Homepage Slider

Apostolos Fasianos

Email Address: 
Dr. Stephen Kinsella
Working Title of Thesis: 
Debt and Demography in the European Periphery

My thesis is part of a broader project on the links between debt and demography in the periphery of the European Union. Peripheral European States have an overhang of debt. The stock of debt combined with the flows of debt servicing payments are retarding growth and delaying recovery. At the same time the population of these countries ages, implying stagnating workforces and higher public expenditure to maintain the current levels of health and pension benefits. Most empirical approaches assume this debt is held at an aggregate level, by a sector, or indeed by the economy as a whole. Rather than examining debt sector by sector (households, banks, governments, central banks.), it makes sense to look at debt held by different age groups across different peripheral countries. We explore the evolution of demography and debt in the European periphery of Ireland, Spain, Portugal, Italy, and Greece with different approaches. For my thesis, I employ micro-econometric models to explore the determinants of household debt across demographic groups at the micro level and agent-based demographic models to explore the links between public debt and population change at both the micro and the macro level. The project will inform policy makers across the economic, financial, and social spheres, in areas as diverse as sovereign debt modelling, pension policy reform, debt restructuring, the relation between assets and income, inter- and intra-generational inequality, and the structure of social relations.

Publications/presentations to date: 

Williams, Dominic, and Apostolos Fasianos. "State aid 2000 - 2010: The UK Experience." Local Economy (Sage). 26.6-7 (2011): 532-544.
Fasianos, (2015, June). A Simple Agent-Based Approach to Model the Ageing Impact on Public Debt with Innovation. Poster presented at the Agent Based Modelling Workshop, KU Leuven, Belgium
Fasianos, (2015, May). Household Indebtedness and Financial Fragility Across Age Cohorts, Evidence From European Countries. Paper presented at the 2015 Irish Economic Association Conference, May 2015, Dublin, Ireland
Fasianos, (2014, October). Household Indebtedness and Financial Fragility Across Age Cohorts, Evidence From European Countries. Paper presented at the 18th Macroeconomic Policy Insitute (IMK) at the Hans-Boeckler-Foundation, Research Network Macroeconomics and Macroeconomic Policies (FMM) conference: "Inequality and the Future of Capitalism", October 2014, Berlin

household debt, public debt, ageing, micro-econometrics, agent-based modelling
Details of any scholarships/funding received: 
Institute for New Economic Thinking
First Name: 
Last Name: