Home Address : 18, Heracleous St. 145 64 - , Phone: 80 70 545, 80 78 114 Fax: 80 70 545, Mobile: 0972-236444

Office Address: 76, Patission St. Athens University of Economics and Business Athens - Greece Phone: 8223545 & 8203338 Fax: 8203320 & 8203338 E-mail: [email protected]

Current Position: Professor of Economics, Athens University of Economics and Business, Department of Economics Date & Place Of Birth: January 29, 1940, , Greece

Nationality: Greek

Marital Status: Married, two children

Military Service: Second Lieutenant, Greek Army, 1963-1965

Education: New York University, Graduate School of Arts and Science, Department of Economics: Ph.D., 1972 New York University, Graduate School of Arts and Science, Department of Economics: MA, 1969 Athens School of Economics and Business Science, upper 5 per cent of the class: BA, 1963 Six years of high school, Piraeus School of Commerce, Piraeus, Greece, 1952-1958.

Social Activities: Founding member and president of the Adam Smith Club of Greece, (1987-1991), which in 1992 evolved in what became known all over Greece as Liberal Forum.

Specialization: Microeconomic theory, Industrial Organization, Managerial Economics, Cost-benefit Analysis, Capital theory.

Academic & Research Experience (A): 1979-to date, Professor of Economics, Athens University of Economics and Business, Athens, Greece. 1975-1978, Senior Research Economist, Bank of Greece, Athens, Greece. 1974-1975, Research Associate, National Bureau of Economic Research and Assistant Professor, New York University. 1973-1974, Associate Research Scientist, New York University. 1972-1973, Assistant Professor, Fordham University, New York. 2

1971-1972, Instructor, Department of Economics, New York University. 1968-1970, Research Fellow, Department of Economics, New York University. 1965-1967, Junior Economist, Center of Planning and Economic Research, Athens, Greece...... (B): Co-founder and Co-editor of Greek Economic Review, 1979-1986. Associate editor of Greek Economic Review, 1986-to date. Member, Advisory Board, SPOUDAI, 1991- Member, Institute of Economic Policy Studies, Athens, 1992-

Offices Held: Director, Athens Ph.D. Program, established and operated jointly by the Economics Department s of the Athens University of Economics and Business and the National and Kapodistrian University of Athens, 1999-2001. Member, Advisory Board, Institute of Economic Policy Studies, Athens, 1992- Advisor, National Telecommunications Authority for, 1996-1998. Member, Board, Center for Research in Politics and Education, Athens, 1990-1995. Member, Council of Economic Advisors, 1991-1993. Member, National Advisory Board on Science and Technology, 1991-1993. Advisor, Minister of Industry, Energy and Commerce, 1991-1992. Member, Board , National Center for Social Research, 1991-1992.

Directorships: GPG Medical Technology S.A., A Company in the Glaxowelcome Group, 1998- Member of the Board, Macedonian Spinning, S.A., 1992-1995. Member of the Board, P. BITROS, S.A., 1990- President and General Manager, ITCO S.A., 1989-1990. Member of the Board, Nestle Hellas S.A., 1979-1981. Professional Associations: American Economic Association Institute of Economic Policy Studies Multinational Finance Society Honors and Awards: Elector for the Nobel Prize in Economics, 1997- Founders Day Award, 1973, New York University. Funded Research Activities: Ministry of Education, 1998: a) “Joint Doctoral Program of the Economics Departments of the Athens School of Economics and Business and the National and Kapodistrian University of Athens”, (Drs. 280 million), and, b) “Evaluation of the Effectiveness of University Departments in Economics, Business Administration and Related Fields of Knowledge in Greece”, (Drs. 35 million). National Telecommunications Committee, 1997 "Guidelines for costing and tariffing of telecommunication services" (Drs. 40.9 million). General Secretariat for Research and Technology, 1996, "Competition, Ownership, and Economic Efficiency", (Drs. 8 million). 3

………………………………………………………………………… Ministry of Research and Technology, 1985, "Taxes on Consumer Durables and the Economy: The Case of Passenger Cars in Greece" (Drs. 2.5 million). …………………………………………………………………………. Ford Foundation ($28.000), 1979, "The Role of Trade Credit in the Diffusion of Monetary Disturbances Among Countries"

Investment Feasibility Studies: Over 20 feasibility studies in the fields of manufacturing, communications, and transportation.

