Details about Ronald MacDonald

E-mail:
Phone:	44-(0)141-330-1988
Postal address:	Economics Adam Smith Business School Gilbert Scott Building University of Glasgow Glasgow G12 8QQ UK
Workplace:	Department of Economics, Adam Smith Business School, University of Glasgow, (more information at EDIRC)

Access statistics for papers by Ronald MacDonald.

Last updated 2024-07-04. Update your information in the RePEc Author Service.

Short-id: pma235

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Working Papers

2021

1. Cyclical Reaction of Fiscal Policy and its Relationship with the Current Account Balance
   DSSR Discussion Papers, Graduate School of Economics and Management, Tohoku University

2017

2. The Term Structure of Exchange Rate Predictability: Commonality, Scapegoat, and Disagreement
   GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
   See also Journal Article The term structure of exchange rate predictability: Commonality, scapegoat, and disagreement, Journal of International Money and Finance, Elsevier (2019) View citations (4) (2019)

2016

3. Japan's Currency Intervention Regimes: A Microstructural Analysis with Speculation and Sentiment
   Working Papers, Business School - Economics, University of Glasgow
4. Policy initiatives and Örmsíaccess to external finance: Evidence from a panel of emerging Asian economies
   Working Papers, Business School - Economics, University of Glasgow View citations (2)

2015

5. An Alternative way of Predicting the Outcome of the Scottish Independence Referendum: The Information in the Ether
   SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (1)
   Also in Working Papers, Business School - Economics, University of Glasgow View citations (1)
6. Education and the local equity bias around the world
   Working Papers, Business School - Economics, University of Glasgow View citations (8)
   See also Journal Article Education and the local equity bias around the world, Journal of International Financial Markets, Institutions and Money, Elsevier (2015) View citations (10) (2015)
7. Forecasting the 2015 General Election with Internet Big Data: An Application of the TRUST Framework
   Working Papers, Business School - Economics, University of Glasgow
8. Policy initiatives and firms' access to external finance: Evidence from a panel of emerging Asian economies
   Essex Finance Centre Working Papers, University of Essex, Essex Business School View citations (1)
   Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2015) View citations (7)
   Working Papers, Business School - Economics, University of Glasgow (2014)
   See also Journal Article Policy initiatives and firms' access to external finance: Evidence from a panel of emerging Asian economies, Journal of Corporate Finance, Elsevier (2019) View citations (15) (2019)

2014

9. An Empirical Assessment of Optimal Monetary Policy Delegation in the Euro Area
   Working Papers, Business School - Economics, University of Glasgow View citations (2)
10. An Independent Scotland’s Currency Options Redux: Assessing the Costs and Benefits of Currency Choice
    CESifo Working Paper Series, CESifo
    Also in Working Papers, Business School - Economics, University of Glasgow
11. Carry Funding and Safe Haven Currencies: A Threshold Regression Approach
    CESifo Working Paper Series, CESifo View citations (3)
    Also in Discussion Papers, Deutsche Bundesbank (2014) View citations (4)
    See also Journal Article Carry funding and safe haven currencies: A threshold regression approach, Journal of International Money and Finance, Elsevier (2015) View citations (54) (2015)
12. Exchange rate forecasts and expected fundamentals
    Kiel Working Papers, Kiel Institute for the World Economy (IfW Kiel) View citations (3)
    See also Journal Article Exchange rate forecasts and expected fundamentals, Journal of International Money and Finance, Elsevier (2015) View citations (22) (2015)
13. Measuring the Euro-Dollar Permanent Equilibrium Exchange Rate using the Unobserved Components Model
    Stirling Economics Discussion Papers, University of Stirling, Division of Economics View citations (1)
    Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2014) View citations (1)
14. PICKING THE RIGHT BUDGET CONSTRAINT FOR SCOTLAND
    Working Papers, Business School - Economics, University of Glasgow
    Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2014)
15. The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered
    CESifo Working Paper Series, CESifo View citations (16)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (14)
    See also Journal Article The real exchange rate in the long run: Balassa-Samuelson effects reconsidered, Journal of International Money and Finance, Elsevier (2017) View citations (28) (2017)
16. The role of education in equity portfolios during the recent financial crisis
    Working Papers, Business School - Economics, University of Glasgow
    Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2014)

2013

17. Currency Carry Trades, Position-Unwinding Risk, and Sovereign Credit Premia
    MPRA Paper, University Library of Munich, Germany View citations (4)
18. Currency Forecast Errors at Times of Low Interest Rates: Evidence from Survey Data on the Yen/Dollar Exchange Rate
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE)
    Also in Working Papers, University of Strathclyde Business School, Department of Economics (2013)
19. Currency Issues and Options for an Independent Scotland
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (2)
    Also in Working Papers, Business School - Economics, University of Glasgow View citations (2)
20. Global Currency Misalignments, Crash Sensitivity, and Downside Insurance Costs
    MPRA Paper, University Library of Munich, Germany

2012

21. Stock Market Reaction to Fed Funds Rate Surprises: State Dependence and the Financial Crisis
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE)
    Also in Working Papers, Business School - Economics, University of Glasgow (2012) View citations (5)
    See also Journal Article Stock market reaction to fed funds rate surprises: State dependence and the financial crisis, Journal of Banking & Finance, Elsevier (2013) View citations (65) (2013)

2011

22. A PANEL DATA INVESTIGATION OF REALEXCHANGE RATE MISALIGNMENT AND GROWTH
    Anais do XXXVIII Encontro Nacional de Economia [Proceedings of the 38th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics] View citations (1)
    Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2010) View citations (35)
    CESifo Working Paper Series, CESifo (2010) View citations (35)
    Working Papers, Business School - Economics, University of Glasgow View citations (47)
23. Causes of corruption in European countries: history, law, and political stability
    Working Papers, Business School - Economics, University of Glasgow View citations (5)
24. Corruption and Financial Intermediation in a Panel of Regions: Cross-Border Effects of Corruption
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (5)
    Also in Working Papers, Business School - Economics, University of Glasgow (2011) View citations (5)
25. Individual exchange rate forecasts and expected fundamentals
    ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research View citations (3)
26. Realised and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom
    Working Papers, Business School - Economics, University of Glasgow View citations (4)
    Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2011) View citations (1)
    See also Journal Article Realized and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom, Journal of Money, Credit and Banking, Blackwell Publishing (2012) View citations (17) (2012)

2010

27. Corruption and the Military in Politics: Theory and Evidence from around the World
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (8)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010) View citations (8)
28. Distributional and Poverty Consequences of Globalization: A Dynamic Comparative Analysis for Developing Countries
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (14)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010) View citations (14)
29. Does the euro dominate Central and Eastern European money markets?
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (1)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010)
    See also Journal Article Does the euro dominate Central and Eastern European money markets?, Journal of International Money and Finance, Elsevier (2013) View citations (4) (2013)
30. Equilibrium Exchange Rate Determination and Multiple Structural Changes
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (3)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010) View citations (4)
    See also Journal Article Equilibrium exchange rate determination and multiple structural changes, Journal of Empirical Finance, Elsevier (2013) View citations (4) (2013)
31. Microstructure Order Flow: Statistical and Economic Evaluation of Nonlinear Forecasts
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010)
    See also Journal Article Microstructure order flow: statistical and economic evaluation of nonlinear forecasts, Journal of International Financial Markets, Institutions and Money, Elsevier (2015) View citations (5) (2015)
32. Nominal Interest Rates and Stationarity
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (2)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010) View citations (2)
    See also Journal Article Nominal interest rates and stationarity, Review of Quantitative Finance and Accounting, Springer (2013) View citations (4) (2013)
33. Revisiting the Dollar-Euro Permanent Equilibrium Exchange Rate: Evidence from Multivariate Unobserved Components Models
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (2)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010) View citations (2)
34. The Role of Institutions in Cross-Section Income and Panel Data Growth Models: A Deeper Investigation on the Weakness and Proliferation of Instruments
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (2)
    Also in Working Papers, Business School - Economics, University of Glasgow (2010) View citations (1)
    See also Journal Article The role of institutions in cross-section income and panel data growth models: A deeper investigation on the weakness and proliferation of instruments, Journal of Comparative Economics, Elsevier (2012) View citations (15) (2012)

