Institutional framework of laboratory operation:

url: https://ael.econ.uowm.gr/  e-mail: ntsounis@uowm.gr


The laboratory covers research and teaching needs in the field of Applied Econometrics with emphasis on Applied Macroeconomics, International Economics, Microeconomics including Industrial Organization, Applied Agricultural Economics and Applied Finance.


The purpose of the laboratory is:
1. The coverage at undergraduate and postgraduate level of the research needs of the Department of Economics of the University of Western Macedonia, with topics that fall within the cognitive objects of the Laboratory.
2. The cooperation of any form with domestic and foreign research centers and academic institutions, in case their scientific objectives coincide and complement each other with those of the laboratory.
3. The organization of scientific lectures, workshops, seminars, symposia, conferences and other scientific events, the realization of publications and publications and the invitation of Greek and foreign recognized scientists.
4. The provision of services to individuals according to the provisions of p.d. 159/1984 "Conditions for the provision of services by the University laboratories to individuals and all legal organizations" (A '53).

Research activities:

The elaboration of development studies and local development programs, the elaboration of sectoral studies at regional level and especially in sectors of special interest for the region such as alternative tourism, promotion of local products, etc., the elaboration of strategic development plans (master plans), the drafting of financial plans the provision of specialized advice and all kinds of support to local, national or European bodies in matters relating to the development of development policies at local and regional level.
The analysis of statistical data and the forecasts of chronological series at local, national and international level.
The analysis of the financial possibilities and constraints (SWOT analysis) of an area and the elaboration of studies of local labor markets.
The economic analysis of the European area at national and regional level and the monitoring and evaluation of the effects of economic integration and the structural and sectoral policies of the European Union.
The enhancement and support of the educational process and the research activity of the Department of Economics

Research projects:

  • "Tourism policies and their time effectiveness in Greece and the Region of Western Macedonia: A Tourism Policy Guide for Private and Government agencies", NSRF, Ministry of Development and Investment, (2020-2023) (the research project is an independent work package [EU4] in the Technical Bulletin entitled "New technologies and innovative approaches in relation to Agri-food and Tourism for the enhancement of regional excellence in Western Macedonia".
  • "Measuring Technological Progress with the Approach to the Complete Balance of the Sectors: the case of the Greek Economy", RC University of Western Macedonia (2018-2021)
  • "Adoption of Social Networks and their Impact on the Functionality of Greek Food and Beverage Companies", RC University of Western Macedonia (2018-2021)


Laboratory Infrastructure:
Direct access via 1GB high speed fiber optic internet to statistical databases concerning the economic, demographic and social characteristics of countries and regions as well as technical and social infrastructure at local, national, European and international level as well as to international databases concerning his research interests. The databases concern the following:
a) Time series of economic, demographic, structural and macroeconomic data, as well as data on employment, unemployment, investment and infrastructure for the whole country (ELSTAT),
b) International databases with economic, demographic, structural and macroeconomic data, as well as technical and social infrastructure data for all countries of the world and especially EU countries (UN, World Bank, OECD, Eurostat, IMF, Espon, WIIW, ITC, APEC),
c) Databases with financial , demographic and structural data for the NUTS II and NUTS III regions of the European Union (Regio database)

Modern computing infrastructure.

Modern computer programs of Econometric and Statistical Analysis (Eviews, SPSS, STATA)

Municipal Business Plans
Special development studies
Consulting services to national and international organizations in matters of productive composition, regional specialization, regional cohesion, regional inputs-outputs, economic relations and development policy, tourism development


Name Position E-mail CV
Tsounis Nicholaos Professor & Laboratory Director ntsounis@uowm.gr https://econ.uowm.gr/tsounis-nikolaos/
Vlachvei Aspasia Professor avlahvei@uowm.gr https://econ.uowm.gr/vlahvei-aspasia/
Monovasilis Theodoros Professor tmonovasilis@uowm.gr https://econ.uowm.gr/monovasilis-theodoros/
Dritsaki Chaido Professor cdritsaki@uowm.gr https://accfin.uowm.gr/dritsaki-chaido/
Agiomyrgianakis George Professor georgeagios@hmu.gr Βιογραφικό Σημείωμα 
Notta Ourania Professor  ournotta@ihu.gr Βιογραφικό Σημείωμα 
Menegaki Aggeliki Associate Professor amenegaki@aua.gr Βιογραφικό Σημείωμα
Siskou Thomas Assistant Professor tsiskou@uowm.gr https://econ.uowm.gr/siskoy-thomas/
Tsinaslanidis Prodromos Assistant Professor ptsinaslanidis@uowm.gr https://econ.uowm.gr/prodromos-tsinaslanidis/
Koronaki Eirini Assistant Professor ekoronaki@uowm.gr https://econ.uowm.gr/eirini-koronaki/
Markopoulos Lazaros Special Technical Laboratory Staff
Dimitriadis Ilias Special Technical Laboratory Staff idimitriadis@uowm.gr https://econ.uowm.gr/dimitriadis-ilias/

