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Research Output of CDMA Internal Fellows

Ordered by Publication Year:

 

Forthcoming [2003 | 2004 | 2005 | 2006 | 2007| 2008 | 2009 | 2010]


William A. Branch and George W. Evans, 'Learning about Risk and Return: A Simple Model of Bubbles and Crashes', forthcoming in American Economic Journal: Macroeconomics.

William A. Branch and George W. Evans, 'Monetary Policy and Heterogeneous Expectations', forthcoming in Economic Theory.

E. Papyrakis and G. Selvaretnam, 'The Greying Church: The Impact of Life Expectancy on Religiosity', forthcoming in the International Journal of Social Economics.

H. Rainer. G. Selvaretnam and D. Ulph, 'Assisted Reproductive Technologies (ART) in a model of fertility choice', forthcoming in the Journal of Population Economics.

George Evans and Bruce McGough, “Representations and Sunspot Stability”, forthcoming Macroeconomic Dynamics.

George Evans and Seppo Honkapohja, “Expectations, Deflation Traps and Macroeconomic Policy”, forthcoming in Twenty Years of Inflation Targeting: Lessons Learned and Future Prospects, edited by David Cobham, Øyvind Eitrheim, Stefan Gerlach and Jan F Qvigstad, Cambridge University Press, 2010, chapter 11, 232-260.

 

2010 [Top | 2003 | 2004 | 2005 | 2006 | 2007| 2008 | 2009]


Devereux, MB & Sutherland, A 2010, 'Country portfolio dynamics', Journal of Economic Dynamics and Control, Vol. 34, No. 7, pp. 1325-1342.

Blackburn, K & Forgues-Puccio, GF 2010, 'Financial liberalization, bureaucratic corruption and economic development', Journal of International Money and Finance, Vol. 29, No. 7, pp. 1321-1339.

Bhattacharjee, A, Chadha, JS & Sun, Q 2010, 'Productivity, Preferences and UIP Deviations in an Open Economy Business Cycle Model', Open Economies Review, Vol. 21, No. 3, pp. 365-391.

Damjanovic, T & Nolan, C 2010, 'Relative Price Distortions and Inflation Persistence', Economic Journal, Vol. 120, No. 547, pp. 1080 - 1099.

Damjanovic, T & Nolan, C 2010, 'Seigniorage-Maximizing Inflation under Sticky Prices', Journal of Money, Credit and Banking, Vol. 42, No. 2-3, pp. 503-519.

Damjanovic, T & Ulph, D 2010, 'Tax progressivity, income distribution and tax non-compliance', European Economic Review, Vol. 54, No. 4, pp. 594-607.

Devereux, MB & Sutherland, A 2010, 'Valuation effects and the dynamics of net external assets', Journal of International Economics, Vol. 80, No. 1, pp. 129-143.

George Evans, James Bullard and Seppo Honkapohja, “A Model of Near-Rational Exuberance”, Macroeconomic Dynamics, Vol. 14, 2010, 166-188.

George Evans and William Branch, “Asset Return Dynamics and Learning”, Review of Financial Studies, Vol. 23, 2010, 1651-1680.

George Evans and Bruce McGough, “Implementing Optimal Monetary Policy in New-Keynesian Models with Inertia”, The B. E. Journal of Macroeconomics (Topics), Vol. 10: Iss. 1, 2010, article 5.

George Evans, Seppo Honkapohja and Noah Williams, “Generalized Stochastic Gradient Learning”, International Economic Review, Vol. 51, 2010, 237-262.

George Evans, James Bullard and Seppo Honkapohja, “A Model of Near-Rational Exuberance”, Macroeconomic Dynamics, Vol. 14, 2010, 166-188.

George Evans and William Branch, “Asset Return Dynamics and Learning”, Review of Financial Studies, Vol. 23, 2010, 1651-1680.

 

2009 [Top | 2003 | 2004 | 2005 | 2006 | 2007| 2008| 2010]


Devereux, MB & Sutherland, A 2009, 'A portfolio model of capital flows to emerging markets', Journal of Development Economics, Vol. 89, No. 2, pp. 181-193.

Evans, GW, Honkapohja, S & Mitra, K 2009, 'Anticipated fiscal policy and adaptive learning', Journal of Monetary Economics, Vol. 56, No. 7, pp. 930-953.

