"First they ignore you, then they laugh at you, then they fight you, then you win." -Mahatma Gandhi

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RESEARCH

 

RESEARCH INTERESTS

Research interests: Empirical Finance and Asset Pricing Models, International Finance, Corporate Finance, Macroeconomics, Housing Economics, Monetary and Fiscal Policy, Emerging Market Economies, Macro-Econometrics and Quantitative Methods, Economic Modeling, Bayesian Model Averaging and Bayesian Econometrics, Energy Economics, Development and Growth, Political Economy, and Regional and Urban Economics.

 

ORCID: 0000-0002-8279-5753. [https://orcid.org/0000-0002-8279-5753?lang=en]

Google Scholar: Citations: 3426; h-index: 31; i10-index: 74. [http://scholar.google.com/citations?user=6kqFx8oAAAAJ]

Ideas Repec: Citations: 1227; h-index: 21; i10-index: 40. [http://ideas.repec.org/e/pso60.html]

                        (Ranked #8 among 'authors in Portugal', top 1%). [http://ideas.repec.org/top/top.portugal.html#authors]

                        (Ranked #429 among 'Top 10% authors (Last 10 Years Publications)'). [https://ideas.repec.org/top/top.person.all10.html]

Researcher ID: F-8013-2010; Citations: 1048; h-index: 20. [http://www.researcherid.com/rid/F-8013-2010]

Scopus: Citations: 1294; h-index: 22. [http://www.scopus.com/authid/detail.url?authorId=35270013700]

SSRN[http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=475556]

 

PhD

"Consumption, Housing and Financial Wealth, Asset Returns, and Monetary Policy", Thesis submitted to the Department of Economics of the London School of Economics and Political Science (LSE) for the degree of Doctor of Philosophy (PhD). 2008.

 

MASTER

"Stock Market, Wealth and Consumption", Thesis submitted to the Department of Economics of the University of Minho for the degree of Master (MPhil) of Economic Policy. 2002.

 

 

 

FORTHCOMING PUBLICATIONS

[3] “Linking U.S. state-level housing market returns and the consumption-(dis)aggregate wealth ratio”, International Review of Economics and Finance, forthcoming. (with M. Balcilar, R. Gupta and M.E. Wohar) [ISI JCR Impact Factor (2019): 1.818]

[2] “What can fifty-two collateralizable wealth measures tell us about future housing market returns? Evidence from U.S. state-level data”, Journal of Real Estate Finance and Economics, forthcoming. (with M. Balcilar, R. Gupta and M.E. Wohar) [ISI JCR Impact Factor (2019): 0.967]

[1] "On the duration of sovereign ratings cycle phases", Journal of Economic Behavior & Organization, forthcoming. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2019): 1.591]

 

 

 

SELECTED PUBLICATIONS

[64] "The housing cycle: What role for mortgage market development and housing finance?", Journal of Real Estate Finance and Economics, 2020, 61, 607-670. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2019): 0.967]

[63] “Unconventional monetary reaction functions: Evidence from the U.S.”, Studies in Nonlinear Dynamics and Econometrics, 2020, 24(4), 20180088. (with L. Agnello, V. Castro, F. Jawadi and G. Dufrénot) [ISI JCR Impact Factor (2019): 0.533]

[62] “Global factors, uncertainty, weather conditions and energy prices: On the drivers of the duration of commodity price cycles”, Energy Economics, 2020, 90, 104862. (with L. Agnello, V. Castro and S. Hammoudeh) [ISI JCR Impact Factor (2019): 5.203]

[61] “Consumption, asset wealth, equity premium, term spread and flight to quality”, European Financial Management, 2020, 26(3), 778-807. (with M. Costantini) [ISI JCR Impact Factor (2019): 1.470]

[60] “How does monetary policy respond to the dynamics of the shadow banking sector?”, International Journal of Finance and Economics, 2020, 25(2), 228-247. (with L. Agnello, V. Castro and F. Jawadi) [ISI JCR Impact Factor (2019): 0.943]

[59] “U.S. equity and commodity futures markets: hedging or financialization?”, Energy Economics, 2020, 86, 104660. (joint with D.K. Nguyen, A. Şensoy and G.S. Uddin) [ISI JCR Impact Factor (2019): 5.302]

[58] “A competing risks tale on successful and unsuccessful fiscal consolidations”, Journal of International Financial Markets, Institutions and Money, 2019, 63, 101148. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2018): 1.719]

[57] “Can the consumption-wealth ratio predict housing returns? Evidence from OECD countries”Real Estate Economics2019, 47(4), 935-956. (with G.M. Caporale and M.E. Wohar[ISI JCR Impact Factor (2018): 1.103]

[56] “Asset returns under model uncertainty: Evidence from the euro area, the U.K. and the U.S.”, Computational Economics2019, 54(1), 139-176. (with J. Sousa) [ISI JCR Impact Factor (2018): 1.038]

[55] "The legacy and the tyranny of time: Exit and re-entry of sovereigns to international capital markets"Journal of Money, Credit and Banking2018, 50(8), 1969-1994. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2017): 1.470]

[54] “Economic activity, credit market conditions and the housing market cycle”Macroeconomic Dynamics, 2018, 22(7), 1769-1789. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2017): 0.723]

[53] “Wealth-to-income ratio and stock market movements: Evidence from a nonparametric causality test”International Review of Finance2018, 18(3), 495-506. (with M. Balcilar, R. Gupta and M.E. Wohar) [ISI JCR Impact Factor (2017): 0.633]

[52] “Do IMF fiscal forecasts add value?”, Journal of Forecasting, 2018, 37, 650-665. (with Z. An, J.T. Jalles and P. Loungani) [ISI JCR Impact Factor (2017): 0.934]

[51] “The impact of fiscal consolidation on human development”, Journal of International Development2018, 30(3), 399-429. (with L. Agnello, V. Castro and J. Jalles[ISI JCR Impact Factor (2017): 0.863]

[50] “Financial markets' shutdown and re-access”, Economic Inquiry2018, 56(1), 562-571. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2017): 1.031]

[49] “A forensic perspective of the determinants of banks’ CDS spreads”Journal of Financial Stability2017, 33, 60-70. (with N. Benbouzid and S.K. Mallick) [ISI JCR Impact Factor (2016): 1.946]

[48] “Predicting risk premium under changes in the conditional distribution of stock returns”Journal of International Financial Markets, Institutions and Money2017, 50, 204-218. (with J. Sousa) [ISI JCR Impact Factor (2016): 1.379]

[47] “On the macroeconomic impact and the wealth effects of unconventional monetary policy”Macroeconomic Dynamics2017, 21(5), 1189-1204. (with F. Jawadi and R. Traverso[ISI JCR Impact Factor (2016): 0.718]

[46] “The skill premium effect of technological change: Evidence from the US manufacturing sector”International Labour Review2017, 155(1), 113-131. (with S.K. Mallick[ISI JCR Impact Factor (2016): 0.643]

[45] “Do country-level financial structures explain bank-level CDS spreads?”Journal of International Financial Markets, Institutions and Money2017, 48, 135-145. (with N. Benbouzid and S.K. Mallick[ISI JCR Impact Factor (2016): 1.379]

[44] “Income inequality, fiscal stimuli and political (in)stability”International Tax and Public Finance2017, 24(3), 484-511. (with L. Agnello, V. Castro and J. Jalles[ISI JCR Impact Factor (2016): 0.624]