Experience in specific areas / laboratory research outputs

Labour market-Human Capital 

Agiomirgianakis,G., Bertsatos, G., Tsounis,N., (2019), ‘Gender Wage Gaps and Economic Crisis in Greece’, International Review of Applied Economics, 33(2):254-276 DOI:10.1080/02692171.2018.1485633

 Agiomirgianakis,G., Lianos, T., Tsounis,N., (2019), ‘Returns to Investment in Distance Learning: the case of Greece’, International Business Research, 12(3):94-100. doi:10.5539/ibr.v12n3p94

Economic crisis and Greek food firms 

Notta, O., and A. Vlachvei (2020). Determinants of performance in Greek food and beverage industry during the years of economic crisis in Advances in Cross Section Data Methods in Applied Economic Research, Tsounis and Vlachvei (eds), Proceedings of the 2019 International Conference on Applied Economics (ICOAE), Springer Proceedings in Business and Economics, Springer International Publishing, AG2019.

Environmental / Energy Economics

Guijarro, F. and Tsinaslanidis, P., (2020). Analysis of the Academic Literature on Environmental Valuation. International journal of environmental research and public health, 17(7), p.2386.

Lianos, T., Pseiridis, A., Tsounis, N., (2020), ‘On the Relationship between GDP and Energy: A Critical Comment’, International Journal of Energy Economics and Policy, 10(2):458-463. DOI: https://doi.org/10.32479/ijeep.8418

Yifei, C. and Menegaki, A.N. (2019). Fourier Quantile Unit Root Test on Clean Energy Consumption, Energy Economics 78: 324-334

Arminen, H. and Menegaki, A.N. (2019). Corruption, climate and the energy-environment-growth nexus, Energy Economics, 80:621-634

Yifei, C. and Menegaki, A.N. (2019). Convergence of Clean Energy Consumption – Panel Unit Root Test with Sharp and Smooth Breaks, Environmental Science and Pollution Research 26 (18), pp.18790-18803

Menegaki, A.N. and Tiwari, A. (2019). A Kalman Filter approach on the price elasticity of electricity for India in the period 1975-2013, Energy 183: 385-397

Menegaki, A., (2019). The ARDL method in the energy-growth nexus field; Best implementation strategies, Economies, MDPI, Open Access Journal, vol. 7(4) : 105, October.

Bulut, U. and Menegaki, A.N. (2020). Solar energy and economic growth in top 10 countries with the highest installed capacity, Energy Sources, Part B 15: 1-14

Dritsaki M. and Dritsaki, C. (2020). “Forecasting European Union CO2 emissions using autoregressive integrated moving average-autoregressive conditional heteroscedasticity models”, International Journal of Energy Economics and Policy, Vol.10, No.4, pp.411-423. (Impact Factor, Scopus).

Stamatiou, P., Dritsaki, C. and Niklis D. (2020). “CO2 emissions, energy consumption, economic growth, trade and urbanization in Greece”, ICOAE, Virtual Conference 2-3 July, Advances in Longitudinal Data Methods in Applied Economic Research, (Springer).

International Trade

Yifei, C. and Menegaki, A.N. (2019). FDI, Growth and Trade Partisan Conflict in the US: TVP BVAR Approach, Empirical Economics (0):1-28, Doi: 10.1007/s00181-019-01795-1 

Dritsaki C. and Stamatiou, P. (2019). “Investigating the impact of market openness on economic growth for Poland: An autoregressive distributed lag bounds testing approach to cointegration”, International Journal of Economics and Financial Issues, Vol.9, No.6, pp.123-131.

Dritsaki M. and Dritsaki, C. (2020). “Trade openness and economic growth: A panel data analysis of Baltic countries”, Asian Economic and Financial Review, Vol.10, No.3, pp.313-324.  

Marketing Strategies

Iliopoulou, Ef. and A. Vlachvei, (2021). Consumers’ Motives for Visiting Social Media Brand Pages and Social Media Advertisements in Advances in Longitudinal Data Methods in Applied Economic Research, Tsounis and Vlachvei (eds), Proceedings of the 2020 International Conference on Applied Economics (ICOAE), Springer Proceedings in Business and Economics, Springer International Publishing AG 2021

Giovanis, A., Kavoura, A., Rizomyliotis, A., Varelas, S. and Vlachvei, A., (2019). ‘Exploring the Factors Affecting Consumer Acceptance of Proximity M-Payment Services’ in Strategic Innovative Marketing and Tourism, A.,  Kavoura,  Kefallonitis and Giovanis eds, Proceedings of the 7th ICSIMAT, Springer Proceedings in Business and Economics, Springer International Publishing, pp. 551-558

Panigyrakis, G., & Panopoulos, A. & Koronaki, E., (2019), “All we have is words: applying rhetoric to examine how social media marketing activities strengthen the connection between the brand and the self”, International Journal of advertising, 1-20. 