McCrorie, JR 2009, 'ESTIMATING CONTINUOUS-TIME MODELS ON THE BASIS OF DISCRETE DATA VIA AN EXACT DISCRETE ANALOG', Econometric Theory, Vol. 25, No. 4, pp. 1120-1137.

Smith, I, Lasselle, L & Keir, F 2009, 'Enhancing Pupils’ Aspirations to University: The St Andrews Sutton Trust School Experience', Journal of Further and Higher Education , Vol. 33, No. 4, pp. 395.

Bhattacharjee, A, Higson, C, Holly, S & Kattuman, P 2009, 'Macroeconomic Instability and Business Exit: Determinants of Failures and Acquisitions of UK Firms', Economica, Vol. 76, No. 301, pp. 108-131.

Bhattacharjee, A, Higson, C, Holly, S & Kattuman, P 2009, 'Macroeconomic  Instability  and  Corporate  Failure: The Role of the Legal System', Review of Law and Economics, Vol. 5, No. 1, pp. Article 1.

Bhattacharjee, A, de Castro, E & Jensen-Butler, C 2009, 'Regional Variation in Productivity: A Study of the Danish Economy', Journal of Productivity Analysis, Vol. 31, No. 3, pp. 195-212.

Blackburn, K & Forgues-Puccio, GF 2009, 'Why is corruption less harmful in some countries than in others?', Journal of Economic Behavior and Organization, Vol. 72, No. 3, pp. 797-810.

George Evans and Seppo Honkapohja, “Learning and Macroeconomics”, Annual Review of Economics, Vol. 1, 2009, 421-449.

George Evans and Seppo Honkapohja, “Expectations, Learning and Monetary Policy: An Overview of Recent Research”, in Monetary Policy under Uncertainty and Learning, ed. by Klaus Schmidt- Hebbel and Carl Walsh,
2009, Central Bank of Chile, Santiago, pp. 27-76.

George Evans and Seppo Honkapohja, “Robust Learning Stability with Operational Monetary Policy Rules”, in Monetary Policy under Uncertainty and Learning, ed. by Klaus Schmidt-Hebbel and Carl Walsh, 2009, Central Bank of Chile, Santiago, pp. 145-170.

George Evans, William Branch, John Carlson and Bruce McGough, “Monetary Policy, Endogenous Inattention, and the Volatility Trade-off”, Economic Journal, Vol. 119, 2009, 123 – 157.

 

2008 [Top | 2003 | 2004 | 2005 | 2006 | 2007| 2009| 2010]


Senay, O & Sutherland, A 2008, 'A Quantitative Analysis of Cost-Push Shocks and Optimal Inflation Volatility', Applied Economics Letters, Vol. 15, No. 10, pp. 753-757.

Senay, O 2008, 'Disinflation and exchange-rate pass-through', Macroeconomic Dynamics, Vol. 12, No. 2, pp. 234-256.

Trew, A 2008, 'Efficiency, depth and growth: Quantitative implications of finance and growth theory', Journal of Macroeconomics, Vol. 30, pp. 1550-1568.

Devereux, MB & Sutherland, A 2008, 'Financial globalization and monetary policy', Journal of Monetary Economics, Vol. 55, No. 8, pp. 1363-1375.

Senay, O 2008, 'Interest rate rules and welfare in open economies', Scottish Journal of Political Economy, Vol. 55, pp. 300-329.

Nolan, C & Thoenissen, C 2008, 'Labour markets and firm-specific capital in new Keynesian general equilibrium models', Journal of Macroeconomics, Vol. 30, No. 3, pp. 817-843.

Damjanovic, T, Damjanovic, V & Nolan, C 2008, 'Unconditionally optimal monetary policy', Journal of Monetary Economics, Vol. 55, pp. 491-500.

George Evans and Avik Chakraborty, “Can Perpetual Learning Explain the Forward Premium Puzzle?”, Journal of Monetary Economics, Vol. 55, 2008, 477 –490.

George Evans, James Bullard and Seppo Honkapohja, “Monetary Policy, Judgment and Near-Rational Exuberance”, American Economic Review, Vol. 98,
2008, 1163 – 1177.

