Details about Ronald MacDonald

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

Access statistics for papers by Ronald MacDonald.

Last updated 2009-09-24. Update your information in the RePEc Author Service.

Short-id: pma235

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Working Papers

2009

1. 3-Regime symmetric STAR modeling and exchange rate reversion
   Working Papers, Department of Economics, University of Glasgow
2. Climbing to the top? Foreign Direct Investment and property rights
   Working Papers, Department of Economics, University of Glasgow
3. Exchange Rate Forecasters' Performance: Evidence of Skill?
   CESifo Working Paper Series, CESifo Group Munich
   Also in Working Papers, Department of Economics, University of Glasgow (2009)
4. Real exchange rates and real interest rate differentials: a present value interpretation
   IEW - Working Papers, Institute for Empirical Research in Economics - IEW
5. Sterling in crisis: 1964-1967
   NBER Working Papers, National Bureau of Economic Research, Inc
6. Technical Appendix-3-Regime asymmetric STAR modeling and exchange rate reversion
   Working Papers, Department of Economics, University of Glasgow
7. The Behavioural Zloty/Euro Equilibrium Exchange Rate
   CESifo Working Paper Series, CESifo Group Munich View citations

2008

8. 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
9. Do Institutions Matter for Foreign Direct Investment?
   Working Papers, Department of Economics, University of Glasgow View citations
10. International Money and Finance
    Working papers, University of Connecticut, Department of Economics View citations
11. Monetary Transmission Mechanism in Central and Eastern Europe: Surveying the Surveyable
    OECD Economics Department Working Papers, OECD, Economics Department View citations
    See also Journal Article in Journal of Economic Surveys (2009)
12. The Global Dimension to Fiscal Sustainability
    Working Papers, Department of Economics, University of Glasgow

2007

13. Behavioural equilibrium exchange rate estimates and implied exchange rate adjustments for ten countries
    Working Papers, Department of Economics, University of Glasgow
14. 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
15. Disaggregate Real Exchange Rate Behaviour
    Working Papers, Department of Economics, University of Glasgow
    See also Journal Article in Open Economies Review (2007)
16. IMF Support and Inter-regime Exchange rate Volatility
    Working Papers, Department of Economics, University of Glasgow
17. TRADE COSTS, TRADE BALANCES AND CURRENT ACCOUNTS: AN APPLICATION OF GRAVITY TO MULTILATERAL TRADE
    Working Papers, Department of Economics, University of Glasgow
    Also in CESifo Working Paper Series, CESifo Group Munich (2005) View citations
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations
    See also Journal Article in Open Economies Review (2008)

2006

18. A Re-examination of the link between Real Exchange Rates and Real Interest Rate Differentials
    Working Papers, Department of Economics, University of Glasgow
    Also in CESifo Working Paper Series, CESifo Group Munich (2003) View citations
19. 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 Group Munich View citations
20. Fundamental volatility is regime specific
    Nyenrode Research Papers Series, Nyenrode Business Universiteit
    Also in Working Papers, Department of Economics, University of Glasgow (2005)
21. Monetary Policy Shocks and Stock Returns: Evidence from the British Market
    Working Papers, Department of Economics, University of Glasgow
22. 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 Stephen M. Ross Business School View citations
23. Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable
    MNB Working Papers, Magyar Nemzeti Bank (The Central Bank of Hungary) View citations
24. Monetary transmission mechanism in Central and Eastern Europe: Gliding on a wind of change
    BOFIT Discussion Papers, Bank of Finland, Institute for Economies in Transition View citations
25. Real exchange rates and real interest rates: a nonlinear perspective
    Discussion Papers (REL - Recherches Economiques de Louvain), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) View citations
    Also in THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (1999) View citations
    Working Papers, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. (1999) View citations
    See also Journal Article in Recherches économiques de Louvain (2006)
26. Transmission Mechanism in Transition Economies: Surveying the Surveyable
    CESifo Working Paper Series, CESifo Group Munich
27. US Trade and Exchange Rate Volatility: A Real Sectoral Bilateral Analysis
    Working Papers, Department of Economics, University of Glasgow
    See also Journal Article in Journal of Macroeconomics (2008)

