Marios Psychalis

Dr. Marios Psychalis

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Research Focus & Metrics

Academic Career Length

5Years (2022-Present)

(Calculated once Scilit publication data is synced: current year − year of first publication + 1)

Representative Publications

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6 December 2023 in International Journal of Innovation and Technology Management
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Journal Article
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KAKonstantina Agoraki
Konstantina Agoraki
Georgios A. DeirmentzoglouGeorgios A. Deirmentzoglou
Georgios A. Deirmentzoglou
MPMarios Psychalis
Marios Psychalis
Sotiris ApostolopoulosSotiris Apostolopoulos
Sotiris Apostolopoulos

12 January 2024 in Social Sciences
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Journal Article
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Georgios MarisGeorgios Maris
Georgios Maris
MPMarios Psychalis
Marios Psychalis
Could the European Union mitigate the negative effects of economic, pandemic and environmental crises using only one tool? The answer is positive, by implementing “green” fiscal expansion financed by “green” common debt, such as issuing green bonds. In this paper, we connect the independent responses to different crises into a single response that could end them. The European Union’s theoretical background is based on new-classical models, but current research findings doubt new-classical orthodoxy, underling the importance of economic federalism for sustainable economic and green growth. We argue that the Economic and Monetary Union has to speed up fiscal federalism by establishing a powerful European Union common budget using green Eurobonds and implementing fiscal transfers as a mechanism to address the consequences of the triple crisis.

1 October 2022 in World
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Nikolaos ApostolopoulosNikolaos Apostolopoulos
Nikolaos Apostolopoulos
MPMarios Psychalis
Marios Psychalis
Panagiotis G LiargovasPanagiotis G Liargovas
Panagiotis G Liargovas
This paper discusses the effectiveness of EU economic measures towards the pandemic crisis in the case of Greece. As the pandemic crisis was an exogenous and symmetric crisis, EU member states decided to take supply and demand side measures to tackle economic recession. Not only the Recovery plan for Europe (NGEU), but also the Escape Clause, as well as non-standard monetary measures, were implemented in order to achieve growth. Furthermore, fiscal expansion, as well as common debt extraction, using green and social bonds led to higher government spending and sovereign debt. The paper’s research question is “Could fiscal expansion mitigate the economic consequences of pandemic crisis?” In other worlds, the research gap which this paper tries to fill is that for the contemporary EU response to two different crises, the economic and the pandemic. Our analysis, by using a comparative approach, shows that government spending and fiscal expansion is effective in the short-run, as the temporary measures led to higher GDP growth rates and lower unemployment rates, but in the long-run demand side measures led to higher inflation and higher sovereign debt.

28 May 2025 in Journal of the Knowledge Economy
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Elias G. CarayannisElias G. Carayannis
Elias G. Carayannis
Savvas ChatzichristofisSavvas Chatzichristofis
Savvas Chatzichristofis
GKGeorgios Kyprianou
Georgios Kyprianou
MPMarios Psychalis
Marios Psychalis
GSGeorge Sklias
George Sklias

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PPPatroklos Patsoulis
Patroklos Patsoulis
MPMarios Psychalis
Marios Psychalis
Georgios A. DeirmentzoglouGeorgios A. Deirmentzoglou
Georgios A. Deirmentzoglou
This paper discusses the future of the Stability and Growth Pact (hereafter SGP). Although Neoclassical economic models argue that strict fiscal and monetary rules minimize moral hazard and crowding out, in practice many governments adopt fiscal expansion (in recent years in the form of non-standard monetary measures) to mitigate market failures, consequently rethinking monetary rules and targets. Government spending and countercyclical policies are essential tools for soothing business cycles and other market failures. To this end, we empirically test whether current and past forms of the SGP have led to greater convergence, while we critically assess and investigate a possible SGP reform. By adopting more flexible rules, in terms of government spending and fiscal expansion, the Economic and Monetary Union (hereafter EMU) could yield multiple positive spillover effects in long-term economic growth under specific terms and conditions, such as green conditionalities. We conclude that to mitigate the triple crisis threat (economic, environmental and health), what is mostly needed are reforms in the form of fiscal federalism, such as common debt issuance (Eurobonds) that enhance the ability of the EMU to tackle the consequences of the aforementioned crises.