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Dr Yiannis Vailakis

Dr Yiannis Vailakis

Associate Professor of Economics

4436

Streatham Court 1.32

Yiannis Vailakis joined the Department of Economics at the University of Exeter in September 2006 after completing his Marie-Curie fellowship at the University of Sorbonne. He gained his PhD at the Université Catholique de Louvain in November 2003.

Nationality: Greek

Qualifications

  • BSc (Athens University of Business and Economics)
  • MSc (University of Essex)
  • PhD (Université Catholique de Louvain)

Administrative responsibilities

  • Organiser of the seminar series of the Department of Economics (2007-2011)

Research

Research interests

  • Microeconomic theory: General equilibrium theory
  • Macroeconomic theory: Growth theory, Dynamic programming

Dr Vailakis’s research interests cover general equilibrium theory, macroeconomics and optimisation with applications to economic theory. His work on general equilibrium includes the exploration of models with asymmetric information, transaction costs, endogenous borrowing constraints, default and collateral. His work on macroeconomics involves the analysis of dynamic general equilibrium models that depart from the standard neoclassical framework in various aspects (endogenous and embodied technological progress, heterogeneous agents, recursive preferences). His work on optimisation covers dynamic programming and fixed point theory.

Research projects

Dr Vailakis has recently been working on general equilibrium models that explore the implications of default and collateral in financial markets. Emphasis has been given to model default and collateral in environments where agents have divergent and possibly incorrect beliefs about endogenous economic variables, as well to extend the existing literature in a direction (infinite horizon setting) that makes the models tractable to many practitioners in applied macroeconomics.

Key publications | Publications by category | Publications by year

Key publications


Vailakis I, Martins da Rocha F (In Press). Endogenous debt constraints in collateralized economies with default penalties. Journal of Mathematical Economics Abstract.  Full text.
Vailakis I, Martins-da-Rocha F (In Press). Harsh default penalties lead to Ponzi schemes: a counterexample. Games and Economic Behaviour Abstract.  Full text.
Martins-da-Rocha F, Vailakis Y (2010). EXISTENCE AND UNIQUENESS OF a FIXED-POINT FOR LOCAL CONTRACTIONS. Econometrica, 78(3), 1127-1141. Abstract.
Martins-da-Rocha F, Vailakis Y (2010). Financial markets with endogenous transaction costs. Economic Theory, 1(45), 65-97. Abstract.

Publications by category


Journal articles

Vailakis I, Martins da Rocha F (In Press). Endogenous debt constraints in collateralized economies with default penalties. Journal of Mathematical Economics Abstract.  Full text.
Vailakis I, Martins-da-Rocha F (In Press). Harsh default penalties lead to Ponzi schemes: a counterexample. Games and Economic Behaviour Abstract.  Full text.
Martins-da-Rocha F, Vailakis Y (2010). EXISTENCE AND UNIQUENESS OF a FIXED-POINT FOR LOCAL CONTRACTIONS. Econometrica, 78(3), 1127-1141. Abstract.
Martins-da-Rocha F, Vailakis Y (2010). Financial markets with endogenous transaction costs. Economic Theory, 1(45), 65-97. Abstract.
Vailakis Y, Martins-da-Rocha F, Daher W (2007). Asset market equilibrium with short-selling and differential information. Economic Theory, 1(32), 425-446.
Le Van C, Nguyen MH, Vailakis Y (2007). Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor. Journal of Mathematical Economics, 43(3-4), 287-317. Abstract.
Le Van C, Vailakis Y (2005). Recursive utility and optimal growth with bounded or unbounded returns. Journal of Economic Theory, 123(2), 187-209. Abstract.
Le Van C, Vailakis Y (2003). Existence of a competitive equilibrium in a one sector growth model with heterogeneous agents and irreversible investment. Economic Theory, 22(4), 743-771. Abstract.

Publications by year


In Press

Vailakis I, Martins da Rocha F (In Press). Endogenous debt constraints in collateralized economies with default penalties. Journal of Mathematical Economics Abstract.  Full text.
Vailakis I, Martins-da-Rocha F (In Press). Harsh default penalties lead to Ponzi schemes: a counterexample. Games and Economic Behaviour Abstract.  Full text.

2010

Martins-da-Rocha F, Vailakis Y (2010). EXISTENCE AND UNIQUENESS OF a FIXED-POINT FOR LOCAL CONTRACTIONS. Econometrica, 78(3), 1127-1141. Abstract.
Martins-da-Rocha F, Vailakis Y (2010). Financial markets with endogenous transaction costs. Economic Theory, 1(45), 65-97. Abstract.

2007

Vailakis Y, Martins-da-Rocha F, Daher W (2007). Asset market equilibrium with short-selling and differential information. Economic Theory, 1(32), 425-446.
Le Van C, Nguyen MH, Vailakis Y (2007). Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor. Journal of Mathematical Economics, 43(3-4), 287-317. Abstract.

2005

Le Van C, Vailakis Y (2005). Recursive utility and optimal growth with bounded or unbounded returns. Journal of Economic Theory, 123(2), 187-209. Abstract.

2003

Le Van C, Vailakis Y (2003). Existence of a competitive equilibrium in a one sector growth model with heterogeneous agents and irreversible investment. Economic Theory, 22(4), 743-771. Abstract.

Awards and Honours

    • 2010-2012: ERC Starting Grants, ‘Default and Collateral in Financial Markets’, FP7 ‘Ideas’ specific program
    • 2004-2006: Postgraduate Marie Curie fellowship, Marie Curie Actions Intra-European fellowships, FP6 Human Capital Mobility Program
    • 1999-2004: Graduate studies fellowship, Belgian Ministry of Scientific Research

  • General equilibrium
  • Macroeconomics
  • Optimisation

Taught modules

Modules

2015/16

Information not currently available