Editor, Journal of Business Finance and Accounting, 1990-5
Member: American Finance Association
European Finance Association
Royal Economic Society
Referee for: Journal of Finance, Journal of Financial Economics, Review of Financial
Studies, Journal of Money, Credit and Banking, Journal of Banking and Finance,
Journal of International Money and Finance, Journal of International Financial Markets,
Institutions and Money, Journal of Futures Markets, Journal of Business Finance and
Accounting, Applied Financial Economics, Oxford Bulletin of Economics and Statistics,
Economics Letters, Journal of Forecasting, Journal of Financial Regulation and
Compliance, Economic Affairs, International Review of Financial Analysis, Journal of
International Financial Mark
Both the economic and the political economy arguments point to fast EMU accession of NMS. Looking at the 'classical' optimum currency area criteria, i.e. trade integration, co-movement of business cycles and actual factor mobility, NMS' record is not worse, on average, than that of the current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic shocks. After joining the EMU, the common currency should help NMS to develop additional intra- EMU trade links, further synchronize business cycle and increase factor mobility. Both theoretical arguments and empirical experience demonstrates that so-called real convergence accompanies nominal convergence, and that there is synergy rather than a trade-off between the two.
Authored by: Marek Dąbrowski
Published in 2005
-4
R
The national income and product accounts provide a framework for measuring macroeconomic aggregates like GDP, GNP, NNP, and their components. GDP is the total market value of all final goods and services produced within a country in a given period of time. It is measured using both expenditure and income approaches to avoid double counting. The national accounts help analyze the structure and performance of an economy.
27
Consumption and Investment
1-
31
4-
02
- Consumption is a key component of aggregate demand and is determined by disposable income, wealth, interest rates and consumer confidence.
- Investment is another major component of aggregate
Business cycles occur due to disturbances that push an economy above or below full employment. Recessions can be caused by substantial cuts in government or consumer spending, while booms can be generated by surges in public or private spending. Monetary policy, by influencing money supply and interest rates, can also produce booms or recessions by affecting consumer and business spending levels. Historical evidence shows that monetary factors, such as financial panics, interest rates, and monetary contractions have been major causes of business cycle fluctuations.
Macro Strategy Review Summary Jan 2014-Aug 2015Jim Welsh
This document provides a summary of analysis from the author's Macro Strategy Review publications from 2014 to 2015. It discusses the author's approach of combining fundamental and technical analysis. As an example, in 2014 the author correctly predicted a rally in the US dollar based on signals from the euro currency and implications for emerging markets. The summary highlights several insights the author provided regarding the dollar, euro, commodities, and emerging markets. It positions the Macro Strategy Review as a valuable resource that helps navigate challenging markets by incorporating both fundamental and technical analysis.
This document discusses the impact of global changes and shocks on European labor markets and production sectors. It analyzes factors like unit labor costs, wages, productivity, and interest rates that contributed to economic divergence following the German reunification and Eurozone crises. The author argues that price and wage rigidities in labor markets anchored imbalances, while financial sectors absorbed some impacts. Market forces magnified the effects. The author advocates for policies like fiscal devaluation, wage moderation, industrial support, and a new view of the relationship between states and markets to help economies converge.
Devanayagam_Impact of Macroeconomic Variables on Global Stock MarketsDevanayagam N
The document presents a study analyzing the impact of macroeconomic variables on global stock market performance. It tests the hypothesis that GDP growth, inflation, and unemployment significantly impact stock market indices. Regression models show GDP growth and inflation have a significant, direct relationship with stock market changes. The study concludes macroeconomic factors robustly explain parts of stock market performance, allowing better understanding and guidance for investors.
This document outlines the course units for a semester of Micro Economics, Macro Economics, and Indian Development and Policy. For Micro Economics, the 4 units cover introduction to economics and basic concepts; supply and demand theory; production theory; and costs, revenues, and different market structures. For Macro Economics, the units cover macroeconomic concepts and differences from micro; central banking and monetary policy; fiscal policy; and business cycles and interest theory. For Indian Development and Policy, the units cover concepts of development; growth of agriculture and industry; problems in the Indian economy; and development policies regarding unemployment, poverty, and inequality. Suggested readings are also provided.
An attempt is made to explore the basic implications of differences in productivity growth rates in countries within a monetary union and tailor them to the case of the EU new member countries running up to the EMU. By using the mathematical model of Harrod-Balassa-Samuelson effect and linking productivity and relative price dynamics with monetary policy, it is shown that: 1) productivity growth in faster-growing countries (FGC) leads to either inflation there, or union-wide exchange rate appreciation, or both in certain proportions, depending on the monetary policy stance taken by the union, but does not cause increase in inflation in slower-growing countries (SGC) by itself, unless the union’s monetary authorities take pro-inflationary policy; 2) because of presence of FGC, the SGC do not become less competitive in the world, and can benefit from increased export of their goods to FGC, provided their labour markets are flexible enough; 3) the real challenge for SGC posed by FGC is not inflation, but rather loss of jobs and export revenues, if their labour markets are not flexible enough to adjust under tight union-wide monetary policy aimed at keeping the union-wide overall price level unchanged, or the labour productivity increase in FGC is not met by adequate improvement in labour productivity in SGC. It should be noted, however, that this ‘adequate improvement’ is enough to constitute only a fraction of the productivity growth in FGC.
Authored by: Nikolai Zoubanov
Published in 2003
Both the economic and the political economy arguments point to fast EMU accession of NMS. Looking at the 'classical' optimum currency area criteria, i.e. trade integration, co-movement of business cycles and actual factor mobility, NMS' record is not worse, on average, than that of the current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic shocks. After joining the EMU, the common currency should help NMS to develop additional intra- EMU trade links, further synchronize business cycle and increase factor mobility. Both theoretical arguments and empirical experience demonstrates that so-called real convergence accompanies nominal convergence, and that there is synergy rather than a trade-off between the two.
Authored by: Marek Dąbrowski
Published in 2005
-4
R
The national income and product accounts provide a framework for measuring macroeconomic aggregates like GDP, GNP, NNP, and their components. GDP is the total market value of all final goods and services produced within a country in a given period of time. It is measured using both expenditure and income approaches to avoid double counting. The national accounts help analyze the structure and performance of an economy.
27
Consumption and Investment
1-
31
4-
02
- Consumption is a key component of aggregate demand and is determined by disposable income, wealth, interest rates and consumer confidence.
- Investment is another major component of aggregate
Business cycles occur due to disturbances that push an economy above or below full employment. Recessions can be caused by substantial cuts in government or consumer spending, while booms can be generated by surges in public or private spending. Monetary policy, by influencing money supply and interest rates, can also produce booms or recessions by affecting consumer and business spending levels. Historical evidence shows that monetary factors, such as financial panics, interest rates, and monetary contractions have been major causes of business cycle fluctuations.