[43] The predictability of cay and cayMS for stock and housing returns: A nonparametric causality in quantile test, International Review of Economics and Finance2017, 48, 269-279. (with M. Balcilar, R. Gupta and M.E. Wohar[ISI JCR Impact Factor (2016): 1.261]

[42] Spillovers from the oil market to the housing market cycleEnergy Economics2017, 61, 209-220. (with L. Agnello, L., V. Castro and S. Hammoudeh[ISI JCR Impact Factor (2016): 3.199]

[41] ”Fiscal and monetary policies in the BRICs: A Panel VAR approach”Economic Modelling2016, 58, 535-542. (with F. Jawadi and S.K. Mallick)  [ISI JCR Impact Factor (2015): 0.997]

[40] “National fiscal consolidations and regional inequality in Europe”Cambridge Journal of Regions, Economy and Society2016, 9(1), 59-80. (with L. Agnello and G. Fazio) [ISI JCR Impact Factor (2015): 2.111]

Media mentionsThe Economist, 2016, October 29th – November 4th, p.22.

[39] “Predicting asset returns in the BRICs: The role of macroeconomic and fundamental predictors", International Review of Economics and Finance2016, 41, 122-143. (with A. Vivian and M.E. Wohar[ISI JCR Impact Factor (2015): 1.704]

[38] ”Booms, busts and normal times in the housing market"Journal of Business& Economic Statistics2015, 33(1), 25-45(with L. Agnello and V. Castro) [ISI JCR Impact Factor (2014): 2.241]

[37] “US monetary policy and commodity sector prices"Journal of International Money and Finance2015, 57, 61-85. (with S. Hammoudeh and D.K. Nguyen) [ISI JCR Impact Factor (2014): 2.117]

[36] "Is fiscal fatigue a threat to consolidation programmes?"Environment & Planning C: Government & Policy2015, 33(4), 765-779. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2014): 1.535]

[35] “Can re-regulation of the financial sector strike back public debt?"Economic Modelling, 2015, 51, 159-171. (with L. Agnello[ISI JCR Impact Factor (2014): 0.827]

[34] ”An empirical analysis of energy cost pass-through to CO2 emission prices”Energy Economics2015, 49, 149-156. (with S. Hammoudeh, A. Lahiani and D.K. Nguyen) [ISI JCR Impact Factor (2014): 2.708]

[33] ”What determines the likelihood of structural reforms?"European Journal of Political Economy2015, 37, 129-145. (with L. Agnello, V. Castro and J. Jalles[ISI JCR Impact Factor (2014): 1.468]

[32] “Linking wealth and labour income with stock returns and government bond yields"European Journal of Finance2015, 21(10/11), 806-825. [ISI JCR Impact Factor (2014): 0.750]

[31] ”Fiscal consolidation and financial reforms”Applied Economics2015, 47(34-35), 3740-3755. (with L. Agnello, V. Castro and J. Jalles[ISI JCR Impact Factor (2014): 0.613]

[30] ”Consumption growth, preference for smoothing, changes in expectations and risk premium”Quarterly Review of Economics and Finance, 2015, 56, 80-97. (with M.J. Rocha Armada and M.E. Wohar)

[29] “What is the impact of wealth shocks on asset allocation?”Quantitative Finance2015, 15(3), 493-508. [ISI JCR Impact Factor (2014): 0.653]

[28] “Testing for asymmetric causality between U.S. equity returns and commodity futures returns” Finance Research Letters2015, 12, 38-47. (with D.K. Nguyen and G.S. Uddin) [ISI JCR Impact Factor (2014): 0.646] [Top 25 Hottest Articles]

[27] “Nonlinear effects of asset prices on fiscal policy: Evidence from the UK, Italy and Spain”Economic Modelling2015, 44, 358-362. (with L. Agnello and G. Dufrénot[ISI JCR Impact Factor (2014): 0.827]

[26] “How does fiscal consolidation impact on income inequality?”Review of Income and Wealth2014, 60(4), 702-726. (with L. Agnello) [ISI JCR Impact Factor (2013): 0.74]

[25] ”What explains the short-term dynamics of the prices of CO2 emissions?"Energy Economics2014, 46, 122-135. (with S. Hammoudeh and D.K. Nguyen) [ISI JCR Impact Factor (2013): 2.58]

[24] ”Fiscal adjustments, labour market flexibility and unemployment"Economics Letters2014, 124(2), 231-235. (with L. Agnello, V. Castro and J. Jalles[ISI JCR Impact Factor (2013): 0.457]

[23] "Energy prices and CO2 emission allowance prices: A quantile regression approach"Energy Policy2014, 70, 201-206. (with S. Hammoudeh and D.K. Nguyen) [ISI JCR Impact Factor (2013): 2.696]

[22] “Nonlinear monetary policy reaction functions in large emerging economies: The case of Brazil and China”Applied Economics2014, 46(9), 973-984. (with F. Jawadi and S.K. Mallick) [ISI JCR Impact Factor (2013): 0.518]

[21] “The effects of monetary policy in a small open economy: The case of Portugal”Applied Economics2014, 46(2), 240-251. [ISI JCR Impact Factor (2013): 0.518]

[20] ”Using time-varying transition probabilities in Markov switching processes to adjust US fiscal policy for asset prices”Economic Modelling2013, 34, 25-36. (with L. Agnello and G. Dufrénot[ISI JCR Impact Factor (2012): 0.557]

[19] “How best to measure discretionary fiscal policy? Assessing its impact on private spending”Economic Modelling2013, 34, 15-24. (with L. Agnello and D. Furceri) [ISI JCR Impact Factor (2012): 0.557]

[18] "Political, institutional and economic factors underlying deficit volatility"Review of International Economics2013, 21(4), 719-732(with L. Agnello) [ISI JCR Impact Factor (2012): 0.708]

[17] “What determines the duration of a fiscal consolidation program?”Journal of International Money and Finance2013, 37, 113-134(with L. Agnello and V. Castro) [ISI JCR Impact Factor (2012): 0.858]

[16] “The real effects of financial stress in the Eurozone”International Review of Financial Analysis2013, 30, 1-17. Lead article. (with S.K. Mallick)

[15] “Money demand in the euro area, the US and the UK: Assessing the role of nonlinearity"Economic Modelling201332(1), 507-515. (with F. Jawadi) [ISI JCR Impact Factor (2012): 0.557]

[14] “Real effects of monetary policy in large emerging economies”Macroeconomic Dynamics2012, 16(S2), 190-212. (with S.K. Mallick) [ISI JCR Impact Factor (2011): 0.452]

[13] “How does fiscal policy react to wealth composition and asset prices?”Journal of Macroeconomics2012, 34(3), 874-890. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2011): 0.496]

[12] “Financial reforms and income inequality“Economics Letters2012, 116(3), 583-587. (with L. Agnello and S.K. Mallick[ISI JCR Impact Factor (2011): 0.447]

[11] “Investment in emerging market economies“Empirical Economics2012, 43(1), 97-119. (with T. Peltonen and I. Vansteenkiste[ISI JCR Impact Factor (2011): 0.597]

[10] “Wealth effects in emerging market economies”International Review of Economics and Finance2012, 24(2), 155-166. (with T. Peltonen and I. Vansteenkiste[ISI JCR Impact Factor (2011): 0.927]

