Costas Milas

What moves markets more, Twitter or traditional news?

Twitter has become a key communication tool for world leaders, but how does the impact of tweets on financial markets compare to the impact of traditional news? Based on a new study, Costas Milas, Theodore Panagiotidis and Theologos Dergiades identify a clear link between movement in the financial markets and Twitter activity, raising questions about whether Twitter’s market power is a problem and requires regulation.

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    Fair or not? How credit rating agencies calculated their ratings during the Eurozone crisis

Fair or not? How credit rating agencies calculated their ratings during the Eurozone crisis

Credit rating agencies received a great deal of criticism during the Eurozone crisis, but what actually explains the changes that occur in a country’s credit rating? Drawing on new research, Periklis Boumparis, Costas Milas and Theodore Panagiotidis write that ratings agencies have responded differently to low-rated and high-rated Eurozone countries. Regulatory quality and competitiveness have a stronger impact for low […]

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“Berlusconi scandal” talk has inflated the Italian cost of borrowing over and above the impact of economic fundamentals

Have former Italian Prime Minister Silvio Berlusconi’s scandals and court cases had a significant effect on the cost of Italian borrowing? Costas Milas and Gabriella Legrenzi assess the impact of “Berlusconi scandals” on 10 year Italian bond yields by using data from Google search queries as a proxy for interest in Berlusconi’s troubles. They find that over the last four […]

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The biggest threat to Britain’s credit rating is a possible exit from the EU

In advance of David Cameron’s now postponed speech on Europe, Costas Milas explores the ramifications which the prospect of an exit from the EU might hold for the UK’s credit rating.  Prime Minister David Cameron is preparing for a major speech which is expected to shed some light on the future of Britain’s relationship with our European partners. There is speculation […]

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