11/04/2015
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Aims and Scope of the Journal Economic & Financial Modelling

Economic & Financial Modelling presents recent advances in all aspects of economic modelling. It is intended that the journal should act as a forum for new developments in different aspects of economic and financial modelling – covering national macroeconomic models and related topics; models of international trade; general equilibrium, microeconomic and econometric simulation models; methodological aspects of model building; dynamic games, rational and adaptive expectations; and reports in areas including finance, agriculture, energy and natural resources. It is also one of the aims of this journal to bring closer the work of economic modellers to that of non-modellers.

Among the articles published in Economic & Financial Modelling

  • Breaking the Persistence of Inflation – Christine Lagarde, European Central Bank
  • Navigating the Path of the Euro – H. Scobie, European Economics & Financial Centre
  • Tool for Asset Managers to Design and Implement ESG Investment Strategies – Torsten Ehlers, Ulrike Elsenhuber, Anandakumar Jegarasasingam and Eric Jondeau, Bank for International Settlements
  • Yield Curve Inversion and Its Predictive Power – H. Scobie, European Economics & Financial Centre, and K. Dai, London Business School
  • Transition to Normalising Monetary Policy – Constantinos Herodotou, Central Bank of Cyprus
  • Anchoring Inflation Expectations and Restrictive Monetary Policy – Jiří Rusnok, Czech National Bank
  • International Reserves and Defence Against Global Shocks – Alejandro Díaz de León, Bank of Mexico
  • The Macroeconomic Impact of the “Second Wave” of COVID-19 on the Italian Economy – Paolo Mameli, Intesa Sanpaolo Bank
  • Monetary Policy in the Pandemic: The Mexican Experience – Jonathan Heath, Bank of Mexico
  • Factors Impacting Secondary Bond Markets – Andy Hill, Elizabeth Callaghan and Gabriel Callsen, International Credit Markets Association
  • On the Latin American Term Premiums – Manuel Ramos-Francia, Central Bank of Mexico
  • Methodology for Computation of EU Business and Consumer Surveys – European Commission
  • Model Methodology and Framework for Supervisory Stress Test of the US Federal Reserve –  Board of Governors of the Federal Reserve System
  • The Maze of Brexit Uncertainty: Economic and Financial Implications for the UK Economy –  H. Scobie and N. Dashiell, European Economics & Financial Centre
  • The Transition to Risk-free Rates in the Bond Market – Paul Richards, International Credit Markets Association
  • International Coordination of Macroprudential Policies – Manuel Ramos-Francia, Central Bank of Mexico
  • Monetary Policy Amidst NAFTA Negotiations and Other Sources of Uncertainty – Javier Guzman Calafell, Central Bank of Mexico
  • End of QE and Rising Interest Rates: Implications for Advanced and Emerging Economies – Javier Guzman Calafell, Central Bank of Mexico
  • Changes in Global Labour Markets – Bank for International Settlements
  • The Economic Policy Outlook in Europe – Jan Smets, European Central Bank 
  • The Principal-Agent Model – Gareth Myles, University of Adelaide, Australia, and Chris Heady, University of Kent, UK
  • Small and Medium-sized Enterprises and the Financial Sector – Luigi Federico Signorini, Bank of Italy
  • Designing Incentives: Tax Compliance versus Financial Regulation Compliance – Gareth Myles, University of Adelaide, and Chris Heady, University of Kent, UK
  • VaR Forecasting: Daily versus Intradaily Data – Ralf Ferdinand Woehrle, Frankfurt University of Applied Sciences, Germany
  • Regulating the Financial Sector – John Ashford, European Economics & Financial Centre
  • Anchoring of Inflation Expectations – Tomasz Lyziak and Maritta Paloviita, European Central Bank
  • The U.S. Economy and Monetary Policy – Loretta J. Mester, Federal Reserve Bank of Cleveland
  • Balance between Risk and Efficiency: the Case of Iceland – Arnor Sighvatsson, Central Bank of Iceland