George Evans, Eran Guse and Seppo Honkapohja, “Liquidity Traps, Learning and Stagnation”, European Economic Review, Vol. 52, 2008, 1438 – 1463.

 

2007 [Top | 2003 | 2004 | 2005 | 2006 | 2008 | 2009 | 2010]


Lombardo, G & Sutherland, A 2007, 'Computing second-order-accurate solutions for rational expectation models using linear solution methods', Journal of Economic Dynamics and Control, Vol. 31, No. 2, pp. 515-530.

Bullard, J & Mitra, K 2007, 'Determinacy, learnability, and monetary policy inertia', Journal of Money, Credit and Banking, Vol. 39, No. 5, pp. 1177-1212.

Blackburn, K & Forgues Puccio, GF 2007, 'Distribution and Development in a Model of Misgovernance', European Economic Review, Vol. 51, No. 6, pp. 1534-1563.

Macmillan, P & Smith, I 2007, 'Explaining International Soccer Rankings', Journal of Sports Economics, Vol. 8, No. 2, pp. 202-213.

Shea, GS 2007, 'Financial Market Analysis Can Go Mad (in the Search for Irrational Behaviour During the South Sea Bubble)', Economic History Review, Vol. 60, No. 4, pp. 742-765.

Senay, O & Sutherland, A 2007, 'Foreign Money Shocks and the Welfare Performance of Alternative Monetary Policy Regimes', Scandinavian Journal of Economics, Vol. 109, No. 2, pp. 245-266.

McCrorie, JR & Chambers, MJ 2007, 'Frequency domain estimation of temporally aggregated Gaussian cointegrated systems', Journal of Econometrics, Vol. 136, No. 1, pp. 1-29.

Lasselle, L & Aloi, M 2007, 'Growth and Welfare Effects of Stabilizing Innovation Cycles', Journal of Macroeconomics, Vol. 29, No. 4, pp. 806-823.

Chadha, JS, Macmillan, P & Nolan, C 2007, 'Independence Day for the "Old Lady": A Natural Experiment on the Implications of Central Bank Independence', Manchester School, Vol. 75, No. 3, pp. 311-327.

Devereux, MB & Sutherland, A 2007, 'Monetary policy and portfolio choice in an open economy macro model', Journal of the European Economic Association, Vol. 5, pp. 491-499.

Bhattacharjee, A & Thoenissen, C 2007, 'Money and monetary policy in dynamic stochastic general equilibrium models', Manchester School, Vol. 75, No. S1, pp. 88-122.

Berument, H, Konac, N & Senay, O 2007, 'Openness and the Effectiveness of Monetary Policy: A Cross-Country Comparison', International Economic Journal, Vol. 21, pp. 577-591.

Senay, O & Sutherland, A 2007, 'Optimal monetary policy and the timing of asset trade in open economies', Economics Letters, Vol. 95, No. 2, pp. 297-302.

Chadha, JS & Nolan, C 2007, 'Optimal simple rules for the conduct of monetary and fiscal policy', Journal of Macroeconomics, Vol. 29, No. 4, pp. 665-689.

Ghosh, S & Nolan, C 2007, 'The impact of simple fiscal rules in growth models with public goods and congestion', Manchester School, Vol. 75, No. 5, pp. 634-651.

Shea, GS 2007, 'Understanding financial derivatives during the South Sea Bubble: the case of the South Sea subscription shares', Oxford Economic Papers, Vol. 59, No. 1, pp. 73-104.

George Evans and Seppo Honkapohja, “The E-Correspondence Principle”, Economica. Vol. 74, 2007, 33-50.

George Evans, Seppo Honkapohja and Ramon Marimon, “Stable Sunspot Equilibria in a Cash-in-Advance Economy”, The B. E. Journal of Macroeconomics, Vol. 7: Iss. 1 (Advances), 2007, Article 3.

George Evans and William Branch, “Model Uncertainty and Endogenous Volatility”, Review of Economic Dynamics, Vol. 10, 2007, 207-237.

George Evans and Bruce McGough, “Optimal Constrained Interest-rate Rules”, Journal of Money, Credit and Banking, Vol. 39, 2007, 1335 – 1356.