2009

35. 3-Regime symmetric STAR modeling and exchange rate reversion
    Working Papers, Business School - Economics, University of Glasgow
    Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2009)
36. Climbing to the top? Foreign Direct Investment and Property Rights
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE)
    Also in Working Papers, Business School - Economics, University of Glasgow (2009)
    See also Journal Article CLIMBING TO THE TOP? FOREIGN DIRECT INVESTMENT AND PROPERTY RIGHTS, Economic Inquiry, Western Economic Association International (2011) View citations (18) (2011)
37. Exchange Rate Forecasters' Performance: Evidence of Skill?
    CESifo Working Paper Series, CESifo View citations (3)
    Also in Working Papers, Business School - Economics, University of Glasgow (2009) View citations (1)
38. Exchange rate forecasters’ performance: evidence of skill?
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE)
39. Real exchange rates and real interest rate differentials: a present value interpretation
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (31)
    See also Journal Article Real exchange rates and real interest rate differentials: A present value interpretation, European Economic Review, Elsevier (2009) View citations (31) (2009)
40. Sterling in crisis: 1964-1967
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article Sterling in crisis, 1964–1967, European Review of Economic History, Cambridge University Press (2009) View citations (3) (2009)
41. Technical Appendix-3-Regime asymmetric STAR modeling and exchange rate reversion
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (2)
    Also in Working Papers, Business School - Economics, University of Glasgow (2009) View citations (1)
42. The Behavioural Zloty/Euro Equilibrium Exchange Rate
    CESifo Working Paper Series, CESifo View citations (2)

2008

43. A Review of the Empirical Evidence on the Effects of Fiscal Decentralization on Economic Efficiency: With Comments on Tax Devolution to Scotland
    Working papers, University of Connecticut, Department of Economics
44. Do Institutions Matter for Foreign Direct Investment?
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) View citations (3)
    Also in Working Papers, Business School - Economics, University of Glasgow (2008) View citations (3)
    See also Journal Article Do Institutions Matter for Foreign Direct Investment?, Open Economies Review, Springer (2010) View citations (117) (2010)
45. International Money and Finance
    Working papers, University of Connecticut, Department of Economics View citations (41)
46. Monetary Transmission Mechanism in Central and Eastern Europe: Surveying the Surveyable
    OECD Economics Department Working Papers, OECD Publishing View citations (14)
    See also Journal Article MONETARY TRANSMISSION MECHANISM IN CENTRAL AND EASTERN EUROPE: SURVEYING THE SURVEYABLE, Journal of Economic Surveys, Wiley Blackwell (2009) View citations (63) (2009)
47. The Global Dimension to Fiscal Sustainability
    Working Papers, Business School - Economics, University of Glasgow
    Also in SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2008) View citations (2)
    See also Journal Article The global dimension to fiscal sustainability, Journal of Macroeconomics, Elsevier (2011) View citations (17) (2011)

2007

48. Behavioural equilibrium exchange rate estimates and implied exchange rate adjustments for ten countries
    Working Papers, Business School - Economics, University of Glasgow View citations (39)
49. Did Impending War in Europe Help Destroy the Gold Bloc in 1936? An Internal Inconsistency Hypothesis
    Working papers, University of Connecticut, Department of Economics View citations (1)
50. Disaggregate Real Exchange Rate Behaviour
    Working Papers, Business School - Economics, University of Glasgow View citations (3)
    See also Journal Article Disaggregate Real Exchange Rate Behaviour, Open Economies Review, Springer (2007) View citations (3) (2007)
51. IMF Support and Inter-regime Exchange rate Volatility
    Working Papers, Business School - Economics, University of Glasgow
    See also Journal Article IMF Support and Inter-Regime Exchange Rate Volatility, Open Economies Review, Springer (2012) View citations (1) (2012)
52. TRADE COSTS, TRADE BALANCES AND CURRENT ACCOUNTS: AN APPLICATION OF GRAVITY TO MULTILATERAL TRADE
    Working Papers, Business School - Economics, University of Glasgow
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (5)
    CESifo Working Paper Series, CESifo (2005) View citations (6)
    See also Journal Article Trade Costs, Trade Balances and Current Accounts: An Application of Gravity to Multilateral Trade, Open Economies Review, Springer (2008) View citations (6) (2008)
53. The impact of Central Bank intervention on exchange rate forecasts heterogeneity
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (14)
    Also in Working Papers, CEPII research center (2002) View citations (12)
    THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (2002) View citations (15)
    See also Journal Article The impact of central bank intervention on exchange-rate forecast heterogeneity, Journal of the Japanese and International Economies, Elsevier (2007) View citations (22) (2007)

2006

54. A Re-examination of the link between Real Exchange Rates and Real Interest Rate Differentials
    Working Papers, Business School - Economics, University of Glasgow View citations (4)
    Also in CESifo Working Paper Series, CESifo (2003) View citations (8)
55. Catching-up, Inflation Differentials and Credit Booms in a Heterogeneous Monetary Union: Some Implications for EMU and new EU Member States
    CESifo Working Paper Series, CESifo View citations (5)
56. Monetary Policy Shocks and Stock Returns: Evidence from the British Market
    Working Papers, Business School - Economics, University of Glasgow View citations (15)
    See also Journal Article Monetary policy shocks and stock returns: evidence from the British market, Financial Markets and Portfolio Management, Springer (2009) View citations (31) (2009)
57. Monetary Transmission Mechanism in Central & Eastern Europe: Gliding on a Wind of Change
    William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan View citations (23)
58. Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable
    MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) View citations (19)
    Also in CESifo Working Paper Series, CESifo (2006) View citations (20)
59. Monetary transmission mechanism in Central and Eastern Europe: gliding on a wind of change
    BOFIT Discussion Papers, Bank of Finland Institute for Emerging Economies (BOFIT) View citations (1)
60. Real exchange rates and real interest rates: a nonlinear perspective
    Post-Print, HAL
    Also in Discussion Papers (REL - Recherches Economiques de Louvain), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) (2006) View citations (3)
    Working Papers, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. (1999) View citations (12)
    THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (1999) View citations (2)
    See also Journal Article Real exchange rates and real interest rates: a nonlinear perspective, Recherches économiques de Louvain, De Boeck Université (2006) View citations (3) (2006)
61. US Trade and Exchange Rate Volatility: A Real Sectoral Bilateral Analysis
    Working Papers, Business School - Economics, University of Glasgow View citations (8)
    See also Journal Article US trade and exchange rate volatility: A real sectoral bilateral analysis, Journal of Macroeconomics, Elsevier (2008) View citations (60) (2008)