[9] “How do central banks react to wealth composition and asset prices?"Economic Modelling2012, 29(3), 641-653. (with V. Castro) [ISI JCR Impact Factor (2011): 0.701]

[8] “The macroeconomic effects of fiscal policy”Applied Economics2012, 44(34), 4439-4454. (with A. Afonso[ISI JCR Impact Factor (2011): 0.459] [Most read papers in 20154,583 views; 1,126 downloads]

[7] “Assessing long-term fiscal developments: a new approach”Journal of International Money and Finance2011, 30(1), 130-146. (with A. Afonso, L. Agnello and D. Furceri) [ISI JCR Impact Factor (2010): 0.836]

[6] What are the effects of fiscal policy on asset markets?Economic Modelling2011, 28(4), 1871-1890. (with A. Afonso[ISI JCR Impact Factor (2010): 0.601]

[5] “The impact of government spending on the private sector: crowding-out versus crowding-in effects”Kyklos2011, 64(4), 516-533. Lead article. (with D. Furceri[ISI JCR Impact Factor (2010): 1.127]

[4] “Fundamentals, financial factors and the dynamics of investment in emerging markets“Emerging Markets Finance and Trade2011, 47(03S2), 88-105. (with T. Peltonen and I. Vansteenkiste) [ISI JCR Impact Factor (2010): 0.444]

[3] “Building empirical proxies that capture time-variation in expected returns using a VAR approach”Applied Financial Economics2011, 21(3), 147-163.

[2] Consumption, (dis)aggregate wealth and asset returnsJournal of Empirical Finance2010, 17(4), 606-622. [ISI JCR Impact Factor (2010): 0.807]

[1] Housing wealth, financial wealth, money demand and policy rule: evidence from the euro area“North American Journal of Economics and Finance2010, 21(1), 88-105.

 

 

 

OTHER PUBLICATIONS

[37] "Os 20 anos do euro: O problema das lentes a “preto e zero”". Crítica Económica e Social, 2019, 20 (November-December), 19-24. (with R. Cabral).

Republished fromPúblico, 2019, October 23rd.

[36] “Systemic financial crises and the housing market cycle” Applied Economics Letters2018, 25(10), 724-729. (with L. Agnello and V. Castro) [ISI JCR Impact Factor (2017): 0.504]

[35] “How do fiscal consolidation and fiscal stimuli impact on the synchronization of business cycles?”Bulletin of Economic Research2017, 69(4), 309-329. (with L. Agnello and G.M. Caporale[ISI JCR Impact Factor (2016): 0.358]

[34] Assessing financial and housing wealth effects through the lens of a nonlinear framework“Research in International Business and Finance2017, 39(B), 840-850. (with F. Jawadi and R. Soparnot)

[33] “Financial stress and sovereign debt composition”Applied Economics Letters2016, 23(9), 678-683. (with L. Agnello, V. Castro and J. Jalles[ISI JCR Impact Factor (2015): 0.378]

[32] “Consumption, wealth, stock and housing returns: Evidence from emerging markets”Research in International Business and Finance2016, 36, 562-578. (with G.M. Caporale)

[31] ”Do debt crises boost financial reforms?"Applied Economics Letters2015, 22(5), 356-360. (with L. Agnello, V. Castro and J. Jalles[ISI JCR Impact Factor (2014): 0.303]

[30] ”Modelling the relationship between consumption and weatlh in the US, the UK and the euro area"Revue d'Economie Politique2014, 124(4), 639-652. (with F. Jawadi[ISI JCR Impact Factor (2013): 0.145]

[29] “Fiscal policy in the BRICs”Studies in Nonlinear Dynamics and Econometrics2014, 18(2), 201-215. (with F. Jawadi and S.K. Mallick) [ISI JCR Impact Factor (2013): 0.276]

[28] "The determinants of the volatility of fiscal policy discretion"Fiscal Studies2014, 35(1), 91-115. (with L. Agnello) [ISI JCR Impact Factor (2013): 0.319]

[27] "Windfall gains and labour supply: Evidence from the European Household Panel"IZA Journal of Labor Economics2014, 3(1), 1-27. (with U. Sila)

[26] “Wealth, asset portfolio, money demand and policy rule”Bulletin of Economic Research201466(1), 95-111. [ISI JCR (Impact Factor (2013): 0.333]

[25] “Commodity prices, inflationary pressures, and monetary policy: Evidence from BRICS economies”Open Economies Review2013, 24(4), 677-694. (with S.K. Mallick) [ISI JCR Impact Factor (2012): 0.404]

[24] “Modelling money demand: Further evidence from an international comparison”Applied Economics Letters2013, 20(11), 1052-1055. (with F. Jawadi[ISI JCR Impact Factor (2012): 0.295]

[23] Fiscal policy and asset prices"Bulletin of Economic Research2013, 65(2), 154-177. (with L. Agnello[ISI JCR Impact Factor (2012): 0.289]

[22] ”Discretionary government consumption, private domestic demand, and crisis episodes”Open Economies Review2013, 24(1), 79-100. (with L. Agnello and D. Furceri[ISI JCR Impact Factor (2012): 0.404]

[21] “Structural breaks and nonlinearity in US and UK public debt"Applied Economics Letters2013, 20(7), 653-657. (with F. Jawadi[ISI JCR Impact Factor (2012): 0.295]

[20] “Fiscal adjustments and income inequality: A first assessment”Applied Economics Letters2012, 19(16), 1627-1632. (with L. Agnello[ISI JCR Impact Factor (2011): 0.226]

[19] “How do banking crises impact on income inequality?”Applied Economics Letters2012, 19(15), 1425-1429. (with L. Agnello[ISI JCR Impact Factor (2011): 0.226]

[18] “Wealth-to-income ratio, government bond yields and financial stress in the Euro Area”Applied Economics Letters2012, 19(11), 1085-1088. [ISI JCR Impact Factor (2011): 0.226]

[17] “Wealth-to-income ratio and stock returns: Evidence from the Euro Area”Applied Economics Letters2012, 19(7), 619-622. [ISI JCR Impact Factor (2011): 0.226]

[16] “Time-varying expected returns: evidence from the U.S. and the U.K.”Applied Economics Letters2012, 19(5), 413-416. [ISI JCR Impact Factor (2011): 0.226]

[15] “Consumption, wealth, stock and government bond returns: international evidence”The Manchester School2011, 79(6), 1294-1332. (with A. Afonso[ISI JCR Impact Factor (2010): 0.333]

[14] “Fiscal regime shifts in Portugal“Portuguese Economic Journal2011, 10(2), 83-108. (with A. Afonso and P. Claeys[ISI JCR Impact Factor (2010): 0.25]

[13] “The macroeconomic effects of fiscal policy in Portugal: a Bayesian SVAR analysis”Portuguese Economic Journal2011, 10(1), 61-82. (with A. Afonso[ISI JCR Impact Factor (2010): 0.25]

[12] “Assessing long-term fiscal developments: evidence from Portugal”Applied Economics Letters2011, 18, 1-5. Lead article. (with A. Afonso[ISI JCR Impact Factor (2010): 0.245]

[11] “Can fiscal policy stimulus boost economic recovery?”Revue Économique2011, 62(6), 1045-1066. (with L. Agnello)

[10] “Does government spending crowd-out private consumption and investment? Theory and some empirical evidence”World Economics2011, 12(4), 153-170. (with D. Furceri)

[9] “The consumption-wealth ratio and asset returns: The Euro Area, the UK and the US”Journal of Money, Investment and Banking2010, 16, 12-28.