  • Global Economic Outlook: Forecasting as a Three-Stage Process – Paul Sheard, Standard & Poor’s, New York
  • Forecasting Errors on the Italian Economy – Paolo Mameli, Intesa Sanpaolo Bank, Milan
  • Global Implications of Capital Account Liberalisation in China – John Hooley, Bank of England
  • Covariance Matrix Forecasting Using Intraday Data – Ralf Ferdinand Woehrle, Frankfurt University of Applied Sciences, Germany
  • Fed Taper and Emerging Markets – Peter Hooper, Matthew Luzzetti, & Torsten Slok, Deutsche Bank, Frankfurt
  • Inflation in Japan and the UK – E. Ballesteros and H. Scobie, European Economics & Financial Centre
  • Methodology for Computation of Consumer Price Indices in Italy – ISTAT (Statistics Institute of Italy), Rome
  • The Decline of the West in Search of Lost Identity: New Challenges and Strategies in an Era of Global Shifts – Gianni De Michelis, former Italian Foreign Minister
  • Overcoming a Financial Crisis and Taking the Road Forward: the Case of Iceland – Mar Gudmundsson, Central Bank of Iceland
  • False Discoveries in Performances of UK Mutual Funds in Asian Sectors – X. Lucas Liu, University of Bath, UK
  • A Global Early Warning System for Monitoring Global Risks – Akira Onishi, Soka University, Japan
  • Financial Crises and Policy Measures – H. Scobie, European Economics & Financial Centre
  • The Application and Limits of Sovereign Debt Brakes – Colin Ellis, University of Birmingham, UK
  • Sovereign Rating Methodology: Master Criteria – David Riley, Tony Stringer, Richard Fox & Andrew Colquhoun, Fitch Ratings, New York
  • Prospects for the Global Economic Recovery – Andrew Sentence, Bank of England
  • The Predictive Abilities of the New York Fed’s Empire State Manufacturing survey – Richard Deitz & Charles Steindel, Federal Reserve Bank of New York
  • Monetary Policy under Normal Conditions in the UK, Eurozone and the US – H. Scobie, European Economics and Financial Centre
  • Forecasting Risk and Return from Order Information – Steve E. Satchell & Stephen M. Wright, Birkbeck College, University of London
  • Sources and Characteristics of Foreign Exchange Reserve in China – Yan Haiting, People’s Bank of China
  • Basel II Supervisory Formula – Martin Hansen & Krishnan Ramadurai, Fitch Ratings, New York
  • Could a Systemic Regulator Have Foreseen the Current Crisis? – Eric S. Rosengren, Federal Reserve Bank of Boston
  • Monetary Policy with Close-to-Zero Interest Rates – H. Scobie, A. Lindenberg & S. Daley, European Economics and Financial Centre
  • Managing Risk: The Role of a Central Bank in a Financial Crisis – Jose Manuel Gonzalez-Paramo, European Central Bank
  • A Model of Hierarchical Regulation Control – Ensar Yilmaz, Yildiz Technical University, Turkey
  • Learning from the Financial Crisis –  Sir John Gieve,  Bank of England
  • Modelling Financial and Trade Liberalisation Impact on Emerging Markets: An Application to Turkey – S.M. Samadian, University of Westminster Business School, UK
  • Phemenology of Bubbles, Crashes, and Extreme Events in Financial Markets – Philip Bond, Oxford University
  • A Multiple Period of Gaussian Jump to Default Risk Model – Gary Dunn, Financial Services Authority, UK
  • Forward Looking Inflation Targeting: A Model Applied to Aggregate European Data – Nicholas Apergis, University of Piraeus, Stephen M. Miller, University of Nevada Las Vegas, Alexandros Panethimitakis, University of Athens, & Athanassios Vamvakidis, International Monetary Fund
  • Mixed-Asset Portfolio Analysis with Different Real Estate Sector in the US – Shuyun Huang, London School of Economics
  • Statistical Modelling of Cash and Bond Indices – N.L. Feng, University College, University of London
  • Least-Squares Filter versus Hodrick-Prescott Filter – Hans-Jurg Buttler, Swiss National Bank & University of Zurich
  • Using the Gap Statistic to Find the Correct Number of Mutual Fund Styles – Paul Lajbcygier & Mei Ong, Monash University, Australia
  • Monetary Policy in an Uncertain World – Charles Bean,  Bank of England