2005

62. Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues
    Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) View citations (80)
    Also in William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan (2005) View citations (61)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (27)
    See also Journal Article Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues, Journal of Economic Surveys, Wiley Blackwell (2006) View citations (26) (2006)
63. Fundamental Volatility is Regime Specific
    Working Papers, Business School - Economics, University of Glasgow
64. Non-Linear Exchange Rate Dynamics in Target Zones: A Bumpy Road Towards A Honeymoon Some Evidence from the ERM, ERM2 and Selected New EU Member States
    William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan View citations (5)
    Also in CESifo Working Paper Series, CESifo (2005) View citations (8)

2004

65. Markov Switching Regimes In A Monetary Exchange Rate Model
    Royal Economic Society Annual Conference 2004, Royal Economic Society View citations (1)
    See also Journal Article Markov switching regimes in a monetary exchange rate model, Economic Modelling, Elsevier (2005) View citations (75) (2005)
66. The Economic Case for Fiscal Federalism in Scotland
    Working papers, University of Connecticut, Department of Economics View citations (13)
67. The monetary approach to exchange rates in the CEECs
    Macroeconomics, University Library of Munich, Germany View citations (6)
    Also in BOFIT Discussion Papers, Bank of Finland Institute for Emerging Economies (BOFIT) (2003) View citations (1)
    See also Journal Article The monetary approach to exchange rates in the CEECs, The Economics of Transition, The European Bank for Reconstruction and Development (2005) View citations (78) (2005)

2003

68. Catching Up: The Role of Demand, Supply and Regulated Price Effects on the Real Exchange Rates of Four Accession Countries
    CESifo Working Paper Series, CESifo View citations (19)
    See also Journal Article Catching up: The role of demand, supply and regulated price effects on the real exchange rates of four accession countries, The Economics of Transition, The European Bank for Reconstruction and Development (2004) View citations (40) (2004)
69. Do Fundamentals Matter for the D-Mark/Euro-Dollar? A Regime Switching Approach
    Hannover Economic Papers (HEP), Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät View citations (4)
    See also Journal Article Do fundamentals matter for the D-Mark/Euro-Dollar? A regime switching approach, Global Finance Journal, Elsevier (2005) View citations (12) (2005)
70. Estimation of the Equilibrium Real Exchange Rate for South Africa
    IMF Working Papers, International Monetary Fund View citations (90)
71. Fatal Attraction
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
72. Fatal Attraction: A New Measure of Contagion
    IMF Working Papers, International Monetary Fund View citations (15)
73. International Parity Relationships Between Germany and the United States: A Joint Modelling Approach
    FRU Working Papers, University of Copenhagen. Department of Economics. Finance Research Unit View citations (10)
    Also in Discussion Papers, University of Copenhagen. Department of Economics (2000) View citations (30)
74. Models of exchange rate expectations: how much heterogeneity ?
    Post-Print, HAL View citations (58)
    See also Journal Article Models of exchange rate expectations: how much heterogeneity?, Journal of International Financial Markets, Institutions and Money, Elsevier (2003) View citations (53) (2003)
75. The Monetary Approach to Exchange Rates in the CEECs Relations and Output Performance
    Vienna Economics Papers, University of Vienna, Department of Economics

2002

76. Purchasing Power Parity and New Trade Theory
    IMF Working Papers, International Monetary Fund View citations (47)

2001

77. Modelling the long-run real effective exchange rate of the New Zealand Dollar
    Reserve Bank of New Zealand Discussion Paper Series, Reserve Bank of New Zealand View citations (7)
    See also Journal Article Modelling the Long–run Real Effective Exchange Rate of the New Zealand Dollar, Australian Economic Papers, Wiley Blackwell (2002) View citations (17) (2002)
78. PPP and the Balassa Samuelson Effect: The Role of the Distribution Sector
    IMF Working Papers, International Monetary Fund View citations (97)
    Also in CESifo Working Paper Series, CESifo (2001) View citations (87)
79. The Inter-War Gold Exchange Standard: Credibility and Monetary Independence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article The inter-war gold exchange standard: credibility and monetary independence, Journal of International Money and Finance, Elsevier (2003) View citations (19) (2003)

2000

80. A real differential view of equilibrium real exchange rates and misalignments
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (7)
81. Concepts to Calculate Equilibrium Exchange Rates: An Overview
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank View citations (171)
82. Does Consumption Deviate from the Permanent Income Path? An Empirical Study of UK Data
    Dundee Discussion Papers in Economics, Economic Studies, University of Dundee
83. Filtering the Beer: A Permanent and Transitory Decomposition
    IMF Working Papers, International Monetary Fund View citations (78)
    See also Journal Article Filtering the BEER: A permanent and transitory decomposition, Global Finance Journal, Elsevier (2004) View citations (32) (2004)
84. Interest Rate and Price Linkages between the USA and Japan: Evidence from the Post-Bretton Woods Period
    Discussion Papers, University of Copenhagen. Department of Economics View citations (10)
85. Monetary policy independence in the ERM: was there any?
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
86. The Role of the Exchange Rate in Economic Growth
    Working Papers, Warwick - Development Economics Research Centre View citations (5)
87. The role of the exchange rate in economic growth: a euro-zone perspective
    Working Paper Research, National Bank of Belgium View citations (11)

1999

88. Currency Spillovers and Tri-Polarity: A Simultaneous Model of the US Dollar, German Mark and Japanese Yen
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    See also Journal Article Currency spillovers and tri-polarity: a simultaneous model of the US dollar, German mark and Japanese yen, Journal of International Money and Finance, Elsevier (2004) View citations (9) (2004)
89. Models of Exchange Rate Expectations: Heterogeneous Evidence from Panel Data
    Working Papers, CEPII research center View citations (8)
    Also in Working Papers, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. (1999) View citations (4)
    THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (1999) View citations (7)
90. The Long-Run Relationship Between Real Exchange Rates and Real Interest Rate Differentials: A Panel Study
    IMF Working Papers, International Monetary Fund View citations (28)
    See also Journal Article The Long-Run Relationship Between Real Exchange Rates and Real Interest Rate Differentials: A Panel Study, IMF Staff Papers, Palgrave Macmillan (2000) View citations (84) (2000)

1998

91. Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions
    IMF Working Papers, International Monetary Fund View citations (9)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1998) View citations (8)
    See also Journal Article Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions, IMF Staff Papers, Palgrave Macmillan (1999) View citations (21) (1999)
92. Exchange Rates and Economic Fundamentals: A Methodological Comparison of BEERs and FEERs
    IMF Working Papers, International Monetary Fund View citations (369)

1997

93. On the Japanese Yen-US Dollar Exchange Rate: A Structural Econometric Model Based on Real Interest Differentials
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    See also Journal Article On the Japanese Yen-U.S. Dollar Exchange Rate: A Structural Econometric Model Based on Real Interest Differentials, Journal of the Japanese and International Economies, Elsevier (1998) View citations (20) (1998)
94. Violations of the `Rules of the Game' and the Credibility of the Classical Gold Standard, 1880-1914
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
95. What Determines Real Exchange Rates? The Long and Short of it
    IMF Working Papers, International Monetary Fund View citations (165)
    See also Journal Article What determines real exchange rates?: The long and the short of it, Journal of International Financial Markets, Institutions and Money, Elsevier (1998) View citations (75) (1998)

