Theofanis Papamichalis

Theofanis (Fanis) Papamichalis’s research, both empirical and theoretical, lies at the intersection of macroeconomics and finance. One strand of his work examines the role of optimism in shaping macroeconomic and asset return dynamics, with a particular focus on how optimism can accelerate the onset and prolong the duration of recessions. A second strand investigates the relationship between cross-sectional and time-series stock market returns, establishing a sentiment-driven inverse relationship between stock market anomalies and aggregate returns. In addition, his work in political economy demonstrates and econometrically investigates why unified U.S. governments are associated with higher excess returns and stronger annual real growth.

Previously, Fanis was an Assistant Teaching Professor in Economics at the University of Cambridge, where he taught multiple courses in macroeconomics and financial economics.