George Evans and Seppo Honkapohja, “Policy Interaction, Learning and the Fiscal Theory of Prices”, Macroeconomic Dynamics, Vol. 11, 2007, 665 – 690.

 

2006 [Top | 2003 | 2004 | 2005 | 2007 | 2008 | 2009 | 2010]


Damjanovic, V & Nolan, C 2006, 'Aggregation and Optimization with State-Dependent Pricing: A Comment', Econometrica, Vol. 74, No. 2, pp. 565-573.

Senay, O & Sutherland, A 2006, 'Can Endogenous Changes in Price Flexibility Alter the Relative Welfare Performance of Exchange Rate Regimes?', NBER International Seminar on Macroeconomics, Vol. 2004, pp. 371-400.

Sutherland, A 2006, 'Currency Crises and the Term Structure of Interest Rates', Open Economies Review, Vol. 17, No. 1, pp. 57-71.

Trew, AW 2006, 'Finance and Growth: A Critical Survey', Economic Record, Vol. 82, No. 259, pp. 481-490.

McCrorie, JR & Chambers, MJ 2006, 'Granger causality and the sampling of economic processes', Journal of Econometrics, Vol. 132, No. 2, pp. 311-336.

McCrorie, JR & Chambers, MJ 2006, 'Identification and estimation of exchange rate models with unobservable fundamentals', International Economic Review, Vol. 47, No. 2, pp. 573-582.

Honkapohja, S & Mitra, K 2006, 'Learning stability in economies with heterogeneous agents', Review of Economic Dynamics, Vol. 9, pp. 284-309.

Damjanovic, T 2006, 'On the Possibility of Pareto-Improving Pension Reform', Manchester School, Vol. 74, No. 6, pp. 711-724.

Lombardo, G & Sutherland, A 2006, 'Policy Instrument Choice and Non-Coordinated Monetary Policy in Interdependent Economics', Journal of International Money and Finance, Vol. 25, No. 6, pp. 855-873.

Damjanovic, T & Nolan, C 2006, 'Some Welfare Implications of Optimal Stablisation Policy in an Economy with Capital and Sticky Prices', Scottish Journal of Political Economy, Vol. 53, No. 1, pp. 47-71.

Nicolae, A & Nolan, C 2006, 'The Impact of Imperfect Credibility in a Transition to Price Stability', Journal of Money, Credit and Banking, Vol. 38, No. 1, pp. 47-66.

Sutherland, A 2006, 'The expenditure switching effect, welfare and monetary policy in a small open economy', Journal of Economic Dynamics and Control, Vol. 30, No. 7, pp. 1159-1182.

George Evans and William A. Branch, “Intrinsic Heterogeneity in Expectation Formation”, Journal of Economic Theory. Vol. 127, 2006, 264-295.

George Evans and Garey Ramey, “Adaptive Expectations, Underparameterization and the Lucas Critique”, Journal of Monetary Economics, Vol. 53, 2006,
249-264.

George Evans and Seppo Honkapohja, “Monetary Policy, Expectations and Commitment”, Scandinavian Journal of Economics, Vol. 108, 2006, pp.
15-38.

George Evans and William Branch, “A Simple Recursive Forecasting Model”,
Economics Letters, Vol. 91, No. 2, 2006, pp. 158-166.

George Evans,  Klaus Adam and Seppo Honkapohja, “Are Hyperinflation Paths Learnable?”, Journal of Economic Dynamics and Control, Vol. 30, 2006,
2725-2748.

2005 [Top | 2003 | 2004 | 2006 | 2007 | 2008 | 2009 | 2010]


McCrorie, JR & Jewitt, G 2005, 'Computing estimates of continuous time macroeconometric models on the basis of discrete data', Computational Statistics and Data Analysis, Vol. 49, No. 49, pp. 397-416.

Sutherland, A 2005, 'Cost-Push Shocks and Monetary Policy in Open Economies', Oxford Economic Papers, Vol. 57, No. 1, pp. 1-33.

Thoenissen, C, Driver, R & Sinclair, P 2005, Exchange Rates, Capital Flows and Policy, Routledge.

Sutherland, A 2005, 'Incomplete Pass-Through and the Welfare Effects of Exchange Rate Variability', Journal of International Economics, Vol. 65, No. 2, pp. 375-399.

