Dr. Nikolaos Antonakakis

Current Position:
Head of Department
Associate Professor of Economics
Area Coordinator for Economics

Country of Origin:
Greece

E-Mail:
nikolaos.antonakakis[at]webster.ac.at

Courses Taught at Webster

Undergraduate Courses

  • ECON 2020 Principles of Microeconomics
  • ECON 2030 Principles of Macroeconomics
  • ECON 3020 Intermediate Macroeconomics
  • ECON 3200 Money & Banking
  • ECON 3720 International Trade & Finance

Graduate Courses

  • BUSN 6120 Managerial Economics
  • BUSN 6140 Business Research Analysis
  • FINC 5860 Institutions and Financial Markets

Education

  • Ph.D. in Economics (University of Strathclyde, 2010)
  • M.Sc. in International and Financial Economics (University of Strathclyde, 2006)
  • B.Sc. in Economics (Athens University of Economics and Business, 2005)

Backgrounds and Facts

Dr. Nikolaos Antonakakis is an Associate Professor of Economics and Head of Department of Business and Management at Webster Vienna Private University, as well as a Visiting Fellow at the University of Portsmouth. He had previously held a position of Assistant Professor of Economics at the Vienna University of Economics and Business (WU Wien) and at the Johannes Kepler University in Austria, and Senior Lecturer in Economics and Finance at the University of Portsmouth. He holds a Ph.D. in Economics and an MSc in International and Financial Economics from the University of Strathclyde, and a BSc in Economics from Athens University of Economics and Business (AUEB). He is an interdisciplinary researcher with a focus, among others, on International Macroeconomics and International Finance, European Integration, Applied Econometrics, Health Economics, Energy Economics and Tourism Economics. Nikolaos has been named by Thomson Reuters as in the top one per cent of scholars worldwide in 2016 for citations in economics. He has published articles in widely renowned journals, including Economics Letters, Journal of International Financial Markets, Institutions and Money, International Review of Financial Analysis, Energy Economics, The Manchester School, Southern Economic Journal, Physica A: Statistical Mechanics and its Applications, The Quarterly Review of Economics and Finance, Applied Economics, Economic Modelling, Applied Financial Economics, Social Science & Medicine, Annals of Tourism Research, Economic Systems, Social Indicators Research, Applied Economics Letters, International Finance, Journal of Real Estate and Portfolio Management, International Economic Journal, Economic Systems and Empirica. His research has received a lot of attention from internationally renowned media, such as The Guardian, Forbes Magazine, New York Post, CNBC, Newsweek Magazine, Russia Today, Daily Express, ORF Science, Die Presse, derStandard and the Irish Times. Nikolaos has received several awards such as, the Neil Rackham Best Research Dissemination Award (from the University of Portsmouth), 7 times the Top-Journal-Article-Award (from WU), the Research Excellence Framework (REF) Award from the UK higher Education and the Outstanding Reviewer Award (from the Energy Economics journal). Nikolaos has been a Scientific Advisor and Co-investigator in several OeNB projects totalling €300,000. He has been invited to various international conferences: i) as a ‘private expert’ at the 6th Eurostat Colloquium on “Modern Tools for Business Cycle Analysis: The Lessons from Global Economic Crisis”, ii) participated in a round table (panel discussion) as the main discussant about the “Future of the Euro” at the University of Linz, iii) in a panel discussion as main discussant about “Griechenland Ende oder Wende? (Greece - End or Turn?)” at WU, and iv) has been invited as a ‘young econometrician’ at the SIRE Econometrics Workshop on “Advanced Econometric Modelling for Finance” along with illustrious econometricians such as Hasem Pesaran, Paolo Zafaroni, Valentina Corradi and Rod McCrorie. He is also a regular reviewer in various international academic and respected peer-reviewed journals. Nikolaos is also an Associate Editor of Journal of Economic and Financial Modelling, Editorial Board Member of Journal of Empirical Economics, Tourism and Travelling and Editorial & Review Board Member of Marmara Journal of European Studies.

Research Interests

He is currently interested in the following fields:

  • The transmission channels and the feedback mechanisms of the various types of uncertainty (e.g. macroeconomic, financial and policy uncertainty) and its effects on the global economic recovery, investments and exports.
  • Global business cycle interdependencies.
  • International trade synchronization dynamics.
  • Sovereign bond yields and credit default swaps nexus.
  • The effects of fiscal austerity on health.
  • The dynamic relationship between energy consumption, CO2 emissions and economic growth.
  • Tourism and economic growth interdependencies.

