INTERNATIONAL SYMPOSIUM ON

ECONOMIC THEORY, POLICY AND APPLICATIONS

August 21-23, 2006, Athens, Greece

PROGRAM

Organized by the

ATHENS INSTITUTE FOR EDUCATION AND RESEARCH (AT.IN.E.R.)

Under the Auspices of the Greek Economic Chamber

Conference Venue: Institute of Education and Training of the Economic Chamber of Greece, 9 Amvrosiou Frantzi Street, 117 43 Athens. The venue is close to the metro station SYGGROY-FIX. From Syntagma Square is 20 minutes walking.

Organizing AND SCIENTIFIC Committee

· Dr. Gregory T. Papanikos, President and Director, ATINER.

· Dr. Christos Sakellariou, Head, Economics Research Unit, ATINER & Associate Professor, Nanyang Technological University, Singapore.

· Dr. Angelos Tsaklanganos, Honorary President, ATINER & Emeritus Professor, Department of Economics, Aristotle University of Thessalonica, Thessalonica, Greece.

· Dr. Vasilios Filios, Head, Accounting & Finance Research Unit, ATINER & Associate Professor, University of Ioannina, Agrinio, Greece.

· Dr. Cleopatra Veloutsou, Head, Marketing, Research Unit, ATINER & Senior Lecturer in Marketing, Department of Business and Management, University of Glasgow, Scotland.

· Dr. Niki Kyriakidou, Academic Member, ATINER & Lecturer, Leeds Business School, U.K.

· Dr. Panagiotis Petratos, Head, Computer Research Unit, ATINER & Assistant Professor of Computer Information Systems, California State University, Stanislaus, USA.

· Dr. John Roufagalas, Professor of Economics, Department of Economics, Radford University, USA.

· Dr. Peter Koveos, Academic Member, ATINER & Professor of Finance, Syracuse University, USA.

· Dr. Dimitrios N. Koufopoulos, Head, Management Research Unit, ATINER & Lecturer & Director of Post Graduate Studies, Brunel University, UK.

· Dr. David A. Frenkel, Head, Law Research Unit, ATINER & Professor, Head of Law Area, Department of Business Administration, School of Management, Ben-Gurion University, Beer-Sheva, Israel.

· Dr. Sofia Daskou, Academic Member, ATINER & Assistant Professor, The American College in Greece.

Administration

Fani Balaska, Thomas Papanikos, Sylia Sakka

CONFERENCE PROGRAM

(The time for each session includes a 10 minutes coffee break)

Sunday, August 20^th, 2006

18:30-20:00 Pre-Registration at the Conference Hotel (Metropolitan Hotel, 385 Syngrou Avenue)