Mitra, K 2005, 'Is more data better?', Journal of Economic Behavior and Organization, Vol. 56, No. 2, pp. 263-272.

Thampanishvong, K, Miller, M & Zhang, L 2005, 'Learning to Trust Lula: Contagion and Political Risk in Brazil', In Giavazzi, F, Goldfajn, I & Herrera, S (Eds.), Inflation Targeting, Debt, and the Brazilian Experience ,1999 to 2003, MIT Press, pp. 227-257.

Damjanovic, T 2005, 'Lorenz dominance for transformed income distributions: a simple proof', Mathematical Social Sciences, Vol. 50, No. 2, pp. 234-237.

Lasselle, L & Svizzero, S 2005, 'On the Existence of a Cournot Equilibrium with Endogenous Income', Trends in Macroeconomics Research, Nova Publishers, pp. 35-52.

Honkapohja, S & Mitra, K 2005, 'Performance of inflation targeting based on constant interest rate projections', Journal of Economic Dynamics and Control, Vol. 29, No. 11, pp. 1867-1892.

Mitra, K & Honkapohja, S 2005, 'Performance of monetary policy with internal central bank forecasting', Journal of Economic Dynamics and Control, Vol. 29, No. 4, pp. 627-658.

Thoenissen, C 2005, 'Real exchange rates, current accounts and the net foreign asset position', In Driver, R, Sinclair, P & Thoenissen, C (Eds.), Exchange Rates, Capital Flows and Policy, Routledge, pp. 224-242.

Lasselle, L, Svizzero, S & Tisdell, C 2005, 'Stability and Cycles in a Cobweb Model with Heterogeneous expectations', Macroeconomic Dynamics, Vol. 9, No. 5, pp. 630-650.

Lasselle, L, Tisdell, C & Svizzero, S 2005, 'The European Employment Strategy in the Light of Globalisation: its Origin and its Effectiveness',In “Globalisation and World Economic Policies”, Serials Publications, New Delhi, pp. 89-109.

Senay, O & Sutherland, A 2005, 'The Expenditure Swtiching Effect and Fixed versus Floating Exchange Rates', In Driver, R, Sinclair, P & Thoenissen, C (Eds.), Exchange Rates and Capital Flows, Routledge, pp. 58-76.

George Evans and Bruce McGough, “Stable Stationary Sunspot Equilibria with Predetermined Variables”, Journal of Economic Dynamics and Control Vol.
29, 2005, 601-625.

George Evans and Seppo Honkapohja, “Policy Interaction, Expectations and the Liquidity Trap”, Review of Economic Dynamics Vol. 8, 2005, 303-323.

George Evans and Roger Guesnerie, “Coordination on Saddle Path Solutions: the Eductive Viewpoint -linear multivariate models”, Journal of Economic Theory, Vol. 124, 2005, 202-229.

George Evans and Bruce McGough, “Monetary Policy, Indeterminacy and Learning”, Journal of Economic Dynamics and Control, Vol. 29, 2005, 1809-1840.

George Evans and Bruce McGough, “Monetary Policy and Stable Indeterminacy with Inertia”, Economics Letters, Volume 87, 2005, pp. 1-7.

George Evans and Bruce McGough, “Indeterminacy and the Stability Puzzle in Non-Convex Economies”, The B. E. Journal of Macroeconomics (Contributions),
2005, Vol. 5: Iss. 1, Art. 8.

 

2004 [Top | 2003 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010]


Mitra, K & Honkapohja, S 2004, 'Are non-fundamental equlibria learnable in models of monetary policy?', Journal of Monetary Economics, Vol. 51, No. 8, pp. 1743-1770.

Bhattacharjee, A 2004, 'Estimation in Hazard Regression Models under Ordered Departures from Proportionality', Computational Statistics and Data Analysis, Vol. 47, No. 3, pp. 517-536.

Lasselle, L, Svizzero, S & Tisdell, C 2004, 'Globalisation and the Nature of Unemployment', Economic Globalisation: Social Conflicts, Labour and Environmental Issues, pp. 186-209.

Ghosh, D, Levin, E, Macmillan, P & Wright, R 2004, 'Gold as an Inflation Hedge?', Studies in Economics and Finance, Vol. 22, No. 1, pp. 1-25.