Macro Strategy Review Summary Jan 2014-Aug 2015Jim Welsh
This document provides a summary of analysis from the author's Macro Strategy Review publications from 2014 to 2015. It discusses the author's approach of combining fundamental and technical analysis. As an example, in 2014 the author correctly predicted a rally in the US dollar based on signals from the euro currency and implications for emerging markets. The summary highlights several insights the author provided regarding the dollar, euro, commodities, and emerging markets. It positions the Macro Strategy Review as a valuable resource that helps navigate challenging markets by incorporating both fundamental and technical analysis.
This document discusses the impact of global changes and shocks on European labor markets and production sectors. It analyzes factors like unit labor costs, wages, productivity, and interest rates that contributed to economic divergence following the German reunification and Eurozone crises. The author argues that price and wage rigidities in labor markets anchored imbalances, while financial sectors absorbed some impacts. Market forces magnified the effects. The author advocates for policies like fiscal devaluation, wage moderation, industrial support, and a new view of the relationship between states and markets to help economies converge.
Devanayagam_Impact of Macroeconomic Variables on Global Stock MarketsDevanayagam N
The document presents a study analyzing the impact of macroeconomic variables on global stock market performance. It tests the hypothesis that GDP growth, inflation, and unemployment significantly impact stock market indices. Regression models show GDP growth and inflation have a significant, direct relationship with stock market changes. The study concludes macroeconomic factors robustly explain parts of stock market performance, allowing better understanding and guidance for investors.
This document outlines the course units for a semester of Micro Economics, Macro Economics, and Indian Development and Policy. For Micro Economics, the 4 units cover introduction to economics and basic concepts; supply and demand theory; production theory; and costs, revenues, and different market structures. For Macro Economics, the units cover macroeconomic concepts and differences from micro; central banking and monetary policy; fiscal policy; and business cycles and interest theory. For Indian Development and Policy, the units cover concepts of development; growth of agriculture and industry; problems in the Indian economy; and development policies regarding unemployment, poverty, and inequality. Suggested readings are also provided.
An attempt is made to explore the basic implications of differences in productivity growth rates in countries within a monetary union and tailor them to the case of the EU new member countries running up to the EMU. By using the mathematical model of Harrod-Balassa-Samuelson effect and linking productivity and relative price dynamics with monetary policy, it is shown that: 1) productivity growth in faster-growing countries (FGC) leads to either inflation there, or union-wide exchange rate appreciation, or both in certain proportions, depending on the monetary policy stance taken by the union, but does not cause increase in inflation in slower-growing countries (SGC) by itself, unless the union’s monetary authorities take pro-inflationary policy; 2) because of presence of FGC, the SGC do not become less competitive in the world, and can benefit from increased export of their goods to FGC, provided their labour markets are flexible enough; 3) the real challenge for SGC posed by FGC is not inflation, but rather loss of jobs and export revenues, if their labour markets are not flexible enough to adjust under tight union-wide monetary policy aimed at keeping the union-wide overall price level unchanged, or the labour productivity increase in FGC is not met by adequate improvement in labour productivity in SGC. It should be noted, however, that this ‘adequate improvement’ is enough to constitute only a fraction of the productivity growth in FGC.
Authored by: Nikolai Zoubanov
Published in 2003
This document provides a detailed curriculum vitae for Stephen P. Tokarick, including his education, professional employment history, research interests, honors and awards, and research activities. It outlines his PhD in Economics from the University of Pittsburgh and career as a senior economist at the International Monetary Fund, where he has conducted research on issues related to international trade, globalization, and agricultural trade policy. The CV also lists numerous working papers and publications in refereed journals.
This document is an abstract for a paper that analyzes the strengths, weaknesses, opportunities, and threats (SWOT) of economic imperialism. The paper aims to review justifications for economic imperialism in recent literature and analyze whether weaknesses within economics or threats from outside the discipline could jeopardize the future progress of economic science. Specifically, it will examine if unification of the mainstream economic approach and methodological empowerment are sufficient to compensate for epistemological limitations imposed by economic imperialism. The paper presented at the 4th International Conference on Emerging Trends in Scientific Research aims to provide a SWOT analysis of the trend of economics expanding its influence and analytical tools to non-economic issues over the past 25 years.
This document summarizes key concepts from Lecture 2 of a macroeconomics course. It defines theory as a framework for understanding relationships between cause and effect. Economic models are then introduced as simplified representations of how parts of the economy function, relying on assumptions and economic variables that can take different values. Rational behavior and marginal concepts are explained, showing how rational actors make decisions by weighing marginal costs against marginal benefits. Finally, principles of economics are outlined regarding how individuals make decisions, interact in markets, and how the overall economy works.
The Causal Analysis of the Relationship between Inflation and Output Gap in T...inventionjournals
The purpose of the paper is to study dynamic relationships between the inflation and output gap by using Granger causality, Impulse response and variance decompositions analysis within VECM framework for the quarterly data over the first period of 2003 and second period of 2016. The results of the study indicate that the output gap Granger cause the inflation in Turkey both in short-and long-runs. Also, sign of the causality is negative and same causal relationships between two variables hold beyond the sample period. The results should be taken as an evidence of the conclusion that the output gap has important implications for the CBRT's monetary policy.
Jorge Katz - Seminario 'Nuevos enfoques sobre políticas de innovación'Fundación Ramón Areces
The document discusses shortcomings in prevailing economic theories regarding natural resource-based growth in Latin America from an evolutionary perspective. It addresses topics that received theories have not adequately explored, including: 1) The impact of macroeconomic management on economic structure and growth, 2) Environmental sustainability and natural resource-based growth, 3) Expansion of the natural resource frontier and lack of public goods, 4) Social exclusion and governance. Future research topics are identified regarding natural resource industries, sectoral institutions, expanding frontiers, and developing domestic capabilities.
1) The document presents three ARIMA models analyzing factors that influence the USD/EUR exchange rate from January 1994 to October 2007.
2) The first model is a simple ARIMA model of the exchange rate alone. The second and third models add macroeconomic indicators as covariates, including interest rates, price indices, money supply measures, and stock market indices.
3) The best fitting model found that the exchange rate has a linear relationship to its own past three values and the difference between the log stock market indices of the European Union and USA over their past three values.