[8] “Wealth effects on consumption: evidence from the euro area”Banks and Bank Systems2010, 5(2), 78-87.

[7] “How do consumption and asset returns react to wealth shocks: evidence from the U.S. and the U.K.”The Empirical Economics Letters2010, 9(5), 515-522.

[6] Financial wealth, housing wealth, and consumptionInternational Research Journal of Finance and Economics2008, 19, 167-191.

[5] Some employment indicators of the North of PortugalEco Revista del Eje Atlântico2003, No. 147, August, A Coruña43.

[4] Demographical dynamics of the North of Portugal and Galiza: a comparative perspectiveEco Revista del Eje Atlântico2003, No. 142, March, A Coruña29.

[3] Economic performance indicators: a synthesisCadernos de Estudos Municipais2002, No. 13, June, University of Minho117-132. (with J. Cadima Ribeiro and D. Cabral)

[2] Profile of the low-wages worker and company in PortugalEconomia, 2000, Vol. XXIV, January-May-October, Portuguese Catholic University, Lisbon, 53-66. (with A.R. Cardoso, V. Castro and P. Ferreira)

[1] Municipal development dynamics in the Cávado's Valley - A reflection from some employment indicatorsCadernos de Estudos Municipais1999, No. 11-12, June-December, University of Minho243-253. (with D. Cabral)

 

 

 

BOOK CHAPTERS

[6] “How accurate are private sector fiscal forecasts? Evidence from the Great Recession”, In: Proceedings of the 21st Federal Forecasters Conference, Bureau of Labor Statistics, 4 September, 2015, Washington, D.C., U.S.A. (with Z. An, J.T. Jalles and P. Loungani)

[5] “The impact of income inequality and fiscal stimuli on political (in)stability”In: Beyond the austerity dispute: New priorities for fiscal policy, 17th Workshop on Public Finance organised by Banca d'Italia in Perugia from 9-11 April, 2015Banca d'Italia, Perugia, Italy(with L. Agnello, V. Castro and J.T. Jalles)

[4] “Fiscal policy and asset price cycles: Evidence from four European countries”In: Fiscal Policy and Macroeconomic Imbalances, 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4-6 April, 2013Banca d'Italia, Perugia, Italy(with L. Agnello and G. Dufrénot)

[3] “Can the wealth-to-income ratio be a useful predictor in Alternative Finance? Evidence from the housing risk premium”In: Barnett, W.A.; Jawadi, F. (Eds.), Recent Developments in Alternative Finance: Empirical Assessments and Economic Implications, International Symposia in Economic Theory and Econometrics2012, 22, 67-79, Emerald Group Publishing, Bingley, UK(with Manuel João Rocha Armada)

[2] Collateralizable wealth, asset returns and systemic risk: international evidence”, In: Barnett, W.A.; Jawadi, F. (Eds.), Nonlinear Modeling of Economic and Financial Time-SeriesInternational Symposia in Economic Theory and Econometrics2010, 20, 1-27, Emerald Group Publishing, London, UK. Lead Chapter.

[1] Wealth effects on consumption. In: Boskins, A.P. (Ed.), Consumer Economics: New ResearchNova Science Publishers, New York, 2008, 7-38. Lead article.

 

 

 

POLICY PAPERS

[20] "The benevolence of time, sound macroeconomic environment and governance quality on the duration of sovereign ratings phases"European Stability Mechanism, ESM Working Paper No. 34. [pdf]. 2019. (with L. Agnello and V. Castro)

[19] "Lessons from the last euro area capital flows boom-bust cycle", European Stability Mechanism, ESM Discussion Paper No. 3. In: ESM (Ed.), Cross-border capital flows and capital markets union: Quo vadis Europe? European Stability Mechanism (ESM): Luxembourg, 5-18. [pdf]. 2018. (with S. Armendariz and A. Gavilán)

[18] “External debt composition and domestic credit cycles”European Stability Mechanism, ESM Working Paper No. 28. [pdf]2018. (with S. Avdjiev and S. Binder)

[17] “Does exchange rate depreciation have contractionary effects on firm-level investment? The implications of alternative types of bond financing”, European Stability Mechanism, ESM Working Paper No. 26. [pdf] 2018. (with J.M. Serena)

[16] “Assessing fiscal policy stance through the lens of the financial and the commodity price cycles”Bank for International Settlements, BIS Working Paper No. 638. [pdf] 2017. (with E. Alberola-Ila)

[15] “External debt composition and domestic credit cycles”Bank for International Settlements, BIS Working Paper No. 627. [pdf] 2017. (with S. Avdjiev and S. Binder)

[14] “Repo market functioning”, Bank for International Settlements, CGFS Papers2017, 59, 1-65. [pdf] Report prepared by a Study Group established by the Committee on the Global Financial System (CGFS).

[13] “Does exchange rate depreciation have contractionary effects on firm-level investment? The implications of alternative types of bond financing”Bank for International Settlements, BIS Working Paper No. 624. [pdf] 2017. (with J.M. Serena)

[12] “Inflation expectations and monetary policy", In: Bank for International Settlements, Ed., Inflation mechanisms, expectations and monetary policyBank for International Settlements, BIS Papers2016, 89, 41-67. [pdf] (with J. Yetman)

[11] “Asset returns under model uncertainty: Evidence from the euro area, the U.K. and the U.S.”, European Central Bank, ECB Working Paper No. 1575. [pdf2013. (with J. Sousa)

[10] “How does fiscal consolidation impact on income inequality?”, Banque de France, Document de Travail No. 382. [pdf2011. (with L. Agnello)

Media mentionsThe Economist, Blog "Free Exchange", 2011, December 7th;

                                IMF Fiscal MonitorOctober 2012;

                                Calgary Real Estate, 2011, December 20th;

                                The Huffington Post, 2011, November 29th;

                                Prakash Loungani's Blog, 2011, November 29th;

                                PoliEcon’s Blog, 2011, November 30th.

[9] “Fiscal policy discretion, private spending and crisis episodes”, Banque de France, Document de Travail No. 354. [pdf2011. (with L. Agnello and D. Furceri)

[8] “Asset returns under model uncertainty: Evidence from the euro area, the U.K. and the U.S.”, Central Bank of Portugal, Economic and Research Department Working Paper No. 201119. [pdf] 2011. (with J. Sousa)

[7] “Can fiscal stimulus boost economic recovery?", Banque de France, Document de Travail No. 325. [pdf] 2011. (with L. Agnello)

[6] “Wealth effects on consumption: evidence from the euro area”. European Central Bank, ECB Working Paper No. 1050. [pdf] 2009.

Media mentionsThe Economist, Blog "Free Exchange", 2009, August 19th.

