CAMA Publications


Behavioural Macroeconomics and Complexity program

• Cohen SN, Henckel T, Menzies GD, Muhle-Karbe J, Zizzo DJ, 2019, ‘Switching cost models as hypothesis tests’. Economics Letters (forthcoming). (CAMA WP 40/2018).
Henckel T, Menzies G, Moffatt P and Zizzo D, 2019, ‘Three Dimensions of Central Bank Credibility and Inferential Expectations: The Euro Zone’. Journal of Macroeconomics (forthcoming).
McDonald IM, 2019, ‘John Maynard Keynes, Joan Robinson and the prospect theory approach to money wage determination’, Metroeconomica, 70, 1, 45-67.

Climate Change and Energy program

• Best R, Burke P and Jotzo F, 2019, ‘Closures of coal‐fired power stations in Australia: Local unemployment effects’, Australian Journal of Agricultural and Resource Economics 62(1), 142–165.
Burke P, Liao H and Teng M, 2019, ‘The demand for coal among China’s rural households: Estimates of price and income elasticities’, Energy Economics 80, 928–936.
• Halog A, Indra M and Nepal R, 2019, ‘Renewable Energy Projections for Climate Change Mitigation: An Analysis of Uncertainty and Errors’, Renewable Energy, Vol. 130, pp. 536-546, 2019 (CAMA WP 74/2017).
Nepal R and Paija N, 2019, ‘A Multivariate Time Series Analysis of Energy Consumption, Real output and Pollutant Emissions in a Developing Economy: New Evidence from Nepal’, Economic Modelling,

Commodities and the Macroeconomy program

• Jarrett U, Mohaddes K and Mohtadi H, 2019, ‘Oil Price Volatility, Financial Institutions and Economic Growth’, Energy Policy 126, pp. 131–144.
Nguyen BH and Tatsuyoshi O, 2019, ‘Asymmetric Reactions of the U.S. Natural Gas Market and Economic Activity’. Energy Economics 80, 86-99.

Finance and the Macroeconomy program

• Abeln B, Jacobs JPAM and Ouwehand P, 2019, CAMPLET: ‘Seasonal adjustment without revisions’. Journal of Business Cycle Research (forthcoming).
• Anbarci N, Arin KP and Zenker C, 2019, ‘Tennis serve data may elude some as serves get too fast’, Econ Journal Watch, vol. 16(1), pages 124“-29-1, March.
Boschi M and d’Addona S, 2019, The stability of tax elasticities over the business cycle in European countries, Fiscal Studies, 10.1111/1475-5890.12184, (forthcoming).
• Bowden M, Nguyen J and Valadkhani A, 2019, ‘Pathways to reduce CO2 emissions as countries proceed through stages of economic development’, Energy Policy (forthcoming).
• Brooks R, Padungsaksawasdi C, Treepongkaruna S, 2019, ‘Investor attention and stock market activities: New evidence from Panel Data’, International Journal of Financial Studies, accepted 10 June 2019.
• Chiew D, Qiu J, Shi C, Treepongkaruna S and Yang J, 2019, ‘The predictive ability of the expected utility-entropy based fund rating approach: A comparison investigation with Morningstar ratings in US’, PLOS One, accepted 11 April 2019.
• Dungey M, Hurn S, Shi S and Volkov V, 2019, ‘Information flow in times of crisis: The case of the European banking and sovereign sectors’, Econometrics (Special Issue Celebrated Econometricians: Peter Phillips), 2019, 7(1), 5; doi:10.3390/econometrics7010005
• Goldewijk GMK, Jacobs JPAM, Jongman WM, 2019, ‘Health and Wealth in the Roman Empire’. Economics and Human Biology (forthcoming).
Greenwood-Nimmo MJ, Huang J and Nguyen VH, 2019, ‘Financial sector bailouts, sovereign bailouts, and the transfer of credit risk’, Journal of Financial Markets (forthcoming).
• Hajargasht G, Nguyen J and Valadkhani A, 2019, ‘Incorporating daily market uncertainty data into a conventional short-run dynamic model: The case of the black-market exchange rate in Iran’, Applied Economics (forthcoming).
• Hajargasht G, Rao DSP and Valadkhani A, 2019, ‘Reliability of basic heading PPPs’, Economics Letters (forthcoming).
• Hindrayanto I, Jacobs JPAM, Osborn DR and Tian J, 2019, ‘Trend-cycle-seasonal interactions: identification and estimation’. Macroeconomic Dynamics (forthcoming). doi: 10.1017/S1365100517001092.
• Hurn S, Phillips PCB, and Shi S, 2019, ‘Causal change detection in possibly integrated systems: Revisiting the money-income relationship’, Journal of Financial Econometrics (forthcoming).
• Hurn S, Phillips PCB, and Shi S, 2019, ‘Change detection and the causal impact of the yield curve’, Journal of Time Series Analysis, 2018, 39(6): 966-987. Online Supplement.
Jacobs JPAM, Haan L and Panjer N, 2019, Is fiscal policy in the euro area Ricardian? Empirica. doi/org/10.1007/s10663-019-09431-y.
• Jiraporn P, Jumreornvong S, Prommin P and Treepongkaruna S, 2019, ‘The effects of ownership concentration and corporate governance on corporate risk-taking: The case of Thailand’, Accounting Research Journal, accepted 22 April 2019.
• Kang W, Perez de Gracia F, Ratti RA, 2019, ‘The asymmetric response of gasoline prices to oil price shocks and policy uncertainty’, Energy Economics 77, 66-79.
• Kyaw K, Nygaard M F, Stensås A, Treepongkaruna S, 2019, ‘Can Bitcoin be a diversifier, hedge or safe haven tool?’, Cogent Economics & Finance, Accepted manuscript (8 March 2019), 1593072.
• Laurent S and Shi S, 2019, ‘Volatility estimation and jump detection for drift-diffusion processes’, Journal of Econometrics (fortcoming).
• Lim A, Lan Y and Treepongkaruna S, 2019, ‘Asset pricing and energy consumption risk’, Accounting and Finance, accepted 19 May 2019.
• Nguyen J, Smyth R and Valadkhani A, 2019, ‘Effects of primary energy consumption on CO2 emissions under optimal thresholds: Evidence from sixty countries over the last half century’, Energy Economics, 80, 680-690.
• O’Brien, Nguyen J and Valadkhani A, 2019, ‘Asymmetric responses of house prices to changes in the mortgage interest rate: Evidence from the Australian capital cities’, Applied Economics (forthcoming).
Okimoto T, 2019, ‘Trend Inflation and Monetary Policy Regimes in Japan’. Journal of International Money and Finance 92, 137-152.
Oldani C, 2019, ‘On the perils of structured loans financing in France and Italy’, Global Policy, vol. 10, ISSN: 1758-5899, doi: 10.1111/1758-5899.12686.
• Phillips PCB and Shi S, 2019, ‘Detecting financial collapse and ballooning sovereign risk’, Oxford Bulletin of Economics and Statistics (forthcoming).
Pontines V and Siregar RY, 2019, ‘Non-core liabilities and interest rate pass-through: bank-level evidence from Indonesia’, Applied Economics, Vol. 51, Issue No. 25 (CAMA WP 78/2017).
Ratti RA and Vespignani J, 2019, ‘What drives global Policy/official interest rate?’, Applied Economics 51, 5185-5190, 2019.
Ravazzolo F and Vespignani J, 2019, ‘World Steel Production: a new indicator of monthly real economic activity’, Canadian Journal of Economics (forthcoming).