Publications: A. Books and Monographs 1. Essays in Honour of Emmanuel Drandakis (London: Edward Elgar Publishers, forthcoming), Jointly as editor with Yannis Katsoulakos. 2. In Search of Hope for the Greek Economy, Institute of Economic Policy Research, 1992, Jointly as editor with T. Kollintzas, in Greek.. 3. Microeconomic Theory, volume III, dealing with the theory of General Economic Equilibrium, prepared jointly with Professors E. Drandakis and N. Baltas, 1995, in Greek. 4. Essays in Memory of Pindaros Christodoulopoulos, Athens: Papazisis Press, 1987), Jointly as editor with C. Davos. 5. Price Controls and their Consequences (Athens: Institute of Economic and Industrial Studies, 1985), in Greek. 6. Selected Economic Writings of Fritz Machlup (New York: New York University Press, 1976). B. Translations 1. Managerial Economics: Theory, Applications and Cases, by Edwin Mansfield, W. W. Norton & Company, 1996. Two Volumes in Greek. Volume I: Managerial Economics: Theory, Athens, Benou Publishers, 1998. Volume II, Managerial Economics: Problems and True Cases, Benou Publishers, Forthcoming. 2. Microeconomic Analysis: Readings from the International Bibliography (Papazisis Publishers, 1984), Vol. A and B (in Greek). C. Contributions in Books and Edited Volumes 1 “A General Equilibrium Theory of real Capital”, in George C. Bitros and Yannis Katsoulakos (Eds.), Essays in Honour of Emmanuel Drandakis (London: Edward Elgar Publishers, forthcoming), with Elias Flytzanis. 2 "Competition, Ownership and Economic Efficiency", in Demopoulos, G., Korliras, P., and Prodromidis, K., Essays in Honour of Professor Reginos Theocharis (Athens: Sideris Publishers, 1998). 3 "Is There an Inflation-Productivity Trade-off? Some Evidence from the Manufacturing Sector in Greece", in Christodoulou, P. et al.(Eds.), Essays on European Law, Economics and Business: A Volume in Honour of Professor Demosthenes Crimbas, Athens University of Economics and Business, 4

Department of Business Administration, Athens, 1997, pp. 259- 277. 4 "Social and Private Costs of Tax Induced Road Accidents", in G. Drakos (Ed.), Essays in Honour of Athanasios Kanellopoulos, 1995. 5 "Structural Economic Policies: the Problem, the available Solutions and the Optimal Choices", in Alogoskoufis, G., Kollintzas, T., and Provopoulos, G., Essays in Honour of Constantine G. Drakatos (Athens: Papazisis Publishers, 1994), in Greek. 6 "The Link between Trade Credit and Monetary Policy Revisited" in Bitros, G. C. and Davos, C., (Eds.) Essays in Memory of Pindaros Christodoulopoulos, (Papazisis Press, Athens, 1987). 7 "Difficulties and Strategy of Privatization in Countries like Greece", Proceedings to an International Conference on Privatization, held in 1987 in Athens, Greece, Institute of Economic and Industrial Studies, (in Greek). 8 "Research and Development Expenditures and Labor Productivity at the Firm Level: A Dynamic Model" in B. N. Vaccara and J. Kendrick (eds.) Productivity and Research and Development, National Bureau of Economic Research, The University of Chicago Press, 1975, pp. 387-417 (with M. I. Nadiri). 9 Introduction in the Selected Economic Writings of Fritz Machlup (New York: New York University Press, 1976). D. Contributions in conference volumes 1. "Structural Policies to Unwind the Greek Fiscal Tangle", in Skouras, T. S. (ed.) Issues in Contemporary Economics, Vol. 5: The Greek Economy: Economic Policies for the 1990s (London: The Macmillan Press Ltd., 1992), pp. 23-29. 2. "Presentation" of the papers that were delivered in a symposium held in Athens on "Free Market and Social Justice", Journal des Economistes et des Edudes Humaines, Vol. IV, 1993, pp. 231-234. 3. "Restructuring for Development in Sectors like Telecommunications", in Kintis, A. (Ed.), The Present and the Future of the Greek Economy. (Athens: Gutenberg, 1997, pp. 197-223). E. Official Reports 1. Evaluation of the Effectiveness of University Departments in Economics, Business Administration and Related Fields of Knowledge in Greece”, submitted to the Center of Research in Education, Ministry of Education, Athens, Greece, 2000. 2. “Competition, Ownership, and Economic Efficiency”, submitted to the General Secretariat for Research and Development in Greece, 1999. 3. “Principles of Costing and Tariffing Telecommunication Services”, submitted to the National Telecommunications Authority, 1998, (in association with Professor G. Venieris and Sandra Coen). 4. "Competition and Market Structure in Greek Telecommunications", submitted by the European Telecommunications Organisation (ETCO) to the Greek Government, 1994. 5