  • Credit Default Swap Basis: The Relationship between Cash and Synthetic Credit Markets – M. Choudhry, KBC Bank
  • Bond Yields and Economic Dynamics in Emerging Markets – Ralph Sueppel, BlueCrest Capital Management, London
  • The 2001 Recession and the Chicago Fed National Activity Index: Identifying Business Cycle Turning Points – Charles L. Evans, Chin Te Liu & Genevieve Pham-Kanter, Federal Reserve Bank of Chicago
  • Guidelines for Conduct of Macroprudential Policies – Charlotte Wheeler, European Economics & Financial Centre
  • The Detection of Market Abuse on Financial Markets: A Quantitative Approach – Marcello Minnena, Financial Regulatory Authority of Italy (Consob)
  • A Robust Cross-Sectional Factor Modeling Approach to Equity Forecast Construction – Steven E. Satchell & Stephen M. Wright, Birkbeck College, University of London
  • Competition and Efficiency in Banking International Comparisons – Jacob A. Bikker, Central Bank of the Netherlands, & Jaap W.B. Bos, Utrecht School of Economics
  • Alternative Indices of Apartment Rents in West Germany – Johannes Hoffmann & Claudia Kurz, Deutsche Bundesbank
  • US Pension Reform Revisited: Impact on Market Dynamics – Louise Purtle & Glenn Reynolds, CreditSights, New York
  • Trading Risk Management: Practical Applications to Emerging Markets – Mazin A.M. Al Janabi, Al Akhawayn University, Ifrane, Morocco
  • Market Risk in Commodity Markets:A Switching Regime Approach – Timotheos Angelidis & Alexandros Benos, University of Piraeus, Greece
  • Risky Assets and Hedging in Emerging Markets – Octave Jokung, EDHEC Business School, Lille, France
  • Eurex Derivative Products in Alternative Investments: The Case For Hedge Funds – Thomas Shneeweis & Hossein Kazemi, Isenberg School of Management, University of Massachusetts, & Vassilis Karavas, Schneeweis Partners
  • Modelling the Implied Probability of the Stock Market Movements – Martin Schjeicher & Ernst Glatzer, National Bank of Austria
  • Orthogonal Polynomial Approach for Estimating the Term Structure of Interest Rates – Hans-Jurg Buttler, Swiss National Bank & University of Zurich
  • Danish Mortgage Bonds: Models for Estimating Prepayments – Martin Gregerson, Realkredit Danmark, Denmark
  • A Short-Term Macro-Econometric Forecasting Tool Based on EU Business and Consumer Surveys – David-Pascal Dion, University of Paris Dauphine, & Andreas Kolodziejak, European Commission, Brussels
  • The GIRM:A Global Interest Rate Model – Adrian Orr & Paul Conway, Westpac Institutional Bank, New Zealand
  • Gold Hedging in Practice – John Wixely, Standard Bank, London
  • Macroeconomic Shocks and Stock Market Activity in Greece – George Hondroyiannis, Bank of Greece
  • The Behaviour of the South African Rand – Petrus Potgieter, University of South Africa, Pretoria
  • Measures of Competition and Concentration in the Banking Industry: a Review of the Literature – Jacob A. Bikker & Katharina Haaf, Central Bank of the Netherlands
  • The Behavior of the Euro versus other Currencies – H. Scobie,  European Economics and Financial Centre
  • The Size of an Open Economy and Interest Rates: A General Model – Ignacio Valero Perandones, Universidad Complutense de Madrid
  • Monetary Impact on Exchange Rate Volatility – Adam Koronowski, Collegium Mazovia Innovative University, Siedlce, Poland
  • Multicriteria Judgments for Project Ranking: An Integrated Methodology – Yorgos Goletsis, Dimitris Th. Askounis & Jogh Psarras, National Technical University of Athens, Greece
  • A Model of French Household Portfolio Selection – Catherine Augory, CDC IXIS, Michel Boutillier, University of Paris X and CDC IXIS, & Bruno Sejourne, University of Angers, France, and CDC IXIS
  • A Computable General Equilibrium Analysis of Taxes and Double Dividend: An Application to the Mexican Carbon Tax – Maria Eugenia Ibarraran Viniegra, Universidad de Las Americas, Puebla, Mexico, & Roy Boyd, Ohio University, Athens, Ohio
