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This paper presents an extensive comparison between public and private natural gas-fired units in managing the unit commitment problem in the context of the Greek electricity market. Using a unique hourly dataset from 2015-2019, our approach utilizes risk-weighted performance metrics--Cash Flows at Risk (CFaR) and Risk Weighted Return (RWR)--to analyze performance across the public and private units. Empirical findings indicate that publicly owned natural gas-fired units outperform privately owned natural gas-fired units in terms of operational efficiency, however the efficiency of privately owned natural gas-fired units is growing at a faster pace and is expected to surpass the efficiency of public units within 2 or 3 years. Keywords: Electricity market modeling, Combined cycle gas turbines, Unit commitment problem, Risk weighted return, 1. INTRODUCTION In the context of the ongoing 'Energy Transition' and decarbonization, natural gas is widely considered as the bridging fuel for the transition from conventional to renewable energy forms [...]

Byline: Kyriaki Kosmidou, Constantin Zopounidis This paper examines the problem of bank failure and proceeds to the development of bank failure prediction models based on a multicriteria decision technique, namely UTilites Additives DIScriminantes (UTADIS). A sample data of US banks for the years 1993-2003 is used to develop a model that discriminates between the failed and non-failed banks. Although many studies have been developed examining the problem of bank failure prediction, it is the first time that a multicriteria technique is used in this specific field. The obtained results are quite efficient for the evaluation of bank failure, providing errors of 20% grade for at least four years before the failure. Moreover, the results indicate that the multicriteria approach UTADIS outperforms the traditional multivariate data analysis techniques such as discriminant analysis, supporting the fact that the multicriteria techniques could be used efficiently for the bank failure prediction problem.

The recent European Sovereign Debt Crisis brought in attention a number of structural problems in the European Union. Part of the effort to correct these problems in the countries that were mostly affected by the crisis were a number of policy responses from the European Union, the European Central Bank, the International Monetary Fund and the Local Governments. In this study, we attempt to assess the success of these responses to constrain the contagion of the crisis from the banking sector to the real economy sectors of the Eurozone countries. Our results show that policy announcements from the EU/ECB/IMF affect the transmission of shocks generated in the banking sector to the market. Moreover, policy responses of the national governments also seem to play a role in the contagion of the crisis. [ABSTRACT FROM AUTHOR]

We use quarterly data from Greece over the period 1997:1-2015:2 and investigate the dynamic linkages between the price of the real estate market and the price of the stock market focusing on two transmission mechanisms, namely the wealth and credit-price effects. The empirical analysis employs advanced methodological techniques and presents evidence supporting the existence of both the wealth effect and the credit effect in the long-run while in the short-run there is a one-way causal effect running from stock market towards house market. Results reveal asymmetric adjustment to equilibrium process and considerably stronger for positive deviations from the equilibrium. [ABSTRACT FROM AUTHOR]