Chletsos Theologos – Michail

Χλέτσος Θεολόγος - Μιχαήλ

Chletsos Theologos - Michail

Professor, Department of Economics


Teaching Field

Economic Analysis

Dr Michael Chletsos is Professor of Economic Analysis at the Department of Economics at the University of Piraeus. He is also  Director of the Master’s Program “Economics of Education and Management of Educational Units”. He received his Bachelor Degree in Economics from the Athens Economic University, Athens, Greece, his Master in Economics from the Institut d’Etudes du Developpement Economique et Social (IEDES) University of Paris I – Univerisity of Picardie – France and his PhD in Economics from the University Univerisity of Picardie – France. He is currently Director of the Postgraduate Programme “Economics of Education” of his Department.

He has also taught at the University of Thessaly, the University of Crete and the University of Ioannina. He was vice head of the Dept. of Economics and Director of the laboratory of Applied Economic and Social Policy at the University of Ioannina. He has served as Head of the department of Economics at the University of Ioannina for 4 years and Director of the graduate program in economics for the period 2003 – 2009 and from 2012 until 2018. He was also an academic member of the School of Economics and Business at the University of Ioannina. He also teaches at the Master’s Program “Management of Health Units” and the Master’s program “Management of Aging and Chronic Diseases” at the Hellenic Open University.  He is an active member in the Academic Committee of the Master’s program “Management of Aging and Chronic Diseases” at the Hellenic Open University.He has served as Director of the Master’s Program “Management of Aging and Chronic Diseases” for the period 2020 – 2022.

He was a senior researcher at the National Labour Institute and the Centre of Planning and Economic Research and Director of the Research Department of the Employment Observatory Research and Informatics S.A. He has been elected by Cedefop to serve as National Expert in skills forecasting and labour market developments. His research interests are: labour economics, public economics, health economics and economics of social protection, poverty and income inequalities, and economics of education.

He has participated in several international conferences and in various national and international projects concerning health issues, immigration issues, poverty and social exclusion issues, employment issues, labour market forecasts issues, the role of minimum wagd and labour market institutions, employment policies, pensions issues, minimum income schemes and social exclusion issues. He has been researcher in projects concerning health issues such as RT3S Micro – Health Economic Analysis, FP7, Report  on the Application of DRGs in Greece, “Analysis of the sources of revenues and developing mechanisms to monitor and control public expenditures” and “Monitoring financial protection in health systems: Developing new evidence in European countries. The case of Greece. He published various articles in international referred journals and he is author of books in the area of health economics, economics of social policy, public economics and labour economics (in Greek).

Undergraduate courses

  • Economics of Social Protection (4th semester) – elective
  • Economics of Education (5th semester) – elective
  • Economics of Poverty and Income Inequalities (8th semester) – elective
  • Economics II (2o semester) – mandatory (Department of Industrial Management & Technology)
  • Macroeconomics I (3o semester) – mandatory

Graduate courses

M.Sc. Economics of Education

  • Economics of Education (1st semester) – mandadory
  • Educational Policies and applications (2nd semester) – elective


Erasmus courses

    • Economics of Social Protection (4th semester) – elective
    • Economics of Education (5th semester) – elective
    • Economics of Poverty and Income Inequalities (8th semester) – elective