[5] The determinants of public deficit volatility“, European Central Bank, ECB Working Paper No. 1042. [pdf2009. (with L. Agnello)

[4] “Assessing long-term fiscal developments: a new approach”, European Central Bank, ECB Working Paper No. 1032. [pdf] 2009. (with A. Afonso, L. Agnello and D. Furceri)

[3] “Wealth effects in emerging market economies”. European Central Bank, ECB Working Paper No. 1000. [pdf] 2009(with T. Peltonen and I. Vansteenkiste)

[2] “The macroeconomic effects of fiscal policy”. European Central Bank, ECB Working Paper No. 991. [pdf] 2009. (with A. Afonso)

[1] “Fiscal policy, housing and stock prices”. European Central Bank, ECB Working Paper No. 990[pdf] 2009. (with A. Afonso)

 

 

 

WORKING PAPERS

[58] “Housing market returns and the consumption-(dis)aggregate wealth ratio: Evidence from U.S. state-level data”, University of Pretoria, Department of Economics, Working Paper No. 201942. [pdf] 2019(with M. Balcilar, R. Gupta and M.E. Wohar)

[57] “The predictability of cay and cayMS for stock and housing returns: A nonparametric causality in quantile test”, University of Pretoria, Department of Economics, Working Paper No. 201577. [pdf] 2015(with M. Balcilar, R. Gupta and M.E. Wohar)

[56] “Testing for asymmetric causality from U.S. equity returns to commodity futures returns", IPAG Business School, Working Paper No. 2014-545. [pdf] 2014. (with D.K. Nguyen and G.S. Uddin)

[55] “US monetary policy and commodity sector prices", IPAG Business School, Working Paper No. 2014-438. [pdf] 2014. (with S. Hammoudeh and D.K. Nguyen)

[54] “China's monetary policy and commodity prices", IPAG Business School, Working Paper No. 2014-298. [pdf] 2014. (with S. Hammoudeh and D.K. Nguyen)

[53] “Energy prices and CO2 emission allowance prices: A quantile regression approach", University of Minho, NIPE Working Paper No. 6/2014 [pdf]; IPAG Business School, Working Paper No. 2014-185. [pdf] 2014. (with S. Hammoudeh and D.K. Nguyen)

[52] Asymmetric and nonlinear pass-through of energy prices to CO2 emission allowance prices”, University of Minho, NIPE Working Paper No. 5/2014 [pdf]; IPAG Business School, Working Paper No. 2014-082 [pdf]2014. (with S. Hammoudeh, Amine Lahiani and D.K. Nguyen)

[51] “What explains the short-term dynamics of the prices of CO2 emissions?", University of Minho, NIPE Working Paper No. 4/2014 [pdf]; IPAG Business School, Working Paper No. 2014-081 [pdf]2014. (with S. Hammoudeh and D.K. Nguyen)

[50] “Fiscal adjustments and business cycle synchronization”, CESifo Working Paper No. 4505 [pdf]; DIW Berlin Working Paper No. 1339 [pdf]. 2013. (with L. Agnello and G.M. Caporale)

[49] “The effects of monetary policy in a small open economy: The case of Portugal”, University of Minho, NIPE Working Paper No. 27/2012. [pdf] 2012.

[48] “The skill premium of technological change: Evidence from the US manufacturing sector”, University of Minho, NIPE Working Paper No. 26/2012. [pdf] 2012. (with S.K. Mallick)

[47] “Structural breaks and nonlinearity in US and UK public debt”, University of Minho, NIPE Working Paper No. 25/2012. [pdf] 2012. (with F. Jawadi)

[46] “Consumption and wealth in the US, the UK and the euro area: A nonlinear investigation”, University of Minho, NIPE Working Paper No. 24/2012. [pdf] 2012. (with F. Jawadi)

[45] “Modelling money demand: Further evidence from an international comparison”, University of Minho, NIPE Working Paper No. 23/2012. [pdf] 2012. (with F. Jawadi)

[44] “Money demand in the euro area, the US and the UK: Assessing the role of nonlinearity”, University of Minho, NIPE Working Paper No. 22/2012. [pdf]  2012. (with F. Jawadi)

[43] “Financial reforms and income inequality”, University of Minho, NIPE Working Paper No. 21/2012. [pdf] 2012. (with L. Agnello and S.K. Mallick)

[42] “Adjusting the U.S. fiscal policy for asset prices: Evidence from a TVP-MS framework”, University of Minho, NIPE Working Paper No. 20/2012. [pdf] 2012. (with L. Agnello and G. Dufrénot)

[41] “Fiscal adjustments and income inequality: A first assessment”, University of Minho, NIPE Working Paper No. 19/2012. [pdf] 2012. (with L. Agnello)

[40] “Are there change-points in the likelihood of a fiscal consolidation ending?”, University of Minho, NIPE Working Paper No. 18/2012. [pdf2012. (with L. Agnello and V. Castro)

Media mentionsThe Telegraph, 2013, April 4th.

[39] “What determines the duration of a fiscal consolidation program?”, University of Minho, NIPE Working Paper No. 17/2012. [pdf] 2012. (with L. Agnello and V. Castro)

Media mentionsThe Telegraph, 2013, April 4th.

[38] “How does fiscal consolidation impact on income inequality?”, University of Minho, NIPE Working Paper No. 34/2011. [pdf2011. (with L. Agnello)

Media mentionsThe Economist, Blog "Free Exchange", 2011, December 7th;

                                IMF Fiscal MonitorOctober 2012;

                                Calgary Real Estate, 2011, December 20th;

                                The Huffington Post, 2011, November 29th;

                                Prakash Loungani's Blog, 2011, November 29th;

                                PoliEcon’s Blog, 2011, November 30th.

[37] “Are stock and housing returns complements or substitutes? Evidence from OECD countries”, CESifo Working Paper No. 3621 [pdf]; DIW Berlin Working Paper No. 1158 [pdf]; Brunel University, Economics and Finance Working Paper No. 11-15 [pdf]; University of Minho, NIPE Working Paper No. 33/2011. [pdf2011. (with G.M. Caporale)

[36] “Consumption, wealth, stock and housing returns: Evidence from emerging markets”, CESifo Working Paper No. 3601 [pdf]; DIW Berlin Working Paper No. 1159 [pdf];  Brunel University, Economics and Finance Working Paper No. 11-14 [pdf]; University of Minho, NIPE Working Paper No. 32/2011 [pdf]. 2011. (with G.M. Caporale)

[35] “Fiscal policy discretion, private spending and crisis episodes”, University of Minho, NIPE Working Paper No. 31/2011. [pdf] 2011. (with L. Agnello and D. Furceri)

[34] “How do banking crises impact on income inequality?”, University of Minho, NIPE Working Paper No. 30/2011. [pdf] 2011. (with L. Agnello)

Media mentionsEconomic Logician's Blog, 2011, December 14th;

                                PoliEcon’s Blog, 2011, November 30th.

[33] “How does fiscal policy react to wealth composition and asset prices?”, University of Minho, NIPE Working Paper No. 24/2011. [pdf] 2011. (with L. Agnello and V. Castro)

[32] “Wealth, labour income, stock returns and government bond yields, and financial stress in the Euro Area”, University of Minho, NIPE Working Paper No. 22/2011. [pdf] 2011.