Growth, Demographics and Productivity program

• Mayhew K and Wills S, ‘Inequality: an assessment’, Oxford Review of Economic Policy, Volume 35, Issue 3, Autumn 2019, Pages 351–367,
• McGregor T, Smith B, Wills S, ‘Measuring inequality, Oxford Review of Economic Policy’, Volume 35, Issue 3, Autumn 2019, Pages 368–395,

Macroeconomic Policy Frameworks program

• Debortoli D, Kim J, Lindé J and Nunes R, 2019, ‘Designing a Simple Loss Function for Central Banks: Does a Dual Mandate Make Sense?’, The Economic Journal, Volume 129, Issue 621, July 2019, Pages 2010–2038,
Eo Y and Lie D, 2019, ‘The Role of Inflation Target Adjustment in Stabilization Policy’, Journal of Money, Credit and Banking (forthcoming).
• Janku J, Libich J, ‘Ignorance isn’t bliss: Uninformed voters drive budget cycles.’ Journal of Public Economics (forthcoming). (CAMA WP 2/2018).
• Kawamura K, Kobashi Y, Shizume M and Ueda K, ‘Strategic Central Bank Communication: Discourse Analysis of the Bank of Japan’s Monthly Report,’ Journal of Economic Dynamics and Control, 100, 230-250, 2019.
Kim J and Ruge‐Murcia F, 2019, “Extreme events and optimal monetary policy’. International Economic Review, 60: 939-963. doi:10.1111/iere.12372.
Makin A, 2019, ‘Lessons for Macroeconomic Policy from the Global Financial Crisis’, Economic Analysis and Policy (forthcoming).
Makin A, Pearce J and Ratnasiri S, 2019, ‘The Optimal Size of Government in Australia’ (2018) Economic Analysis and Policy 62, 27-36.
• Oikawa K and Ueda K, ‘Short- and Long-Run Tradeoff of Monetary Easing’, Journal of the Japanese and International Economies, 52, 189-200, 2019.
Ueda K, Watanabe K, and Watanabe T, ‘Product turnover and the cost of living index: Quality vs. fashion effects’, American Economic Journal: Macroeconomics, 11(2), 310-347, 2019.