This document discusses key macroeconomic indicators used to measure economic performance at the national level, including Gross Domestic Product (GDP), Gross National Product (GNP), and others. It explains how GDP can be calculated using different approaches, such as production, income, and expenditure. It also distinguishes between nominal GDP, which reflects current prices, and real GDP, which is adjusted for inflation to reflect volume changes. Other macroeconomic indicators mentioned include net national product and gross national income.
This document provides an acknowledgements section for the author Mannig J. Simidian and an introduction to the topics that will be covered in the macroeconomics textbook and course. It thanks various individuals who influenced the author and provided guidance. It also outlines some of the key macroeconomic concepts that will be discussed, including real GDP, inflation, unemployment, models, endogenous and exogenous variables, market clearing, and the relationship between microeconomics and macroeconomics.
This document is a paper analyzing inflation and monetary policy in Russia between 1992-2001. It seeks to identify the main factors driving inflation in Russia during this period through empirical testing and econometric analysis. The paper finds that money expansion and exchange rate depreciation fueled inflation, though the underlying trends changed over time. Until 1999, fiscal policy posed the biggest obstacle to disinflation, while later, attempts to target both money supply and exchange rate simultaneously through monetary policy caused inflationary pressures.
как можно было предотвратить кризис в ссср в 1991 годуDmitry Tseitlin
This document outlines steps that economists recommend the Soviet Union take to avert economic collapse and transition to a market economy. It recommends liberalizing prices, corporatizing state enterprises, stabilizing government spending and credit, moderating unemployment, and opening the economy internationally. The document was created by economists for Soviet leaders to provide guidance on urgently needed reforms to arrest the worsening economic crisis facing the Soviet Union.
This document provides an introduction to macroeconomics. It defines macroeconomics as the study of the economy as a whole, including measures of total output, unemployment, inflation, and exchange rates in both the short and long run. It outlines the key concerns of macroeconomics as output growth, unemployment, and inflation/deflation. It also describes the components of the macroeconomy, including households, firms, government, and the rest of the world, and how they interact through goods and services, labor, and money markets according to the circular flow model. Fiscal and monetary policy are introduced as the tools used by government to influence the macroeconomy.
This paper shows that the monetary policy paradigm that was in place before the financial crisis worked very well and that the crisis occurred only after policy makers deviated from that paradigm. The paper also evaluates monetary policy during the financial crisis by dividing the crisis into three periods: pre-panic, panic and post-panic. It shows that the extraordinary measures did not work well in the pre-panic or the post-panic periods; instead they helped bring on the panic, even though they may have some positive impact during the panic. The implication of the paper is that the crisis does not call for a new paradigm for monetary policy.
Authored by: John B. Taylor
Published in 2010
Macroeconomics studies the overall economy rather than individual markets. It develops models of the relationships between factors like inflation, national income, unemployment, savings, investment, and international trade. The scope of macroeconomics includes theories of national income, employment, the general price level, economic development, international trade, money, and business fluctuations. Macroeconomics helps businesses understand trends in the domestic and foreign economic environments so they can make informed decisions about expanding or setting marketing strategies.
This document outlines a course on Macroeconomics & Business Environment. The course aims to understand macroeconomic goals, markets, and how policy changes influence business. Key topics include measuring GDP, aggregate demand and supply, unemployment, inflation, fiscal and monetary policy. The course utilizes case studies and has 30 sessions. It aims to explain the economic environment and impacts of macroeconomic policies on business.
The document outlines several key objectives of macroeconomic policies: to maximize national income and economic growth to raise living standards, achieve sustainability through growth without undue burdens, maintain full employment so those willing and able to work can find jobs, ensure price stability through low-moderate inflation rather than zero inflation, balance international payments through equivalent exports and imports, and increase productivity through greater output per unit of labor or inputs.
This document discusses macroeconomics and macroeconomic policy debates from classical and Keynesian perspectives. It covers unemployment, price stability, and exchange rates. On unemployment, classical economists believe full employment is always achieved through flexible wages, while Keynesians believe unemployment is normal and government intervention is needed. On price stability, classical economists see prices adjusting to maintain full employment while Keynesians see stable prices with variable output. Exchange rates are influenced by demand and supply factors in both frameworks.
Macroeconomics examines economies at a large scale by studying aggregate variables such as output, inflation, and unemployment. It analyzes differences between the micro and macro levels. Economists use models to understand relationships between endogenous and exogenous variables in both the short-run, where prices are sticky, and long-run, where prices are flexible and technology evolves.
Prosperity in a Changing World – Structural change and economic growthI W
This document summarizes a policy paper from the Cologne Institute for Economic Research on structural change and economic growth. The paper argues that there is no single superior economic model and different models can successfully deal with structural change. While service sectors have grown in most advanced economies, the level of development and impact of structural change varies significantly between countries. The paper finds no clear relationship between the size of a country's service sector or speed of structural change and its economic prosperity as measured by income, unemployment, and investment. Economic success depends more on how well a country supports key drivers of change like globalization, innovation, and knowledge through flexible markets and value chains.
This chapter introduces macroeconomics and the tools used by macroeconomists. It discusses important macroeconomic issues like economic growth, unemployment, inflation, and recessions. Macroeconomists study indicators like GDP, inflation, and unemployment rates. The chapter outlines the structure of the book, which will cover classical economic theory, growth theory, and business cycle theory. It explains that macroeconomists use models to examine different issues and that these models vary in their treatment of price flexibility.
This document provides a summary of the education and professional experience of Lisa Rutström, an independent researcher and honorary professor. It outlines her educational background, including a bachelor's degree from Stockholm School of Economics and a PhD from the same institution. It then lists her current research fields and honors received. Finally, it details her extensive professional experience, including positions held at various universities and research organizations as well as consulting work done for organizations like the World Bank.
This document provides information about an economics course titled "Macroeconomic Theory" taught by Professor M. Mohsin in spring 2016. It outlines the purpose of the course as introducing important current topics in macroeconomics and the technical tools used to discuss them. It lists nine required textbook chapters and journal articles. The evaluation method includes three assignments, a midterm exam, and a cumulative final exam. The course covers topics such as economic growth models, dynamic equilibrium models, monetary policy, and real business cycle theory.
This document provides a detailed curriculum vitae for Stephen P. Tokarick, including his education, professional employment history, research interests, honors and awards, and research activities. It outlines his PhD in Economics from the University of Pittsburgh and career as a senior economist at the International Monetary Fund, where he has conducted research on issues related to international trade, globalization, and agricultural trade policy. The CV also lists numerous working papers and publications in refereed journals.