Monday, August 21^st, 2006

07:30-08:00 Registration

08:00-09:30 Monday, August 21^st, 2006

Session I: Mathematical and Quantitative Methods (Room A) Chairperson: Dr. Niki Kyriakidou, Academic Member, ATINER & Lecturer, Leeds Business School, U.K.	Session II: Industrial Organization (Room B) Chairperson: Dr. Cleopatra Veloutsou, Head, Marketing, Research Unit, ATINER & Senior Lecturer in Marketing, Department of Business and Management, University of Glasgow, Scotland.	Session III: Financial Economics (Room C) Chairperson: Dr. Vasilios Filios, Head, Accounting & Finance Research Unit, ATINER & Associate Professor, University of Ioannina, Agrinio, Greece.
Sekeris, P., Ph.D. Student, University of Namur, Belgium. Compelling in the Shadow of Holding Power. Baltaduonis, R., Ph.D. Student, University of Connecticut, USA. Efficiency in Deregulated Electricity Markets: Offer Cost Minimization vs. Payment Cost Minimization Auction. Kallianiotis, J., Professor, University of Scranton, USA & Petsas, I., Assistant Professor, University of Scranton, USA. The U.S. and the E.U. Interdependence. Bennouri, M., Assistant Professor, HEC Montreal, Canada. Risk Aversion and Full Rent Extraction in Mechanism Design.	Hussain, S.A., Assistant Professor, Basbon College, USA. An R&D Race with Uncertain Technical Feasibility and Timing of Innovation. (Monday, 21st August, morning) Smith, S., Lecturer, Liverpool John Moores University, UK, Coskeran, T., Lecturer, Liverpool John Moores University, UK & Phillips, P., Professor, University of Northampton, UK. An Economic Analysis of the Survival of Waste Minimisation Clubs. Gore, A., Researcher, University of Oulu, Finland & Kess, P., Professor, University of Oulu, Finland. Developing a Perspective on Tackling Post Implementation Issues in ERP Systems.	Vasiliauskaite, A., Head, Kaunas University of Technology, Lithuania & Levisauskaite, K., Head, Kaunas Vytautas Magnus University, Lithuania. Investigation of Loans Portfolio Structural Changes in Lithuanian Banking Sector Under Conditions of Growing Economy. Altay, E., Research Assistant, Istanbul University, Turkey. Autocorrelation in Capital Markets: Feedback Trading in Istanbul Stock Exchange. Fernandez Serrano, J.L., Estadistico Facultativo, Instituto Nacional de Estadistica (INE), Spain. Arbitrage Effects and Changes in Regimes for Dow Jones STOXX^SM Index Markets. Wynarczyk, P., Reader and Subject Field Leader in Finace, University of East London, UK. A O Hirschman: A Critical Appreciation.

09:30-11:00 Monday, August 21^st, 2006

Session IV: Mathematical and Quantitative Methods (Room A) Chairperson: Kallianiotis, J., Professor, University of Scranton, USA	Session V: Macroeconomics and Monetary Economics (Room B) Chairperson: Sekeris, P., Ph.D. Student, University of Namur, Belgium.	Session VI: Other Special Topics-Cultural Economics (Room C) Chairperson: Hussain, S.A., Assistant Professor, Basbon College, USA.
Wilson, S., Assistant Professor, University of Regina, Canada. Public Pension Sustainability Options. Sinha, P., Reader, University of Delhi, India. Hierarchical Bayes Approach to Prediction in a Regression Model. Stewart, C., Senior Lecturer, London Metropolitan University, UK. Spurious Correlation of I(0) Regressors in Models with an I(1) Dependent Variable. Thams, A., Ph.D. Student, Free University of Berlin, Germany. Fiscal Policy Effects in the European Union. Nikitopoulou-Sklibosios, C., Lecturer, University of Technology of Sydney, Australia, Platen, E., Professor, University of Technology of Sydney, Australia & Bruti-Liberati, N., Ph.D. Student, University of Technology of Sydney, Australia. Heath - Jarrow - Morton Equation for Jump-Diffusion under the Benchmark Approach.	Saludjian, A., Associate Professor, University Paris 13, France. From Business Cycles to Macro-Economic Volatility: The Contributions of M. Kalecki. Okten, Z., Associate Professor, Mustafa Kemal University, Turkey. Reforming International Financial System: Post Keynesian Perspective. Spiliopoulos, L., Ph.D. Student, University of Sydney, Australia. What Determines Macroeconomic Volatility? Abad, P., Lecturer, University of Barcelona, Spain & Benito, S., Lecturer, University of Barcelona, Spain. A Parametric Model to Estimate Risk in a Fixed Income Portfolio. An Application to Calculate Value at Risk. Athanasopoulou, M.E., Ph.D. Student, University of Southern California, USA. European Central Bank’s Inflation Targeting and Bond Yields. (Monday 21st August, morning)	Brinca, P., Associate Researcher, University of Coimbra, Portugal. Are Kant's Categorical Imperative and Instrumental Rationality Compatible? The Case for the Prisoner’s Dilemma. Hugl, U., Assistant Professor, University of Innsbruck, Austria. Human Implants: Actual Developments and Connected Aspects of Person’s Privacy. Gottlieb, D., Lecturer, Bank of Israel and Ben-Gurion University, Israel & Eliraz, Y., Economic Consultant, Expert on education and job training among Ultra-Orthodox Jews, Israel. Poor and Trapped in Ideology: The Haredi Population in Israel. Travaglini, G., Researcher, University of Roma, Italy. Modern and Ancient Cultural Capital. A Worldwide Cross-Sectional Analysis.

