ANASTASIOS PAPPAS

Dr. ANASTASIOS PAPPAS

Economics, National and Kapodistrian University of Athens, Athens, Attikí, Greece
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Research Focus & Metrics

Academic Career Length

7Years (2020-Present)

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

Representative Publications

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29 January 2025 in Economies
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ANASTASIOS PAPPASANASTASIOS PAPPAS
ANASTASIOS PAPPAS
Nikolaos BoukasNikolaos Boukas
Nikolaos Boukas
Examining the economies of the European Union from 2000 to 2023, we have found no strong evidence that the inflation rate has a negative impact on economic growth. In contrast, in line with conventional economic theory, higher interest rates are associated with lower economic growth. The results remain consistent even after controlling for various control variables, non-linearities and endogeneity issues. These findings suggest that an aggressive tightening of monetary policy in the euro area, aimed at rapidly bringing inflation under control, could actually be detrimental to economic growth. Since the negative effects of monetary tightening on growth are clear, while the benefits of rapidly reducing inflation on economic growth are ambiguous, the European Central Bank must be cautious about both the intensity and the duration of monetary tightening.

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ANASTASIOS PAPPASANASTASIOS PAPPAS
ANASTASIOS PAPPAS
Ioannis KostakisIoannis Kostakis
Ioannis Kostakis
This study presents empirical evidence about the determinants of long-term government bond yields for 19 economies of the European Monetary Union (EMU) over the period 1995–2018 within a multivariate panel framework. The fixed effects estimators reveal that the relationship between public debt to the GDP ratio and yields is non-linear. We observe a threshold, which is determined to be at the area 90% of the ratio of public debt to GDP. Beyond that, area government borrowing costs increase as the public debt rises. Furthermore, we find evidence that a GDP decline and the downgrades of sovereign ratings increase the costs of government borrowing. In contrast, the operation of independent fiscal institutions helps to reduce government’s debt risk premium. Finally, liquidity in the Euro area plays a significant role on yields determination. The results remain robust when the dynamic instrumental variable fixed effect (FE-2SLS) and dynamic panel least square dummy variable corrected (LSDVC) estimators are employed. Empirical findings suggest important policy implications for the ongoing Covid-19 crisis for the EMU.

19 May 2024 in JCMS: Journal of Common Market Studies
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BCBogdan Căpraru
Bogdan Căpraru
ANASTASIOS PAPPASANASTASIOS PAPPAS
ANASTASIOS PAPPAS
Nicu SprinceanNicu Sprincean
Nicu Sprincean
In this article, we examine the non‐linear relationship between the number of fiscal rules in place and compliance with the European Union's (EU) numerical fiscal targets included in the Stability and Growth Pact (SGP). Using a sample composed of 27 EU Member States for a period spanning 2000 to 2021, we document that countries' compliance with fiscal rules is positively associated with the number of numerical fiscal targets. However, this association only holds up to a specific threshold. Once this threshold is achieved, the relationship becomes negative, implying that the multiplication of numerical fiscal rules may undermine compliance, thereby reducing their effectiveness. In addition, we find that general elections and frequent changes in government reduce compliance, whereas economic adjustment programmes contribute positively to countries' compliance with fiscal targets. The findings bear critical policy implications against the backdrop of the current review of the European fiscal framework.

2 June 2021
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DDDimitrios Dimitriou
Dimitrios Dimitriou
ANASTASIOS PAPPASANASTASIOS PAPPAS
ANASTASIOS PAPPAS
TKThanassis Kazanas
Thanassis Kazanas
DKDimitris Kenourgios
Dimitris Kenourgios

1 January 2025 in National Accounting Review
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ANASTASIOS PAPPASANASTASIOS PAPPAS
ANASTASIOS PAPPAS
AGApostolos Gkrammis
Apostolos Gkrammis
This study investigated the impact of minimum wage policies on unemployment across 21 European Union (EU) member states from 2000 to 2023. Using panel data econometrics with fixed effects and dynamic GMM estimators, we analyzed the relationship between lagged minimum wage levels and labor market outcomes, including total unemployment, employment rates, and youth/low-skilled unemployment. Our findings revealed a statistically significant but economically modest positive effect of minimum wage increases on unemployment, consistent with neoclassical theory. Higher minimum wages were also associated with reduced employment rates and higher unemployment among youth and low-skilled workers. Robustness checks confirmed these results, addressing endogeneity and persistence in unemployment dynamics. The study highlights a policy trade-off: While minimum wage hikes may marginally increase unemployment, their social benefits (e.g., poverty reduction) could justify such measures. Policymakers in the EU must weigh these modest labor market distortions against broader equity goals.

16 November 2024
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YIYiorgos Ioannidis
Yiorgos Ioannidis
DGDimitris Giakoulas
Dimitris Giakoulas
ANASTASIOS PAPPASANASTASIOS PAPPAS
ANASTASIOS PAPPAS