Professor Yiannis Vailakis
- Professor in Economics (Economics)
Yiannis Vailakis joined the Department of Economics at the University of Glasgow in May 2013. He has held positions at the University of Exeter (Lecturer and Associate Professor, September 2006 - May 2013) and the University of Sorbonne (Marie-Curie fellow, June 2004 - June 2006). He gained his PhD at the Université Catholique de Louvain in 2004.
Yiannis is a member of the Applied Economics research cluster.
Areas of expertise:
- Economic Theory
- General Equilibrium
- Financial Economics
- Sovereign Debt
Dr Vailakis’s research interests cover general equilibrium theory, macroeconomics and optimisation with applications to economic theory. His work on general equilibrium and macroeconomics includes the exploration of models with asymmetric information, transaction costs, endogenous borrowing constraints, limited commitment and sovereign debt. His work on optimisation covers dynamic programming and fixed point theory.
- Bloise, G. and Vailakis, Y. (2022) On sovereign default with time-varying interest rates. Review of Economic Dynamics, 44, pp.211-224.
- Bloise, G., Polemarchakis, H. and Vailakis, Y. (2021) Sustainable debt. Theoretical Economics, 16(4), pp. 1513-1555.
- Le Van, C., Navrouzoglou, P. and Vailakis, Y. (2019) On endogenous formation of price expectations. Games and Economic Behavior, 115, pp. 436-458.
- Bloise, G. and Vailakis, Y. (2018) Convex dynamic programming with (bounded) recursive utility. Journal of Economic Theory, 173, pp. 118-141.
- Martins-da-Rocha, V. F. and Vailakis, Y. (2017) On the sovereign debt paradox. Economic Theory, 64(4), pp. 825-846.
- Bloise, G., Polemarchakis, H. and Vailakis, Y. (2017) Sovereign debt and incentives to default with uninsurable risks. Theoretical Economics, 12(3), pp. 1121-1154.
- Martins-da-Rocha, V. F. and Vailakis, Y. (2017) Borrowing in excess of natural ability to repay. Review of Economic Dynamics, 23, pp. 42-59.
- Martins-da-Rocha, V.F. and Vailakis, Y. (2012) Harsh default penalties lead to Ponzi schemes: a counterexample. Games and Economic Behavior, 75(1), pp. 277-282.
- Martins-da-Rocha, V.F. and Vailakis, Y. (2010) Existence and uniqueness of a fixed point for local contractions. Econometrica, 78(3), pp. 1127-1141.
- Le Van, C. and Vailakis, Y. (2005) Recursive utility and optimal growth with bounded or unbounded returns. Journal of Economic Theory, 123(2), pp. 187-209.
2019: Visiting Professor at Australian National University (July-September, 5000AUD).
2016-2019: Agence National de la Recherche (ANR) research grant (co-investigator) Project: Financial and Real Interdependencies: Volatility, International Openess and Economic Policies (298.355 EUR)
2012-2015: Agence National de la Recherche (ANR) research grant (co-investigator) Project: Towards New Tools for Time Dimensions in Models of Economics (300.000 EUR)
2010-2012: ERC Starting Grant, FP7 program (principal investigator) Project: Default and Collateral in Financial Markets (156.538 EUR)
2004-2006: Postgraduate Marie Curie fellowship, Marie Curie Actions Intra-European fellowships FP6 Human Capital Mobility Program
Yannis is interested in supervising students on the following topics:
- General equilibrium theory
- Sovereign debt
- Dynamic programming.
Current PhD students
University of Glasgow, Department of Economics, Course Convenor for the following courses:
- Economics 1A (ECON1001), 2017-
- Economics 1B (ECON1002), 2014-2019
- Corporate Finance Theory (ECON5075), 2014-2016
- Topics in Macroeconomic Theory 1 (ECON5097), 2017-2019.
University of Exeter, Department of Economics, Course convenor for the following courses:
- Intermediate Macroeconomics (BEE2018, BEE2023), 2007-2011
- Macroeconomics of Money and Financial Markets (BEEM 120), 2008-2012
- Advanced Macroeconomics (BEEM100), 2007-2010
- Growth and Development (BEEM106), 2007-2009
- Advanced Mathematics for Economists (BEE3054), 2011-2012.
- Journal of Mathematical Economics, May 2013-
- Economic Theory, January 2015-
- Journal of Economic Theory
- Games and Economic Behavior
- Theoretical Economics
- International Economic Review
- Journal of Mathematical Economics
- Economic Theory
- European Economic Review
- B.A Journal of Theoretical Economics
- Economics Letters
- Journal of Macroeconomics
- Macroeconomic Dynamics
- Journal of Public Economic Theory
- Journal of Dynamics and Games
- Mathematical Social Sciences
- Australian National University, July-September 2019
- Yeshiva University, April 2018
- Virginia Tech, October 2017
- University of Paris-Dauphine, May 2017
- Yeshiva University, May 2016
- Kobe University, November 2015
- University of Paris-Dauphine, June-July 2015
- Yeshiva University, March 2015
- Kobe University July 2014
- University of Evry, May-June 2013
- University of Illinois Urbana-Champaign, September 2012
- University of South California, April 2011
- Arizona State University, April 2011
- University of California Davis, March-May 2011
- Arizona State University, January 2009
- Nova University, Portugal, March 2006
- Arizona State University, March 2005
- University of Alabama, November 2002
- Organiser for the European Workshop on General Equilibrium Theory (Glasgow, 16-18 June 2016)
- Organiser for the Workshop on Recursive Methods in Economic Dynamics (Glasgow, 5-6 June 2014)
- Organiser for the Glasgow SIRE Workshop on Microeconomic Theory (Glasgow, 29-30 November 2013)
- Organiser for the European Workshop on General Equilibrium Theory (Exeter, 31 May-2 June 2012)
- Organiser for the Workshop on Economic Theory (Exeter, 9-11 September 2011)