Publications

RECENT PUBLICATIONS OF MEMBERS (FURTHER DETAILS ON THEIR WEBPAGES):

Allington, N.F.B. and Thompson, N. (2008), English, Irish and Subversives Amongst the Dismal Scientists, Special issue of the Journal for Research in the History of Economic Thought and Methodology and then to be published as a book.

Allington, N.F.B. (2008), "John Rooke: Rent, Money and Repeal of the Corn Laws", in Allington, N.F.B. and Thompson, N. (2008) English, Irish and Subversives Amongst the Dismal Scientists, JAI Press.

Allington, N.F.B. and McCombie, J.S.L (2007), "Nonsense Upon Stilts: An Assessment of the European Stability and Growth Pact and How It Might be Reformed", in McCombie, J.S.L. and Gonzalez, C.R., The European Union: Current Problems and Prospects, Palgrave McMillan.

Allington, N.F.B. and McCombie, J.S.L. (2007), Editors of The Cambridge Handbook of Applied Economics, Two volumes, Cambridge University Press.

Allington, N.F.B. and McCombie, J.S.L (2007), "The Causes and Consequences of the South East Asian and Other Financial Crises", in Allington, N.F.B. and McCombie, J.S.L. The Cambridge Handbook of Applied Economics Volume I, Cambridge University Press.

Allington, N.F.B. and McCombie, J.S.L. (2007), "Economic and Monetary Union", in Allington, N.F.B. and McCombie, J.S.L. The Cambridge Handbook of Applied Economics Volume I, Cambridge University Press.

Allington, N.F.B. (2007), "Nominal Convergence, Real Convergence and the Single European Currency", in Allington, N.F.B. and McCombie, J.S.L. The Cambridge Handbook of Applied Economics Volume I, Cambridge University Press.

Allington, N.F.B. and McCombie, J.S.L. (2007), "The Stability and Growth Pact and the Permanent Balance Rule", in Allington, N.F.B. and McCombie, J.S.L. The Cambridge Handbook of Applied Economics Volume I, Cambridge University Press.

Allington, N.F.B. and McCombie, J.S.L. (2006), "Economic Growth, β and σ Convergence in Selected Transition Economies and the European Union", P. Arestis, M. Baddeley and J.S.L. McCombie, Economic Growth: New Directions in Theory and Policy, Edward Elgar.

Allington, N.F.B. (2006), "One Market One Money: One Price for Goods and Services in the Eurozone", Quarterly Economic Bulletin, pp.20-24.

Dr Michael G Arghyrou, Government solvency: Revisiting some EMU countries (with Kul Luintel), Journal of Macroeconomics, vol. 29, June 2007, pp. 387-410.

Dr Michael G Arghyrou, Testing for Purchasing Power Parity correcting for non normality using the wild bootstrap (with Andros Gregoriou), Economics Letters, vol. 95, May 2007, pp. 285-290.

Dr Michael G Arghyrou, The price effects of joining the Euro: Modelling the Greek experience using non-linear price-adjustment models, Applied Economics, vol. 39, March 2007, pp. 493-503.

Dr Michael G Arghyrou, Non-linear and non-symmetric exchange-rate adjustment: evidence from medium- and high inflation countries (with Christopher Martin and Virginie Boinet), Journal of Economics and Finance, vol. 30 (1), Spring 2006, pp. 38-56.

Dr Michael G Arghyrou, Non-linear inflationary dynamics: evidence from the UK (with Costas Milas and Christopher Martin), Oxford Economic Papers, vol. 57 (1), January 2005, pp. 51-69.

Helmuts Azacis and David Collie (2007), 'The Optimality of Optimal Punishments in Cournot Supergames', Economics Letters, forthcoming.

David Collie and Hylke Vandenbussche (2006), 'Tariffs and the Byrd Amendment', European Journal of Political Economy, Vol. 22, No. 3, pp. 750-758.

Roger Clarke and David Collie (2006), 'Optimum-Welfare and Maximum-Revenue Tariffs under Bertrand Duopoly', Scottish Journal of Political Economy, Vol. 53, No. 3, pp. 398-408.

David Collie (2006), 'Tariffs and Subsidies under Asymmetric Oligopoly: Ad Valorem and Specific Instruments', The Manchester School, Vol. 74, No. 3, pp. 314-333.

Roger Clarke and David Collie (2006), 'Export Taxes under Bertrand Duopoly', Economics Bulletin, Vol. 6, No. 6, pp. 1-8.

David Collie (2006), 'Collusion in Differentiated Duopolies with Quadratic Costs', Bulletin of Economic Research, Vol. 58, No. 2, pp. 151-159.

David Collie and Hylke Vandenbussche (2005), 'Can Import Tariffs Deter Outward FDI', Open Economies Review, Vol. 16, pp. 341-362.

Professor Laurence Copeland, Arbitrage Bounds and the Time Series Properties of the Discount on UK Closed-End Mutual Funds, presented at seminars at LaTrobe and Melbourne Universities in Australia, Cardiff and Manchester in UK, the 9th International Conference on Macroeconomic Analysis and International Finance, Crete, 2005, forthcoming in Journal of Business Finance and Accounting, 2007

Professor Laurence Copeland, The Index Futures Market: Is Screen Trading More Efficient?, Journal of Futures Markets, 24 (4), 2004, 337-357 (with K. Lam and S. Jones)

Professor Laurence Copeland, Volatility and Volume in Chinese Stock Markets, forthcoming Journal of Chinese Economic and Business Studies, 1(3), 285-298, 2003 (with B. Zhang)

Professor James Davidson, "Alternative bootstrap procedures for testing cointegration in fractionally integrated processes" Journal of Econometrics (2006) 133 (2) 741-777

Professor James Davidson, "Asymptotic Methods and Functional Central Limit Theorems". Chapter 5 of for Palgrave Handbooks of Econometrics: Vol. 1 Econometric Theory .

Professor James Davidson, "Support for Governments and Leaders: Fractional Cointegration Analysis of Poll Evidence from the UK, 1960-2004." (with David Byers and David Peel) Studies in Nonlinear Dynamic and Econometrics 10.1 (2006)

Professor James Davidson, "Generating schemes for long memory processes: regimes, aggregation and linearity" (with Philipp Sibbertsen) Journal of Econometrics (2005) 128 (2) 253-282

Dixon, Huw D. & Sbriglia, Patrizia & Somma, Ernesto, 2006. "Learning to collude: An experiment in convergence and equilibrium selection in oligopoly," Research in Economics, Elsevier, vol. 60(3), pages 155-167, September.

Dixon, Huw & Kara, Engin, 2006. "How to Compare Taylor and Calvo Contracts: A Comment on Michael Kiley," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(4), pages 1119-1126, June.

Huw Dixon & Engin Kara, 2005. " How to Compare Taylor and Calvo Contracts: a comment on Michael Kiley," CDMA Working Paper Series 0504, Centre for Dynamic Macroeconomic Analysis.

Dixon, Huw D. & Somma, Ernesto, 2003. "The evolution of consistent conjectures," Journal of Economic Behavior & Organization, Elsevier, vol. 51(4), pages 523-536, August.

Professor James Foreman-Peck, 'Industrial Policy in Europe over the Last Century' EIB Papers 11 I 36-63 2006 http://www.eib.org/efs/papers.htm

Professor James Foreman-Peck,'Growth and Profitability of Small and Medium Enterprises: Some Welsh Evidence' Regional Studies, 40 4, 307–319, June 2006 (with G Makepeace and B Morgan)

Professor James Foreman-Peck,'Should Schools be Smaller? The Size-Performance Relationship for Welsh Schools' Economics of Education Review 25, 2, 157-71 April 2006 ( with L Foreman-Peck)

Professor James Foreman-Peck, 'Lessons from Italian Monetary Unification' Oesterreichische Nationalbank Working Paper 113 January 2006, http://www.oenb.at/en/presse_pub/research/020_workingpapers/working_pape...

