Universidade do Minho
Ricardo M. Sousa
London School of Economics and Political Science
Campus of Gualtar
4710-057 - Braga - Portugal
Office: EEG - 2.11
Phone: +351 253 601935
Fax: +351 253 676375
I am an Associate Professor with Habilitation at the Department of Economics, a Researcher at the Economic Policies Research Unit (NIPE) of the University of Minho, and an Associate Editor of the Economic Modelling. Previously, I worked as a Senior Economist at the Bank for International Settlements (BIS) and the European Stability Mechanism (ESM), as an Economist at the Bank of England (BoE) and the European Central Bank (ECB), and held visiting positions at the Bank of Portugal and the International Monetary Fund (IMF). I also taught at the London School of Economics and Political Science (LSE) and the Queen Mary University of London.
I hold a PhD in Economics from the London School of Economics and Political Science and I am a member of the LSE Alumni Association. At the LSE, I studied under the supervision of Alexander Michaelides (Department of Economics) and Christian Julliard (Department of Finance) and was affiliated at the Financial Markets Group (FMG). I also hold a MPhil in Economic Policy and a BSc in Economics from the University of Minho.
My main research interests are: Macroeconomics, Monetary and Fiscal Policy, Empirical Finance and Asset Pricing Models, International Finance, Corporate Finance, Housing Economics, 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.
I have published in international peer-reviewed journals, such as Cambridge Journal of Regions, Economy and Society, Computational Economics, Economic Inquiry, Energy Economics, Energy Policy, European Journal of Political Economy, International Review of Economics and Finance, Journal of Business and Economic Statistics, Journal of Empirical Finance, Journal of Financial Stability, Journal of International Financial Markets, Institutions and Money, Journal of International Money and Finance, Journal of Macroeconomics, Journal of Money, Credit and Banking, Macroeconomic Dynamics, Real Estate Economics, and Review of International Economics.
My research has been covered in the media, including The Economist, The Telegraph, City A.M., Le Monde, Jornal de Negócios, Público, CNN Portugal, ECO and RTPN.
Selected Recent Publications:
Recent Working Papers:
· 7th International Workshop on "Financial Markets and Nonlinear Dynamics" (FMND), Paris (France), 1-2 June 2023.
· University of Lille, Lille (France), 27 February 2023. [online]
· American Economic Association (ASSA) Annual Meeting, 7-9 January 2022. [online]
· Coventry University, Coventry (UK), 17 November 2021. [online]
· EcoMod2021 - International Conference on Economic Modeling and Data Science, ECOMOD Network and Center for European Studies (CefES), 7-9 July 2021. [online]
· Nineteenth Annual Conference of the European Economics and Finance Society (EEFS), City University of London and FernUniversität Hagen, 23-25 June 2021. [online]
· 5th International Workshop on "Financial Markets and Nonlinear Dynamics" (FMND), Paris (France), 3-4 June 2021. [online]
· 37th International Conference of the French Finance Association (AFFI), Nantes (France), 26-28 May 2021. [online]
· University of Minho, Braga (Portugal), 20 September 2019.
· 7th UECE Conference on Economic and Financial Adjustments, ISEG/UL – School of Economics and Management / University of Lisbon, Lisbon (Portugal), 13 September 2019.
· 50th Anniversary Conference of the Money, Macro & Finance (MMF) Group, London School of Economics and Political Science (LSE), London (UK), 4-6 September 2019.
· 26th International Conference on "Forecasting Financial Markets", Ca’ Foscari University, Venice (Italy), 19-21 June 2019.
· Eighteenth Annual Conference of the European Economics and Finance Society (EEFS), University of Genoa, Genoa (Italy), 13-16 June 2019.
· Fourth International Workshop on “Financial Markets and Nonlinear Dynamics” (FMND), Paris (France), 31 May-1 June 2019.
· Bank of Italy, Rome (Italy), 10 April 2019.
· National Bank of Belgium, Brussels (Belgium), 3 April 2019.
· University of Lille, Lille (France), 5 February 2019.
· Queen Mary University of London, London (UK), 16 January 2019.
· Birmingham University, Birmingham (UK), 6 November 2018.
· Loughborough University, Loughborough (UK), 24 October 2018.
· University of Minho, Braga (Portugal), 20 July 2018.