1995

96. Asset Market and Balance of Payments Characteristics: An Eclectic Exchange Rate Model for the Dollar, Mark, and Yen
    IMF Working Papers, International Monetary Fund View citations (6)
    See also Journal Article Asset Market and Balance of Payments Characteristics: An Eclectic Exchange Rate Model for the Dollar, Mark and Yen, Open Economies Review, Springer (1999) View citations (9) (1999)
97. Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence
    IMF Working Papers, International Monetary Fund View citations (115)
    See also Journal Article Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence, IMF Staff Papers, Palgrave Macmillan (1995) View citations (124) (1995)

1994

98. Consumption, Income, and International Capital Market Integration
    IMF Working Papers, International Monetary Fund View citations (8)
    See also Journal Article Consumption, Income, and International Capital Market Integration, IMF Staff Papers, Palgrave Macmillan (1995) View citations (20) (1995)

1992

99. The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium and Forecasting
    IMF Working Papers, International Monetary Fund View citations (15)
    See also Journal Article The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting, IMF Staff Papers, Palgrave Macmillan (1993) View citations (115) (1993)

1991

100. Exchange Rate Economics: A Survey
     IMF Working Papers, International Monetary Fund View citations (58)
     See also Journal Article Exchange Rate Economics: A Survey, IMF Staff Papers, Palgrave Macmillan (1992) View citations (179) (1992)

1990

101. Exchange Rates, Policy Convergence and the European Monetary System
     CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
     Also in Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (25)
     See also Journal Article Exchange Rates, Policy Convergence, and the European Monetary System, The Review of Economics and Statistics, MIT Press (1991) View citations (42) (1991)
102. RECENT DEVELOPMENTS IN MONETARY THEORY
     Working Papers, New South Wales - School of Economics
     Also in Dundee Discussion Papers in Economics, Economic Studies, University of Dundee
103. Some Specification Tests of Uncovered Interest Parity
     Discussion Papers (REL - Recherches Economiques de Louvain), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) View citations (1)
104. THE STABILITY OF MONETARY VELOCITIES IN THE UNITED KINGDOM AND THE UNITED STATES 1871-1975: A COINTEGRATION ANALYSIS
     Working Papers, Western Sydney - School of Business And Technology

1983

105. The Life Cycle Hypothesis and Rational Expectations: Some Further Empirical Results
     Discussion Papers (REL - Recherches Economiques de Louvain), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Undated

106. A Restatement of the Case for Fiscal Autonomy (or: The Barnett Formula - a formula for Rake's Progress)
     Working Papers, Business School - Economics, University of Glasgow View citations (2)
107. ARE FOREIGN EXCHANGE MARKET FORECASTERS 'RATIONAL'?: SOME SURVEY BASED TESTS
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (8)
     See also Journal Article Are Foreign Exchange Market Forecasters "Rational"? Some Survey-Based Tests, The Manchester School of Economic & Social Studies, University of Manchester (1990) View citations (13) (1990)
108. EMPLOYMENT IN UK MANUFACTURING: A VECTOR AUTOGRESSION
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee
109. LONG RUN PURCHASING POWER PARITY: IS IT FOR REAL?
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (67)
     See also Journal Article Long-Run Purchasing Power Parity: Is It for Real?, The Review of Economics and Statistics, MIT Press (1993) View citations (71) (1993)
110. PERSISTENCE IN UK MARKET RETURNS: AN AGGREGATED AND DISAGGREGATED PERSPECTIVE
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (3)
111. REGIONAL VARIATIONS IN INFLATION IN CANADA:AN EXPLORATORY DATA ANALYSIS
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee
112. SOME TESTS OF THE GOVERNMENT'S INTERTEMPORAL BUDGET CONSTRAINTS USING US DATA
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (8)
113. SPOT AND FORWARD METALS PRICES: EFFICIENCY AND TIME SERIES BEHAVIOUR
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (4)
114. WEALTH ALLOCATION AND CONSUMPTION AN EMPIRICAL STUDY OF U.K. DATA
     Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (2)

Journal Articles

2024

1. Identifying long-run relationships between the exchange rate, interest rates and stock prices
   Applied Economics, 2024, 56, (22), 2671-2687

2022

2. THE CURRENCY CONUNDRUM FOR AN INDEPENDENT SCOTLAND
   National Institute Economic Review, 2022, 260, 7-25

2019

3. Policy initiatives and firms' access to external finance: Evidence from a panel of emerging Asian economies
   Journal of Corporate Finance, 2019, 59, (C), 162-184 View citations (15)
   See also Working Paper Policy initiatives and firms' access to external finance: Evidence from a panel of emerging Asian economies, Essex Finance Centre Working Papers (2015) View citations (1) (2015)
4. The multilateral relationship between oil and G10 currencies
   Energy Economics, 2019, 78, (C), 444-453 View citations (6)
5. The term structure of exchange rate predictability: Commonality, scapegoat, and disagreement
   Journal of International Money and Finance, 2019, 95, (C), 379-401 View citations (4)
   See also Working Paper The Term Structure of Exchange Rate Predictability: Commonality, Scapegoat, and Disagreement, GRU Working Paper Series (2017) (2017)

2018

6. Decomposition of the uncovered equity parity correlation
   Journal of International Financial Markets, Institutions and Money, 2018, 57, (C), 44-58 View citations (3)
7. Volatility co-movements and spillover effects within the Eurozone economies: A multivariate GARCH approach using the financial stress index
   Journal of International Financial Markets, Institutions and Money, 2018, 52, (C), 17-36 View citations (39)

2017

8. The real exchange rate in the long run: Balassa-Samuelson effects reconsidered
   Journal of International Money and Finance, 2017, 75, (C), 69-92 View citations (28)
   See also Working Paper The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered, CESifo Working Paper Series (2014) View citations (16) (2014)

2016

9. A hybrid approach to exchange rates
   Studies in Economics and Finance, 2016, 33, (1), 50-68 View citations (2)
10. Exchange rate volatility and exports: a panel data analysis
    Journal of Economic Studies, 2016, 43, (2), 203-221 View citations (20)
11. Idiosyncratic variation of the US Dollar
    Economics Letters, 2016, 144, (C), 7-9

2015

12. An investigation of systemic stress and interdependencies within the Eurozone and Euro Area countries
    Economic Modelling, 2015, 48, (C), 52-69 View citations (9)
13. Are People Who Participate in Cultural Activities More Satisfied with Life?
    Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2015, 122, (1), 135-146 View citations (14)
14. Carry funding and safe haven currencies: A threshold regression approach
    Journal of International Money and Finance, 2015, 59, (C), 185-202 View citations (54)
    See also Working Paper Carry Funding and Safe Haven Currencies: A Threshold Regression Approach, CESifo Working Paper Series (2014) View citations (3) (2014)
15. Currency forecast errors and carry trades at times of low interest rates: Evidence from survey data on the yen/dollar exchange rate
    Journal of International Money and Finance, 2015, 53, (C), 1-19 View citations (11)
16. Education and the local equity bias around the world
    Journal of International Financial Markets, Institutions and Money, 2015, 39, (C), 65-88 View citations (10)
    See also Working Paper Education and the local equity bias around the world, Working Papers (2015) View citations (8) (2015)
17. Exchange rate forecasts and expected fundamentals
    Journal of International Money and Finance, 2015, 53, (C), 235-256 View citations (22)
    See also Working Paper Exchange rate forecasts and expected fundamentals, Kiel Working Papers (2014) View citations (3) (2014)
18. Half-lives of currencies and aggregation bias
    Economics Letters, 2015, 135, (C), 58-60 View citations (11)
19. Measuring the dollar–euro permanent equilibrium exchange rate using the unobserved components model
    Journal of International Money and Finance, 2015, 53, (C), 20-35 View citations (6)
20. Microstructure order flow: statistical and economic evaluation of nonlinear forecasts
    Journal of International Financial Markets, Institutions and Money, 2015, 39, (C), 40-52 View citations (5)
    See also Working Paper Microstructure Order Flow: Statistical and Economic Evaluation of Nonlinear Forecasts, SIRE Discussion Papers (2010) (2010)