This document is an abstract for a paper that analyzes the strengths, weaknesses, opportunities, and threats (SWOT) of economic imperialism. The paper aims to review justifications for economic imperialism in recent literature and analyze whether weaknesses within economics or threats from outside the discipline could jeopardize the future progress of economic science. Specifically, it will examine if unification of the mainstream economic approach and methodological empowerment are sufficient to compensate for epistemological limitations imposed by economic imperialism. The paper presented at the 4th International Conference on Emerging Trends in Scientific Research aims to provide a SWOT analysis of the trend of economics expanding its influence and analytical tools to non-economic issues over the past 25 years.
This document summarizes key concepts from Lecture 2 of a macroeconomics course. It defines theory as a framework for understanding relationships between cause and effect. Economic models are then introduced as simplified representations of how parts of the economy function, relying on assumptions and economic variables that can take different values. Rational behavior and marginal concepts are explained, showing how rational actors make decisions by weighing marginal costs against marginal benefits. Finally, principles of economics are outlined regarding how individuals make decisions, interact in markets, and how the overall economy works.
The Causal Analysis of the Relationship between Inflation and Output Gap in T...inventionjournals
The purpose of the paper is to study dynamic relationships between the inflation and output gap by using Granger causality, Impulse response and variance decompositions analysis within VECM framework for the quarterly data over the first period of 2003 and second period of 2016. The results of the study indicate that the output gap Granger cause the inflation in Turkey both in short-and long-runs. Also, sign of the causality is negative and same causal relationships between two variables hold beyond the sample period. The results should be taken as an evidence of the conclusion that the output gap has important implications for the CBRT's monetary policy.
Jorge Katz - Seminario 'Nuevos enfoques sobre políticas de innovación'Fundación Ramón Areces
The document discusses shortcomings in prevailing economic theories regarding natural resource-based growth in Latin America from an evolutionary perspective. It addresses topics that received theories have not adequately explored, including: 1) The impact of macroeconomic management on economic structure and growth, 2) Environmental sustainability and natural resource-based growth, 3) Expansion of the natural resource frontier and lack of public goods, 4) Social exclusion and governance. Future research topics are identified regarding natural resource industries, sectoral institutions, expanding frontiers, and developing domestic capabilities.
1) The document presents three ARIMA models analyzing factors that influence the USD/EUR exchange rate from January 1994 to October 2007.
2) The first model is a simple ARIMA model of the exchange rate alone. The second and third models add macroeconomic indicators as covariates, including interest rates, price indices, money supply measures, and stock market indices.
3) The best fitting model found that the exchange rate has a linear relationship to its own past three values and the difference between the log stock market indices of the European Union and USA over their past three values.
This document discusses key macroeconomic indicators used to measure economic performance at the national level, including Gross Domestic Product (GDP), Gross National Product (GNP), and others. It explains how GDP can be calculated using different approaches, such as production, income, and expenditure. It also distinguishes between nominal GDP, which reflects current prices, and real GDP, which is adjusted for inflation to reflect volume changes. Other macroeconomic indicators mentioned include net national product and gross national income.
This document provides an acknowledgements section for the author Mannig J. Simidian and an introduction to the topics that will be covered in the macroeconomics textbook and course. It thanks various individuals who influenced the author and provided guidance. It also outlines some of the key macroeconomic concepts that will be discussed, including real GDP, inflation, unemployment, models, endogenous and exogenous variables, market clearing, and the relationship between microeconomics and macroeconomics.
This document is a paper analyzing inflation and monetary policy in Russia between 1992-2001. It seeks to identify the main factors driving inflation in Russia during this period through empirical testing and econometric analysis. The paper finds that money expansion and exchange rate depreciation fueled inflation, though the underlying trends changed over time. Until 1999, fiscal policy posed the biggest obstacle to disinflation, while later, attempts to target both money supply and exchange rate simultaneously through monetary policy caused inflationary pressures.
как можно было предотвратить кризис в ссср в 1991 годуDmitry Tseitlin
This document outlines steps that economists recommend the Soviet Union take to avert economic collapse and transition to a market economy. It recommends liberalizing prices, corporatizing state enterprises, stabilizing government spending and credit, moderating unemployment, and opening the economy internationally. The document was created by economists for Soviet leaders to provide guidance on urgently needed reforms to arrest the worsening economic crisis facing the Soviet Union.
This document provides an introduction to macroeconomics. It defines macroeconomics as the study of the economy as a whole, including measures of total output, unemployment, inflation, and exchange rates in both the short and long run. It outlines the key concerns of macroeconomics as output growth, unemployment, and inflation/deflation. It also describes the components of the macroeconomy, including households, firms, government, and the rest of the world, and how they interact through goods and services, labor, and money markets according to the circular flow model. Fiscal and monetary policy are introduced as the tools used by government to influence the macroeconomy.
This paper shows that the monetary policy paradigm that was in place before the financial crisis worked very well and that the crisis occurred only after policy makers deviated from that paradigm. The paper also evaluates monetary policy during the financial crisis by dividing the crisis into three periods: pre-panic, panic and post-panic. It shows that the extraordinary measures did not work well in the pre-panic or the post-panic periods; instead they helped bring on the panic, even though they may have some positive impact during the panic. The implication of the paper is that the crisis does not call for a new paradigm for monetary policy.
Authored by: John B. Taylor
Published in 2010
Macroeconomics studies the overall economy rather than individual markets. It develops models of the relationships between factors like inflation, national income, unemployment, savings, investment, and international trade. The scope of macroeconomics includes theories of national income, employment, the general price level, economic development, international trade, money, and business fluctuations. Macroeconomics helps businesses understand trends in the domestic and foreign economic environments so they can make informed decisions about expanding or setting marketing strategies.
This document outlines a course on Macroeconomics & Business Environment. The course aims to understand macroeconomic goals, markets, and how policy changes influence business. Key topics include measuring GDP, aggregate demand and supply, unemployment, inflation, fiscal and monetary policy. The course utilizes case studies and has 30 sessions. It aims to explain the economic environment and impacts of macroeconomic policies on business.
The document outlines several key objectives of macroeconomic policies: to maximize national income and economic growth to raise living standards, achieve sustainability through growth without undue burdens, maintain full employment so those willing and able to work can find jobs, ensure price stability through low-moderate inflation rather than zero inflation, balance international payments through equivalent exports and imports, and increase productivity through greater output per unit of labor or inputs.
This document discusses macroeconomics and macroeconomic policy debates from classical and Keynesian perspectives. It covers unemployment, price stability, and exchange rates. On unemployment, classical economists believe full employment is always achieved through flexible wages, while Keynesians believe unemployment is normal and government intervention is needed. On price stability, classical economists see prices adjusting to maintain full employment while Keynesians see stable prices with variable output. Exchange rates are influenced by demand and supply factors in both frameworks.
