Nikolaos Apergis

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Nikolaos Apergis

Professor, Ph.D Fordham University, New York, USA


Dr. Nikolaos Apergis is Professor of Economics in the Department of Banking and Financial Management at the University of Piraeus. Previously he was with Curtin University, Australia, and the University of Derby, UK where he is still during his leave of absence. His teaching and research areas are within the areas of Macrofinance, Applied Economics and Energy Economics. He has over 250 papers in peer review journals with a current Scopus H-index=41, while he is the Editor-in-Chief of the International Journal of Financial Studies and the Energy Research Letters. According to the Repec statistics (as of September 2020) he is holding the 74th position across global economists who have been research active over the last 10 years. He has been an external examiner to a number of overseas doctoral theses in relevance to energy and environmental issues. He is currently supervising 2 PhD theses, while in the past he supervised over 150 Master’s theses and 1 PhD thesis. He has also served in a number of boards of directors.


His research interests are in the areas of Macroeconomics, Open Economy Macroeconomics, MacroFinance, and Energy Economics.



Selected Publications

  • Apergis, N., Plakandaras, V., and Pragidis, I. (forthcoming), ‘Industry Momentum and Reversals in Stock Markets’, International Journal of Finance and Economics.
  • Coskun, E.A., Apergis, N., and Coskun, Y. (forthcoming), ‘Threshold Effects of Housing Affordability and Financial Development on the House Price-Consumption Nexus’, International Journal of Finance and Economics.
  • Apergis, N., Koutmos, D., and Payne, J.E. (forthcoming), ‘Convergence in Cryptocurrency Prices? The Role of Market Microstructure’, Finance Research Letters.
  • Alam, M.S., Apergis, N., Paramati, S.R., and Fang, J. (forthcoming), ‘The Impact of R&D Investment and Stock Markets on Clean Energy Consumption and CO2 Emissions in OECD Countries’, International Journal of Finance and Economics.
  • Apergis, N. (2020), ‘Natural Disasters and Housing Prices: Fresh Evidence from a Global Country Sample’, International Real Estate Review, 23, 815-836.
  • Apergis, N., Gozgor, G., Lau, C.K.M., Wang, S. (2020), ‘Dependence Structure in the Australian Electricity Markets: New Evidence from Regular Vine Copulae’, Energy Economics, 90, Article 104834.
  • Apergis, N., Chatziantoniou, I., Cooray, A. (2020), ‘Monetary Policy and Commodity Markets: Unconventional versus Conventional Impact and the Role of Economic Uncertainty’, International Review of Financial Analysis, 71, Article 101536.
  • Apergis, N. (2019), ‘Financial Market Imperfections and Profitability: New Evidence from a Large Panel of U.S. SME Firms’, Journal of Forecasting, 39, 220-241.
  • Apergis, N., Christou, C., and Kynigakis, J. (2019), ‘Contagion across US and European Financial Markets: Evidence from the CDS Markets’, Journal of International Money and Finance, 96, 1-12.
  • Apergis, E., Apergis, I., and Apergis, N., (2019), ‘A New Macro Stress Testing Approach for Financial Realignment in the Eurozone’, Journal of International Financial Markets, Institutions & Money, 61, 52-80.
  • Apergis, N. (2019), ‘The Role of the Debt-Service Ratio as a Leading Indicator of Households Consumption’, The Manchester School, 87, 821-847.
  • Apergis, N., Cooray, A., Khraief, N., and Apergis, I. (2019), ‘Do Gold Prices Respond to Real Interest Rates? Evidence from the Bayesian Markov Switching VECM Model’, Journal of International Financial Markets, Institutions & Money, 60, 134-148.
  • Apergis, N. (2019), ‘Financial Experts on the Board: Does It Matter for the Profitability and Risk of the U.K. Banking Industry?’, Journal of Financial Research, 42, 243-270.
  • Apergis, N., Gozgor, G., Lau, C.K.M., and Wang, S. (2019), ‘Decoding the Australian Electricity Market: New Evidence from Three-Regime Hidden Semi-Markov Model’, Energy Economics, 78, 129-142.
  • Smales, L. and Apergis, N. (2017), ‘Understanding the Impact of Monetary Policy Announcements: The Implications of Language and Surprises’, Journal of Banking and Finance, 80, 33-50.
  • Smales, L. and Apergis, N. (2017), ‘Does More Complex Language in FOMC Decisions Impact Financial Markets? Journal of International Financial Markets, Institutions & Money, 51, 171-189.
  • Apergis, N., Barunik, J., and Lau, C.K.M. (2017), ‘Good Volatility, Bad Volatility: What Drives the Asymmetric Connectedness of Australian Electricity Markets?’, Energy Economics, 66, 108-115.
  • Apergis, N. (2017), ‘Monetary Policy and Macroprudential Policy: New Evidence from a World Panel of Countries’, Oxford Bulletin of Economics and Statistics, 79, 395-410.
  • Smales, L.and Apergis, N. (2016), ‘The Influence of FOMC Members’ Characteristics on the Monetary Policy Decision-Making Process’, Journal of Banking and Finance, 64, 216-231.
  • Apergis, N. (2015), ‘Forecasting Sovereign CDS Spreads with Newswire Messages: Evidence from European Countries under Financial Distress’, Economics Letters, 136, 92-94.
  • Apergis, N. and Cooray, A. (2015), ‘Old Wine in a New Bottle: Trade Openness and FDI Flow:  Are the Emerging Economies Converging?”, Contemporary Economic Policy, 34, 336-351.
  • Apergis, N. and Voliotis, D. (2015), ‘Spillover Effects between Lit and Dark Stock Markets: Evidence from a Panel of London Stock Exchange Transactions’, International Review of Financial Analysis, 41, 101-106.
  • Apergis, N. and Cooray, A. (2015), ‘Asymmetric Interest Rate Pass-Through in the U.S., the U.K., and Australia: New Evidence from Selected Individual Banks’, Journal of Macroeconomics, 45, 155-172.
  • Apergis, N. (2015), ‘Financial Portfolio Choice: Do Business Cycle Regimes Matter? Panel Evidence from International Household Surveys’, Journal of International Financial Markets, Institutions & Money, 34, 14-27.