2014

21. Exchange Rate Pass-Through in Developing and Emerging Markets: A Survey of Conceptual, Methodological and Policy Issues, and Selected Empirical Findings
    Journal of Development Studies, 2014, 50, (1), 101-143 View citations (67)
22. Real Exchange Rates, the Trade Balance and Net Foreign Assets: Long-Run Relationships and Measures of Misalignment
    Open Economies Review, 2014, 25, (4), 635-653 View citations (4)

2013

23. A new approach to tests of pricing-to-market
    Journal of International Money and Finance, 2013, 32, (C), 654-667 View citations (3)
24. Does the euro dominate Central and Eastern European money markets?
    Journal of International Money and Finance, 2013, 32, (C), 700-718 View citations (4)
    See also Working Paper Does the euro dominate Central and Eastern European money markets?, SIRE Discussion Papers (2010) View citations (1) (2010)
25. Equilibrium exchange rate determination and multiple structural changes
    Journal of Empirical Finance, 2013, 22, (C), 52-66 View citations (4)
    See also Working Paper Equilibrium Exchange Rate Determination and Multiple Structural Changes, SIRE Discussion Papers (2010) View citations (3) (2010)
26. Nominal interest rates and stationarity
    Review of Quantitative Finance and Accounting, 2013, 40, (4), 741-745 View citations (4)
    See also Working Paper Nominal Interest Rates and Stationarity, SIRE Discussion Papers (2010) View citations (2) (2010)
27. Stock market reaction to fed funds rate surprises: State dependence and the financial crisis
    Journal of Banking & Finance, 2013, 37, (11), 4025-4037 View citations (65)
    See also Working Paper Stock Market Reaction to Fed Funds Rate Surprises: State Dependence and the Financial Crisis, SIRE Discussion Papers (2012) (2012)

2012

28. Debate: Scotland's fiscal options—a response to Midwinter
    Public Money & Management, 2012, 32, (3), 161-163
29. IMF Support and Inter-Regime Exchange Rate Volatility
    Open Economies Review, 2012, 23, (1), 193-211 View citations (1)
    See also Working Paper IMF Support and Inter-regime Exchange rate Volatility, Working Papers (2007) (2007)
30. Realized and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom
    Journal of Money, Credit and Banking, 2012, 44, (6), 1091-1116 View citations (17)
    Also in Journal of Money, Credit and Banking, 2012, 44, (6), 1091-1116 (2012) View citations (3)
    See also Working Paper Realised and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom, Working Papers (2011) View citations (4) (2011)
31. The role of institutions in cross-section income and panel data growth models: A deeper investigation on the weakness and proliferation of instruments
    Journal of Comparative Economics, 2012, 40, (1), 127-140 View citations (15)
    See also Working Paper The Role of Institutions in Cross-Section Income and Panel Data Growth Models: A Deeper Investigation on the Weakness and Proliferation of Instruments, SIRE Discussion Papers (2010) View citations (2) (2010)

2011

32. CLIMBING TO THE TOP? FOREIGN DIRECT INVESTMENT AND PROPERTY RIGHTS
    Economic Inquiry, 2011, 49, (1), 289-302 View citations (18)
    See also Working Paper Climbing to the top? Foreign Direct Investment and Property Rights, SIRE Discussion Papers (2009) (2009)
33. Remilitarization and the End of the Gold Bloc in 1936
    De Economist, 2011, 159, (3), 305-321 View citations (1)
34. The global dimension to fiscal sustainability
    Journal of Macroeconomics, 2011, 33, (2), 137-150 View citations (17)
    See also Working Paper The Global Dimension to Fiscal Sustainability, Working Papers (2008) (2008)

2010

35. Do Institutions Matter for Foreign Direct Investment?
    Open Economies Review, 2010, 21, (2), 201-219 View citations (117)
    See also Working Paper Do Institutions Matter for Foreign Direct Investment?, SIRE Discussion Papers (2008) View citations (3) (2008)
36. Three-Regime Asymmetric STAR Modeling and Exchange Rate Reversion
    Journal of Money, Credit and Banking, 2010, 42, (7), 1447-1467 View citations (8)
    Also in Journal of Money, Credit and Banking, 2010, 42, (7), 1447-1467 (2010) View citations (2)

2009

37. Capital Flows and Growth in Developing Countries: A Dynamic Panel Data Analysis
    Oxford Development Studies, 2009, 37, (2), 101-122 View citations (10)
38. MONETARY TRANSMISSION MECHANISM IN CENTRAL AND EASTERN EUROPE: SURVEYING THE SURVEYABLE
    Journal of Economic Surveys, 2009, 23, (2), 277-327 View citations (63)
    See also Working Paper Monetary Transmission Mechanism in Central and Eastern Europe: Surveying the Surveyable, OECD Economics Department Working Papers (2008) View citations (14) (2008)
39. Monetary policy shocks and stock returns: evidence from the British market
    Financial Markets and Portfolio Management, 2009, 23, (4), 401-410 View citations (31)
    See also Working Paper Monetary Policy Shocks and Stock Returns: Evidence from the British Market, Working Papers (2006) View citations (15) (2006)
40. Real exchange rates and real interest rate differentials: A present value interpretation
    European Economic Review, 2009, 53, (8), 952-970 View citations (31)
    See also Working Paper Real exchange rates and real interest rate differentials: a present value interpretation, IEW - Working Papers (2009) View citations (31) (2009)
41. Sterling in crisis, 1964–1967
    European Review of Economic History, 2009, 13, (3), 437-459 View citations (3)
    See also Working Paper Sterling in crisis: 1964-1967, NBER Working Papers (2009) View citations (8) (2009)

2008

42. Catching-up and inflation differentials in a heterogeneous monetary union: Some implications for the euro area and new EU Member States
    Economic Systems, 2008, 32, (1), 4-16 View citations (10)
43. Productivity, Demand, and Regulated Price Effects Revisited: An Analysis of the Real Bilateral Exchange Rates of Four New EU Member States
    Emerging Markets Finance and Trade, 2008, 44, (3), 48-65 View citations (6)
44. Trade Costs, Trade Balances and Current Accounts: An Application of Gravity to Multilateral Trade
    Open Economies Review, 2008, 19, (5), 557-578 View citations (6)
    See also Working Paper TRADE COSTS, TRADE BALANCES AND CURRENT ACCOUNTS: AN APPLICATION OF GRAVITY TO MULTILATERAL TRADE, Working Papers (2007) (2007)
45. US trade and exchange rate volatility: A real sectoral bilateral analysis
    Journal of Macroeconomics, 2008, 30, (1), 238-259 View citations (60)
    See also Working Paper US Trade and Exchange Rate Volatility: A Real Sectoral Bilateral Analysis, Working Papers (2006) View citations (8) (2006)

