Theodore Panagiotidis’s web Page


EconPapers Site


Google Scholar







Department of Economics

University of Macedonia

156 Egnatia street

540 06 Thessaloniki, Greece



Workshops of the Regional Studies Research Network


ESRC Seminar Series: Nonlinear Economics and Finance research Community



Co-Editor Review of Economic Analysis

Editorial Boards:

Journal of Economics and Finance, Economics and Business Letters, International Review of Financial Studies.


Visiting Positions:

Hellenic Observatory, London School of Economics,

Rimini Centre for Economics Analysis



Articles in Greek:

Research for the Housing Market in Thessaloniki:

Aggelioforos 7/4/2010, 25/5/2011, 28/9/2011, 30/10/2011, 22/4/2012, 6/5/2014, Office Market Athens-Thessaloniki


Supermarkets: Ημερησία 16/5/2013, 28/4/2014.


Καθημερινή 13/4/2013, 2/11/2013, 5/4/2014, 6/4/2014, 22/8/2014, 16/5/2015, 8/8/2015, 10/1/2016.


Articles in English

gREECE@lse: My Posts

Wall Street Journal




Past positions in the University of Sheffield, Loughborough University, Brunel University and LSE.


Selected Publications



Boumparis, P., Milas, C. and Panagiotidis, T., (2017), Economic Policy Uncertainty and Sovereign Credit Rating Decisions: Panel Quantile Evidence for the Eurozone, forthcoming Journal of International Money and Finance.


Gkiourkas, E., Panagiotidis, T. and Pelloni, G., (2017), Revisiting the macroeconomic effects of labor reallocation, forthcoming Economics Letters.


Bampinas, G. and Panagiotidis, T., (2017), Oil and stock markets before and after financial crises: a local Gaussian correlation approach, forthcoming Journal of Futures Markets.


Bampinas G. Konstantinou P, Panagiotidis T. Inequality, demographics, and the housing wealth effect: panel quantile regression evidence for the US, forthcoming Finance Research Letters.


Holmes, M.J., Otero, J., Panagiotidis, T. Climbing the property ladder: An analysis of market integration in London property prices, forthcoming Urban Studies.


Holmes, M.J., Otero, J., Panagiotidis, T. (2017) A Pair-wise Analysis of Intra-city Price Convergence Within the Paris Housing Market , Journal of Real Estate Finance and Economics, 54 (1)


Bakas, D., Panagiotidis, T. and Pelloni, G. (2016) On the significance of labour reallocation for European Unemployment: Evidence from a panel of 15 countries, forthcoming Journal of Empirical Finance.


Dergiades, T., Kaufmann, R., Panagiotidis, T. (2016) Long-Run Changes in Radiative Forcing and Surface Temperature: The Effect of Human Activity over the Last Five Centuries, forthcoming Journal of Environmental Economics and Management.


Bakas, D., Panagiotidis T., Pelloni, G. (2016) Regional and sectoral evidence of the macroeconomic effects of labor reallocation: a panel data analysis, forthcoming Economic Inquiry.


Boumparis P., Milas C., Panagiotidis T. (2015) Has the crisis affected the behavior of the rating agencies? Panel evidence from the Eurozone, Economics Letters, 136, pp. 118-124.


Bampinas G., Panagiotidis T. (2015) On the relationship between oil and gold before and after financial crisis: Linear, nonlinear and time-varying causality testing, Studies in Nonlinear Dynamics and Econometrics, 19 (5), pp. 657-668.


Bampinas G., Panagiotidis T. (2015) Are gold and silver a hedge against inflation? A two century perspective, International Review of Financial Analysis.


Chortareas G., Magkonis G., Moschos D., Panagiotidis T. (2015) Financial Development and Economic Activity in Advanced and Developing Open Economies: Evidence from Panel Cointegration, Review of Development Economics, 19 (1), pp. 163-177.


Dergiades T., Milas C., Panagiotidis T. (2015) Tweets, Google trends, and sovereign spreads in the GIIPS, Oxford Economic Papers, 67 (2), art. no. gpu046, pp. 406-432.


Holmes, M.J, J. Otero, T. Panagiotidis 2014, A note on the extent of US regional incomes convergence, Macroeconomic Dynamics, 18, 1635-1655.


Holmes M.J., Otero J., Panagiotidis T. Modelling the behaviour of unemployment rates in the US over time and across space (2013) Physica A: Statistical Mechanics and its Applications, 392 (22), pp. 5711-5722.


Holmes M.J., Otero J., Panagiotidis T. On the dynamics of gasoline market integration in the United States: Evidence from a pair-wise approach (2013) Energy Economics, 36, pp. 503-510.