5. "Specialised Credit Institutions: Problems of Modernisation and Development”, submitted to the Harissopoulos Committee for the Modernisation of the Greek Banking System, Athens, July 1979. 6. "Effects of Innovations on the Demand for and Earnings of Productive Factors", submitted to the National Science Foundation, USA, 1976, with Fritz Machlup. 7. "Principles of Economics: Some Guidance on the Productivity of Alternative Curricula", submitted to the Council of Economic Education, USA, 1974, (with Edward Matluk). F. Journals I. Major Journals 1. "Measuring Product Prices under Conditions of Quality Change: The Case of Passenger Cars in Greece", Journal of Industrial Economics, Vol. XXXVII, 1988, pp. 161-186. 2. "The Fungibility Factor in Credit: Reply to Leite and Zabeh", Oxford Economic Papers, Vol. 36, (1984), pp. 494-498. 3. "The Fungibility Factor in Credit and the Question of the Efficacy of Selective Controls", Oxford Economic Papers, Vol. 33, (November 1981), pp. 459-477. 4. "Neo-classical Theory of Trade Credit: A Critique and a Reformulation", Econometrica, Vol. 47, (January 1979), pp. 199-202. 5. "A Reply to A Note on the Variability of the Replacement Investment Capital Stock Ratio", The Review of Economics and Statistics, Vol. 59 (August 1977), pp. 510-513 (with Harry H. Kelejian). 6. "A Statistical Theory of Expenditures in Capital Maintenance and Repair", Journal of Political Economy, Vol. 84, (October 1976), pp. 917-936. 7. "A Model of and Some Evidence on the Interrelatedness of Decisions Underlying the Demand for Capital Services", European Economic Review, Vol. 7, 1976, pp. 377-393. 8. "An Optimal Stochastic Control Approach to Factor Demand" International Economic Review, Vol. 17, (October 1976), pp. 701-717 (with Harry H. Kelejian). 9. "On the Variability of the Replacement Investment Capital Stock Ratio: Some Evidence from Capital Scrappage", The Review of Economics and Statistics, Vol. LVI (August 1974), pp. 270-278 (with Harry H. Kelejian). II. Minor Journals 1. “Another look at the inflation-productivity trade-off”, (with E. Panas), forthcoming, Indian Journal of Applied Economics, 2002. 2. "Is There an Inflation-Productivity Trade-off; Some Evidence from the Manufacturing Sector in Greece", (with E. Panas), forthcoming, Applied Economics, 2001. 3. "Demand for Product Attributes: the Case of Passenger Automobiles in Greece", International Journal of Transport Economics, Vol. XVII, November 1990, (with E. Panas). 4. "Market Structure and Competition in Greek Telecommunications", Studies in Economic Policy, Institute of Economic Policy Studies, Volume 3, 1998, pp. 49-73. 6

5. "Foreign Direct Investment in Manufacturing: A Note", Greek Economic Review, Vol. 9, 1987, pp. 108-112. 6. "Trade Credit and the Transmission of International Disturbances in a Small Open Economy Context", Greek Economic Review, Vol. 6 (April 1984), pp. 36-54. 7. "Cash Management and the Demand for Money with Non-Linear Transfer and Opportunity Costs", Spoudai, Vol. 26, (September 1976), pp. 486-502. 8. "Effects of Innovation on the Demand for and Earnings of Productive Factors. A Brief Survey" Proceeding to the Eastern Economic Association Meetings, 1974. 9. "Replacement of the Durable Inputs of Production", The American Economist, Vol. XVI (Spring 1972), pp. 36-54. E. Published comments in conferences 1. "Protection of buyers of shares, information and self-regulation”, in Stock Exchange and Protection of Share Buyers, Research Reports No. 9, Sakoulas Publishers, Athens, 2001, pp. 63-67, (in Greek). 2. "Comments on the limits of the market", Journal des Economistes et des Edudes Humaines, Vol. IV, 1993, pp. 231-234. 3. "Comments" in the proceedings to the conference organized by the Athens College Alumni Association "In Search of a New Economic Policy for Growth-Distribution", 1993, pp. 240-244. F. Long essays in daily newspapers and periodicals I. Greek Daily Newspapers and periodicals1 1."The state in the new self co-ordinating order" Ekonomikos Tachidromos, June 18, 1998, pp. 61/VΙΙ—63/IX. 2."The Fundamental Causes of Government Failure", Ekonomikos Tachidromos, June 12, 1997, pp. 43/VII-47/XI. 3 "The Contradictions in Economic Policies", in the annual edition, The Greek Economy, EPILOGI, pp. 100-104, (with T. Kollintzas). 4. "Why it pays to abolish direct taxation”, TO KERDOS, 28/1/1996. 5. "Debt Crisis and Privatization in Greece", contribution to a round- table discussion carried by H.KATHIMERINH, in February 21 and 22, 1995, pp. 12 and 22, respectively. 6. “State Banks and the Clotting of the Greek Economy”, XRHMA, 16 June 1994. 7. "If we want Stabilization we need Growth", TO KERDOS, March 11, 1991 (with T. Kollintzas). 8. "Public Enterprises with Private like Management: Feasible Objective or Rhetorical Concept? EXPRESS, November 24, 1991. 9. ."From the Crisis of the Economy to the Crisis also of Economic Policy? Epicentra, Vol. 64, December 1990. 10. "Countertrade as an Instrument of Economic Policy", Ekonomikos Tachidromos, December 1989, pp. 36-41. 11. "Who is a Liberal: An Answer to an Old but Contemporary Question", Epopteia, Vol. 14,March 1989, pp. 87-89.