2005

28. Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues
    William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan Stephen M. Ross Business School View citations
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations
    Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) (2005) View citations
29. 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 Stephen M. Ross Business School View citations
    Also in CESifo Working Paper Series, CESifo Group Munich (2005) View citations

2004

30. Markov Switching Regimes In A Monetary Exchange Rate Model
    Royal Economic Society Annual Conference 2004, Royal Economic Society
    Also in Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Universität Hannover, Universität Hannover, Wirtschaftswissenschaftliche Fakultät (2002) View citations
    See also Journal Article in Economic Modelling (2005)
31. The Economic Case for Fiscal Federalism in Scotland
    Working papers, University of Connecticut, Department of Economics View citations

2003

32. 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 Group Munich View citations
    See also Journal Article in The Economics of Transition (2004)
33. Do Fundamentals Matter for the D-Mark/Euro-Dollar? A Regime Switching Approach
    Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Universität Hannover, Universität Hannover, Wirtschaftswissenschaftliche Fakultät
    See also Journal Article in Global Finance Journal (2005)
34. Estimation of the Equilibrium Real Exchange Rate for South Africa
    IMF Working Papers, International Monetary Fund View citations
    See also Journal Article in South African Journal of Economics (2004)
35. Fatal Attraction
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations
36. Fatal Attraction: A New Measure of Contagion
    IMF Working Papers, International Monetary Fund View citations
37. 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
    Also in Discussion Papers, University of Copenhagen. Department of Economics (2000) View citations
38. PPP and the Balassa Samuelson Effect: The Role of the DistributionSector
    DNB Staff Reports (discontinued), Netherlands Central Bank
    Also in IMF Working Papers, International Monetary Fund View citations
    CESifo Working Paper Series, CESifo Group Munich (2001) View citations
39. The Monetary Approach to Exchange Rates in the CEECs Relations and Output Performance
    Vienna Economics Papers, University of Vienna, Department of Economics
40. The monetary approach to exchange rates in the CEECs
    BOFIT Discussion Papers, Bank of Finland, Institute for Economies in Transition View citations
    See also Journal Article in The Economics of Transition (2005)

2002

41. Purchasing Power Parity and New Trade Theory
    IMF Working Papers, International Monetary Fund View citations
42. The Impact of Central Bank Intervention on Exchange-Rate Forecast Heterogeneity
    Working Papers, CEPII research center View citations
    Also in THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (2002) View citations
    See also Journal Article in Journal of the Japanese and International Economies (2007)

2001

43. A Real Differential View of Equilibrium Real Exchange Rate
    Discussion Paper Series In Economics And Econometrics, University of Southampton, Economics Division, School of Social Sciences View citations
44. 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
    See also Journal Article in Australian Economic Papers (2002)
45. The Inter-War Gold Exchange Standard: Credibility and Monetary Independence
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of International Money and Finance (2003)

2000

46. Concepts to calculate equilibrium exchange rates: an overview
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank, Research Centre View citations
47. Filtering the BEER - A Permanent and Transitory Decomposition
    IMF Working Papers, International Monetary Fund View citations
    See also Journal Article in Global Finance Journal (2004)
48. 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
49. Monetary policy independence in the ERM: was there any?
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.)
50. The Role of the Exchange Rate in Economic Growth
    Working Papers, Warwick - Development Economics Research Centre View citations
51. The role of the exchange rate in economic growth: a euro-zone perspective
    Research series, National Bank of Belgium View citations