2007

46. Disaggregate Real Exchange Rate Behaviour
    Open Economies Review, 2007, 18, (4), 389-404 View citations (3)
    See also Working Paper Disaggregate Real Exchange Rate Behaviour, Working Papers (2007) View citations (3) (2007)
47. Fatal attraction: Using distance to measure contagion in good times as well as bad
    Review of Financial Economics, 2007, 16, (3), 259-273 View citations (24)
    Also in Review of Financial Economics, 2007, 16, (3), 259-273 (2007) View citations (1)
48. Real exchange rates, imperfect substitutability, and imperfect competition
    Journal of Macroeconomics, 2007, 29, (4), 639-664 View citations (41)
49. The impact of central bank intervention on exchange-rate forecast heterogeneity
    Journal of the Japanese and International Economies, 2007, 21, (1), 38-63 View citations (22)
    See also Working Paper The impact of Central Bank intervention on exchange rate forecasts heterogeneity, ULB Institutional Repository (2007) View citations (14) (2007)

2006

50. Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues
    Journal of Economic Surveys, 2006, 20, (2), 257-324 View citations (26)
    See also Working Paper Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues, Working Papers (2005) View citations (80) (2005)
51. Monetary Transmission in Central and Eastern Europe: Gliding on a Wind of Change
    Focus on European Economic Integration, 2006, (1), 44-87 View citations (31)
52. Real exchange rates and real interest rates: a nonlinear perspective
    Recherches économiques de Louvain, 2006, 72, (2), 177-194 View citations (3)
    See also Working Paper Real exchange rates and real interest rates: a nonlinear perspective, Post-Print (2006) (2006)

2005

53. Do fundamentals matter for the D-Mark/Euro-Dollar? A regime switching approach
    Global Finance Journal, 2005, 15, (3), 321-335 View citations (12)
    See also Working Paper Do Fundamentals Matter for the D-Mark/Euro-Dollar? A Regime Switching Approach, Hannover Economic Papers (HEP) (2003) View citations (4) (2003)
54. EXOGENEITY IN A RECENT EXCHANGE RATE MODEL: A REPLY
    South African Journal of Economics, 2005, 73, (4), 747-753 View citations (1)
55. Interest rate interactions in the classical gold standard, 1880-1914: was there any monetary independence?
    Journal of Monetary Economics, 2005, 52, (2), 307-327 View citations (27)
56. Markov switching regimes in a monetary exchange rate model
    Economic Modelling, 2005, 22, (3), 485-502 View citations (75)
    See also Working Paper Markov Switching Regimes In A Monetary Exchange Rate Model, Royal Economic Society Annual Conference 2004 (2004) View citations (1) (2004)
57. The monetary approach to exchange rates in the CEECs
    The Economics of Transition, 2005, 13, (2), 395-416 View citations (78)
    See also Working Paper The monetary approach to exchange rates in the CEECs, Macroeconomics (2004) View citations (6) (2004)

2004

58. Can portfolio adjustments explain deviations of consumption from permanent income?: An empirical study of UK data
    The North American Journal of Economics and Finance, 2004, 15, (3), 313-331 View citations (1)
59. Catching up: The role of demand, supply and regulated price effects on the real exchange rates of four accession countries
    The Economics of Transition, 2004, 12, (1), 153-179 View citations (40)
    See also Working Paper Catching Up: The Role of Demand, Supply and Regulated Price Effects on the Real Exchange Rates of Four Accession Countries, CESifo Working Paper Series (2003) View citations (19) (2003)
60. Currency spillovers and tri-polarity: a simultaneous model of the US dollar, German mark and Japanese yen
    Journal of International Money and Finance, 2004, 23, (1), 99-111 View citations (9)
    See also Working Paper Currency Spillovers and Tri-Polarity: A Simultaneous Model of the US Dollar, German Mark and Japanese Yen, CEPR Discussion Papers (1999) View citations (2) (1999)
61. ESTIMATION OF THE EQUILIBRIUM REAL EXCHANGE RATE FOR SOUTH AFRICA1
    South African Journal of Economics, 2004, 72, (2), 282-304 View citations (44)
62. Filtering the BEER: A permanent and transitory decomposition
    Global Finance Journal, 2004, 15, (1), 29-56 View citations (32)
    See also Working Paper Filtering the Beer: A Permanent and Transitory Decomposition, IMF Working Papers (2000) View citations (78) (2000)
63. International parity relationships between the USA and Japan
    Japan and the World Economy, 2004, 16, (1), 17-34 View citations (71)
64. Nonlinear Exchange Rate Dynamics in Target Zones
    Focus on European Economic Integration, 2004, (1), 46-69 View citations (5)

2003

65. Credibility and Interest Rate Discretion in the ERM
    Open Economies Review, 2003, 14, (4), 351-368 View citations (7)
66. Hydrothermal recharge and discharge across 50 km guided by seamounts on a young ridge flank
    Nature, 2003, 421, (6923), 618-621 View citations (1)
67. Models of exchange rate expectations: how much heterogeneity?
    Journal of International Financial Markets, Institutions and Money, 2003, 13, (2), 113-136 View citations (53)
    See also Working Paper Models of exchange rate expectations: how much heterogeneity ?, Post-Print (2003) View citations (58) (2003)
68. The inter-war gold exchange standard: credibility and monetary independence
    Journal of International Money and Finance, 2003, 22, (1), 1-32 View citations (19)
    See also Working Paper The Inter-War Gold Exchange Standard: Credibility and Monetary Independence, NBER Working Papers (2001) View citations (3) (2001)

2002

69. A Method for Indicating Economic Transition with an Application to Albania
    Eastern Economic Journal, 2002, 28, (4), 465-480 View citations (1)
70. Aggregate and disaggregate measures of the foreign exchange risk premium
    International Review of Economics & Finance, 2002, 11, (1), 57-84 View citations (20)
71. Modelling the Long–run Real Effective Exchange Rate of the New Zealand Dollar
    Australian Economic Papers, 2002, 41, (4), 519-537 View citations (17)
    See also Working Paper Modelling the long-run real effective exchange rate of the New Zealand Dollar, Reserve Bank of New Zealand Discussion Paper Series (2001) View citations (7) (2001)
72. Towards the fundamentals of technical analysis: analysing the information content of High, Low and Close prices
    Economic Modelling, 2002, 19, (3), 353-374 View citations (28)

2001

73. The Instability of the Money Demand Function: An I(2) Interpretation
    Oxford Bulletin of Economics and Statistics, 2001, 63, (4), 475-495 View citations (5)
74. The law of one price for transitional Ukraine
    Economics Letters, 2001, 73, (2), 251-256 View citations (9)
75. The spot-forward relationship revisited: an ERM perspective
    Journal of International Financial Markets, Institutions and Money, 2001, 11, (1), 29-52 View citations (4)

2000

76. An Assessment of the Causes of the Abandonment of the Gold Standard by the U.S. in 1933
    Southern Economic Journal, 2000, 67, (2), 448-459
77. Expectations Formation and Risk in Three Financial Markets: Surveying What the Surveys Say
    Journal of Economic Surveys, 2000, 14, (1), 69-100 View citations (71)
78. Is the foreign exchange market 'risky'? Some new survey-based results
    Journal of Multinational Financial Management, 2000, 10, (1), 1-14 View citations (13)
79. Modeling the ECU against the U.S. Dollar: A Structural Monetary Interpretation
    Journal of Business & Economic Statistics, 2000, 18, (4), 436-50 View citations (22)
80. Realignment expectations and the US dollar, 1890-1897: Was there a 'Peso problem'?
    Journal of Monetary Economics, 2000, 46, (3), 605-620 View citations (28)
81. The Long-Run Relationship Between Real Exchange Rates and Real Interest Rate Differentials: A Panel Study
    IMF Staff Papers, 2000, 47, (1), 5 View citations (84)
    See also Working Paper The Long-Run Relationship Between Real Exchange Rates and Real Interest Rate Differentials: A Panel Study, IMF Working Papers (1999) View citations (28) (1999)