Selected media

His research has generated strong interest in highly renowned media:

  • “Austerity in Greece caused more than 500 male suicides, say researchers”, The Guardian, April 21, 2014.
  • “Cyprus, Greece and Portugal urged to diversify tourism offering”, Travelweekly, December 2, 2014.
  • “Austerity And Suicide: The Case of Greece”, Forbes, April 24, 2014.
  • “Economic woes in Greece lead to rash of suicides”, New York Post, April 23, 2014.
  • “Greek austerity triggered male suicide rise: Study”, CNBC, April 22, 2014.
  • “Greek austerity has caused more than 500 male suicides – report”, RT, April 21, 2014.
  • “Greece austerity caused over 550 male suicides, study finds”, The Irish Times, April 22, 2014
  • “Euro will `destabilise' Europe as it struggles with financial shocks from weaker nations”, Daily Express, April 16, 2013.
  • “Britain is not an economic island”, The Business, Summer Edition, 2013.

Selected Publications

Journal Article Publications

  1. Antonakakis, N., Chatziantoniou, I. and Floros, C. (In Press) "Dynamic Connectedness of UK Regional Property Returns". Urban Studies.
  2. Antonakakis, N., Dragouni, M., Eeckels, B. and Filis, G. (In Press) "The Tourism and Economic Growth Enigma: Examining an Ambiguous Relationship through Multiple Prisms". Journal of Travel Research.
  3. Antonakakis, N., Chang, T., Cunado, C. and Gupta, R. (In Press) "The Relationship between Commodity Markets and Commodity Mutual Funds: A Wavelet-Based Analysis". Finance Research Letters. DOI: 10.1016/j.frl.2017.03.005.
  4. Antonakakis, N. and Gupta, R. (2017) "Is Economic Policy Uncertainty Related to Suicide Rates? Evidence from the United States". Social Indicators Research 133 (2), 543{560. DOI: 10.1007/s11205-016-1384-4.
  5. Antonakakis, N., Christou, C., Cunado, J. and Gupta, R. (2017) "Convergence Patterns in Sovereign Bond Yield Spreads: Evidence from the Euro Area". Journal of International Financial Markets Institutions and Money 49, 129-139. DOI: 10.1016/j.int n.2017.03.002.
  6. Antonakakis, N., Christou, C., Filis, G. and de Gracia, F. P. (2017) "Oil Dependence, quality of political institutions and economic growth: A panel VAR approach". Resources Policy 53, 147-163. DOI: 10.1016/j.resourpol.2017.06.005.
  7. Antonakakis, N., Gupta, R. and Tiwari A. K. (2017) "Has the Correlation of Inflation and Stock Prices Changed in the United States over the Last Two Centuries?" Research in International Business and Finance 42 (C), 1-8. DOI: 10.1016/j.ribaf.2017.04.005.
  8. Antonakakis, N., Hassani, H., Silva, E. S., Filis, G. and Gupta, R. (2017) "Forecasting Accuracy Evaluation of Tourist Arrivals: Evidence from Parametric and Non-Parametric Techniques". Annals of Tourism Research 63, 112-127. DOI: 10.1016/j.annals.2017.01.008.
  9. Antonakakis, N., Chatziantoniou, I. and Filis, G. (2017) "Oil shocks and stock markets: Dynamic connectedness under the prism of recent geopolitical and economic unrest". International Review of Financial Analysis 50, 1-26. DOI: 10.1016/j.irfa.2017.01.004.
  10. Antonakakis, N., Chatziantoniou, I. and Filis, G. (2017) "Energy Consumption, CO2 Emissions, and Economic Growth: A Moral Dilemma". Renewable & Sustainable Energy Reviews 68 (Part 1), 808-824. DOI: 10.1016/j.rser.2016.09.105.
  11. Antonakakis, N., Andre, C. and Gupta, R. (2016 ) "Dynamic Spillovers in the United States: Stock Market, Housing, Uncertainty and the Macroeconomy". Southern Economic Journal 83 (2), 609-624. DOI: 10.1002/soej.12149.
  12. Antonakakis, N., Cunado, J., Gil-Alana, L.A. and Gupta, R.(2016) "Is Inflation Persistence Different in Reality?". Economics Letters 148, 55-58. DOI: 10.1016/ j.econlet.2016.09.003.
  13. Antonakakis, N. and Floros, C. (2016) "Dynamic interdependencies among the housing market, stock market, policy uncertainty and the macroeconomy in the United Kingdom". International Review of Financial Analysis 44, 111-122. DOI: 10.1016/j.irfa.2016.01.006.