Model Uncertainty and Macro-Econometrics program

• Albonico A, Paccagnini A and Tirelli P, 2019, ‘Limited Asset Market Participation and the Euro Area Crisis. An Empirical DSGE Model, Economic Inquiry (forthcoming).
• Cardani R, Paccagnini A and Villa S, 2019, ‘Forecasting with instabilities: An application to DSGE models with financial frictions’, Journal of Macroeconomics (forthcoming).
• Garratt A, Vahey SP, Zhang Y, August 2018, ‘Real-time forecast combinations for the oil price’. Journal of Applied Econometrics, forthcoming (CAMA WP 38/2018).
• Mamertino M and Sinclair T, ‘Migration and online job search: A gravity model approach’, Economics Letters, Volume 181, August 2019, Pages 51-53.
• Masolo RM and Paccagnini A, ‘Identifying Noise Shocks: a VAR with Data Revisions’, Journal of Money, Credit and Banking (forthcoming).
Morley J and Wong B, 2019, ‘Estimating and accounting for the output gap with large Bayesian vector autoregressions’, Journal of Applied Econometrics, forthcoming (CAMA WP 46/2017).
Paccagnini A, 2019, Did financial factors matter during the Great Recession?, Economics Letters, Volume 174, January 2019, Pages 26-30.
Sinclair T, 2019, Characteristics and implications of Chinese macroeconomic data revisions on ‘Forecasting Issues in Developing Economies’ in the International Journal of Forecasting (forthcoming).

Multi-Country Models and Methods program

• Asano A and Tyers R, 2019, ‘Japan’s oligopolies: potential economy-wide gains from structural reforms’, Economic Modelling (forthcoming).
Fujiwara I, Kam T and Sunakawa T, 2019, ‘Sustainable international monetary policy cooperation’, Journal of Economic Dynamics and Control, Volume 106, 103721, ISSN 0165-1889,
Lee J-W and McKibbin WJ, 2019, ‘Korean unification: Economic adjustments under German assumptions’, Asian Economic Policy Review 14, 1-20.
• Neill K, Hartley P, Tyers R and Adams P, 2019, ‘Western Australia’s domestic gas reservation policy: modelling the economic impact with a CGE approach’, The Economic Record, DOI: 10.1111/1475-4932.12459 (forthcoming).

Open Economy Macroeconomics program

• Benedict C, Crucini MJ and Landry A, 2019, ‘On what states do prices depend? Answers from Ecuador (forthcoming) (CAMA WP 51 /2016).
Crucini MJ and Landry A, 2019, ‘Accounting for real exchange rates using micro-data’, Journal of International Money and Finance, March 2019, Vol. 91, 86-100.
Hoffmann M and Stewen I, ‘Holes in the dike: The global savings glut, U.S. house prices and the long shadow of banking deregulation„ Journal of the European Economic Association (forthcoming) (CAMA WP 06/2016).
Jacob P, Uuskula L, ‘Deep habits and exchange rate pass-through’, Journal of Economic Dynamics and Control (forthcoming) (CAMA WP 17/2016).
• Shibata A, Shintani M and Tsuruga T, 2019, ‘Current account dynamics under information rigidity and imperfect capital mobility’, Journal of International Money and Finance, Volume 92, April 2019, Pages 153-176.
Tsuruga T and Wake S, 2019, ‘Money-financed fiscal stimulus: The effects of implementation lag’, Journal of Economic Dynamics and Control, forthcoming

Book and book chapter

Commodities and the Macroeconomy program

Kamiar Mohaddes, Jeffrey B. Nugent, and Hoda Selim (eds.), Institutions and Macroeconomic Policies in Resource-Rich Arab Economies, Oxford University Press.
• El-Anshasy A, Mohaddes K, and Nugent JB, ‘Oil, Volatility and Institutions: Cross-Country Evidence from Major Oil Producers’ in Kamiar Mohaddes, Jeffrey B. Nugent, and Hoda Selim (eds.), Institutions and Macroeconomic Policies in Resource-Rich Arab Economies, Oxford University Press.
Mohaddes K, Nugent JB, and Selim S, ‘Objectives, Issues, and Findings’ in Kamiar Mohaddes, Jeffrey B. Nugent, and Hoda Selim (eds.), Institutions and Macroeconomic Policies in Resource-Rich Arab Economies, Oxford University Press.
Mohaddes K, Nugent JB, and Selim S, ‘Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals’in Kamiar Mohaddes, Jeffrey B. Nugent, and Hoda Selim (eds.), Institutions and Macroeconomic Policies in Resource-Rich Arab Economies, Oxford University Press.

Globalisation and Trade program

Akhtaruzzaman M, 2019, ‘International Capital Flows and the Lucas Paradox - Patterns, Determinants, and Debates’, Springer.

Updated:  21 September 2019/Responsible Officer:  Crawford Engagement/Page Contact:  CAMA admin