Alagidede, P. and T. Panagiotidis 2012 Stock returns and inflation: Evidence from Quantile regression, Economics Letters 117, 283-286.


Holmes, M.J, J. Otero, T. Panagiotidis, 2012, PPP in OECD countries: An analysis of real exchange rate stationarity, cross section dependency and structural breaks, Open Economies Review 23, 767-783.


Chortareas, G., G. Magonis, T. Panagiotidis, 2012, The asymmetry of the New Keynesian Phillips curve in the euro-area, Economics Letters 114, 161-163.


M. J. Holmes  J. Otero T. Panagiotidis, 2011, Investigating Regional House Price Convergence in the United States: Evidence from a pair-wise approach, Economic Modelling, 28(6), 2369-2376.


Alagidede, P., Panagiotidis T. X. Zhang 2011. Causal relationship between stock prices and exchange rates, Journal of International Trade and Economic Development, 20(1), 67-86.


Alagidede, P. Panagiotidis, T., 2010. Can common stocks provide a hedge against inflation? Evidence from African countries, Review of Financial Economics, vol. 19(3), p 91-100.


M. J. Holmes J. Otero  T. Panagiotidis, 2010. On the Stationarity of Current Account Deficits in the European Union, Review of International Economics, 18(4), p 730-740.


Panagiotidis T., 2010. An Out-of-Sample Test for Nonlinearity in Financial Time Series: An Empirical Application, Computational Economics, vol. 36(2), p 121-132.


M. J. Holmes, J. Otero T. Panagiotidis 2010. Are EU budget deficits sustainable? Empirical Economics, Vol 38 (3), 767-778.


M. J. Holmes T. Panagiotidis 2009. Cointegration and Asymmetric Adjustment: Some New Evidence Concerning the Behavior of the U.S. Current Account, The B.E. Journal of Macroeconomics: Vol. 9: Iss. 1 (Topics), Article 23.Available at:


Alagidede, P. Panagiotidis T. 2009. Modelling Stock Returns in Africa’s Emerging Equity Markets, International Review of Financial Analysis, 18, 1-11.


Lekkos, I. Milas, C., Panagiotidis, T. 2007. Forecasting interest rate spreads using domestic and international risk factors: Evidence from Linear and non-linear models, Journal of Forecasting, vol 26, 601-619.


Panagiotidis, T. Pelloni, G. 2007. Non-Linearity in the Canadian and US labour markets: Univariate and Multivariate evidence from a battery of tests, Macroeconomic Dynamics, 11, 613-637.


Panagiotidis, T. Rutledge, E. 2007. Oil and Gas Markets in the UK: A cointegrating approach, Energy Economics, 29, 329-347.


Panagiotidis, T. 2005. Market capitalization and efficiency. Does it matter? Evidence from the Athens Stock Exchange, Applied Financial Economics, Vol 15 (10), 707-723.


Sharma, A. Panagiotidis, T. 2005. An analysis of exports and growth in India: Some Empirical Evidence, Review of Development Economics, Vol 9 (2), pp232-248.


Milas, C., Otero, J., Panagiotidis, T., 2004. Forecasting the spot prices of various coffee types using linear and non-linear error correction models, International Journal of Finance and Economics, Vol 9 (3), pp277-288.





Econometrics, International Finance, Topics in Financial Economics


REFEREEING (60+ reports)





Applied Economics, Applied Financial Economics, BE in Macroeconomics, Bulletin of Economic Research, Economic Modelling, Economics and Business Letters, Ekonomia, Economic Issues, Energies, Energy Journal, Energy Economics, Energy Policy, Emerging Markets Finance and Trade, European Journal of Finance, European Journal of Finance, Conference Volume, International Journal of Finance and Economics, International Review of Economics and Finance, Journal of International Trade and Economics Development, International Review of Applied Economics, International Review of Economics and Finance, Journal of Economic Integration, Journal of Economic Surveys, Journal of Economics and Business, Journal of Economics and Finance, Journal of Emerging Market Finance, Journal of International Money and Finance, Journal of International Trade and Economic Development, Journal of Forecasting, Journal of Policy Modeling, Journal of Time Series Econometrics, Manchester School, Oxford Bulletin of Economics and Statistics, Oxford University Press, Statistics and Computing, Physica A, QQASS, Review of International Economics, Review of Development Economics, South-Eastern Europe Journal of Economics, Studies in Nonlinear Dynamics and Econometrics, Macroeconomic Dynamics, Journal of Macroeconomics, Journal of Empirical Finance, Quarterly Review of Economics and Finance, Scientometics, Credit and Capital Markets.