotis, J., Professor, University of Scranton, USA. Rands Coelho Barros, A., Associate Professor, Federal University of Pernambuco, Brazil. How to Make Bankers Richer: The Brazilian Financial Market with Public and Private Banks. Weber, A., Ph.D. Student, University of Cambridge, UK. Heterogeneous Expectations, Learning and European Inflation Dynamics.

10:00-11:30 Tuesday, August 7^th, 2007 Session XVII: Micro Issues I (ROOM B) Chair: Ferreira, F., Leturer, ESEIG, Institute Polytechnic of Porto, Portugal Hoffmann, R., INRA and Ecole Polytechnique, Laboratoire d’Econométrie, Paris, France, Giraud-Héraud, E., INRA and Ecole Polytechnique, Laboratoire d’Econométrie, Paris, France, Hammoudi, H., INRA and University of Paris 2, Paris, France, Soler, L-G.,  INRA, Paris, France. Vertical Relationships and Joint Private Safety Standards. Kazakevitch, G., Lecturer, Monash University, Australia & Torlina, L., Lecturer, Deakin University, Australia. Consumer Loyalty versus Propensity to Switch between Providers in Digital Product Markets. Saravia, S., Ph.D. Student, University of Sheffield, UK. Technical Efficiency and Institutional Change, a Stochastic Frontier Approach. Sarmento, P., Assistant Professor, University of Porto, Portugal & Brandao, A., Full Professor, University of Porto, Portugal. Entry Regulation under Asymmetric Information about Demand: A Signaling Model Approach.

10:00-11:30 Tuesday, August 7^th, 2007 Session XVIII: International Finance (ROOM C) Chair: Niki Kyriakidou, Academic Member, ATINER & Lecturer of Human Resources Management, Leeds Business School, U.K. Lopes, J., Lecturer, Instituto Politecnico de Braganca, Portugal & Tua Pereda, J., Associate Professor, University Autonoma of Madrid, Spain. Is the CAPM a Proper Method to be Used in the Process of Computing the Value in Use? Zhao, X., Dean, Jiangsu University, China. Empirical Study on Autocorrelation of the Rate of Return on Chinese Stock Market. (Tuesday, 7th August 2007)

11:30-13:00 Tuesday August 7^th, 2007

11:30-13:00 Tuesday, August 7^th, 2007 Session XIX: International I (ROOM A) Chair:Niki Kyriakidou, Academic Member, ATINER & Lecturer of Human Resources Management, Leeds Business School, U.K Kallianiotis, J., Professor, University of Scranton, USA. Economic Fundamentals and Euro’s Overvaluation. Karras, G., Professor, University of Illinois, USA. Foreign Aid Versus Private Capital Flows: A Comparison of their Macroeconomic Effects in Developing Countries. (Tuesday, 7th August 2007) Razgallah, B., Economist, Arab Monetary Fund, United Arab Emirates. Was the Scandinavian Monetary Union an Optimum Currency Area? A Generalised Purchasing-Power Parity Approach. Rostro Contreras, F.R., Full Time Professor, Polytechnique University from San Luis Potosi, Mexico & Grudzewski, W.M., Principal. ORGMASZ Institute, Mexico. Methodology for Competitive Advantage Creation through the Development of a Strategic Market Focus in Mexican SME´s.

11:30-13:00 Tuesday, August 7^th, 2007 Session XX: Micro Issues II (ROOM B) Chair: Liu, Q., Ph.D. Student, Uppsala University, Sweden. Atallah, Assistant Professor, University of Ottawa, Canada. Stackelberg Leadership: A Solution to the Merger Paradox? Perekhozhuk, O., Researcher, Leibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO), Germany, Grings, M., Professor, Martin Luther University Halle-Wittenberg, Germany & Glauben, T., Professor, Leibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO), Germany. Measuring the Degree of Market Power and Conjectural Variations in the Ukrainian Milk Processing Industry. Ragazas, C., Math Faculty, The Lawrenceville School, USA. A Simple Stock Comparison Model and Planck's Law in Quantum Physics:The Birth of an Idea. Serletis, A., Professor, University of Calgary, Canada & Elder, J., Associate Professor, North Dacota University, USA. Oil Price Uncertainty. Zhou, Y., Ph.D. Student, Monash University, Australia. Some Long-Run Macroeconomic Implications of Non-Perfect Competition.

