Angelos Antzoulatos

04-03-17 web.xrh 0 comment

Angelos Antzoulatos

Professor, Ph.D STERN School of Business, New York University


Angelos A. Antzoulatos, Professor of Banking, is a graduate of the National Technical University of Athens (1984) and of the Stern School of Business – New York University (MBA, 1986, and Ph.D., 1992).

He has worked at the International Research Department of the Federal Reserve Bank of New York (New York Fed, 8/1994-5/1998) and taught at Stern (1990-1998). He has also served the University of Piraeus as Vice-Rector (9/2002-8/2005), and been teaching at the Hellenic Open University since 2007.

At Stern, he got the Herman E. Kroos best doctoral dissertation award (1992) and two STERN-Citibank awards for excellence in teaching (1992, 1995).

He has written three books (in greek): Governments, Financial Markets and the Macroeconomy (2nd edition, 2019), A short guide to the slippery road of Grexit (2017) and Banking – Management & Strategy (2020).


Prof. Antzoulatos’ research interests currently focus on banking, macroprudential policy and financial crises. The main theme is how supervision, together with macroeconomic policy, may address market frictions and failures as a result of which banks exacerbate the economic and financial risks economic agents face and crises occur.


  • International Macrofinance (Undergraduate)
  • Banking (Undergraduate)
  • Environmental Finance (Undergraduate, elective)
  • Governments, Financial Markets and the Macroeconomy (Graduate)
  • Principles of Financial Intermediation (Graduate)
  • Special Topics in Banking (Graduate)

Selected Publications

  • “Credit Rationing and Rational Behavior”, Journal of Money, Credit, and Banking, vol. 26, nο. 2, May 1994, pp. 182-202.
  • “Borrowing Constraints, Income Expectations and the Euler Equation – Theory and Evidence” Economics Letters, vol. 45, July 1994, pp. 323-327.
  • “On the Determinants and Resilience of LDC Bond Issuance, 1990 – 1995”, Journal of International Money and Finance, vol. 19, no. 3, 2000, pp. 399-418.
  • “Arbitrage Opportunities on the Road to Stabilization and Reform”, Journal of International Money and Finance, vol. 21, 2002, pp. 1013-1034.
  • “Bank Lending to LDCs – Lessons from the 1970s” (with N. Seth), International Economic Journal, vol. 17, nο. 2, Summer 2003, pp. 19-36.
  • “Financial System Structure and Change – Evidence from the O.E.C.D. Countries” (with C. Tsoumas and J. Thanopoulos), Journal of Economic Integration, 23, no. 4, December 2008, pp. 977 – 1001.
  • “Do Financial Systems Converge?” (with E.Panopoulou and C. Tsoumas), Review of International Economics, v19, no. 1, 2011, pp. 122–136.
  • “The Enigma of Non-Interest Income Convergence” (with E.Panopoulou and C. Tsoumas), Applied Financial Economics, v 21, no. 17, 2011 (September), pp. 1309 – 1316.
  • “Greece in 2010: A Tragedy Without(?) Catharsis”, International Advances in Economic Research, v 17, no. 3, 2011, pp. 241-257 (lead article).
  • “Policy Responses to the European Debt Crisis – Treating the ‘Symptoms’ or the ‘Disease’?”, Panoeconomicus, v 59, no. 5, 2012 (December), pp. 529 – 552, (lead article – by invitation).
  • “Institutions, Moral Hazard and Expected Government Support of Banks” (with C. Tsoumas), Journal of Financial Stability, vol. 15, 2014 (December), pp. 161 – 171.
  • “Supply of capital and capital structure: The role of financial development” (with K. Koufopoulos, C. Lambrinoudakis and E. Tsiritakis), Journal of Corporate Finance, vol. 38(C), 2016, pp. 166 – 195.