Koronaki, E. & Theodoridis, P. , (2020), “Crafting food shopping experiences: the case of food halls in luxury departments stores”, Consumer Science and Strategic Marketing: Case Studies on Food Experiences: Insights for Marketing, Retail and Events, Editors: Steffen, A. & Doppler, S. Publisher: Elsevier (ISBN: 978-0-12-817792-1, pp: 51-63)

Panopoulos, A., Koronaki, E., Kyrousi A. and Zotou, A., (2020), “Redefining luxury advertising: motivation in advertised value, attitudes and susceptibility”, Global Marketing Conference, Seoul, 5-8 November

Kyrousi, A., Zotou, A. & Koronaki, E., (2020), “Consumers under lockdown: self-gifting and mood alleviation”, International Conference on Strategic Innovative Marketing and Tourism -ICSIMAT 2020, Virtual Conference, September 26-28.

Vlachvei, A., Koronaki, E & Rogriduez-Garcia, A., (2020), “Constructing consumer-brand relationships for luxury brands: the role of the omni-channel experience and perceived uniqueness”, International Conference on Contemporary Marketing Issues ICCMI, Virtual Conference, September 11-13.

Koronaki, E., Theodoridis, P., (2020), “What does sustainable luxury consist of and how is it linked to brand experience An examination of social media posts”, International Conference on Contemporary Marketing Issues ICCMI, Virtual Conference, September 11-13.

Koronaki, E., Theodoridis, P. & Panigyrakis, G., (2019), “Linking luxury brand experience and brand attachment through self-brand connections: a role-theory perspective” International Conference on Strategic Innovative Marketing and Tourism -ICSIMAT 2019, Chios, Greece, July 17-21.

Kyrousi, A., Zotou, A. & Koronaki, E., (2019), “Creative Experiences as Self-Gifts: Understanding the Consumption of Aesthetic Products”, 18th International Conference on Research in Advertising (ICORIA), June 28-20, Krems, Austria.

Sectoral Studies

Bassiakos, Ι., Kalogiratou, Ζ., Monovasilis, Τ., Tsounis, Ν., (2021), ‘Computational method for approximating the behaviour of a triopoly: an application to the mobile telecommunications sector in Greece’, International Journal of Computational Economics and Econometrics, 11:63-77.

Monovasilis, T., Kalogiratou, Z., Tsounis,N., Bertsatos, G. and Moustakli, S., (2020), “Mathematical Modeling of the Brewery Sector in Greece with the Use of Differential Equations”, Chapter 43 in N. Tsounis and A. Vlachvei (eds.), Advances in Cross-Section Data Methods in Applied Economic Research, Springer Proceedings in Business and Economics, pp. 651-659. https://doi.org/10.1007/978-3-030-38253-7_41


Evangelou, E., Iliopoulou, Ef., Evangelou, P., A. Vlachvei and Th. Monovasilis, (2019). “Airbnb and Greek travellers” in TOURMAN 2019 Conference Proceedings “Tourism, travel and hospitality at crossroads: The way ahead” Christou, Alexandris and Fotiadis (eds), Thessaloniki, Greece, 24-27 October 2019, ISBN: 978-618-80440-6-7, pp.24-29

Menegaki, A.N. and Agiomirgianakis, G.M. (2019). Sustainable technologies in Greek tourist accommodation; Part 1: A qualitative review, Progress in Industrial Ecology-An international journal Vol 13(4): 373-400

Ahmad, N., Menegaki, A.N., Al-Muharrami, S., (2020). “Systematic Literature Review Of Tourism Growth Nexus: An Overview Of The Literature And A Content Analysis Of 100 Most Influential Papers”, Journal of Economic Surveys, 34 (5): 1068-1110

Menegaki, A.N., Tiwari, A.K. and Agiomirgianakis, G.M. (2020). Asymmetries in European inbound and outbound tourism: Normal, luxury or inferior good, Fresh evidence from a Quantile Regression, European Journal of Tourism Research, 25:2508

Monetary Policy 

Dritsaki C. (2019). “Modeling the volatility of exchange rate currency using GARCH model”, Economia Internazionale,Vol.72, No.2, pp.209-230.

Stamatiou, P. and Dritsaki C. (2019). “The Phillips curve: unemployment dynamics and the NAIRU estimates of Poland’s economy”, Economia Internazionale, Vol.72, No.3, pp.281-312.

Roussou I., Dritsaki, C, and Stiakakis E., (2019) “The bitcoin’s network effects paradox - A time series analysis”, Theoretical Economics Letters, Vol.9, No.6, pp.1981-2001.

Dritsaki, C. (2019). “The stability of money demand in the long-run: An empirical study from Italy”, ICOAE, Milan - Italy 4-6 July, Advances in Cross-Section Data Methods in Applied Economic Research, pp.401-418. (Springer). 

Dritsaki C. and Dritsaki, M. (2020). “The long-run money demand function: Empirical evidence from Italy”, International Journal of Economics and Financial Issues, Vol.10, No.1, pp.186-195.  

Applied Finance / Computer Science 

Tsinaslanidis, P. and Guijarro, F., (2020). What makes trading strategies based on chart pattern recognition profitable?. Expert Systems, p.e12596.