Publications in Referred Journals

  1. Roupakias, S., Chletsos, M. (2024). Immigration and the economic performance of countries, The Review of Development Economics, forthcoming
  2. Chletsos, M., Sintos, A. (2024). Political stability and financial Development: An empirical investigation, Quarterly Review of Economics and Finance 94 (2024) 252–266, published online.
  3. Sintos, A., Chletsos, M., Kontos, K. 2024. The political process in nations: Civil society participation and income inequality, Kyklos, published online
  4. Leontopoulou, S. & Chletsos, M. 2023. Intergenerational mobility and youth well-being in the context of the Greek socio-economic crisis, Social Indicators Research, published online : 22 October 2022
  5. Chletsos, M. & Sintos, A. 2022. The effects of IMF conditional programs on the unemployment rate, European Journal of Political Economy, published online : 5 August 2022.
  6. Chletsos, M. & Sintos, A. 2022. Financial development and income inequality: A meta-analysis, Journal of Economic Surveys, published online: 1 August 2022
  7. Chletsos, M. & Sintos, A. 2022. The effects of IMF programs on income inequality: A semiparametric treatment effects approach, International Journal of Development Issues, published online: 21 April 2022.
  8. Chletsos, M. & Sintos, A. 2021. Hide and seek: IMF intervention and the shadow economy, Structural Change and Economic Dynamics, 59, 292 – 319, published online : 10 September 2021.
  9. Chletsos, M. & Sintos, A. 2021. The effect of financial fragility on employment, Economic Modelling, 94, 104-120, published on line : 5 October 2020
  10. Chletsos, M. & Roupakias, S. 2020. Education and wage inequality before and during the fiscal crisis: A quantile regression analysis for Greece 2006-2016, Review of Development Economics, Published online : 7 July 2020
  11. Roupakias, S. & Chletsos, M. 2020. Immigration and far-right voting: Evidence from Greece, The Annals of Regional Science, Published online : 29 April 2020
  12. Saiti, A. & Chletsos, M. 2020. Opportunities in Higher Education for Young Refugees in Greece, Higher Edcuation Policy, Published online : 7 February 2020
  13. Chletsos, M. & Roupakias, S. 2019. Do immigrants compete with natives in the Greek labour market? Evidence from the skill-cell approach before and during the Great Recession, The B.E. Journal of Economic Analysis and Policy, De Gruyter, vol. 19(2), pages 1-30, April.
  14. Mylonidis, N., Chletsos, M. & Barbagianni, V. 2019. Financial exclusion in the USA: Looking beyond demographics, Journal of Financial Stability, 40 : 144-148
  15. Bagiatis, C., Saiti, A. & Chletsos, M. 2019. Entrepreneurship, economic crisis, and the role of higher education: Evidence from Greece, Industry & Higher Education, vol. 34, issue 3, 177-189, June 2020, Published online : 24 October 2019.
  16. Chletsos, M. & Roupakias, S. 2018. The effect of military spending on income inequality: Evidence from NATO countries, Empirical Economics, (published online: DOI: 10.1007/s00181-018-1576-7)
  17. Chletsos, M. & Roupakias, S. 2017. Defense Spending and Unemployment. Evidence from Southern European Countries, Peace Economics, Peace Science and Public Policy, 23(1): 1 – 36
  18. Chletsos, M. & Roupakias, S. 2017. Native – immigrant wage differentials in Greece : discrimination and assimilation, Applied Economics, vol. 49, No 17: 1732 – 1736
  19. Chletsos, M., Drosou, V. & Roupakias, S. 2016. Can Phillips curve explain the recent behavior of inflation? Further evidence from USA and Canada, Journal of Economic Asymmetries, 14: 20-28.
  20. Chletsos, M. & Kollias, C. 1997. Testing Wagner’s law using disaggregated public expenditure data in the case of Greece: 1958 – 1993”, Applied Economics, vol. 29, No 3: 371 – 377
  21. Chletsos, M. & Kollias, C. 1995. Defense spending and growth in Greece 1974 – 1990: some preliminary econometric results, Applied Economics, vol. 27, No 9 : 883 – 890


Book Chapters

1. Leontopoulou, S., Chletsos, M. (2022). Hope in the Face of the Greek Crisis: Intergenerational Echoes of Income and Parental Involvement in Emerging Adulthood. In: Leontopoulou, S., Delle Fave, A. (eds) Emerging Adulthood in the COVID-19 Pandemic and Other Crises: Individual and Relational Resources. Cross-Cultural Advancements in Positive Psychology, vol 17. Springer, Cham