  14. Antonakakis, N., Gogas P., Papadimitriou, T. and Sarantitis, G. (2016) "International Business Cycle Synchronization since the 1870s: Evidence from a Novel Network Approach". Physica A: Statistical Mechanics and its Applications 447, 286-296. DOI: 10.1016/j.physa.2015.12.029.
  15. Antonakakis, N. and Badinger, H. (2016) "Economic Growth, Volatility, and Cross-Country Spillovers: New Evidence for the G7 Countries". Economic Modelling 52 (B), 352-365. DOI: 10.1016/j.econmod.2015.08.035.
  16. Antonakakis, N., Chatziantoniou, I. and Filis, G. (2016) "Business Cycle Spillovers in the European Union: What is the Message Transmitted to the Core?". The Manchester School 84 (4), 437-481. DOI: 10.1111/manc.12101.
  17. Antonakakis, N. and Kizys, R. (2015) "Dynamic Spillovers between Commodity and Currency Markets", International Review of Financial Analysis 41, 303-319. DOI: 10.1016/j.irfa.2015.01.016.
  18. Antonakakis, N. and Collins, A. (2015) "The Impact of Fiscal Austerity on Suicide Mortality: Evidence across the `Eurozone Periphery'". Social Science & Medicine 145, 63-78. DOI: 10.1016/j.socscimed.2015.09.033.
  19. Antonakakis, N., Christophe, A. and Gupta, R. (2015) "Dynamic Co-movements between Economic Policy Uncertainty and Housing Market Returns". Journal of Real Estate Portfolio Management 21 (1), 53-60.
  20. Antonakakis, N. and Scharler, J. (2015) "Business Cycle and Financial Cycle Spillovers in the G7 Countries", The Quarterly Review of Economics and Finance 58, 154{162. DOI: 10.1016/j.qref.2015.03.002.
  21. Antonakakis, N. and Tondl, G. (2015) "Robust Determinants of OECD FDI in Developing Countries: Insights from Bayesian Model Averaging". Cogent Economics & Finance 3 (1), 1{25. DOI:10.1080/23322039.2015.1095851.
  22. Antonakakis, N., Dragouni, M. and Filis, G. (2015) "How Strong is the Linkage between Tourism and Economic Growth in Europe?", Economic Modelling 44C, 142-155. DOI: 10.1016/j.econmod.2014.10.018.
  23. Antonakakis, N., Dragouni, M. and Filis, G. (2015) "Tourism and Growth: The Times they are A-changing", Annals of Tourism Research 50, 165-169. DOI: 10.1016/j.annals.2014.11.008.
  24. Antonakakis, N. and Collins, A. (2014) "The Impact of Fiscal Austerity on Suicide: On the Empirics of a Modern Greek Tragedy". Social Science & Medicine 112, 39-50. DOI: 10.1016/j.socscimed.2014.04.019.
  25. Antonakakis, N., Chatziantoniou, I. and Filis, G. (2014) "Dynamic Spillovers of Oil Price Shocks and Economic Policy Uncertainty". Energy Economics 44, 433-447. DOI: 10.1016/j.eneco.2014.05.007.
  26. Antonakakis, N. and Tondl, G. (2014) "Does Integration and Economic Policy Coordination Promote Business Cycle Synchronization in the EU?" Empirica 41(3), 541-575. DOI: 10.1007/s10663-014-9254-2.
  27. Antonakakis, N., and Vergos, K. (2013) "Sovereign Bond Yield Spillovers in the Euro Zone During the Financial and Debt Crisis". Journal of International Financial Markets, Institutions & Money 26. 258-272. DOI: 10.1016/j.int n.2013.06.004.
  28. Antonakakis, N., Chatziantoniou, I. and Filis, G. (2013) "Dynamic Co-movements of Stock Market Returns, Implied Volatility and Policy Uncertainty". Economics Letters 120 (1), 87-92. DOI: 10.1016/j.econlet.2013.04.004.
  29. Antonakakis, N. (2012). "The Great Synchronization of International Trade Collapse". Economics Letters 117 (3), 608{614. DOI: 10.1016/j.econlet.2012.07.041.
  30. Antonakakis, N. and Scharler, J. (2012). "Has Globalization Improved International Risk Sharing?", International Finance 15 (2), 255-266. DOI: 10.1111/j.1468-2362.2012.01304.x.
  31. Antonakakis, N. (2012). "Business Cycle Synchronization during US Recessions since the Beginning of the 1870s", Economics Letters 117 (2), 467-472. DOI: 10.1016/j.econlet.2012.06.034.
  32. Antonakakis, N. (2012). "Exchange Return Co-movements and Volatility Spillovers Before and After the Introduction of Euro", Journal of International Financial Markets, Institutions & Money 22 (5), 1091-1109. DOI: 10.1016/j.int n.2012.05.009.