1999

52. 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
    Also in Working Papers, Warwick Business School, Financial Econometrics Research Centre (1999)
    See also Journal Article in Journal of International Money and Finance (2004)
53. Models of Exchange Rate Expectations: Heterogeneous Evidence From Panel Data
    Working Papers, CEPII research center View citations
    Also in THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (1999) View citations
    Working Papers, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. (1999) View citations
54. The Long-Run Relationship Between Real Exchange Rates and Real Interest Rate Differentials - A Panel Study
    IMF Working Papers, International Monetary Fund View citations
    See also Journal Article in IMF Staff Papers (2000)

1998

55. Deviations of Exchange Rates from Purchasing Power Parity - A Story Featuring Two Monetary Unions
    IMF Working Papers, International Monetary Fund View citations
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1998) View citations
    See also Journal Article in IMF Staff Papers (1999)
56. Exchange Rates and Economic Fundamentals - A Methodological Comparison of BEERs and FEERs
    IMF Working Papers, International Monetary Fund View citations
57. What do we really know about exchange rates?
    Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) View citations

1997

58. 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
    See also Journal Article in Journal of the Japanese and International Economies (1998)
59. 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
60. What Determines Real Exchange Rates? The Long and Short of It
    IMF Working Papers, International Monetary Fund View citations

1995

61. 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
    See also Journal Article in Open Economies Review (1999)
62. Long-Run Exchange Rate Modeling - A Survey of the Recent Evidence
    IMF Working Papers, International Monetary Fund View citations

1994

63. Consumption, Income, and International Capital Market Integration
    IMF Working Papers, International Monetary Fund View citations

1992

64. The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium and Forecasting
    IMF Working Papers, International Monetary Fund View citations

1991

65. Exchange Rate Economics: A Survey
    IMF Working Papers, International Monetary Fund View citations

1990

66. Exchange Rates, Policy Convergence and the European Monetary System
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    See also Journal Article in The Review of Economics and Statistics (1991)
67. RECENT DEVELOPMENTS IN MONETARY THEORY
    Working Papers, New South Wales - School of Economics
68. 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

Undated

69. A Restatement of the Case for Fiscal Autonomy (or: The Barnett Formula - a formula for Rake's Progress)
    Working Papers, Department of Economics, University of Glasgow View citations

Journal Articles

2009

1. Capital Flows and Growth in Developing Countries: A Dynamic Panel Data Analysis
   Oxford Development Studies, 2009, 37, (2), 101-122
2. MONETARY TRANSMISSION MECHANISM IN CENTRAL AND EASTERN EUROPE: SURVEYING THE SURVEYABLE
   Journal of Economic Surveys, 2009, 23, (2), 277-327
   See also Working Paper (2008)

2008

3. 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
4. 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
5. Trade Costs, Trade Balances and Current Accounts: An Application of Gravity to Multilateral Trade
   Open Economies Review, 2008, 19, (5), 557-578
   See also Working Paper (2007)
6. US trade and exchange rate volatility: A real sectoral bilateral analysis
   Journal of Macroeconomics, 2008, 30, (1), 238-259
   See also Working Paper (2006)

2007

7. Disaggregate Real Exchange Rate Behaviour
   Open Economies Review, 2007, 18, (4), 389-404
   See also Working Paper (2007)
8. Fatal attraction: Using distance to measure contagion in good times as well as bad
   Review of Financial Economics, 2007, 16, (3), 259-273
9. Real exchange rates, imperfect substitutability, and imperfect competition
   Journal of Macroeconomics, 2007, 29, (4), 639-664 View citations
10. 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
    See also Working Paper (2002)

2006

11. Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues *
    Journal of Economic Surveys, 2006, 20, (2), 257-324
12. Real exchange rates and real interest rates: a nonlinear perspective
    Recherches économiques de Louvain, 2006, 72, (2), 177-194 View citations
    See also Working Paper (2006)