11:00-12:45 Monday, August 21^st, 2006

Session VII: Public Economics (Room A) Chairperson: Hugl, U., Assistant Professor, University of Innsbruck, Austria.	Session VIII: Macroeconomics and Monetary Economics (Room B) Chairperson: Athanasopoulou, M.E., Ph.D. Student, University of Southern California, USA.	Session IX: Labor and Demographic Economics (Room C) Chairperson: Nikitopoulou-Sklibosios, C., Lecturer, University of Technology of Sydney, Australia
Barthel, J., Researcher, University of Berlin, Germany. Environmental Policy in Dynamic Models: The Impact of the Elasticity of Substitution if Consumers Pollute. Vasconcelos Ferreira, L., Associate Professor, University of Porto, Portugal. Employment and Social Precarity. Katsaiti, M-S., Ph.D. Student, University of Connecticut, USA, Shaw, P., Ph.D. Student, University of Connecticut, USA & Jurgilas, M., Ph.D. Student, University of Connecticut, USA. Corruption and Growth Under Weak Identification. Urban, I., Researcher, Institute of Public Finance, Croatia. What Makes Personal Income Tax in Croatia Progressive?	Steele, G.R., Lecturer, Lancaster University, UK. Taylor’s Rule: Old Wine in a New Bottle. Lawler, P., Reader, University of Wales, UK & James, J., Ph.D. Student, University of Wales, UK. Might a Conservative Central Banker Reduce Employment Variability? Gracia, E., Researcher, University of Barcelona, Spain. Predator – Prey: An Alternative Model of Financial Bubbles, Mean – Reversion and the Business Cycle. Nogueira Junior, R.P., Ph.D. Student, University of Kent at Canterbury, UK. Inflation Targeting and the Role of the Exchange Rate Pass-Through. Rogowski, W., Deputy Head of Division, National Bank of Poland, Poland. Regulatory Governance in the Financial Stability Safety Net in Poland – Network or Despotic Governance.	Crawford, R., Associate Professor, Brigham Young University, USA & Anderson, T., Associate Professor, Brigham Young University, USA. Morality of Anti-money Laundering. Bilgel, F., Teaching Assistant, Istanbul Bilgi University, Turkey. Organ Trafficking and Optimal Law Enforcement. Sedova, J., Head, Masaryk University, Czech Republic. Legal Environment of Economy Transformation in the Czech Republic. Hawtrey, K., Associate Professor, Macquarie University, Australia. The Effect of Bank Ownership on Fund Performance McGregor, N., Director, University of Abertay, UK. The Migrant Labour Population of Tayside, Scotland: Scale, Characteristics, Impacts and Experiences.