1999

82. Asset Market and Balance of Payments Characteristics: An Eclectic Exchange Rate Model for the Dollar, Mark and Yen
    Open Economies Review, 1999, 10, (1), 5-29 View citations (9)
    See also Working Paper Asset Market and Balance of Payments Characteristics: An Eclectic Exchange Rate Model for the Dollar, Mark, and Yen, IMF Working Papers (1995) View citations (6) (1995)
83. Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions
    IMF Staff Papers, 1999, 46, (1), 5 View citations (21)
    See also Working Paper Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions, IMF Working Papers (1998) View citations (9) (1998)
84. Exchange Rate Behaviour: Are Fundamentals Important?
    Economic Journal, 1999, 109, (459), F673-91 View citations (70)
85. Technical Analysis in the Foreign Exchange Market: A Cointegration-Based Approach
    Multinational Finance Journal, 1999, 3, (3), 147-172 View citations (7)
86. The Asian currency crash: were badly driven fundamentals to blame?
    Journal of Asian Economics, 1999, 10, (4), 537-550 View citations (24)
87. The Japan Yen Foreign Exchange Volatility Redux; A Dual Relationship
    European Research Studies Journal, 1999, II, (1-4), 3-14
88. The width of the band and exchange rate mean-reversion: some further ERM-based results
    Journal of International Money and Finance, 1999, 18, (3), 411-428 View citations (32)

1998

89. Monetary-based models of the exchange rate: a panel perspective
    Journal of International Financial Markets, Institutions and Money, 1998, 8, (1), 1-19 View citations (28)
90. On the Japanese Yen-U.S. Dollar Exchange Rate: A Structural Econometric Model Based on Real Interest Differentials
    Journal of the Japanese and International Economies, 1998, 12, (1), 75-102 View citations (20)
    See also Working Paper On the Japanese Yen-US Dollar Exchange Rate: A Structural Econometric Model Based on Real Interest Differentials, CEPR Discussion Papers (1997) View citations (2) (1997)
91. On the mean-reverting properties of target zone exchange rates: Some evidence from the ERM
    European Economic Review, 1998, 42, (8), 1493-1523 View citations (47)
92. What determines real exchange rates?: The long and the short of it
    Journal of International Financial Markets, Institutions and Money, 1998, 8, (2), 117-153 View citations (75)
    See also Working Paper What Determines Real Exchange Rates? The Long and Short of it, IMF Working Papers (1997) View citations (165) (1997)

1997

93. Business Conditions and Speculative Assets
    The Manchester School of Economic & Social Studies, 1997, 65, (4), 379-93 View citations (6)
94. Crash! Expectational Aspects of the Departures of the United Kingdom and the United States from the Inter-War Gold Standard
    Explorations in Economic History, 1997, 34, (2), 174-194 View citations (2)
95. On Fundamentals And Exchange Rates: A Casselian Perspective
    The Review of Economics and Statistics, 1997, 79, (4), 655-664 View citations (99)
96. Some tests of market microstructure hypotheses in the foreign exchange market
    Journal of Multinational Financial Management, 1997, 7, (3), 203-229 View citations (11)

1996

97. Currency forecasters are heterogeneous: confirmation and consequences
    Journal of International Money and Finance, 1996, 15, (5), 665-685 View citations (113)
98. Hétérogénéité des prévisionnistes: une exploration des anticipations sur le marché des changes
    Économie et Prévision, 1996, 125, (4), 109-115
99. Long-Run Exchange Rate Modeling: A Reply to Moosa
    IMF Staff Papers, 1996, 43, (2), 455-456
100. Panel unit root tests and real exchange rates
     Economics Letters, 1996, 50, (1), 7-11 View citations (135)

1995

101. Consumption, Income, and International Capital Market Integration
     IMF Staff Papers, 1995, 42, (3), 552-576 View citations (20)
     See also Working Paper Consumption, Income, and International Capital Market Integration, IMF Working Papers (1994) View citations (8) (1994)
102. Exchange rates, financial innovation and divisia money: the sterling/dollar rate 1972-1990
     Journal of International Money and Finance, 1995, 14, (4), 493-513 View citations (15)
103. Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence
     IMF Staff Papers, 1995, 42, (3), 437-489 View citations (124)
     See also Working Paper Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence, IMF Working Papers (1995) View citations (115) (1995)
104. Stock prices, dividends and retention: Long-run relationships and short-run dynamics
     Journal of Empirical Finance, 1995, 2, (2), 135-151 View citations (10)

1994

105. Empirical evidence on the recent behavior and usefulness of simple-sum and weighted measures of the money stock
     Proceedings, 1994, (Mar), 73-109 View citations (35)
     Also in Review, 1994, (Mar), 73-109 (1994) View citations (24)
106. On the Expectations View of the Term Structure, Term Premia and Survey-Based Expectations
     Economic Journal, 1994, 104, (426), 1070-86 View citations (24)
107. The monetary model of the exchange rate: long-run relationships, short-run dynamics and how to beat a random walk
     Journal of International Money and Finance, 1994, 13, (3), 276-290 View citations (219)

1993

108. Long-Run Purchasing Power Parity: Is It for Real?
     The Review of Economics and Statistics, 1993, 75, (4), 690-95 View citations (71)
     See also Working Paper LONG RUN PURCHASING POWER PARITY: IS IT FOR REAL?, Dundee Discussion Papers in Economics View citations (67)
109. Regional House Prices in Britain: Long-Run Relationships and Short-Run Dynamics
     Scottish Journal of Political Economy, 1993, 40, (1), 43-55 View citations (92)
110. Stock prices, efficiency and cointegration: The case of the UK
     International Review of Economics & Finance, 1993, 2, (3), 251-265 View citations (7)
111. The Efficiency of CAC Stock Price Forecasts: a Survey Based Perspective
     Revue Économique, 1993, 44, (5), 991-1000 View citations (3)
112. The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting
     IMF Staff Papers, 1993, 40, (1), 89-107 View citations (115)
     See also Working Paper The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium and Forecasting, IMF Working Papers (1992) View citations (15) (1992)

1992

113. A stable US money demand function, 1874-1975
     Economics Letters, 1992, 39, (2), 191-198 View citations (7)
114. Employment in Manufacturing: A Long‐run Relationship and Short‐run Dynamics
     Journal of Economic Studies, 1992, 19, (5), -
115. Exchange Rate Economics: A Survey
     IMF Staff Papers, 1992, 39, (1), 1-57 View citations (179)
     See also Working Paper Exchange Rate Economics: A Survey, IMF Working Papers (1991) View citations (58) (1991)
116. Exchange Rate Survey Data: A Disaggregated G-7 Perspective
     The Manchester School of Economic & Social Studies, 1992, 60, 47-62 View citations (17)

1991

117. Efficiency in the Forward Foreign Exchange Market: Weekly Tests of the Australian/US Dollar Exchange Rate January 1984‐March 1987
     The Economic Record, 1991, 67, (3), 237-242 View citations (5)
118. Exchange Rates, Policy Convergence, and the European Monetary System
     The Review of Economics and Statistics, 1991, 73, (3), 553-58 View citations (42)
     See also Working Paper Exchange Rates, Policy Convergence and the European Monetary System, CEPR Discussion Papers (1990) View citations (3) (1990)
119. The monetary approach to the exchange rate: Long-run relationships and coefficient restrictions
     Economics Letters, 1991, 37, (2), 179-185 View citations (36)