Professor James Foreman-Peck, 'Business and Social Mobility into the British Elite 1870-1914' Journal of European Economic History 55 3 2004 485-518 ( with J Smith)

Szilárd Benk, Max Gillman and Michal Kejak, May 2007,Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks, Forthcoming in Journal of Money Credit and Banking

M Gillman and G. Otto, 2007, "Money Demand in General Equilibrium Endogenous Growth: Estimating the Role of a Variable Interest Elasticity", Quantitative and Qualitative Analysis in Social Sciences (QASS). Vol. 1 (1), Spring, 2007, 1-25. http://www.qass.org.uk/currentissue.htm

Simon Feeney, Max Gillman, and Mark N Harris, 2006, "Corporate Effective Tax Rates in a Single Taxation Country: Australia", Accounting Research Journal, 19(1): 64-73

Cziraky, Dario and Max Gillman, 2006, "Money Demand in an EU Accession Country: A VECM Study of Croatia ", Bulletin of Economic Research, 58(2): 73-159.

Benk, Szilard, Max Gillman and Michal Kejak, 2005, "A Comparison of Exchange Economies within a Monetary Business Cycle", The Manchester School.

Benk, Szilard, Max Gillman and Michal Kejak, 2005, "Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects", Review of Economic Dynamics.

Foreman-Peck, James & Hallett, Andrew Hughes & Ma, Yue, 2007. "Trade wars and the Slump," European Review of Economic History, Cambridge University Press, vol. 11(01), pages 73-98, March.

Hughes Hallett, Andrew & Lewis, John, 2007. "Debt, deficits, and the accession of the new member States to the Euro," European Journal of Political Economy, Elsevier, vol. 23(2), pages 316-337, June.

Acocella, Nicola & Di Bartolomeo, Giovanni & Hallett, Andrew Hughes, 2007. "Dynamic Controllability With Overlapping Targets: Or Why Target Independence May Not Be Good For You," Macroeconomic Dynamics, Cambridge University Press, vol. 11(02), pages 202-213, March.

Andrew Hughes Hallett & Diana N. Weymark, 2007. "Fiscal leadership and central bank design," Canadian Journal of Economics, Canadian Economics Association, vol. 40(2), pages 607-627, May.

Andrew Hughes Hallett & Campbell Leith, 2006. "Introduction To The Special Issue On 'Fiscal Policy'," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(1), pages 1-3, 02.

Vladimir Chaplygin & Andrew Hughes Hallett & Christian Richter, 2006. "Monetary integration in the ex-Soviet Union: A 'union of four'?," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 14(1), pages 47-68, 03.

Andrew Hallett & Christian Richter, 2006. "Measuring the Degree of Convergence among European Business Cycles," Computational Economics, Springer, vol. 27(2), pages 229-259, May.

Andrew Hughes Hallett & Diana N. Weymark, 2006. "Heterogeneity In A Currency Union With Social Market Objectives," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(1), pages 129-152, 02.

Kul Luintel, "Private Information in Executive Stock Option Trades: Evidence of
Insider Trading from the UK" (with Kyriacou and Mase) forthcoming in Economica (2010).

Kul Luintel, "Heterogeneous Ideas Production and Endogenous Growth: An Empirical Investigation" Canadian Journal of Economics, vol. 42 (2009), 1176-1205.

Kul Luintel, "Financial Structure and Economic Growth" (With M. Khan, P. Arestis and K. Theodoridis),
Journal of Development Economics, vol. 86 (2008), 181-200.

Kul Luintel, "Government Solvency: Revisiting some EMU Countries" (with Michael Arghyrou); forthcoming in the Journal of Macroeconomics.

Kul Luintel, "Are common stocks a hedge against inflation?" (with K. N. Paudyal); forthcoming in the Journal of Financial Research.

Kul Luintel, "Are International R&D Spillovers Costly for the US?" (with Moss Khan), The Review of Economics and Statistics, Vol 86 (November, 2004), 896-910.

Kul Luintel, "Exogeneity of Money and its Policy Implications for Price Control: Evidence from South Asia", Pacific Economic Review, vol. 7 (2002) 505-517.