Macroeconomics examines economies at a large scale by studying aggregate variables such as output, inflation, and unemployment. It analyzes differences between the micro and macro levels. Economists use models to understand relationships between endogenous and exogenous variables in both the short-run, where prices are sticky, and long-run, where prices are flexible and technology evolves.
Prosperity in a Changing World – Structural change and economic growthI W
This document summarizes a policy paper from the Cologne Institute for Economic Research on structural change and economic growth. The paper argues that there is no single superior economic model and different models can successfully deal with structural change. While service sectors have grown in most advanced economies, the level of development and impact of structural change varies significantly between countries. The paper finds no clear relationship between the size of a country's service sector or speed of structural change and its economic prosperity as measured by income, unemployment, and investment. Economic success depends more on how well a country supports key drivers of change like globalization, innovation, and knowledge through flexible markets and value chains.
This chapter introduces macroeconomics and the tools used by macroeconomists. It discusses important macroeconomic issues like economic growth, unemployment, inflation, and recessions. Macroeconomists study indicators like GDP, inflation, and unemployment rates. The chapter outlines the structure of the book, which will cover classical economic theory, growth theory, and business cycle theory. It explains that macroeconomists use models to examine different issues and that these models vary in their treatment of price flexibility.
This document provides a summary of the education and professional experience of Lisa Rutström, an independent researcher and honorary professor. It outlines her educational background, including a bachelor's degree from Stockholm School of Economics and a PhD from the same institution. It then lists her current research fields and honors received. Finally, it details her extensive professional experience, including positions held at various universities and research organizations as well as consulting work done for organizations like the World Bank.
This document provides information about an economics course titled "Macroeconomic Theory" taught by Professor M. Mohsin in spring 2016. It outlines the purpose of the course as introducing important current topics in macroeconomics and the technical tools used to discuss them. It lists nine required textbook chapters and journal articles. The evaluation method includes three assignments, a midterm exam, and a cumulative final exam. The course covers topics such as economic growth models, dynamic equilibrium models, monetary policy, and real business cycle theory.
Milton Friedman, the "naive Keynesian" (as opposed to Neo-Keynesian) theory began with his 1950s reinterpretation of the consumption function. Friedman represented the Monetarist perspective. Paul Samuelson explain the principles of Keynesian economics and how to think about economics. Samuelson is considered to be one of the founders of neo-Keynesian economics and a seminal figure in the development of neoclassical economics. Friedrich Hayek was an Austrian and British economist and philosopher best known for his defence of classical liberalism.
Karl Marx, Friedrich Engels, Milton Friedman, and Paul Samuelson were famous economists.
Marx and Engels developed Marxist theory together, with Marx publishing influential works like The Communist Manifesto and Das Kapital. Engels published The Condition of the Working Class in England and collaborated with Marx.
Friedman represented the Monetarist perspective and reinterpreted the consumption function in the 1950s. He argued against "naive Keynesian" theory.
Samuelson was considered one of the founders of neo-Keynesian economics. He helped develop neoclassical economics and explained Keynesian principles.
Dimitri Zenghelis has an extensive career in economic analysis related to climate change and sustainability. He has held senior positions at organizations including the London School of Economics, the UK Treasury, and the Stern Review. Currently he is a Senior Visiting Fellow at the Grantham Research Institute and works as an economic consultant for projects on developing climate and energy policy. He has authored numerous peer-reviewed papers and publications on topics including green growth, infrastructure investment, and the economics of climate change.
This document provides an overview and syllabus for an advanced macroeconomics course at Harvard University. The course will use dynamic optimization tools and models to analyze important macroeconomic policy issues such as growth, fiscal and monetary policy, consumption and investment, and business cycles. It will combine theoretical techniques with real-world applications and current policy debates. The course is divided into five sections covering growth models, overlapping generations models, consumption and investment, business cycles, and fiscal and monetary policy. Students will be evaluated based on a midterm, problem sets, and a final exam. Required readings draw from textbooks and academic articles.
Abdiweli M. Ali is an Associate Professor of Economics at Niagara University. He has extensive experience in teaching and researching topics such as growth, development, and various fields of economics. He received his Ph.D. in Economics from George Mason University and has published numerous refereed articles and presented at several conferences. His research focuses on the relationship between institutions, economic freedom, and economic growth.
This document provides an overview of macroeconomics concepts from a textbook. It discusses what macroeconomists study, including issues like recessions, government spending, and inflation. It also covers the tools macroeconomists use, such as economic models, and key concepts around prices being flexible or sticky in the short and long run. The document outlines the chapters in the textbook, which cover classical economic theory, growth theory, business cycles, and macroeconomic policy.
This document provides an overview of macroeconomic policy and trends in the UK from 1979-1997, focusing on the Conservative governments led by Margaret Thatcher and John Major. It discusses the following key points:
- The monetarist experiment of 1979-1981 aimed to control inflation through strict monetary targets but failed due to high interest rates causing recession and unemployment.
- Exchange rate policy became increasingly important, culminating in the UK joining the Exchange Rate Mechanism in 1990 in an attempt to control inflation.
- Inflation was reduced permanently but at the cost of severe recession and high unemployment, particularly damaging to UK manufacturing. Alternative approaches centered on managing inflation through exchange rates.
This document provides an overview and outline of macroeconomics topics covered in a textbook. It discusses the key issues macroeconomists study like recessions, inflation, and unemployment. It introduces economic models as simplified representations of reality used to study relationships between variables and devise policies. The document outlines different models used to examine short-run issues when prices are sticky versus long-run issues when prices are flexible. It concludes with a summary of macroeconomics as the study of the overall economy and growth.
This document provides an introduction to using Stata for financial modeling. It discusses various multivariate models including the CAPM, Fama-French 3-factor model, 4-factor model, and 5-factor model. It also covers topics like data management, statistical testing, and addressing issues like multicollinearity, outliers, autocorrelation, and heteroskedasticity. Suggested readings on multivariate models and factors like momentum, asset growth, and corporate governance are also provided.
This document outlines the unit outline for ECON141 - Introductory Econometrics. The aim of the unit is to introduce students to econometric techniques used in economics, finance, and marketing. Students will learn to apply these techniques and appreciate their strengths and limitations. The unit builds on prior statistics knowledge and emphasizes practical applications over mathematical proofs. Students will use the ECSTAT software program in Microsoft Excel. The unit requires a minimum of 9 hours of work per week including lectures, tutorials, and computer practicals. Prerequisites include prior courses in statistics and economics.
Dr. Osman Kadri Koca is an economist who received his B.A. from Karadeniz Technical University in 2003 and his Ph.D. from UCL in 2006. His research areas include corporate finance, public finance, financial reporting, and international trade theory. He has worked as an investment analyst, banker, international finance specialist, and educator.
