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Rousakis, Michael

Economist

Bank of America Merrill Lynch, United Kingdom

Website

Greece

Max Weber alumnus

Department of Economics

Cohort(s): 2012/2013, 2013/2014

Ph.D. Institution

University of Warwick, United Kingdom

Biography

I joined the EUI as a Max Weber Fellow in September 2012. My research interests lie in macroeconomics and monetary economics.
My current research consists of two projects.
In the first project, I explore the effects of expectations on economic fluctuations and show that these reflect the monetary policy pursued. On the policy front, I show that conventional policy recommendations are overturned: inflation stabilization is suboptimal, whereas output gap stabilization is optimal. Further, forward-looking policies, fail to control the way public’s expectations affect the economy, causing potentially excessive volatility.
In the second project, I ask how patent rights affect the timing of innovation. I do so within an economy where firms enjoy monopoly profits out of their innovations temporarily. Due to demand externalities, firms across different sectors, which receive ideas at different times, might opt to postpone their implementation in order to innovate together. I show that a prolongation of patent rights limits the appeal of such an option and can lead to a welfare improvement.
I completed my graduate studies (PhD and MSc) at the University of Warwick in 2012 under the supervision of Prof. Herakles Polemarchakis. Prior to these, I completed my undergraduate studies in Economics at the Athens University of Economics and Business in 2005.
My teaching experience involves an advanced Ph.D. course on ``Information and Expectations in Macroeconomics’’ which I taught at the EUI in Spring 2013. Previously, I was a teaching assistant at the University of Warwick for Ph.D. macroeconomics as well as undergraduate intermediate and advanced microeconomics.
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