2005

13. Do fundamentals matter for the D-Mark/Euro-Dollar? A regime switching approach
    Global Finance Journal, 2005, 15, (3), 321-335
    See also Working Paper (2003)
14. EXOGENEITY IN A RECENT EXCHANGE RATE MODEL: A REPLY
    South African Journal of Economics, 2005, 73, (4), 747-753
15. 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
16. Markov switching regimes in a monetary exchange rate model
    Economic Modelling, 2005, 22, (3), 485-502 View citations
    See also Working Paper (2004)
17. THE REAL EXCHANGE RATE AND THE BALASSA-SAMUELSON EFFECT: THE ROLE OF THE DISTRIBUTION SECTOR
    Pacific Economic Review, 2005, 10, (1), 29-48 View citations
18. The monetary approach to exchange rates in the CEECs
    The Economics of Transition, 2005, 13, (2), 395-416 View citations
    See also Working Paper (2003)

2004

19. 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
20. 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
    See also Working Paper (2003)
21. 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
    See also Working Paper (1999)
22. ESTIMATION OF THE EQUILIBRIUM REAL EXCHANGE RATE FOR SOUTH AFRICA
    South African Journal of Economics, 2004, 72, (2), 282-304 View citations
    See also Working Paper (2003)
23. Filtering the BEER: A permanent and transitory decomposition
    Global Finance Journal, 2004, 15, (1), 29-56 View citations
    See also Working Paper (2000)
24. International parity relationships between the USA and Japan
    Japan and the World Economy, 2004, 16, (1), 17-34 View citations

2003

25. Credibility and Interest Rate Discretion in the ERM
    Open Economies Review, 2003, 14, (4), 351-368 View citations
26. Models of exchange rate expectations: how much heterogeneity?
    Journal of International Financial Markets, Institutions and Money, 2003, 13, (2), 113-136 View citations
27. The inter-war gold exchange standard: credibility and monetary independence
    Journal of International Money and Finance, 2003, 22, (1), 1-32 View citations
    See also Working Paper (2001)

2002

28. A Method for Indicating Economic Transition with an Application to Albania
    Eastern Economic Journal, 2002, 28, (4), 465-480
29. Aggregate and disaggregate measures of the foreign exchange risk premium
    International Review of Economics & Finance, 2002, 11, (1), 57-84 View citations
30. Modelling the Long-run Real Effective Exchange Rate of the New Zealand Dollar
    Australian Economic Papers, 2002, 41, (4), 519-537 View citations
    See also Working Paper (2001)

2001

31. The Instability of the Money Demand Function: An I(2) Interpretation
    Oxford Bulletin of Economics and Statistics, 2001, 63, (4), 475-95 View citations
32. The law of one price for transitional Ukraine
    Economics Letters, 2001, 73, (2), 251-256 View citations
33. The spot-forward relationship revisited: an ERM perspective
    Journal of International Financial Markets, Institutions and Money, 2001, 11, (1), 29-52 View citations

2000

34. 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
35. Expectations Formation and Risk in Three Financial Markets: Surveying What the Surveys Say
    Journal of Economic Surveys, 2000, 14, (1), 69-100 View citations
36. Is the foreign exchange market 'risky'? Some new survey-based results
    Journal of Multinational Financial Management, 2000, 10, (1), 1-14
37. Modeling the ECU against the U.S. Dollar: A Structural Monetary Interpretation
    Journal of Business & Economic Statistics, 2000, 18, (4), 436-50
38. Realignment expectations and the US dollar, 1890-1897: Was there a 'Peso problem'?
    Journal of Monetary Economics, 2000, 46, (3), 605-620 View citations
39. 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
    See also Working Paper (1999)

1999

40. 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
    See also Working Paper (1995)
41. Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions
    IMF Staff Papers, 1999, 46, (1), 5 View citations
    See also Working Paper (1998)
42. Exchange Rate Behaviour: Are Fundamentals Important?
    Economic Journal, 1999, 109, (459), F673-91 View citations
43. The Asian currency crash: were badly driven fundamentals to blame?
    Journal of Asian Economics, 1999, 10, (4), 537-550 View citations
44. 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