This document is the abstract of a master's thesis that examines the determinants of bank profitability in Western and Eastern Europe from 2005 to 2012. The thesis analyzes how bank-specific factors and macroeconomic variables impact two measures of bank profitability - return on assets and net interest margin - using data from 1324 commercial banks. It separately considers the pre-financial crisis period of 2005 to 2008 and the post-crisis period of 2009 to 2012 to see how the determinants of profitability may have changed. The analysis contributes new insights into bank profitability by considering some determinants not examined in previous studies and separating the sample into pre- and post-crisis periods.
The Department of Economics at the University of Exeter Business School strives for excellence in research and teaching. It is a small, friendly department with a strong research orientation that performed very strongly in the 2008 Research Assessment Exercise. The faculty publish widely in leading economics journals and hold influential editorial roles. The MSc programs equip students with transferable skills and graduates have found employment as professional economists. Students praise the high quality of teaching and competitive pricing of courses. The department and university provide an outstanding academic environment in a beautiful location.
This chapter introduces macroeconomics and the tools used in macroeconomic analysis. It discusses important macroeconomic issues like unemployment, inflation, and recessions. Economists use models to study these issues; models simplify reality by stripping out irrelevant details. A model of supply and demand for cars is presented to illustrate how endogenous and exogenous variables work in a model. The chapter outlines the rest of the book and distinguishes between models that assume flexible prices, describing the long-run economy, versus sticky prices, describing the short-run.
Solution Manual for Microeconomics, 17th edition by Christopher T.S. Ragan C...Donc Test
Solution Manual for Microeconomics, 17th edition by Christopher T.S. Ragan Complete Verified Chapter's.docx
Solution Manual for Microeconomics, 17th edition by Christopher T.S. Ragan Complete Verified Chapter's.docx
Charles Kroncke is a professor of economics at Mount Saint Joseph University with over 20 years of teaching experience. He holds a Ph.D. in Economics from Auburn University and has held various teaching and administrative positions throughout his career. Currently, he teaches both undergraduate and graduate courses in economics and business and serves as the Chair of the Business Administration Department.
This document is a syllabus for a Business Economics course at Far Western University. It outlines the course description, objectives, units, and learning outcomes. The course aims to enhance students' understanding of macroeconomic theories and how to apply them to business decision making. Key topics covered include measuring national income, unemployment, inflation, consumption and savings functions, investment analysis, and fiscal and monetary policies. The course objectives are for students to analyze macroeconomic concepts and issues, understand economic indicators, and discuss macroeconomic equilibrium models.
This document is a project report that aims to model financial market forces using regression and sentiment analysis. It discusses modeling the behavior of bond, stock, and currency markets to test theories of mean reversion, volatility clustering, and the impact of sentiment on market movements. The report outlines the methodology used, which includes statistical analysis techniques like regression, sentiment analysis of news texts, and data visualization. Case studies and results are presented on summary statistics, autoregression, vector autoregression of different markets.
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Personal Details
Name: Laurence Sidney COPELAND
Nationality, Status: British, married, 2 adult sons
Contact: Tel: +44 1926 777280 (H) or +44 7939 050584
email: copelandL@cardiff.ac.uk
or laurence.copeland@gmail.com
webpage: http://business.cardiff.ac.uk/people/staff/laurence-copeland
Languages: French (fluent), German, basic spoken Mandarin
Education: Manchester Grammar School, 1957-64
Brasenose College, Oxford: B.A.(Hon) (P.P.E.), 1964-7
Manchester University: M.A.(Econ), 1973-4
Manchester University: Ph.D., 1980-5
Current Employment:Emeritus Professor of Finance, Cardiff Business School,
University of Cardiff, Jan.1996 to July 2013 (full-time)
Previous Posts: Professor of Finance, University of Stirling 1991-5
Lecturer, School of Management, University of Manchester
Institute of Science and Technology, 1976-90
Research Assistant, Dept. of Economics, University of
Manchester, 1974-5
Visiting appointments: Visiting Professor, New York University Graduate School of
Business Administration, NYC, 1982, 1983
Visiting Research Fellow, University of Lancaster, 1990
Visiting Research Professor, HK Baptist University, Hong Kong,
June 1995, 1997, 2000, 2001
Distinguished Visiting Fellow, La Trobe University, Melbourne,
Australia, September 2004
Visiting Professor, Leicester University, UK, Spring, 2014
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Publications
Refereed Journals
(with Wenna Lu) Dodging the Steamroller: Fundamentals versus the Carry Trade,
forthcoming Journal of International Financial Markets, Institutions & Money DOI
10.1016/j.intfin.2016.02.004
(with Joseph Elliott) The Effects of the 2008 UK Short Sales Ban, Journal of
Financial Regulation and Compliance, Vol. 21 (4), pp.334 – 352 DOI 10.1108/JFRC-11-2012-
0045
The EU Proposals for the Regulation of Alternative Investments, Economic Affairs,
32(3), Oct 2012
(with Woon Wong and Y Zeng), Information-Based Trade in the Shanghai Stock
Market , Global Finance Journal, 12, (2009), 180-190, doi:10.1016/j.gfj.2009.02.002
(with S. Heravi) StructuralBreaks in the Real Exchange Rate Adjustment Mechanism,
Applied Financial Economics, 19 (2), 2009, 121-34
The Death of the Credit Markets: Suicide, Homicide or Accidental Death?, Investment
Research and Analysis Journal, Investment Research and Analysis Journal, 3(1),
Spring 2008, 14-22
Arbitrage Bounds and the Time Series Properties of the Discount on UK Closed-End
Mutual Funds, Journal of Business Finance and Accounting, Vol. 34, Issue 1-2,
Jan/March 2007, 313-330