Kent Matthews, "Competitive Conditions among the major British banks", Journal of Banking and Finance, 2007, 31, 7, pp 2025 - 2042 (with V Murinde and T Zhao)

Kent Matthews, "The Monetary Approach to Exchange Rate Determination for Malaysia", Applied Financial Economics Letters, 3, 2007, pp91 - 94 (with Chin Lee and M Azali)

Kent Matthews, "Market Structure and Competitive Conditions in the Arab GCC Banking System", Journal of Banking and Finance, 30, 2006, pp 3487 - 3501 (with Saeed Al-Muharrami and Yusuf Khabari)

Kent Matthews, "Price of Beer and violence-related injury in England and Wales", Injury, International Journal of the Care of the Injured, 3, 2006, pp 388 – 394 (with J Shepherd and V Sivarajasingham)

Kent Matthews, "The price of beer and violence-related injury in 18England and Wales", Applied Economics,19 38, 2006, pp 661 – 670 (with J Shepherd and V Sivarajasingham)

Kent Matthews, "Expected Stock Returns, Aggregate Consumption and Wealth: Some Further Empirical Evidence", forthcoming Journal of Macroeconomics, 28, 2006 pp 439 – 445 (with C Ioannidis and D Peel)

Patrick Minford, An Agenda for Tax reform, Centre for Policy Studies, 2006, pp. 19.

Patrick Minford, Should Britain leave the EU? An economic analysis of a troubled relationship, (with Vidya Mahambare and Eric Nowell), Edward Elgar in association with the Institute of Economic Affairs, 2005, pp.254.

Patrick Minford, Money Matters- essays in honour of Alan Walters (edited with Introduction), Edward Elgar, 2004, pp 361.

Patrick Minford, Should Britain join the euro? The Chancellor's five tests examined, IEA Occasional Paper 126, September 2002, pp 67.

Patrick Minford, Advanced Macroeconomics – a primer (with David Peel) Edward Elgar, 2002, pp 548.

Patrick Minford, 'On the Equality of Real Interest Rates Across Borders in Integrated Capital Markets' with David Peel, Open Economies Review, 18(1), 2007.

Patrick Minford, 'Partial Current Information and Signal Extraction in a Rational Expectations Macroeconomic Model: A Computational Solution' (with Laurian Lungu and Kent Matthews) revise and resubmit invitation to Economic Modelling.

Patrick Minford, 'Vicious and Virtuous Circles - The Political Economy of Unemployment in Interwar UK and USA' (with Kent Matthews and Ruthira Naraidoo) forthcoming in European Journal of Political Economy.

Patrick Minford, 'Competitiveness in a globalised world: a commentary' Journal of International Business Studies, 37, 2006, 176-178.

Patrick Minford, 'What are the right models and policies for a world of low inflation?' National Institute Economic Review, 196, April 2006, 92-106.

Patrick Minford, 'Opportunistic monetary policy: an alternative rationalization' (with Naveen Srinivasan) Journal of Economics and Business, 58, October-November 2006, 366-372.

Patrick Minford, 'Joining the European Monetary Union- comparing first and second generation open economy models' (with Vo Phuong Mai Le) Open Economies Review, 17, 281-296, 2006.

Patrick Minford, 'Measuring the Economic Costs and benefits of the EU', Open Economies Review, 17, 509-524, 2006.

Patrick Minford, 'Simulating Stock Returns under switching regimes – a new test of market efficiency', (with David Meenagh and David Peel), Economics Letters, 94 (2007), 235-239.

'South Africa's Labour Market- Towards 2015' (with Vidya Mahambare) in Economic Intelligence Quarterly (ed. George Djolov), South African Chambers of Commerce (CHAMSA), South Africa, November 2005, pp.32.

Patrick Minford, 'Explaining the equity risk premium' (with Laurian Lungu), Manchester School, 74(6),December, 2006, 670-700.

Patrick Minford, 'Monetarism: A Retrospective' (with Tom Mayer), World Economics, Vol. 5, No. 2 (April–June), 2004, pp. 147–185.

'Estimating large rational expectations models by FIML—some experiments using a new algorithm with bootstrap confidence limits', (with Bruce Webb), Economic Modelling, vol. 22(1), January 2005, pp 187-205

Patrick Minford, 'Britain and EMU: Assessing the costs in macroeconomic variability', (with David Meenagh and Bruce Webb) The World Economy 27(3), 2004, 301-358; also available on the Blackwell Synergy online delivery service, accessible via the journal's website at http://www.blackwell-synergy.com

Patrick Minford, 'Optimal monetary policy is price-level targeting the next step?' (with David Peel) Scottish Journal of Political Economy, November 2003, Vol. 50, No. 5, pp650-667, ISSN 0036 9292

Patrick Minford, 'How different are money supply rules from Taylor rules ?', with Francesco Perugini and Naveen Srinivasan, Indian Economic Review, Vol. 38, Issue 2, 2003, p 157-166.

