Trends and unit roots in Greek real money supply, real GDP and nominal interest rate

This paper presents the results of a unit root investigation of Greek real money supply, real G.D.P. and nominal interest rate, after following a sequen - tial procedure which takes into consideration the effect of the possibly erroneus presence or absence of the trend and/or intercept on the augmented Dickey – Fuller unit root test procedure.peer-reviewe

Does entry business regulation deter FDI? Evidence from Dynamic Estimators

The present paper aims to examine the effects of entry business regulation on the Foreign Direct Investment (FDI) inflows (net amount) of 185 countries covering a period from 2004 to 2017. For that reason, we estimate a dynamic panel FDI specification, which additionally checks for macroeconomic and institutional factors, using Fixed Effects, Bootstrap Fixed Effects and GMM estimators. Overall, the empirical findings reveal, a negative and statistically significant association between entry regulation and FDI. This suggests that bureaucratic burdens concerning entry regulation can exert adverse effects on the inflow of FDI. Furthermore, when the full sample is separated into different income groups, our findings still indicate evidence of significance, which, however, arises only in the countries of Low and Middle-income.

Inflation Targeting And The Multiplier Accelerator Principle

In this paper we consider a closed economy and using the multiplier – accelerator principle we develop a simple dynamic New Keynesian type model in our effort to determine the time paths of income, actual and expected inflation towards their long – run equilibrium values. The equilibrium values of actual and expected inflation are proved to be affected by government expenditures and the growth rate nominal money supply. Assuming that the Central Bank is interested in stability of real stock of money supply, we specify the rule of determination of the growth rate in nominal money supply. The use of this rule guarantees the equality between inflation and the growth rate of nominal money supply and permits Central Bank to offset the effects of an expansionary fiscal policy on the real stock of money. The theoretic conclusions of our analysis are affirmed by the simulation results presented in the fourth section of our paper.&nbsp

The effect of oxygen concentration on the structure of turbulent nonpremixed flames

MILD combustion is a newly implemented and developed concept to achieve high thermal efficiency and fuel saving while maintaining emission of pollutants at very low levels. It utilizes the concept of heat and exhaust gas recirculation to achieve combustion at reduced temperature, with a flat thermal field and low turbulence fluctuations. An experimental burner is used in this study. Temporally, and spatially resolved measurements of reactive scalars are conducted on three different flames of H2/CH4 fuel mixture at fixed jet Reynolds number and different oxygen mass fractions in the hot oxidant stream. The results show substantial variation of the flame structure with the decrease of the oxygen level. The results also point towards a different chemical pathway for the reaction in this combustion regime, where the formation of the OH radical and NO is less dependent on temperature.B.B. Dally, A.N. Karpetis & R.S. Barlo

Bank Behavior in Oligopoly, Bank- Clients and Monetary Policy

This paper investigates the impact of monetary policy on the optimal bank behavior under oligopolistic conditions. In addition, we attempt to extend this analysis in the sphere of bank-clients behavior.We concentrate on the way the minimum reserve requirements of commercial banks influence the optimal bank behavior in oligopoly. In particular, we are interested in the influence of this instrument of monetary policy on the interest rate spread. For this reason, we formulate a two-stage Cournot game with scope economies.We conclude that the sign of each change depends on the type of scope economies. Finally, treating an overlapping generation model as a guiding principle, we show that the minimum reserve requirements of commercial banks have an impact on the depositors’ and borrowers’ two periods’ optimal level of consumption

Process facilitation in psychoanalysis, psychotherapy and social work

Book review.George Karpeti

Neurobiology and Mental Health Clinical Practice: New Directions, New Challenges, by Miehls, D. and Applegate, G. (2015). New York: Routledge, 266 pp., $51.95 [Book Review]

Book Review. Published online: 24 Dec 2019George Karpeti