[31] “Asset returns under model uncertainty: Evidence from the euro area, the U.K. and the U.S.”, University of Minho, NIPE Working Paper No. 21/2011. [pdf] 2011. (with J. Sousa)

[30] "Do windfall gains affect labour supply? Evidence from the European Household Panel", University of Minho, NIPE Working Paper No. 20/2011. [pdf] 2011. (with U. Sila)

[29] “Fiscal policy in the BRICs”, University of Minho, NIPE Working Paper No. 19/2011. [pdf2011. (with F. Jawadi and S.K. Mallick)

[28] “Monetary policy rules in the BRICS: How important is nonlinearity?”, University of Minho, NIPE Working Paper No. 18/2011. [pdf] 2011. (with F. Jawadi and S.K. Mallick)

[27] “The real effects of financial stress in the Eurozone”, University of Minho, NIPE Working Paper No. 12/2011. [pdf2011(with S.K. Mallick)

[26] “Consumption, wealth, stock and government bond returns: international evidence”, University of Minho, NIPE Working Paper No. 9/2011 [pdf]; ISEG-Technical University of Lisbon (UTL), Working Paper No. 9/2011/DE/UECE. [pdf] 2011. (with A. Afonso)

[25] Fiscal policy and asset prices", University of Minho, NIPE Working Paper No. 25/2010. [pdf] 2010(with L. Agnello)

[24] “How do central banks react to wealth composition and asset prices?", University of Minho, NIPE Working Paper No. 26/2010 [pdf]; University of Coimbra, GEMF Working Paper No. 19/2010 [pdf]. 2010. (with V. Castro)

[23] Collateralizable wealth, asset returns and systemic risk: international evidence”, University of Minho, NIPE Working Paper No. 15/2010. [pdf] 2010.

[22] “How do consumption and asset returns react to wealth shocks: evidence from the U.S. and the U.K.”, University of Minho, NIPE Working Paper No. 14/2010. [pdf] 2010.

[21] “Time-varying expected returns: evidence from the U.S. and the U.K.”, University of Minho, NIPE Working Paper No. 10/2010. [pdf] 2010.

[20] “The consumption-wealth ratio and asset returns: The Euro Area, the UK and the US”, University of Minho, NIPE Working Paper No. 9/2010. [pdf] 2010.

[19] “Monetary policy and economic activity in the BRICS”, University of Minho, NIPE Working Paper No. 27/2009. [pdf] 2009. (with S.K. Mallick)

[18] “What are the wealth effects of monetary policy?“,University of Minho, NIPE Working Paper No. 26/2009. [pdf] 2009.

[17] “Fiscal regime shifts in Portugal“, University of Minho, NIPE Working Paper No. 25/2009 [pdf]; University of Barcelona, Research Institute of Applied Economics, IREA Working Paper No. 200921 [pdf]; ISEG-Technical University of Lisbon (UTL), Working Paper No. 41/2009/DE/UECE [pdf]2009. (with A. Afonso and P. Claeys)

[16] “Fundamentals, financial factors and the dynamics of investment in emerging markets“, University of Minho, NIPE Working Paper No. 19/2009. [pdf] 2009. (with T. Peltonen and I. Vansteenkiste)

[15] “Asset prices, credit and investment in emerging markets“, University of Minho, NIPE Working Paper No. 18/2009. [pdf] 2009(with T. Peltonen and I. Vansteenkiste)

[14] “Wealth effects on consumption: evidence from the euro area”, University of Minho, NIPE Working Paper No. 12/2009. [pdf2009.

Media mentionsThe Economist, Blog "Free Exchange", 2009, August 19th.

[13] The determinants of public deficit volatility“, University of Minho, NIPE Working Paper No. 11/2009. [pdf] 2009. (with L. Agnello)

[12] “Assessing long-term fiscal developments: a new approach”, University of Minho, NIPE Working Paper No. 7/2009 [pdf]; ISEG-Technical University of Lisbon (UTL), Working Paper No. 19/2009/DE/UECE [pdf]2009. (with A. Afonso, L. Agnello and D. Furceri)

[11] “The impact of government spending on the private sector: crowding-out versus crowding-in effects”, University of Minho, NIPE Working Paper No. 6/2009. [pdf] 2009. (with D. Furceri)

Media mentionsCITY A.M., 2012, May 2nd, Editor's Letter;

                                The Economist, 2010, October 30th – November 5th, p. 76;

                                RTPN, 2010, November 6th.

[10] “Wealth effects in emerging market economies”, University of Minho, NIPE Working Paper No. 4/2009. [pdf] 2009(with T. Peltonen and I. Vansteenkiste)

[9] “The macroeconomic effects of fiscal policy in Portugal: a Bayesian SVAR analysis”, University of Minho, NIPE Working Paper No. 3/2009 [pdf]; ISEG-Technical University of Lisbon (UTL), Working Paper No. 9/2009/DE/UECE. [pdf] 2009. (with A. Afonso)

Media mentions: Público, 2010, December 27th.

[8] “Assessing long-term fiscal developments: evidence from Portugal”, University of Minho, NIPE Working Paper No. 1/2009 [pdf]; ISEG-Technical University of Lisbon (UTL), Working Paper No. 3/2009/DE/UECE [pdf]2009. (with A. Afonso)

[7] “The macroeconomic effects of fiscal policy”, University of Minho, NIPE Working Paper No. 22/2008 [pdf]; ISEG-Technical University of Lisbon (UTL), Working Paper No. 56/2008/DE/UECE. [pdf] 2009. (with A. Afonso)

[6] “Fiscal policy, housing and stock prices”, University of Minho, NIPE Working Paper No. 21/2008 [pdf]; ISEG-Technical University of Lisbon (UTL), Working Paper No. 58/2008/DE/UECE [pdf]. 2009. (with A. Afonso)

[5] “Expectations, shocks and asset returns”, University of Minho, NIPE Working Paper No. 29/2007. [pdf] 2007.

[4] “Wealth shocks and risk aversion”, University of Minho, NIPE Working Paper No. 28/2007. [pdf] 2010.

[3] “Consumption, (dis)aggregate wealth, and asset returns”, University of Minho, NIPE Working Paper No. 9/2005. [pdf2005.

[2] Property of stocks and wealth effects on consumption., University of Minho, NIPE Working Paper No. 2/2003. [pdf] 2003.

[1] Location, specialization, diversification indicators, and shift-share analysis: an application to the NUTIII of North Region in the period 1986-1998“, University of Minho, NIPE Working Paper No. 13/2001. [pdf] 2001. (with D. Cabral) 

 

 

 

CONFERENCES

[61]  7th UECE Conference on Economic and Financial Adjustments, ISEG/UL – School of Economics and Management / University of Lisbon, Lisbon (Portugal), 13 September 2019.

[60] 50th Anniversary Conference of the Money, Macro & Finance (MMF) Group, London School of Economics and Political Science (LSE), London (UK), 4-6 September 2019.

[59] 26th International Conference on "Forecasting Financial Markets", Ca’ Foscari University, Venice (Italy), 19-21 June 2019.

[58] Eighteenth Annual Conference of the European Economics and Finance Society (EEFS), University of Genoa, Genoa (Italy), 13-16 June 2019.

[57] Fourth International Workshop on “Financial Markets and Nonlinear Dynamics” (FMND), Paris (France), 31 May-1 June 2019.

[56] Fifth International Symposium in Computational Economics and Finance (ISCEF), Paris (France), 12-14 April 2018.

[55] XII Annual Seminar on Risk, Financial Stability and Banking, Central Bank of Brazil, São Paulo (Brazil), 9-11 August 2017.

[54] Fourth Annual Conference of the Society for Economic Measurement, MIT, Samberg Center, Boston (USA), 26-28 July 2017.