11:30-13:00 Tuesday, August 7^th, 2007 Session XXI: Business Economics (ROOM C) Chair: Vasilios Filios, Head, Accounting & Finance Research Unit, ATINER & Associate Professor, University of Ioannina, Agrinio, Greece. Houghton Budd, C., Director, Centre for Associative Economics, England. Deep Accounting – Reconnecting Accounting and Economics. Ramljak, B., Associate Professor, University of Split, Croatia. Role of Accounting Profession in Transition Conditions – Focus on Croatia. Lambert, E.A., Ph.D. Student, CNRS and University Nancy 2, France. Appeal Judgments: What about a Second Chance before Breaking Off? Monheim, J., Researcher, Saarland University in Germany & Obidzinski, M., Researcher, University of Nancy 2, France. Optimal Discretion in Asylum Lawmaking. Sedova, J., Lecturer, Masaryk University, Czech Republic. Quality Assessment of Business Administration in the Czech Republic and Problems of Owners’ Role Parameterization.

13:00-14:30 Tuesday, August 7^th, 2007

13:00-14:30 Tuesday, August 7^th, 2007 Session XXII: International II (ROOM A) Chair: Razgallah, B., Economist, Arab Monetary Fund, United Arab Emirates. Springler, E., Assistant Professor, Vienna University of Economics and Business Administration, Austria & Homlong, N., Associate Professor, University College Volda, Norway. Attractiveness of India and China for Foreign Direct Investment. Seyrek, I., Assistant Professor, Hitit University, Turkey. Globalization and the Hypothesis of Business Cycle Convergence: An International Comparison with Panel Data. Wan, G., Researcher, NU-WIDER, Finland & Qureshi, M., Professor, University of Cambridge, UK. Trade Expansion of China and India: Treat or Opportunity. Imer, E., Specialist, The Central Bank of the Republic of Turkey. Can Global Issues Explain the Next in Financial Crises?

13:00-14:30 Tuesday, August 7^th, 2007 Session XXIII: Health (ROOM B) Chair: Zoe Boutzioli, Ph.D. Student, University of Kent, U.K. Abu-Zaineh, M., Ph.D. Student, Institut National de Santé et de la Recherche Médicale (INSERM U379), France, Mataria, A., Assistant Professor, Birzeit University, France, Luchini, S., Professor, Groupement de Recherche en Economie Quantitative d’ Aix-Marseille-UMR-CNRS & Moatti, J.P., Professor, Universite de la Mediterranee, France. Redistributive Effects of Health Care financing in the Occupied Palestinian Territory:  A Decomposition Analysis Approach. Wubker, A., Ph.D. Student, WHL, Graduate School of Business and Economics, Germany & Kuchinke, B.A., Researcher, University of Ilmenau, Germany. Measuring and Assessing Shortfalls of Public Owned Hospitals: Empirical Evidence from 1998 to 2004. Ceritoglu, E., Ph.D. Student, University of Nottingham, UK. Health Risk and the Purchases of Private Health Insurance in Turkey. Harrant, V., Associate Professor, Université de Reims Champagne Ardenne, France & Vaillant, N., Associate Professor, Université de Reims Champagne Ardenne, France. How does Health Risk Change affect the Willingness to Pay for a Financial Risk Reduction? Malla, S., Associate Professor, University of Lethbridge, Canada & Hobbs, J.E. Professor, University of Saskatchewan, Canada. Valuing the Potential Health Benefits of Trans-Fat Free Oil.

13:00-14:30 Tuesday, August 7^th, 2007 Session XXIV: Econometrics (ROOM C) Chair: Sedova, J., Lecturer, Masaryk University, Czech Republic. Negem, S.H., Assistant Lecturer at Tanta University in Egypt and a Ph.D. Student at Hull University in UK. A Simultaneous Equation Model of Policies Relating to Fiscal Policy, Monetary Policy and Trade Flows in the United Kingdom. Stewart, C., Lecturer, London Metropolitan University, UK. Spurious Correlation of I(1) Regressors in Models with an I(0) Dependent Variable: Asymptotic Results.

14:30-15:30 LUNCH 

FREE AFTERNOON TO VISIT THE NATIONAL ARCHAEOLOGICAL MUSEUM (PATISION AVENUE) OR SHOP AROUND SYNTAGMA SQUARE

20:00 - 21:30 DINNER

Wednesday, August 8^th, 2007

CRUISE: Departure at 7:00 a.m. Return at 8:30 p.m.

Thursday, August 9^th, 2007

Marathon Tour: Departure at 8:00 a.m. Return at 3:30 p.m.