Chapters in Book Publications

  1. “Efficiency, Proportionality and Member States' Power in the EU Council of Ministers” (with Harald Badinger and Wolf H. Reuter), in “Routledge Handbook of the Economics of European Integration”, forthcoming in 2016, Edited by Harald Badinger and Volker Nitsch. Routledge.

Funding

He has been a Co-Investigator in the following projects:

  • “From Rome to Lisbon: Power of EU Member States and the EU's Capability to Act in Light: An Interdisciplinary Assessment.” Anniversary Fund, Austrian Central Bank (OeNB), project number: 14028, duration: 05/2011-11/2012. Amount: €120,000.00.
  • “Does Integration and Economic Policy Coordination Promote Business Cycle Synchronization in the EU?” (joint with Gabriele Tondl). Study under the Consortium Project “The Impact of the Single Internal Market on Cohesion: Implications for Cohesion Policy, Growth and Competitiveness” (head: London School of Economics), funded by the European Commission, DG Regio. Project number 2010.CE.16.B.AT.006, local Principal Investigator: Gabriele Tondl. Duration: 2010-2011. Amount: €64,840.00.
  • “Do Determinants of FDI to Developing Countries Differ among OECD Countries? Insights from a Bayesian Panel Data Approach“, study under the Consortium Project “EU Foreign Direct Investment in Latin America”, funded by the Austrian Central Bank (OeNB), project number: 11701, duration: 2006 – 2010. Principal Investigator: Gabriele Tondl. Amount €92,000.00.

And scientific advisor in:

  • “Macroeconomic Imbalances and Business Cycle Synchronization in the EU." Anniversary Fund, Austrian Central Bank (OeNB), duration: 2014-2015. €20,000.00.

Presentations

Nikolaos has been invited to various international conferences: i) as a ‘private expert’ at the 6th Eurostat Colloquium on “Modern Tools for Business Cycle Analysis: The Lessons from Global Economic Crisis”, ii) participated in a round table (panel discussion) as the main discussant about the “Future of the Euro” at the University of Linz, iii) in a panel discussion as main discussant about “Griechenland Ende oder Wende? (Greece - End or Turn?)”, at Vienna University of Economics and Business, and iv) has been invited as a ‘young econometrician’ at the SIRE Econometrics Workshop on Advanced Econometric Modelling for Finance along with illustrious econometricians such as Hasem Pesaran, Paolo Zafaroni, Valentina Corradi and Rod McCrorie.

Achievement and Recognition

Nikolaos has been awarded seven times the “Top-Journal-Article Award” by the Vienna University of Economics and Business since 2012 and is included in the 2014 Research Excellence Framework (REF). In 2014, He was awarded the ‘Neil Rackham Best Research Dissemination Award’ by the University of Portsmouth, Portsmouth Business School for his publication in Social Science & Medicine journal. Moreover, he has been the reviewer of the ‘Macroeconomics, Global Edition, Pearson’ and ‘Economics, Global Edition, Pearson’ textbooks by Daron Acemoglu, David Laibson and John List, and of various renowned international academic peer-reviewed journals.

Memberships

Nikolaos is a Fellow at the Euro Area Business Cycle Network (EABCN), member of the International Association for Applied Econometrics (IAAE), Royal Economic Society (RES), European Economic Association (EEA), European Finance Association (EFA), Western Economic Association International (WEAI), Canadian Economics Association (CEA), Austrian Health Economics Association (ATHEA) and the World Economics Association (WEA).

External Links

Dr. Nikolaos Antonakakis @ IDEAS
Dr. Nikolaos Antonakakis @ Google Scholar
Dr. Nikolaos Antonakakis @ Research Gate
Dr. Nikolaos Antonakakis @ Linkedin
Dr. Nikolaos Antonakakis @ ORCID

Dr. Antonakakis' Full CV