· Newcastle University, Newcastle upon Tyne (UK), 15 May 2018.
· Bank of England, London (UK), 4 May 2018.
· European Central Bank, Frankfurt (Germany), 24 April 2018.
· Fifth International Symposium in Computational Economics and Finance (ISCEF), Paris (France), 12-14 April 2018.
· King’s College London, London (UK), 25 October 2017.
Selected Media Coverage:
· “BCE abranda o ritmo com juros a caminho de máximos de 22 anos”, ECO, 04/05/2023.
· "Romance entre governos e BCE a caminho do divórcio", ECO, 16/01/2023.
· "Mais uma subida jumbo nos juros do BCE. Será a última?", ECO, 27/10/2022.
· "BCE dá tiro de partida para subidas consecutivas de juros", ECO, 09/06/2022.
· "Um a um, governadores do BCE vão encostando Lagarde à parede", ECO, 12/02/2022.
· “Inflação: uma análise ao indicador que pode mudar a vida de muita gente”, CNN Portugal, 06/02/2022.
· “Juros olham para Frankfurt e viram a cara a São Bento”, Jornal de Negócios, 28/10/2021.
· "Portugal pode “esfregar as mãos” com uma postura mais gastadora do BCE", Jornal de Negócios, 22/07/2021.
· "Revisão do BCE posta à prova com divisão por trás da cortina", Jornal de Negócios, 22/07/2021.
· "BCE volta a mandar os juros de dívida da Zona Euro para baixo", Jornal de Negócios, 21/07/2021.
· “Revolução das moedas digitais põe bancos centrais no “olho do furacão””, Jornal de Negócios, 24/05/2021.
· “Será o BCE capaz de largar a mão sem provocar outra crise?”, Jornal de Negócios, 11/03/2021.
· “O ano em que o BCE aprendeu com o passado”, Jornal de Negócios, 11/03/2021.
· “Nem todo o BCE gosta de ouvir Daft Punk”, Jornal de Negócios, 11/03/2021.
· "Dépendante du tourisme, l'économie portugaise ébranlée par la pandémie de Covid-19", Le Monde, 23/01/2021.
· “Lagarde tem presente no sapatinho para mercados”, Jornal de Negócios, 10/12/2020.
· “Bazuca monetária levou juros de Portugal para abaixo de 0%”, Jornal de Negócios, 10/12/2020.
· “BCE sem união para seguir Fed, para já”, Jornal de Negócios, 10/09/2020.
· “Fed olha por Main Street, mas premeia Wall Street”, Jornal de Negócios, 01/09/2020.
· “A velha luta da Fed pela inflação, com nova linguagem”, Jornal de Negócios, 01/09/2020.
· “Ricardo Sousa sobre o BCE: “O ‘helicopter money’ seria uma boa solução””, Jornal de Negócios, 04/06/2020.
· “A resposta europeia à pandemia: um “castelo de cartas”?”, Público, 11/04/2020.
· “Suspensão das bolsas: solução efetiva ou o adiar do problema?”, Jornal de Negócios, 18/03/2020.
· “Índices europeus cabem na cova de um dente do S&P 500”, Jornal de Negócios, 09/03/2020.
· “Os 20 anos do euro: o problema das lentes a “preto e zero””, Público, 23/10/2019.
· “Les limites du miracle portugais”, Le Monde, 03/10/2019.
· “The gap between poor and rich regions in Europe is widening: Austerity is partly to blame”, The Economist, 2016, October 29th – November 4th, p.22.
· “To revive the economy, cut spending”, The Telegraph, 204/04/2013.
· “Increasing income inequality: Side-effect of fight against crises?”, Calgary Real Estate, 20/12/2011.
· “99 percenters hurt more by austerity measures than the 1 percent: Study”, The Huffington Post, 29/11/2011.
· “The weekly papers: Interesting economics research”, The Economist, Blog "Free Exchange", 07/12/2011.
· “Impactos dos cortes: Corte nos salários da função pública prejudica dívida pública”, Público, 27/12/2010.
· “Far from the meddling crowd: Economists struggle to answer a vital question”, The Economist, 2010, October 30th – November 5th, p.76.
· “The housing wealth effect: Falling prices don’t crimp consumption”, The Economist, Blog "Free Exchange", 19/08/2009.