Patrick Minford, 'Nominal Contracting and monetary targets – drifting into indexation', Economic Journal, January 2003, Vol 113, No. 484, pp 65-100 ISSN 0013-0133

Patrick Minford, 'Are interest rate regressions evidence for a Taylor rule ?'(with Francesco Perugini and Naveen Srinivasan), Economic Letters, Vol. 76, No. 1, p. 145-150, June 2002

Clatworthy MA, Peel D and Pope PF, 2007, 'Evaluating the properties of analysts' forecasts: a bootstrap approach', British Accounting Review, vol 39(1), pp 3-13

Paya I and Peel D, 2006, 'On the speed of adjustment in ESTAR models when allowance is made for bias in estimation', Economics Letters, vol 90(2), pp 272-277

Paya I and Peel D, 2006, 'Temporal aggregation of an ESTAR process: some implications for purchasing power parity adjustment', Journal of Applied Econometrics, vol 21(5), pp 655-668

Peel D and Paya I, 2006, 'A new analysis of the determinants of the real dollar-sterling exchange rate: 1871-1994', Journal of Money, Credit and Banking, vol 38(8), pp 1971-1990

Ioannides C, Peel D and Matthews K, 2006, 'Expected stock returns, aggregate consumption and wealth: some further empirical evidence', Journal of Macroeconomics, vol 28(2), pp 439-445

Davidson J, Peel D and Byers D, 2006, 'Support for Governments and leaders: fractional cointegration analysis of poll evidence from the UK, 1960-2004', Studies in Nonlinear Dynamics and Econometrics, vol 10(1), pp Article 3

Paya I and Peel D, 2005, 'The process followed by PPP data: on the properties of linearity tests', Applied Economics, vol 37(21), pp 2515-2522

Garry Phillips, "Moment Approximations in Simultaneous Equation Models: Some Further Results". Chapter 3 in "The Refinement of Econometric Estimation and Test Procedures: Finite Sample and Asymptotic Analysis". GDA Phillips and E.Tzavalis.eds. Cambridge University Press. January 2007.

Garry Phillips, "The Refinement of Econometric Estimation and Test Procedures: Finite Sample and Asymptotic Analysis". GDA Phillips and E.Tzavalis.eds. Cambridge University Press. January 2007.

Garry Phillips, "Moment Approximations for Least Squares Estimators in Dynamic Regression Models With a Unit Root",(with J.F Kiviet). Econometrics Journal 8, No 2, (2005), 115-142.

Garry Phillips, "Bivariate ARCH Models: Finite Sample Properties of QML Estimators and an Application to an LM-Type test.".(with E.M.Iglesias), Econometric Theory 21, No 6,(2005), 1058-1086.

Garry Phillips, "Analysing 1 month Euro-market Interest Rates by Fractionally Integrated Models", (with E.M Iglesias). Applied Financial Economics (2004),15, 95-106.

Garry Phillips, "Another look at the Evolution of the Risk Premium: a Var-Garch-M Model" (with E.M Iglesias). Economic Modelling 20 ( 2002), 777-789.

Sugata Ghosh. Fiscal Policy, Long-Run Growth and Welfare in a Stock-Flow Model of Public Goods (with Udayan Roy), Canadian Journal of Economics, (2004), Vol. 37, No. 2, forthcoming.

Sugata Ghosh. Endogenous Growth, Welfare and Budgetary Regimes (with I.A. Mourmouras), Journal of Macroeconomics (2004), Vol. 26, No. 4, forthcoming.

Sugata Ghosh. Debt, Growth and Budgetary Regimes (with I. A. Mourmouras), Bulletin of Economic Research (2004), Vol. 56, No. 2, forthcoming.

Sugata Ghosh. The Effect of Inequality on Growth: Theory and Evidence from the Indian States (with Sarmistha Pal), Review of Development Economics (2004), Vol. 8, No. 1, forthcoming.