Using monthly data on the stock price index of the Athens Stock Exchange over the period 1989-199... more Using monthly data on the stock price index of the Athens Stock Exchange over the period 1989-1998, we obtain evidence that a univariate Markov switching regimes process captures the dynamics of stock prices well, but it does not outperform a naive random walk model in out-of-sample forecasting. However, when we enlarge the information set with the GRD/$ exchange rate series, the bivariate Markov model gives consistently better out-of-sample forecasts, regardless of the forecast horizon and the post-sample period. These results suggest that information from the foreign exchange market is useful for stock price forecasting and that the Greek stock market is not weakly efficient.
This study evaluated the utility of electroencephalographic (EEG) measures as indices of regional... more This study evaluated the utility of electroencephalographic (EEG) measures as indices of regional cerebral engagement activation during reading in neurologically intact adult volunteers. EEG was recorded from 16 scalp locations as participants performed four visual detection tasks designed to tap into increasingly more complex operations regularly involved in reading, namely visual-spatial, orthographic, phonological, and semantic. EEG records were quantified using power spectrum measures in four frequency bands (delta, theta, alpha, beta1, and beta2), in addition to a non-linear estimate of signal complexity (prediction error). Results showed that (1) changes in spectral power between pairs of reading tasks, and (2) regional variations in EEG measures for each task, were restricted to signals recorded over the left hemisphere. These findings are in agreement with knowledge regarding left hemisphere involvement in higher level component processes of reading.
We contribute by approaching this epistemological question ontologically, i.e., by focusing on th... more We contribute by approaching this epistemological question ontologically, i.e., by focusing on the meaning of tax evasion whose causalities tested by the literature we also survey here. There could be no progress on the economic knowledge because axiological critic we use is self-complete and thus no-comparable. However, we certify through ontological considerations that Walrasian “private-individual” has no reason for not to tax evading if it can be possible. On the contrary, our “modern civilization”, on which economics is based, accepts as the supper need of this economic agent how to be wealth, a target which can be facilitated by tax evasion. This isolated individual is not “partner” of the society, he is not a “citizen”, and thus the “society” has no thesis in modern “representative democracy”, because it is not recognized as a statehood coherent entity. So, as we reject the autonomy of the economy from its social and political roots, nowadays we can understand why on the decline of the fair state, people react with corruption and tax evasion.
Using monthly data on the stock price index of the Athens Stock Exchange over the period 1989-199... more Using monthly data on the stock price index of the Athens Stock Exchange over the period 1989-1998, we obtain evidence that a univariate Markov switching regimes process captures the dynamics of stock prices well, but it does not outperform a naive random walk model in out-of-sample forecasting. However, when we enlarge the information set with the GRD/$ exchange rate series, the bivariate Markov model gives consistently better out-of-sample forecasts, regardless of the forecast horizon and the post-sample period. These results suggest that information from the foreign exchange market is useful for stock price forecasting and that the Greek stock market is not weakly efficient.
This study evaluated the utility of electroencephalographic (EEG) measures as indices of regional... more This study evaluated the utility of electroencephalographic (EEG) measures as indices of regional cerebral engagement activation during reading in neurologically intact adult volunteers. EEG was recorded from 16 scalp locations as participants performed four visual detection tasks designed to tap into increasingly more complex operations regularly involved in reading, namely visual-spatial, orthographic, phonological, and semantic. EEG records were quantified using power spectrum measures in four frequency bands (delta, theta, alpha, beta1, and beta2), in addition to a non-linear estimate of signal complexity (prediction error). Results showed that (1) changes in spectral power between pairs of reading tasks, and (2) regional variations in EEG measures for each task, were restricted to signals recorded over the left hemisphere. These findings are in agreement with knowledge regarding left hemisphere involvement in higher level component processes of reading.
We contribute by approaching this epistemological question ontologically, i.e., by focusing on th... more We contribute by approaching this epistemological question ontologically, i.e., by focusing on the meaning of tax evasion whose causalities tested by the literature we also survey here. There could be no progress on the economic knowledge because axiological critic we use is self-complete and thus no-comparable. However, we certify through ontological considerations that Walrasian “private-individual” has no reason for not to tax evading if it can be possible. On the contrary, our “modern civilization”, on which economics is based, accepts as the supper need of this economic agent how to be wealth, a target which can be facilitated by tax evasion. This isolated individual is not “partner” of the society, he is not a “citizen”, and thus the “society” has no thesis in modern “representative democracy”, because it is not recognized as a statehood coherent entity. So, as we reject the autonomy of the economy from its social and political roots, nowadays we can understand why on the decline of the fair state, people react with corruption and tax evasion.
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Papers by Dimitris M. Terzakis