Chadha, JS & Nolan, C 2004, 'Interest rate bounds and fiscal policy', Economics Letters, Vol. 84, No. 1, pp. 9-15.

Lasselle, L, Tisdell, C & Svizzero, S 2004, 'Is Regionalism the Outcome of Insufficient or Excessive Globalisation?', Economic Globalisation: Social Conflicts, Labour and Environmental Issues, pp. 53-68.

Ozkan, G, Sibert, A & Sutherland, A 2004, 'Monetary Union and the Maastricht Inflation Criterion: The Accession Countries', The Economics of Transition, Vol. 12, pp. 635-652.

Lombardo, G & Sutherland, A 2004, 'Monetary and Fiscal Interactions in Open Economies', Journal of Macroeconomics, Vol. 26, pp. 319-348.

Chadha, JS & Nolan, C 2004, 'Output, Inflation and the New Keynesian Phillips Curve', International Review of Applied Economics, Vol. 18, No. 3, pp. 271-287.

Kattuman, P & Bhattacharjee, A 2004, 'Software in India: Development Implications of Globalization and the International Division of Labor', In Kagami, M, Tsuji, M & Giovannetti, E (Eds.), missingData, Edward Elgar, pp. 92-113.

Senay, O & Sutherland, A 2004, 'The Expenditure Switching Effect and the Choice Between Fixed and Floating Exchange Rates', In Driver, R, Sinclair, P & Thoenissen, C (Eds.), Exchange Rates, Capital Flows and Policy, Routledge.

Cobham, D, Macmillan, P & Mcmillan, DG 2004, 'The inflation/output variability trade-off: further evidence', Applied Economics Letters, Vol. 11, No. 6, pp. 347-350.

Lasselle, L, Svizzero, S & Tisdell, C 2004, 'Unequal Economic Gains of Nations from Globalisation', Economic Globalisation: Social Conflicts, Labour and Environmental Issues, pp. 71-86.

 

2003 [Top | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010]


Chadha, JS, Muscatelli, V & Nolan, C 2003, ''Policy Rules-the Next Steps'-Scottish Journal of Political Economy Special Issue', Scottish Journal of Political Economy, Vol. 50, No. 5, pp. i-iii.

Mitra, K 2003, 'Desirability of Nominal GDP Targeting under Adaptive Learning', Journal of Money, Credit and Banking, Vol. 35, No. 2, pp. 197-220.

Altug, S, Chadha, JS & Nolan, C 2003, Dynamic Macroeconomic Analysis, Cambridge University Press.

Benigno, G & Thoenissen, C 2003, 'Equilibrium Exchange Rates and Supply-Side Performance', Economic Journal, Vol. 113, No. 486, pp. 103-124.

Honkapohja, S & Mitra, K 2003, 'Learning with bounded memory in stochastic models', Journal of Economic Dynamics and Control, Vol. 27, No. 8, pp. 1437-1457.

Chadha, JS & Nolan, C 2003, 'On the interaction of monetary and fiscal policy', In Chadha, J & Nolan, C (Eds.), Dynamic macroeconomic analysis: theory and policy in general equilibrium, Cambridge University Press.

Bhattacharjee, A & Ghosh, S 2003, 'Strikes and Public Policy: Indian Evidence', Indian Journal of Labour Economics, Vol. 46, No. 4, pp. 725-736.

McCrorie, JR 2003, 'Testing the unit root hypothesis from the prespective of Fisher information', American Statistical Association, pp. 286-289.

Damjanovic, T & Pastor, G 2003, 'The Russian Financial Crisis and its Consequences for Central Asia', Emerging Markets Finance & Trade, Vol. 39, No. 3, pp. 79-104.

McCrorie, JR 2003, 'The problem of aliasing in indentifying finite parameter continuous time stochastic models', Acta Applicandae Mathematicae, Vol. 79, No. 79, pp. 9-16.

 

Information [Top]

For further information, for copies of papers in these series, or to subscribe to e-mail notification, contact:

Jinyu Chen
Castlecliffe, School of Economics and Finance
University of St Andrews, Fife, KY16 9AL
Scotland, UK

Email: jc736@st-andrews.ac.uk
Tel: +44 (0) 1334 462445;
Fax: +44 (0) 1334 462444.

 

 

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