(with K. Lam and S. Jones) The Index Futures Market: Is Screen Trading More
Efficient?, Journal of Futures Markets, 24 (4), 2004, 337-357
(with B. Zhang) Volatility and Volume in Chinese Stock Markets, forthcoming Journal
of Chinese Economic and Business Studies, 1(3), 285-298, 2003
(with S. Jones) Intradaily Patterns in the Korean Index Futures Market, Asian
Economic Journal, Vol 16, No 2, 2002, 153-74
(with S. Jones) Default Probabilities of European Sovereign Debt: Market-Based
Estimates, presented at seminars at Cardiff, Swansea, Washington, Applied
Economics Letters, 2001, 8, 321-4
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(with Richard C. Stapleton and Ser-Huang Poon), The Determinants of Implied
Volatility: A Test Using LIFFE Option Prices, Journal of Business Finance and
Accounting, Sept/Oct 2000, 27(7/8)
(with P. Wang) Price and Net Asset Value of UK Investment Trusts: A Time Series
Approach, European Journal of Finance, 6 (3), 298-310, 2000
(with A.Abhyankar and W.Wong) LIFFE Cycles: Intraday Evidence from the FTSE-
100 Stock Index Futures Market, European Journal of Finance, 5 (1999), 123-39
(with A.Abhyankar and W.Wong) Uncovering Nonlinear Structure in Real-Time
Stock Market Indices: the S&P 500, the FTSE 100 and the DAX, Journal of Business
and Economic Statistics, 15, 1, 1-14, 1997
(with Michael J. Moore) A Comparison of Johansen and Phillips-Hansen
Cointegration Tests of Forward Market Efficiency: Baillie and Bollerslev Revisited,
Economics Letters, 47 (1995), 131-5
(with A.Abhyankar and W.Wong) Nonlinearity in Real-Time Stock Prices: Evidence
From the UK, January 1994, presented at the European Institute for Advanced Studies
in Management Conference on Empirical Research in Finance, Brussels, May 1994,
Society for Economic Dynamics and Control Annual Conference, UCLA, June 1994,
North American Econometric Soc. (Winter Meeting, Jan.1995), in Economic Journal,
Vol 105, Number 431, July 1995, 864-880
(with A.Abhyankar and W.Wong) Moment Condition Failure in High Frequency
Financial Data: Evidence from the S&P 500, Applied Economics Letters Vol. 2, 1995,
pp 288-90
(with P.Wang) Estimating Daily Seasonality in Foreign Exchange Rate Changes,
Journal of Forecasting, Vol 13, 1994, 519-528
(with A. Cheng and John O'Hanlon) Investment Trust Discounts and Abnormal
Returns: UK Evidence, Journal of Business Finance and Accounting, Vol. 21, No. 6,
Sept. 1994, 813-831
(with P.Wang) Estimating Daily Seasonals in Financial Time Series: the Use of High-
Pass spectral Filters, Economics Letters, Vol 43, pp.1-4, 1993
(with Richard C. Stapleton) The Duration and Volatility of Spot and Futures Prices,
Review of Futures Markets, Vol. 11, No.1, pp 14-21, 1993
(with Eric J. Levin) Reading the Message From the UK Indexed Bond Market: Real
Interest Rates, Expected Inflation and the Risk Premium, The Manchester School, 61,
June 1993, 13-34
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(with Richard C. Stapleton) Information, Interest Rates and the Volatility of Asset
Prices, Review of Quantitative Finance and Accounting, 3, March 1993, 99-115
Efficiency of the Forward Market Day by Day and Month by Month, Applied Financial
Economics, 3, 1993, pp79-87 (also presented at Eleventh International Symposium on
Forecasting, New York City, June 10th 1991)
(with Eric J. Levin) Real Interest Rates, Expected Inflation and the Inflation Uncertainty
Premium: Evidence from UK Index-Linked Bond Prices, Economics Letters, March1992
Cointegration Tests with Daily Exchange Rates, Oxford Bulletin of Economics and
Statistics, May 1991, pp.185-98
MarketEfficiencyBeforeandAfter the Crash,FiscalStudies, Volume 10, No.3, pp.13-33,
August 1989
Oil News and the Petropound: Some Tests, Economics Letters, 1984, Vol.16, Nos. 1-2,
pp.123-127, reprinted in "Exchange Rate Economics", edited by MacDonald, R. and
Taylor, M.P.
The Pound Sterling/US Dollar Exchange Rate and the 'News', Economics Letters, 1984,
Vol.15, Nos. 1-2, pp.109-113
Public Sector Prices and the Real Exchange Rate in the UK Recession, Bulletin of
Economic Research, Vol.35, No.2, November 1983, pp.97-121
Capital Investment in the UK, Chapter 1 of: "Capital Investment: Theory and Practice",
Managerial Finance, Volume 6, No.2, 1980, pp.1-12
Wage Inflation, Productivity and Wage-Leadership, Manchester School, September
1977, Volume XLV, No.3, pp.258-269:
Books
Exchange Rates and International Finance, 500pp., Prentice Hall, 1st ed September
1989, new editions 1994, 1998, 2004, 2008, 6th edition April 2014 (Chinese translation
2002, India International Student Edition 2007)
Book Contributions
(with Yanhui Zhu) Hedging Effectiveness in the Index Futures Market in Gregoriou,
G.N. and R. Pascalau (eds.) Financial Econometrics Modelling:Derivatives Pricing and
Hedge Funds and Term Structure Models, Palgrave-MacMillan, forthcoming 2011.
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The Non-Problem of Short Selling, Chapter 10, pp. 109-15 in Verdict on the Crash:
Causes and Policy Implications, P. Booth (ed), Institute of Economic Affairs, London,
2009
Currencies in The Global Investor Book of Investing Rules, 85-7, Harriman House Ltd,
Petersfield, UK, 2001
Discussion in The German Currency Union of 1990 - A Critical Assessment,
S.F.Frowen and J.Hölscher (eds), London: Macmillan ,1996
(with Richard C. Stapleton), A Model of Equity Volatility, in Money and Financial
Markets, (Mark P. Taylor ed.), Basil Blackwell, September 1991, pp.244-59
Exchange Rates and News: A Vector Autoregression Approach, September 1989,
Chapter 8 of Innovations in Open Economy Macroeconomics, Ronald MacDonald and
Mark Taylor (eds.), Basil Blackwell, pp.218-238
Book reviews
The Exchange Rate Environment, by Brooks, Cuthbertson and Mayes, for the
Manchester School, March 1987, Vol. LV, No.1, pp.95-6.
The Balance of Payments: New Perspectives on Open Economy Macroeconomics,
by Mark P. Taylor, for the Manchester School, Sept.1990, pp.324-5
Exchange rate Forecasting: Techniques and Applications, by Imad A Moosa, for the
International Journal of Forecasting, Vol 18, 2002, 153-4
Other Publications
Short Sales Bans: Shooting the Messenger? Cato Institute Briefing Paper no. 119,
September 14th 2010
Sterling and the Oil Market: the Evidence from Weekly Data, The Investment Analyst,
Vol.74, October 1984, pp.34-6.
Why does Government Preserve Lame Ducks?, Economic Affairs, Vol.6, No.6,
Aug./Sept 1986, pp.14-16.