1998

45. 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
46. 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
    See also Working Paper (1997)
47. 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
48. 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

1997

49. Business Conditions and Speculative Assets
    The Manchester School of Economic & Social Studies, 1997, 65, (4), 379-93 View citations
50. 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
51. On Fundamentals And Exchange Rates: A Casselian Perspective
    The Review of Economics and Statistics, 1997, 79, (4), 655-664 View citations
52. Some tests of market microstructure hypotheses in the foreign exchange market
    Journal of Multinational Financial Management, 1997, 7, (3), 203-229 View citations

1996

53. Currency forecasters are heterogeneous: confirmation and consequences
    Journal of International Money and Finance, 1996, 15, (5), 665-685 View citations
54. Panel unit root tests and real exchange rates
    Economics Letters, 1996, 50, (1), 7-11 View citations

1995

55. Exchange rates, financial innovation and divisia money: the sterling/dollar rate 1972-1990
    Journal of International Money and Finance, 1995, 14, (4), 493-513
56. Stock prices, dividends and retention: Long-run relationships and short-run dynamics
    Journal of Empirical Finance, 1995, 2, (2), 135-151 View citations

1994

57. 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
58. On the Expectations View of the Term Structure, Term Premia and Survey-Based Expectations
    Economic Journal, 1994, 104, (426), 1070-86 View citations
59. Reexamining the Monetary Approach to the Exchange Rate: The Dollar-Franc, 1976-90
    Applied Financial Economics, 1994, 4, (6), 423-29
60. 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

1993

61. Long-Run Purchasing Power Parity: Is It for Real?
    The Review of Economics and Statistics, 1993, 75, (4), 690-95 View citations
62. On the Efficiency of Oil Price Forecasts
    Applied Financial Economics, 1993, 3, (4), 293-302 View citations
63. Persistence in UK Share Returns: Some Evidence from Disaggregated Data
    Applied Financial Economics, 1993, 3, (1), 27-38 View citations
64. Regional House Prices in Britain: Long-Run Relationships and Short-Run Dynamics
    Scottish Journal of Political Economy, 1993, 40, (1), 43-55 View citations
65. Stock prices, efficiency and cointegration: The case of the UK
    International Review of Economics & Finance, 1993, 2, (3), 251-265 View citations

1992

66. A stable US money demand function, 1874-1975
    Economics Letters, 1992, 39, (2), 191-198 View citations
67. Exchange Rate Survey Data: A Disaggregated G-7 Perspective
    The Manchester School of Economic & Social Studies, 1992, 60, 47-62 View citations
68. Some Tests of the Government's Intertemporal Budget Constraint Using U.S. Data
    Applied Economics, 1992, 24, (12), 1287-92 View citations

1991

69. Efficiency in the Forward Foreign Exchange Market: Weekly Tests of the Australian/U.S. Dollar Exchange Rate January 1984-March 1987
    The Economic Record, 1991, 67, (198), 237-42
70. Exchange Rates, Policy Convergence, and the European Monetary System
    The Review of Economics and Statistics, 1991, 73, (3), 553-58 View citations
    See also Working Paper (1990)
71. The Term Structure of Interest Rates under Rational Expectations: Some International Evidence
    Applied Financial Economics, 1991, 1, (4), 211-21 View citations
72. The monetary approach to the exchange rate: Long-run relationships and coefficient restrictions
    Economics Letters, 1991, 37, (2), 179-185 View citations