[53] Sixteenth Annual Conference of the European Economics and Finance Society (EEFS), University of Ljubljana, Ljubljana (Slovenia), 22-25 June 2017.

[52] Third International Workshop on "Financial Markets and Nonlinear Dynamics" (FMND), ESSCA Paris Campus, Paris (France), 1-2 June 2017.

[51] Energy and Commodity Finance Conference, ESSEC Business School, Paris (France), 23-24 June 2016.

[50] Fourth International Symposium in Computational Economics and Finance (ISCEF), Paris (France), 10-12 April 2016.

[49] Second Annual Conference of the Society for Economic Measurement, OECD, Paris (France), 22-24 July 2015.

[48] Second International Workshop on "Financial Markets and Nonlinear Dynamics" (FMND), ESSCA Paris Campus, Paris (France), 4-5 June 2015.

[47] Annual Meetings of the Latin American and Caribbean Economic Association (LACEA) and the Latin American Econometric Society (LAMES), School of Economics, Business and Accounting at the University of São Paulo (FEA-USP), São Paulo (Brazil), 20-22 November 2014.

[46] Annual Meeting of the Association of Southern European Economic Theorists (ASSET), Aix-Marseille School of Economics, Aix-en-Provence (France), 6-8 November 2014.

[45] Annual Conference of the Society for Economic Measurement, University of Chicago’s Booth School of Business, Chicago (USA), 18-20 August 2014.

[44] 14th Finance Meeting of the Brazilian Finance Association, Federal University of Pernambuco, Recife (Brazil), 24-26 July 2014. Award of the Brazilian Financial Markets Association (ANBIMA). Category: Scientific Papers [ranked 1st].

[43] 10th BMRC-DEMS Conference on Macro and Financial Economics/Econometrics, Brunel University, London (UK), 28-30 May 2014.

[42] Frontiers of Finance 2014, University of Warwick, Warwick Business School, Coventry (UK), 24-25 April 2014.

[41] Third International Symposium in Computational Economics and Finance (ISCEF), Paris (France), 10-12 April 2014.

[40] Global Finance Conference, American University of Sharjah, Dubai (United Arab Emirates), 31 March - 2 April 2014. Best Paper Award in Investments, Financial Markets and Valuation.

[39] Europlace Institute of Finance Morning Conference, Europlace Institute of Finance, Paris (France), 12 February 2014.

[38] 1st Paris Financial Management Conference, IPAG Business School, Paris (France), 15-17 December 2013.

[37] 13th Finance Meeting of the Brazilian Finance Association, Pontific Catholic University, Rio de Janeiro (Brazil), 18-20 July 2013.

[36] 2013 Annual Meeting of the European Financial Management Association, Reading (UK), 26-29 June 2013.

[35] Global Political Economy Network (GPEN)-Centre for Globalization Research (CGR), Queen Mary University of London, London (UK), 24-25 June 2013.

[34] XXXVI Encontro da Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD), Fundação Getúlio Vargas, Rio de Janeiro (Brasil), 22-25 September 2012. Keynote Speaker.

[33] 7th Portuguese Finance Network, University of Aveiro, Aveiro (Portugal), 5-7 July 2012.

[32] 6th Portuguese Economic Journal Conference, Porto (Portugal), 5-7 July 2012.

[31] UECE Conference on Economic and Financial Adjustments in Europe, Lisbon (Portugal), 29 June 2012.

[30] Second International Symposium in Computational Economics and Finance, Tunis (Tunisia), 15-17 March 2012.

[29] 38th Eastern Economic Association Annual Conference, Boston (USA), 9-11 March 2012.

[28] 2011 Annual Meeting of the European Financial Management Association, Braga (Portugal), 22-25 June 2011.

[27] 15th International Conference on Macroeconomic Analysis and International Finance, Rethymno (Greece), 26-28 May 2011.

[26] 2011 Annual Meeting of the European Public Choice Society, Rennes (France), 28 April-1 May 2011.

[25] 37th Eastern Economic Association Annual Conference, Ramapo College of New Jersey, New York (USA), 25-27 February 2011.

[24] 23rd Australasian Finance and Banking Conference, The University of New South Wales, Sydney (Australia), 15-17 December 2010.

[23] Second Emerging Scholars in Banking and Finance Conference, Cass Business School, City University of London, London (UK), 9 December 2010.

[22] Conference on "New Challenges for Public Debt in Advanced Economies", Banque de France and Bureau d'Economie Théorique et Appliquée (BETA) of the University of Strasbourg, Strasbourg (France), 16-17 September 2010.

[21] 25th Meeting of the European Economic Association, Glasgow (Scotland), 23-26 August 2010.

[20] EuroConference 2010 of the Society for the Study of Emerging Markets, Milas (Turkey), 16-18  July 2010.

[19] International Conference on Economic Modeling – EcoMod 2010, Istanbul (Turkey), 7-10 July 2010.

[18] 6th Portuguese Finance Network, Ponta Delgada (Portugal), 1-3 July 2010.

[17] 4th Portuguese Economic Journal Conference, Faro (Portugal), 25-26 June 2010.

[16] Third Annual Brunel University PhD Conference in Economics and Finance, Brunel University, London (UK), 11 June 2010.

[15] First World Finance Conference, Viana do Castelo (Portugal), 26-28 May 2010.

[14] 2010 Annual Meeting of the European Public Choice Society, Izmir (Turkey), 8-11 April 2010.

[13] 36th Annual Meeting of the Eastern Economic Association, Philadelphia (USA), 26-28 February 2010.

[12] First International Symposium in Computational Economics and Finance, Sousse (Tunisia), 25-27 February 2010.

[11] XVIII International “Tor Vergata” Banking and Finance Conference, University of Rome “Tor Vergata”, Rome (Italy), 2-4 December 2009.

[10] Center for International Capital Markets (CICM) Conference 2009, "20 Years of Transition in Central and Eastern Europe: Money, Banking and Financial Markets", London Metropolitan Business School, London (UK), 17-18 September 2009.

[9] The Money Macro and Finance Research Group 41st Annual Conference, Bradford University School of Management, Bradford (UK), 7-9 September 2009.

[8] 24th Annual Congress of the European Economic Association (EEA) & 64th European Meeting of the Econometric Society (ESEM), Barcelona Graduate School of Economics, Barcelona (Spain), 23-27 August 2009.

[7] 7th INFINITI Conference on International Finance, Trinity College, The University of Dublin, Dublin (Ireland), 8-9 June 2009.

[6] 13th International Conference on Macroeconomic Analysis and International Finance, Rethymno (Greece), 28-30 May 2009.

[5] International Conference "10 Years of the Euro: Adjustment in Capital and Labour Markets", Economic Policies Research Unit (NIPE), University of Minho, Braga (Portugal), 7-8 May 2009.

[4] Royal Economic Society (RES) 2009 Annual Conference, Surrey (UK), 20-22 April 2009.

[3] XVI International “Tor Vergata” Banking and Finance Conference, University of Rome “Tor Vergata”, Rome (Italy), 5-7 December 2007. Young Economist – BEST PAPER award.

[2] 12th International Conference in “Computing in Economics and Finance”, Society for Computational Economics, Limassol (Cyprus), 22-24 June 2006.

[1] IV Meeting of Portuguese Language’ Economists, Évora (Portugal), 2-4 October 2001.

 

 

 

SEMINARS / WORKSHOPS

[56] University of Minho, Braga (Portugal), 19 February 2020.

