Economics Professor awarded €88K Research Grant
Professor Menelaos Karanasos has been awarded a European Commission FP7 grant for a collaborative project entitled: Macro Risk Assessment and Stabilization Policies with New Early Warning Signals (RASTANEWS). The project focuses on research about the future of macro-economic and monetary integration in Europe. Professor Karanasos' contribution is aimed at the application of time series analysis for modelling financial and macroeconomic (in)stability.
Professor Karanasos elaborated: "RASTANEWS intends to enhance knowledge base, at both theoretical and an applied level, on many aspects of the future of macro-economic and monetary integration in Europe thus paving the way to a revised governance of the EMU, and the EU as a whole, in the wake of the debt crisis. To facilitate the timely identification of macro risks, the project proposes a new system of early warning indicators, to be implemented within the EMU surveillance mechanism. This proposal is consistent with our theoretical framework and is based on an empirical macro-finance approach."