1990

73. Are Foreign Exchange Market Forecasters "Rational"? Some Survey-Based Tests
    The Manchester School of Economic & Social Studies, 1990, 58, (3), 229-41 View citations
74. Consumption, Cointegration and Rational Expectations: Some Australian Evidence
    Australian Economic Papers, 1990, 29, (54), 40-52
75. Expectations Formation and Risk in Four Foreign Exchange Markets
    Oxford Economic Papers, 1990, 42, (3), 544-61 View citations
76. 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
77. Savings and Rational Expectations: A Correction and Further Observations
    Economic Journal, 1990, 100, (403), 1277-79
78. The Intertemporal Government Budget Constraint in the U.K., 1961-1986
    The Manchester School of Economic & Social Studies, 1990, 58, (4), 329-47
79. The Term Structure of Forward Foreign Exchange Premia: The Inter-war Experience
    The Manchester School of Economic & Social Studies, 1990, 58, (1), 54-65

1989

80. Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K
    Economic Journal, 1989, 99, (394), 83-91
81. Does the Public Sector Obey the Rational Expectations-Permanent Income Hypothesis? A Multi-country Study of the Time Series Properties of Government Expenditures
    Applied Economics, 1989, 21, (9), 1257-66
82. Foreign exchange market efficiency and cointegration: Some evidence from the recent float
    Economics Letters, 1989, 29, (1), 63-68 View citations
83. Interest Rate Parity: Some New Evidence
    Bulletin of Economic Research, 1989, 41, (4), 255-74 View citations
84. Rational Expectations, Risk and Efficiency in the London Metal Exchange: An Empirical Analysis
    Applied Economics, 1989, 21, (2), 143-53 View citations
85. Testing for the Long Run Relationship between Nominal Interest Rates and Inflation Using Cointegration Techniques
    Applied Economics, 1989, 21, (4), 439-47 View citations
86. The Efficiency of the Market for Bank Accepted Bills
    The Economic Record, 1989, 65, (190), 225-33

1988

87. 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
88. Covered interest parity and UK monetary 'news'
    Economics Letters, 1988, 26, (1), 53-56
89. 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
90. Metals Prices, Efficiency and Cointegration: Some Evidence from the London Metal Exchange
    Bulletin of Economic Research, 1988, 40, (3), 235-39 View citations
91. Monetary Policy and the Real Interest Rate: Some U.K. Evidence
    Scottish Journal of Political Economy, 1988, 35, (4), 361-71
92. 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
93. Testing Rational Expectations and Efficiency in the London Metal Exchange
    Oxford Bulletin of Economics and Statistics, 1988, 50, (1), 41-52 View citations
94. The Term Structure of Interest Rates in the UK
    Bulletin of Economic Research, 1988, 40, (4), 287-99 View citations

1987

95. Consumer Expenditure, the Demand for Money, and the Hall Hypothesis
    Empirical Economics, 1987, 12, (1), 3-17
96. LM3 Surprises and Asset Prices
    Economica, 1987, 54, (216), 505-15
97. On the specification of granger-causality tests using the cointegration methodology
    Economics Letters, 1987, 25, (2), 149-153 View citations
98. The Singapore Dollar: Tests of the Efficient Markets Hypothesis and the Role of 'News.'
    Applied Economics, 1987, 19, (5), 569-79
99. The demand for international reserves in a regime of floating exchange rates: Some empirical evidence
    Economics Letters, 1987, 23, (2), 189-192
100. 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

1986

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

1985

104. 'News' and the 1920's experience with floating exchange rates
     Economics Letters, 1985, 17, (4), 379-383
105. Are deviations from purchasing power parity efficient? Some further answers
     Review of World Economics (Weltwirtschaftliches Archiv), 1985, 121, (4), 638-645
106. Buffer Stocks, Exchange Rates and Deviations from Purchasing Power Parity
     Empirical Economics, 1985, 10, (3), 163-75
107. Public Sector Borrowing, the Money Supply and Interest Rates
     Oxford Bulletin of Economics and Statistics, 1985, 47, (3), 249-73
108. 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

109. The Monetary Approach to the Exchange Rate Revisited
     Applied Economics, 1984, 16, (5), 771-82

1983

110. Some Tests of the Rational Expectations Hypothesis in the Foreign Exchange Market
     Scottish Journal of Political Economy, 1983, 30, (3), 235-50 View citations
111. 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