[55] University of Minho, Braga (Portugal), 20 September 2019.

[54] Bank of Italy, Rome (Italy), 10 April 2019.

[53] National Bank of Belgium, Brussels (Belgium), 3 April 2019.

[52] Lille University, Lille (France), 5 February 2019.

[51] Queen Mary University of London, London (UK), 16 January 2019.

[50] Birmingham University, Birmingham (UK), 6 November 2018.

[49] Loughborough University, Loughborough (UK), 24 October 2018.

[48] University of Minho, Braga (Portugal), 20 July 2018.

[47] Newcastle University, Newcastle upon Tyne (UK), 15 May 2018.

[46] Bank of England, London (UK), 4 May 2018.

[45] European Central Bank, Frankfurt (Germany), 24 April 2018.

[44] King's College London, London (UK), 25 October 2017.

[43] Loughborough University, Loughborough (UK), 16 June 2017.

[42] Bank for International Settlements (BIS), Basel (Switzerland), 16 November 2016.

[41] Banque de France, Paris (France), 8 July 2016.

[40] Bank for International Settlements (BIS), Basel (Switzerland), 28 June 2016.

[39] Bank for International Settlements (BIS), Basel (Switzerland), 28 April 2016.

[38] Bank for International Settlements (BIS), Basel (Switzerland), 21 April 2016.

[37] Bank for International Settlements (BIS), Basel (Switzerland), 30 March 2016.

[36] Bank for International Settlements (BIS), Basel (Switzerland), 23 February 2016.

[35] European Central Bank, Frankfurt (Germany), 19 June 2015.

[34] SOAS University of London, London (UK), 19 March 2015.

[33] Brunel University, London (UK), 12 December 2014.

[32] ESCB Workshop on House Price Modeling for Forecasting and Valuations, European Central Bank (ECB), Frankfurt (Germany), 28 November 2014.

[31] CEGE/NIPE Research Workshop, Catholic University, Porto (Portugal), 19 September 2014.

[30] PhD program in Economics, University of Minho, Braga (Portugal), 18 September 2014.

[29] NIPE Seminar Series, University of Minho, Braga (Portugal), 17 September 2014.

[28] IPAG Business School, Paris (France), 10 April 2014.

[27] Ca' Foscari University of Venice, Venice (Italy), 12 March 2014.

[26] ISEG-Technical University of Lisbon, Lisbon (Portugal), 22 October 2012.

[25] European Investment Bank, Luxembourg (Luxembourg), 26 July 2012.

[24] MFAD Induction, Bank of England, London (UK), 31 May 2012.

[23] MFAD Divisional Meeting, Bank of England, London (UK), 14 December 2011.

[22] Workshop "International Political Economy and Cross-Border Effects", Goodenough College, London (UK), 28 April 2011.

[21] European Central Bank (ECB), Fiscal Policies Division (FIP), Frankfurt (Germany), 18 March 2011.

[20] City University of London, London (UK), 10 March 2011.

[19] University of Birmingham, Birmingham (UK), 18 February 2011.

[18] Brunel University, London (UK), 17 February 2011.

[17] Bank of England, London (UK), 10 January 2011.

[16] University of Southampton, Southampton (UK), 1 December 2009.

[15] NIPE Seminar Series, University of Minho, Braga (Portugal), 25 November 2009.

[14] "Internal mini-workshop on fiscal and financial issues", European Central Bank (ECB), Fiscal Policies Division (FIP), Frankfurt (Germany), 11 May 2009.

[13] "Economic Meeting", European Central Bank (ECB), International Policy Analysis Division (IPA), Frankfurt (Germany), 21 April 2009.

[12] NIPE Seminar Series, University of Minho, Braga (Portugal), 9 January 2009.

[11] NCB Expert Meeting on “Money demand”, European Central Bank (ECB), Frankfurt (Germany), 14 November 2008.

[10] NCB Expert Meeting on “Cross-checking based on financial flows”, European Central Bank (ECB), Frankfurt (Germany), 20 October 2008.

[9] European Central Bank (ECB), International Policy Analysis Division (IPA), Frankfurt (Germany), 14 October 2008.

[8] European Central Bank (ECB), Monetary Policy Stance Division (MSN), Frankfurt (Germany), 13 October 2008.

[7] University of Surrey, Guildford (UK), 31 July 2008.

[6] European Central Bank (ECB), Fiscal Policies Division (FIP), Frankfurt (Germany), 8 July 2008.

[5] University of Minho, Braga (Portugal), 27 September 2007.

[4] London School of Economics and Political Science, London (UK), 23 April 2007.

[3] London School of Economics and Political Science, London (UK), 28 November 2005.

[2] University of Minho, Braga (Portugal), 9 April 2003.

[1] University of Coimbra, Coimbra (Portugal), 26 March 2003. 

 

 

 

RESEARCH GRANTS

[5] 2012 Europlace Institute of Finance (EIF) Grant (€10,000.00) (September 2012).

[4] Calouste Gulbenkian Foundation Grant (€1,040.00) (February 2011).

[3] Economic & Social Research Council (ESRC) Grant – RES-165-25-0024 (£254,415.37), (with N. Kiyotaki (Princeton University), C. Julliard (LSE) and A. Michaelides (LSE)): Home Ownership, Housing Collateral and Aggregate Fluctuations (September 2006 - August 2009).

[2] Calouste Gulbenkian Foundation Grant (€740.00) (August 2009).

[1] Portuguese Foundation for Science and Technology (FCT) Grant – POCI/EGE/58641/2004 (€36,910.00), (with F. Alexandre (University of Minho), P. Bação (University of Coimbra), J. Driffill (Birkbeck College, University of London) and V. Gabriel (University of Surrey)): Monetary Policy and Wealth Effect on Consumption (August 2005 – July 2008).

 

 

 

REFEREEING ACTIVITY

African Finance Journal; Annals of Operations Research; Applied Economics; British Journal of Management; Bulletin of Economic Research; Computational Economics; Contemporary Economic Policy; Economic Inquiry; Economic Modelling; Economic Journal; Economica; Economics Bulletin; Economic Systems; Empirical Economics; Energy Economics; Energy Journal; Environment & Planning C: Government and Policy; European Financial Management; European Journal of Political Economy; International Journal of Finance and Economics; International Review of Economics and Finance; International Review of Financial Analysis; International Symposia in Economic Theory and Econometrics; Journal of Banking and Finance; Journal of Economic Behavior & Organization; Journal of Economic Growth; Journal of Economic Inequality; Journal of Economic Studies; Journal of Empirical Finance; Journal of Financial Markets; Journal of Forecasting; Journal of Health Economics; Journal of International Financial Markets, Institutions & Money; Journal of International Money and Finance; Journal of Labor Research; Journal of Macroeconomics; Journal of Money, Credit and Banking; Macroeconomic Dynamics; Open Economies Review; Oxford Bulletin of Economics and Statistics; Portuguese Economic Journal; Public Choice; Public Finance Review; Quarterly Review of Economics and Finance; Review of Development Economics; Review of Income and Wealth; Review of International Economics; Scottish Journal of Political Economy; Southern Economic Journal; Studies in Nonlinear Dynamics & Econometrics; Swiss Journal of Economics and Statistics; The B. E. Journal of Macroeconomics; The Manchester School.

 

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