12:45-14:30 Monday, August 21^st, 2006

Session X: Agricultural and Natural Resource Economics (Room A) Chairperson: Steele, G.R., Lecturer, Lancaster University, UK.	Session XI: Other Topics (Room B) Chairperson: Crawford, R., Associate Professor, Brigham Young University, USA.	Session XII: Business Administration and Business Economics-Marketing-Accounting (Room C) Chairperson: Katsaiti, M-S, Ph.D. Student, University of Connecticut, USA.
Sidibe, H., Associate Professor, University of Moncton, Canada. Strategic Positioning of Malian Agricultural Products on the World Markets. Kitagawa, M., Director, Omniversal Develompent Institute, Japan. What Implications Do China and Japan Bring for the Economic Integration in East Asia? Leitao, A., Ph.D. Student, University Nova of Lisboa, Portugal. Corruption and the Environmental Kuznets Curve: Empirical Evidence for Sulfur. (Monday, 21st August)	Baslevent, C., Associate Professor, Istanbul Bilgi University, Turkey. Gender Gap in Earnings and Income Inequality in Turkey. (Monday, 21st August, afternoon) Rinne, U., Reseacher, Iza Bonn, Germany, Kaiser, L., Researcher, Iza Bonn, Germany & Schneider, H., Director, Iza Bonn, Germany. Costs and Benefits of Publicly Financed Training in Germany. Aldashev, A., Researcher, University of Regensburg, Germany. Search Across Location and Commuting Decision. Qvotrup, M., Professor, The Robert Gordon University, UK. Adam Smith.	Pignatel, I., Professor, Euromed Marseille, France. Is an Interlocking Directorate a Specialist in a Line of Business? (Monday 21st August) Gonzalez Serrano, L., Professor, University of Rey Juan Carlos, Spain & Robles Fernandez, M.D., Assistant Professor, University of Computense, Spain. Inter-Firm Cooperation in Stock Market: The Spanish Evidence. Anagnostopoulos, Y., Lecturer, Lecturer, East London University. England. The Potential Implications of the New (Accounting) Measurement Techniques To Reflect ‘True’ Underlying Economic Values.

14:30-15:30: LUNCH (Inside Conference Venue)

15:30-19:30 FREE AFTERNOON TO WALK AROUND PLAKA AND ACROPOLIS (OWN INITIATIVE)

19:30-21:30 GREEK NIGHT ENTERTAINMENT (Place: STAMATOPOULOS TAVERN, 26 Lissiou Street, Plaka, Tel.: 210 3228722)

OFFICIAL OPENING OF THE CONFERENCE

Tuesday August 22^nd, 2006

08:00-09:30 Tuesday, August 22^nd , 2006

Session XIII: International Economics (Room A) Chairperson: Freedman, C., Associate Professor, Macquarie University, Australia.	Session XIV: Economic Development, Technological Change, and Growth (Room B) Chairperson: Mostafa, T., Ph.D. Student, Laboratoire d’ economie et de Sociologie du Travail, Université de la méditerranée (Aix Marseille II) France	Session XV: Law and Economics (Room C) Chairperson: Qvotrup, M., Professor, The Robert Gordon University, UK.
Lopez-Rodriguez, J., Associate Professor, University of A Coruña, Spain & Faíña, J.A., Full Professor, University of A Coruña, Spain. Economic Geography and Regional Income Disparities in Europe. Cortinhas, C., Lecturer, University of Minho, Portugal. Asymmetry of Shocks and Convergence in Selected Asean Countries: A Dynamic Analysis. Daglaroglu, T., Researcher, Gazi University, Turkey. Fiscal Dominance Vs. Inflation Targeting Under Floating Exchange Rate Regime In Emerging Market Economies. (Tuesday, 22nd August, morning) Paulus, P., Economist, University of Cologne, Germany. The Final Blow to the Stability and Growth Pact?	Kronbak, L.G., Assistant Professor, University of Southern Denmark, Denmark & Brandt, U. S., Associate Professor, University of Southern Denmark, Denmark. Robustness of Sharing Rules Under Climatic Changes The Case of International Fisheries Agreement. Gomes, O., Assistant Professor, Escola Superior de Comunicação Socia, Portugal. Entropy in the Creation of Knowledge: A Candidate Source of Endogenous Business Cycles. Chareunsy, A., Ph.D. Student, Macquarie University, Australia. A Local Interaction Game for Development: Knowledge Diffusion Dynamics in Least-Developed Societies. Accoce, J-V., Ph.D. Student, University Montesquieu Bordeaux 4, France. Protectionism as a Development Strategy: Analysis Based on the Keynesian Monetary Circuit of Production.	Rinaldi, A., Ph.D. Student, University of Bologna, Italy. The Supply of Health Services: The Case of Apulia. Danacica, D.-E., Assistant Professor, Constantin Brâncuşi University, Romania. The Economical Implications of Brain-Drain in Central and Eastern Europe. Mearns, L., Senior Lecturer, University of Central Lancashire, UK. Geographical Impact on the Nature of Change within British Employment Relations, 1979 to 1997. Erselcan, F., Lecturer, Cumhuriyet University, Turkey, Kocacik, F., Lecturer, Cumhuriyet University, Turkey & Kutlar, A., Lecturer, Cumhuriyet University, Turkey. Women Textile Workers in Denizli, Turkey.