1990

120. Are Foreign Exchange Market Forecasters "Rational"? Some Survey-Based Tests
     The Manchester School of Economic & Social Studies, 1990, 58, (3), 229-41 View citations (13)
     See also Working Paper ARE FOREIGN EXCHANGE MARKET FORECASTERS 'RATIONAL'?: SOME SURVEY BASED TESTS, Dundee Discussion Papers in Economics View citations (8)
121. Consumption, Cointegration and Rational Expectations: Some Australian Evidence
     Australian Economic Papers, 1990, 29, (54), 40-52 View citations (6)
122. Expectations Formation and Risk in Four Foreign Exchange Markets
     Oxford Economic Papers, 1990, 42, (3), 544-61 View citations (30)
123. Rational Expectations, Bubbles and Monetary Models of the Exchange Rate: The Australian/U.S. Dollar Rate during the Recent Float
     Australian Economic Papers, 1990, 29, (54), 1-20 View citations (10)
124. Savings and Rational Expectations: A Correction and Further Observations
     Economic Journal, 1990, 100, (403), 1277-79
125. The Intertemporal Government Budget Constraint in the U.K., 1961-1986
     The Manchester School of Economic & Social Studies, 1990, 58, (4), 329-47 View citations (2)
126. The Term Structure of Forward Foreign Exchange Premia: The Inter-war Experience
     The Manchester School of Economic & Social Studies, 1990, 58, (1), 54-65 View citations (11)

1989

127. Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K
     Economic Journal, 1989, 99, (394), 83-91 View citations (2)
128. Foreign exchange market efficiency and cointegration: Some evidence from the recent float
     Economics Letters, 1989, 29, (1), 63-68 View citations (50)
129. Government Expenditure under Rational Expectations: Some Estimates for the U.K., Canada, Germany, and the U.S
     Public Finance = Finances publiques, 1989, 44, (3), 419-36
130. Interest Rate Parity: Some New Evidence
     Bulletin of Economic Research, 1989, 41, (4), 255-74 View citations (20)
131. The Efficiency of the Market for Bank Accepted Bills
     The Economic Record, 1989, 65, (3), 225-233

1988

132. Assets Markets, the Current Account and Exchange Rate Determination: An Empirical Model of the Sterling/Dollar Rate 1973-1983
     Australian Economic Papers, 1988, 27, (51), 213-32 View citations (1)
133. Covered interest parity and UK monetary 'news'
     Economics Letters, 1988, 26, (1), 53-56
134. Exchange Rates and the "News": Some Evidence Using U.K. Survey Data
     The Manchester School of Economic & Social Studies, 1988, 56, (1), 69-76 View citations (6)
135. Metals Prices, Efficiency and Cointegration: Some Evidence from the London Metal Exchange
     Bulletin of Economic Research, 1988, 40, (3), 235-39 View citations (27)
136. Monetary Policy and the Real Interest Rate: Some U.K. Evidence
     Scottish Journal of Political Economy, 1988, 35, (4), 361-71
137. On Risk, Rationality and Excessive Speculation in the Deutschmark-U.S. Dollar Exchange Market: Some Evidence Using Survey Data
     Oxford Bulletin of Economics and Statistics, 1988, 50, (2), 107-23 View citations (32)
138. Testing Rational Expectations and Efficiency in the London Metal Exchange
     Oxford Bulletin of Economics and Statistics, 1988, 50, (1), 41-52 View citations (14)
139. The Term Structure of Interest Rates in the UK
     Bulletin of Economic Research, 1988, 40, (4), 287-99 View citations (19)

1987

140. Consumer Expenditure, the Demand for Money, and the Hall Hypothesis
     Empirical Economics, 1987, 12, (1), 3-17
141. On the specification of granger-causality tests using the cointegration methodology
     Economics Letters, 1987, 25, (2), 149-153 View citations (29)
142. The demand for international reserves in a regime of floating exchange rates: Some empirical evidence
     Economics Letters, 1987, 23, (2), 189-192
143. The efficiency of the forward exchange market: Some evidence for the pound sterling-US dollar exchange rate using residuals from the LUS class
     Economics Letters, 1987, 25, (1), 71-74 View citations (1)

1986

144. Intervention and sterilisation under floating exchange rates: The UK 1973-1983
     European Economic Review, 1986, 30, (2), 345-364 View citations (10)
145. On Lagged Adjustment, Permanent Income, Expectations Formation and the Demand for Money
     Oxford Bulletin of Economics and Statistics, 1986, 48, (1), 61-72 View citations (1)
146. The velocity of money and the random walk hypothesis
     Economics Letters, 1986, 20, (1), 63-66

1985

147. 'News' and the 1920's experience with floating exchange rates
     Economics Letters, 1985, 17, (4), 379-383 View citations (1)
148. Are deviations from purchasing power parity efficient? Some further answers
     Review of World Economics (Weltwirtschaftliches Archiv), 1985, 121, (4), 638-645 View citations (3)
149. Asset Markets and the Exchange Rate: A Structural Model of the Sterling‐Dollar Rate 1972–1982
     Journal of Economic Studies, 1985, 12, (3), 3-20
150. Buffer Stocks, Exchange Rates and Deviations from Purchasing Power Parity
     Empirical Economics, 1985, 10, (3), 163-75
151. Public Sector Borrowing, the Money Supply and Interest Rates
     Oxford Bulletin of Economics and Statistics, 1985, 47, (3), 249-73
152. The norman conquest of $4.86 and the asset approach to the exchange rate
     Journal of International Money and Finance, 1985, 4, (3), 373-387

1984

153. The Monetary Approach to the Exchange Rate and the 1920s' Experience with Floating Exchange Rates
     Journal of Economic Studies, 1984, 11, (3), 14-25

1983

154. Some Tests of the Rational Expectations Hypothesis in the Foreign Exchange Market
     Scottish Journal of Political Economy, 1983, 30, (3), 235-50 View citations (6)
155. Tests of Efficiency and the Impact of 'News' in Three Foreign Exchange Markets: The Experience of the 1920's
     Bulletin of Economic Research, 1983, 35, (2), 123-44 View citations (3)

Books

2009

1. Exchange Rate Economics
   Books, Edward Elgar Publishing View citations (9)
2. The Political Economy of Financing Scottish Government
   Books, Edward Elgar Publishing View citations (6)

Edited books

2014

1. Credibility and the International Monetary Regime
   Cambridge Books, Cambridge University Press

2012

2. Credibility and the International Monetary Regime
   Cambridge Books, Cambridge University Press View citations (14)

2010

3. Currency Union and Exchange Rate Issues
   Books, Edward Elgar Publishing View citations (2)

1991

4. EXCHANGE RATE ECONOMICS, vol Two volume set
   Books, Edward Elgar Publishing View citations (48)

Chapters

2010

1. International Experiences in Operating Exchange Rate Regimes: Drawing Lessons from the United Arab Emirates
   Chapter 6 in Currency Union and Exchange Rate Issues, 2010
2. Introduction
   Chapter 1 in Currency Union and Exchange Rate Issues, 2010

2008

3. Macroeconomic Fundamentals and the Exchange Rate
   Chapter 7 in Currency and Competitiveness in Europe, 2008