Monetary Union, Financial Chaos, Parliamentary Review (Conference Edition), 1996,
99-100
The Black Hole at the Heart of Europe, The Times, October 1997
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The Rich Are Always Welcome, Western Mail, 1st September 2001
In the Long Run, You Need Dividends. Here's Why..., The Fleet Street Letter, 20th
July 2002, No. 2141
The Currency Carry Trade Anomaly, Journal of Business & Financial Affairs, 2014
Working Papers
Dodging the Steamroller: Fundamentals versus the Carry Trade (with Wenna Lu),
Cardiff Business School Working papers E2013/11, revised November 2013,
presented at Cardiff Finance Seminar, February 2014, at BMRC-DEMS Conference,
Brunel University, May 2014, at MMF Conference, Durham University, September
2014 and IPAG Financial Management Conference, Paris, December 2015
The CDS-Bond Basis in the 2008 Crisis and Beyond (with Marina Kryukova)
The Effects of Sentiment on Market Return and Volatility and The Cross-Sectional
Risk Premium of Sentiment-affected Volatility (with Yan Yang)
Research Grants
Detecting nonlinear dependence in stock market indices: the FTSE 100, the S&P500
and the DAX, (£4700 from Nuffield Foundation), to end Sept. 1995
AnomaliesinDailyExchange Rates, (£19,000 from INQUIRE- Institute for Quantitative
Investment Research), 1990-1
Leverage and the Volatility of Equity Prices, (£4220 from Leverhulme Trust to fund
collaboration with Professor R.C. Stapleton, Lancaster), 1990
Exchange Rate Determination with a Non-Constant Variance, (£2,500 from Nuffield
Foundation), completed end 1989
Efficiency of The Index Futures Markets, (£2,000 from Julian Hodge Institute of
Applied Macroeconomics), to fund collaboration with Professor K Lam, Hong Kong
Baptist University
Default Risk on Sovereign Debt in EMU, (£15,323 from Leverhulme Trust), starting
end-2001
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PPP in Greater China, (£1000 from World Bank Visiting Scholar fund)
Managing Financial Market Volatility (£248,697 from Knowledge Exploitation Fund),
October 2007 – February 2009
Volatility and Liquidity of Financial Markets, (£150,000 from Aviva Investors) October
2014 onwards
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UNIVERSITY TEACHING
At Cardiff Business School, University of Cardiff
BSc
Financial Economics 1998 - 2007
MSc
Principles of Finance 1998 – 2012
International Finance 2001-2013
Options and Other Derivatives 1998 – 2007
MBA
International Finance 2001-2003
PhD
Asset Pricing 2008 – 2013
At Dept of Economics,University of Leicester
MSc
International Finance 2013
At School of Management, University of Stirling
BSc
Investment Analysis 1991-1995
Corporate Finance 1991-1993
MSc
Investment Analysis 1991-1995
Corporate Finance 1991-1993
MBA
International Finance 1991-1995
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At Dept of Management Sciences, University of Manchester
Various courses mainly centred on undergraduate macroeconomics
At Graduate School of Business Administration, New York
University
MBA
Portfolio Management 1982, 1983 (Summer)
Research Student Supervision (Cardiff)
MSc
Summer dissertations 1997-2013 (average 6 per year)
PhD
Yanhui Zhu “Three Essays on Asset Pricing and Risk Management” 2008
(completed and graduated, currently Senior Lecturer, University of West of England)
Marina Kryukova “Credit Spread Determination and the Equity Market”, (completed
and graduated September 2014)
Wenna Lu “Currency Risk and The Carry Trade in the Long- and Short-Run” 2014
(completed and graduated, currently Lecturer, Cardiff Metropolitan University)
Jia Cao “Momentum versus Mean Reversion in the Equity Markets” (completed and
graduated July 2015, currently Lecturer, University of South Wales)
Yan Yang “Sentiment and the Stock Market”, (completed and graduated August
2014)
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Short Courses
International Financial Management (EU Tempus Program) Universities of Szceczin
and Gdansk (1995), Poland
Index-Linked Bond Pricing (Advanced Yield Curve Analysis Course), International
Faculty of Finance, London, twice per year, 1994 to 1997
Investing in the Global Equity Market (with A. Abhyankhar), Institute of Investment
Management Research, 2000
Credit Risk in Bond Markets, Institute of Investment Management Research, 2000
Portfolio Management for fund management clients of Lombard Street Research Ltd,
1998-2000
Investment Principles, for Brewin Dolphin Stock Brokers, Cardiff, 2006
International Financial Management, Management School, University of Poznan,
Poland, 2011
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Other Professional Activities
External examiner Queen's University, Belfast 1991-4
University of Keele 1992-4
University of Sheffield (M.A., M.B.A.) 1993-6
HK Baptist University, Hong Kong, June 1997-9
Essex University, Dept of Accounting and Finance, 1997 to date
Warwick University (M.A., M.B.A.), 2001 to date
PhD’s at Universities of Manchester, Strathclyde (2),
Lancaster, Reading, Imperial College, LaTrobe University
(Australia), Zaragoza, Autonoma Barcelona
Other Academic Roles
Co-director (with Gerald Holtham) of the Investment
Management Research Unit, Cardiff, 2005 to date
Panel Member, UK Commonwealth Scholarship Commission
Referee for numerous journals in economics and finance
Guest lecturer at:
Universities of Suzhou, Guangzhou (Zhongshan), Henan,
People’s Republic of China
Keynote Speaker, 9th International Conference on
Macroeconomic Analysis and International Finance, University
of Rethymno, May 26-28, 2005
Keynote Speaker, 2nd International Conference on Accounting
and Finance, University of Thessaloniki, August 26-28, 2008
Member of Editorial Board, Journal of Business & Financial
Affairs, 2012 to date
Broadcasts BBC Radio 4 and 5, BBC Wales, BBC TV, Sky News
(topics including: European Monetary Union, pensions, Budget,
tax policy, credit market crisis etc)
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Blogs for Institute of Economic Affairs, Thompson Reuters Great
Debate, Coreviewpoint Ltd
Other Guest speaker, Oxford Union debate on European Monetary
Union, May 30th 2002
Various presentations, panel membership etc. for Institute of
Economic Affairs, Civitas, Business for Sterling
Consultancy
Fixed-income market modelling for major European bank/fund manager 1992-5
FX strategist to Far Eastern fund manager 1994-2001
Exchange rate modelling for UK hedge fund 2004
Impact of FRS17 on shareprices (for financial sector PR consultants) 2005
Training for pension fund managers/consultant actuaries 2005
Training for stockbrokers, 2006
Major project on hedging equity market exposure for large European pension fund
manager, April 2007 – June 2008
Director, Coreviewpoint Ltd., 2001 to date
Director, Greymatter Ltd., 2004 to date
14 March 2016