09:30-11:00 Tuesday, August 22^nd , 2006

Session XVI: Industrial Organization (Room A) Chairperson: Kronbak, L.G., Assistant Professor, University of Southern Denmark, Denmark	Session XVII: Economic Development, Technological Change, and Growth (Room B) Chairperson: Mearns, L., Senior Lecturer, University of Central Lancashire, UK.	Session XVIII: International Economics (Room C) Chairperson: Paulus, P., Economist, University of Cologne, Germany.
Brouwer, M., Professor, University of Amsterdam, the Netherlands. Multi-Plant Firms Entry Barriers and Innovation. Munhurrun, P., Lecturer, University of Technology Mauritius, Republic of Mauritius & Chittoo, H.B., Senior Lecturer, University of Technology Mauritius, Republic of Mauritius. Industrial Policy for Mauritius: Managing for Competitiveness. Odit, M.P., Lecturer, University of Technology Mauritius, Republic of Mauritius & Chittoo, H.B., Senior Lecturer, University of Technology Mauritius, Republic of Mauritius. The Impact of Financial Leverage on Firm Investment Decisions: A Case Study of the Small Island Developing State of Mauritius. Bas, T.G., Professor, University Adolfo Ibanez, Chile, Amoros, J.E., Professor, University Del Desarrollo, Chile. Latin America Framework of Knowledge – Based Industry in Natural Resource Cluster: Innovation and Entrepreneurship – Implication and Challenges.	da Costa, P., Assistant Professor, ERASME, France. Semi-Endogenous Growth and Environmental Friendly Innovations. Mazurencu Marinescu, M., Reader, Academy of Economic Studies of Bucharest. Romania. The Impact of the Management-Shareholders Conflicts on the Firm Value. Evidence from Romanian Companies. Sampat, J., PhD. Student, Emory University, USA. TFP in Indian Manufacturing: Is there Evidence of Creative Destruction. Chakrabarty, M., Lecturer, Keele University, UK & Bhaumik, S., Lecturer, Brunel University, UK. Earnings Inequality in India: Has the Rise of Caste and Religion Based Politics in India had an Impact. Zamora, B., Visiting Professor, University of Jaume I, Spain. A Discussion of the Human Capital Theory in the Methodology of Scientific Research Programmes.	Colletis, G., Professor, University of Toulouse 1, France. Some Reflections about View Changes due the Way to Analyse the Internationalisation towards Globalisation Process. Ioannatos, P., Associate Professor, Kettering University, USA. The Effects of Economic Integration on the Inflow of Foreign Direct Investment: Lessons from the Spanish Experience. Freedman, C., Associate Professor, Macquarie University, Australia. Old Wines in New Bottles: Are Free Trade Agreements in New Protectionism? (Tuesday, 22nd August) Henry, M., Researcher, Aston Business School, UK & Driffield, N., Professor, Aston Business School, UK. Trade, FDI and Technology Diffusion in Developing Countries: The Role of Human Capital and Institutions. Dudek, M., Professor, University of Zielona, Poland. Border Price Effect After Poland’s Accession to European Union.

11:00-12:30 Tuesday, August 22^nd , 2006

Session XIX: Microeconomics (Room A) Chairperson: Brouwer, M., Professor, University of Amsterdam, the Netherlands.

Session XX: Economic Development, Technological Change, and Growth (Room B) Chairperson: Ioannatos, P., Associate Professor, Kettering University, USA.