1 Recorded so far. 7

12. "Privatization: A Policy out of the Impasse", Epicentra, vol. 59, November 1989, pp.14-15, (with K. Prodromidis). 13. "Liberalism and Privatization", ΤΟ ΒΗΜΑ, July 12, 1987. 14. "Price Controls: it pays to abolish them", Ekonomikos Tachidromos, April 1986, pp. 23-30. 15. “ Price Controls Views and Recommendations for an Alternative Policy", Epicentra, Vol. 47, November 1985, pp. 151-157. 16. "The Good Samaritans and the Market", Elefteri Koinonia, Vol. A (March-April 1985), pp. 276-287. 17. "Technological Revolution in Communications and the Regulatory Role of the State", Epicentra, Vol. 57, April 1985, pp. 55-59. 18. "Profitability Crisis in Greece: Fact or Fancy?" Ekonomikos Tachidromos, 1981. 19. "Economic Research, Economic Policy and the Value of Good Statistical Information", Ekonomikos Tachidromos, February 1978. 20. "Market Structure in Developing Countries", Economicos Tachidromos, June 1977. 21. "Views, Conjectures and Recommendations for the Structural Problem of the Economy", in the annual edition, The Greek Economy, EPILOGI, pp. 68-70.

II. Short essays Please consult “Links”

Public Debates:2 1. “Globalization: fact or fancy? A debate with his holiness Archbishop Christodoulos of Greece and other academics, May 2001. 2. “The market and the environment”, A debate organized by the Liberal Party in Greece, November 2000. ……………………………………………………………………

Interviews:3 1. “National Herald”, newspaper in Melbourne, Australia. Interview on Globalization and other issues published I two parts in May 2001. 2. “Views on reforming higher education”, given to the Greek periodical Economic and Social Review and published in January 2001. …………………………………………………………………………

3. "Greece should seek the solution of its economic problems through the private sector", given to the monthly periodical Banks and Bankers, January 1994, pp. 22-29. 4. "Nominal convergence in 10 years, real in many more" given to newspaper EXPRESS and published in the January issue Economy 1993. 5. Frequent interviews on TV and Radio stations.

2 Only the most recent because the rest are too many to mention 3 Recorded so far. 8

Letters to the Editor:4 1. "On the Neo-classical Economic Theory", Ekonomikos Tachidromos, February 5, 1976. 2. "Of Cyprus and Greek-Turkish Negotiations", New York Times, September 3, 1974.

Discussion Papers: 1. “A Consistent Fixed-Effects Approach to Economic Efficiency Measurement”, Mimeo, Athens University of Economics and Business, Department of Economics, 2000 (with Efthimios Tsionas). 2. "Economic Replacement Theory Recovered and Extended", Mimeo, Athens University of Economics and Business, Department of Economics, 2000 (with Elias Flytzanis). 3. "Firm Ownership and Economic Efficiency", Mimeo, Athens University of Economics and Business, Department of Economics, 2000. 4. "On the Impossibility of Changing the Quality of Capital in a Stationary Economy", University of Bielefeld, Department of Economics, 1993. 5. "Determinants of Expenditure in Automobile Maintenance and Repair: Some Evidence from Greece", Athens University of Economics and Business, Department of Economics, 1990. 6. "Car Taxes and Road Accidents in Greece: Some Tentative Findings", Athens University of Economics and Business, Department of Economics, 1990.

Research under way: 1. "Taxes, Consumer Durables and the Economy: The Case of Passenger Cars in Greece". 2. "Competition, Ownership and Economic Efficiency". 3. “Determinants of unemployment in Europe” with Kyprianos Prodromidis

4 Recorded so far.