Can green QE reduce global warming?, Foundation for European Progressive Studies (FEPS), 2018 (with M. Nikolaidi and G. Galanis).
The idea of a green QE (quantitative easing) programme has gained a lot of traction over the last years. It has been argued that by implementing such a programme central banks could contribute to the fight against climate change. Our recent research shows that a green QE programme that involves the purchase of green corporate bonds can indeed reduce global warming. The programme will be more effective if green investment responds strongly to changes in the interest rates. Yet, green QE cannot by itself prevent severe climate change: even with optimistic assumptions about the role of interest rates, the path of global atmospheric temperature is not very likely to change substantially by such a programme. Many other types of environmental policies and strategies are necessary to keep global warming close to 2oC.
A new ecological macroeconomic model: analysing the interactions between the ecosystem, the financial system and the macroeconomy, New Economics Foundation, 2015 (with G. Galanis and M. Nikolaidi).
Our economy, environment and financial system cannot be viewed in isolation: each interacts with the other. However, the current models that inform policy making lack a clear understanding of the links between these systems. This is a significant gap. It’s time to develop a new modelling framework that can analyse these links in an integrated way.
‘How can the Greek trade balance improve?’, Policy Brief 5, Observatory of Economic and Social Developments, Labour Institute, Greek General Confederation of Labour, 2012 (with M. Nikolaidi; in Greek).
‘The macroeconomic assumptions of the austerity programme in Greece: are they realistic?’, Policy Brief 2, Observatory of Economic and Social Developments, Labour Institute, Greek General Confederation of Labour, 2011 (with M. Nikolaidi; in Greek).
‘The paradox of social policy in Greece: why the rise in social protection expenditures did not reduce poverty’, Policy Brief 1, Observatory of Economic and Social Developments, Labour Institute, Greek General Confederation of Labour, 2011 (with C. Papatheodorou; in Greek).