Bobeica, G., Assistant Professor, Academy of Economic Studies, Romania & Bojesteanu, E., Assistant Professor, Academy of Economic Studies, Romania. Expectations Formation in Open Economy Models. Assadi, D., Adjunct Professor at Graduate School of Business, The American University of Paris, France. The Cost of Free Gifts in Transaction. Rocha de Sousa, M., Lecturer, University of Evora, Portugal. Rawlsian Land Reform with Human Capital: A Social Inclusion Process for the Landless ‘Underdog’.

Noorbakhsh, F., Professor & Head, University of Glasgow, UK. International Convergence and Inequality of Human Development: 1975-2001. Klimova, V., Researcher, Masaryk University, Czech Republic. Business Incubators as the Instrument for Support of Innovations and Competitiveness. Lutmar, C., Researcher, Princeton University, USA. The Political Economy of Military Occupations and Regime Changes: An Empirical Examination 1914-2004. Tranchant, J.P., Ph.D. Student, CERDI- University of Auvergne, France. Rebellion, Mobilization and Institutions in Post – Colonial Societies.

12:30-14:00 Tuesday, August 22^nd , 2006

Session XXI: Health, Education and Welfare (Room A) Chairperson: Assadi, D., Adjunct Professor at Graduate School of Business, The American University of Paris, France.

Session XXII: Economic Development, Technological Change, and Growth (Room B) Chairperson: Lutmar, C., Researcher, Princeton University, USA.

Yilmaz, K., Assistant Professor, Koc University, Turkey & Leung, C., Associate Professor, Chinese University of Hong Kong, Hong Kong. Borrowing Constraints and Intergenerational Mobility: Can Community College Play a Role? Canegrati, E., Ph.D. Student, University of Cattolica, Italy. The Single Mindedness Theory of Labor Unions. Mostafa, T., Ph.D. Student, Laboratoire d’ economie et de Sociologie du Travail, Université de la méditerranée (Aix Marseille II) France & Hanchane, S., Researcher, Laboratoire d’ economie et de Sociologie du Travail, Université de la méditerranée (Aix Marseille II) France. School Choice: Income and Peer Effect Differentiation. Zerva, K., Researcher, Autonomous University of Barcelona, Spain. Consuming Music: A Changing Experience.

Quiroga, S., Associate Professor, University of Europea de Madrid, Spain & Iglesias, A., Professor, University of Politecnica Madrid, Spain. An Analysis of Cereal Production Risk to Climate Variability in Spain. Zitek, V., Researcher, Masaryk University, Czech Republic. Implementation of Innovation Policy in the Czech Republic and its Influence on Growth of Competitiveness. Sica, E., Ph.D. Student, University of Foggia, Italy. Climatic Differences and Economic Growth across Italian Provinces: Early Empirical Evidence. Bellas, D.D., President, Urban Analytics, INC, USA. Fiscal Impact Simulation Modeling: Calculating the Fiscal Impact of Development. Bresson, F., CERDI - Universite d'Auvergne, France. Poverty: Looking for the Real Elasticities.

14:00-15:30: LUNCH (Inside Conference Venue)

15:30-18:00 FREE TIME FOR SHOPPING AROUND SYNTAGMA SQUARE AND/OR VISIT THE NATIONAL ARCHAEOLOGICAL MUSEUM OF ATHENS

19:00-20:30 DINNER Place: ROZALIA TAVERN, 58 Valtetsiou str., Exarcheia Square, Tel.: 210-330-2933

Wednesday, August 23^rd, 2006

One Day Cruise to the Aegean Islands (includes Lunch)
07:00 Bus Departure from the Conference Hotel

07:00 Bus Departure from Syntagma Square (outside “Hotel Great Britain”, 1 Vasileos Georgiou A’ Street)

20:30 Return to the Conference Hotel and Central Athens from Piraeus (Faliro)

Thursday, August 24^th, 2006

Half-Day Tour to Marathon

08:30 Bus Departure from the Conference Hotel

08:45 Bus Departure from Syntagma Square (outside “Hotel Great Britain”, 1 Vasileos Georgiou A’ Street)

Visit Marathon and Lunch in a traditional Greek tavern

15:00 Return to the Conference Hotel and Central Athens