Working Papers

  1. Chletsos, M. & Roupakias, S. Does homeownership matter for unemployment? Evidence from five decades, (with Michael Chletsos) (Working Paper, 2018)
  2. Chletsos, M. & Sintos, A. Investigating the relationship between firm characteristics, firing costs and employment growth in developing countries
  3. Chletsos, M. & Sintos, A. The impact of financial fragility on employment
  4. Chletsos, M. Mylonidis, N. & Sintos, A. The health effects of IMF – supported programs: A cross-country analysis
  5. Chletsos, M. & Sintos, A. The effects of IMF on income inequality: A semi-parametric treatment effects approach
  6. Chletsos, M. & Sintos, A. The effects of IMF conditional programs on unemployment rate
  7. Barmpagianni, V. & Chletsos, M. The impact of economic crisis on health status in Greece
  8. Barmpagianni, V. & Chletsos, M. The impact of the structural reforms of the Greek economy on the health status of unemployed
  9. Chletsos, M. & Exarchos, K. The impact of taxation on income inequality: Evidence from OECD countries during the period 1995 – 2013.


Supervision of PhD Theses (completed)

  1. Roupakias, S. 2012. Essays on the Economics of Immigration, Πανεπιστήμιο Ιωαννίνων
  2. Dimou, S. 2012. Essays in Health Economics, Πανεπιστήμιο Ιωαννίνων
  3. Giotis, G. 2014. Essays on labor economics: the employment effect of minimum wages, Πανεπιστήμιο Ιωαννίνων
  4. Sintos, A. 2021. Essays in Labour Economics (Χρηματοδοτούμενη από το ΙΚΥ), Πανεπιστήμιο Ιωαννίνων
  5. Barmpagianni, V. 2022. Essays in Health Economics (Χρηματοδοτούμενη από το ΕΛΙΔΕΚ), Πανεπιστήμιο Ιωαννίνων


Supervision of PhD Theses (in progress)

  1. Xydea, E. (2023 – present). Essays in labour Economics
  2. Stergiopoulou, E. (2022 – present). Economic impact on neighborhood in decline associated with social capital, University of Piraeus
  3. Kontos, K. (2021 – present). Topics on the economics of inequality, University of Piraeus
  4. Chounti, M. (2019 – present). Economic and social aspects of aging population, University of Piraeus
  5. Exarchos, K. (2017 – present). Essays in Public Economics, Πανεπιστήμιο Ιωαννίνων


Supervision of Post Doc Research (completed)

1. Roupakias, S. (2016 – 2019). Essays on the Economics of Immigration, Πανεπιστήμιο Ιωαννίνων

2. Tsarsitalidou, S. (2020 – 2023). The effect of foreign aid on institutions, University of Piraeus


Supervision of Post Doc Research (in progress)

1. Sintos, A. (2021 – present). The effect of job insecurity on households’ financial decisions, University of Piraeus

  1. Saiti, A., Chletsos, M.  (2024). Management and Economics of Education, Springer  International Publishing
  2. Chletsos, M. & Saiti, A. 2019. Strategic Management and Economics in Health Care, Springer International Publishing (forthcoming)
  3. Chletsos, M. 2011. Health Economics, Patakis Publishers, Athens (in greek)
  4. Chletsos, M. 2011. Economics of Social Protection, Patakis Publishers, Athens (in greek)
  5. Chletsos, M. 2008. From welfare to work. New Trends and Challenges in Social Protection, Kritiki Publishers, Athens (in greek)
  6. Dikaios, K. & Chletsos, M. 1999. Health Policy / Social Policy, vol. B, “Health services. Hospital, idiosyncrasies and challenges”, Hellenic Open University, Patra (in greek)
  7. Robolis, S & Chletsos, M. 1995. Social-Policy after the crisis of the welfare state, Paratiritis Publishers, Thessaloniki (in greek)


1. Chletsos, M. 2017. Health Economics, Hellenic Open University and University of Thessaly (in greek)

2. Chletsos, M. 2017. Insurrance Organizations – Support Structures, Hellenic Open University and University of Thessaly (in greek)



1. Palivos, T. & Chletsos, M. 2007. Employment Policies and Unemployment, No 13, Employment Observatory Research Infromatics S.A. (in greek)

2. Palivos, T. & Chletsos, M. 2006. Modeling the Greek Labour Market : Trends and Forecasts, No 5, Employment Observatory Research Infromatics S.A. (in greek)

Spring Semester 2023-2024

For students enrolled in “Economics of Social Protection”:

  • Wednesday 10:00 – 11:00
  • Thursday 11:00 – 12:00