Economics Professor awarded €88K Research Grant

Published: Tuesday 18 June 2013
Menelaos Karanasos
Professor Menelaos Karanasos

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."

Twelve European universities are working together on this project. RASTANEWS received the highest rating out of more than 100 grant applications. The grant is € 2.4M in total, with approximately €88K coming to Brunel.

Page last updated: Tuesday 18 June 2013