  • The Role of EU Structural Funds in the Development of the European Regions Lagging Behind – Nicolas Sarantis & E.G. Lolos, Bank of Greece & Panteion University of Athens, & Alexander Th. Theodoulides, Agropole Ltd, Athens, Greece
  • Estimating Monthly GDP in a General Kalman Filter Framework: Evidence from Switzerland – Nicholas A. Couche, University of California at Berkeley, & Martin K. Hess, Instituto Tecnologico Autonomo de Mexico, Mexico City
  • Modelling Inflation: an Application to Estonia – U. Sepp, A. Vesilind & U.Kaasik, Bank of Estonia
  • Improving the Process of Forecasting – Shaw Chen & Jeffery Jarrett, University of Rhode Island, Kingston
  • The Term Structure of Expected Inflation Rates – Hans-Jurg Buttler, Swiss National Bank & University of Zurich
  • A Simple Factor Demand Model and Capacity Effects – Lars Dreier Kristensen & Dan Knudsen, National Bank of Denmark
  • The Effects of Foreign Direct Investment on Trade Flows: Some Evidence for Spain, 1977-1992 – Oscar Bajo-Rubio, Public University of Navarra, & Maria Montero-Munoz, University of Vigo, Spain
  • Euro Area-Wide and Country Modelling at the Start of EMU – Jerome Henry, European Central Bank
  • Unemployment, Advertisement and Consumer Demand: A Theoretical and Consumer Demand: A Theoretical and Empirical Analysis – Fumimasa Hamada, Tokyo International University, Japan
  • Stakeholders and Shareholders – Saziye Gazioglu & W. David McCausland, University of Aberdeen, UK
  • A Dynamic Model of Capital Flows – S.M. Samadian & G. Croft, University of Westminster, UK
  • On General Model of Structured Amortization Schedules – Robert Neuman, Alm. Brand Bank, & Poul Wolffsen, Roskilde University, Denmark
  • Jointly Optimal Inflation Tax, Income Tax Structure and Transfers – Preston J. Miller, Federal Reserve Bank of Minneapolis
  • A Structural Economic Model of the Maltese Economy – Gordon Cordina, Central Bank of Malta
  • Inflation and Unemployment in an Open Economy – M. Dombrecht & P. Moes, National Bank of Belgium
  • Monetary Policy Formulation in Emerging Economies – Tim Laxton, European Economics & Financial Centre
  • Modelling Forward Foreign Currency Market Volatility in Small Countries: the Australian Case – Bruce Felmingham & Peter Mansfield, University of Tasmania, Australia
  • Bankruptcy and Shutdown Rule: an Analysis of Managerial Decision Making – Harlan D. Platt, Majorie B. Platt & Mark Kazarosian, Northeastern University, Boston
  • Transition to EMU and its Impact on Fixed Income Investment – Nicholas Gaussel, Jean Pierre Leoni & Valerie Plagnol, Credit Commercial de France, Paris
  • The GEM – E3 General Equilibrium Model for the European Union – P. Capros, T. Georgakopoulos, National Technical University of Athens, Denise Van Regemorter & Stef Proost, Catholic University Leuven, T. Schmidt, Center for European Economic Research (ZEW) & K. Conrad, University of Mannheim, Germany
  • On the Many Elasticities of Labour Demand: A Small Supply Model for the Belgian Economy – Pierre Wunsch, Attache to the Belgian Secretary of State
  • Fiscal Transfer Payments: Implications of US Structure for the European Monetary Union – H. Scobie & T. Day, European Economics and Financial Centre
  • Modelling of Corporate Investment Decisions: An Application to Philips – S.I. Cohen & F.W. van Tongeren, Erasmus University, Rotterdam
  • The Temporary Solution of a Linear Differential Model under Perfect Foresight – Alejandro Balbas de la Corte, University of Complutense, Madrid, & Arturo Gonzalez- Romero, Ministry of Industry and Energy, Spain
  • An Empirical Model for Spanish Foreign Trade – Ignacio Mauleon & Luis Sastre, University of Salamanca, Spain
  • National Savings, the Current Account & Aging Population: a Pension Fund Model – Jacob Bikker, European Monetary Institute, Frankfurt
  • Formation of Economic Policy in the US Martin Feldstein, Harvard University
  • The University of Pennsylvania Model for High-Frequency Economic Forecasting – Lawrence R. Klein & J. Yong Park, Wharton School, University of Pennsylvania
  • An Econometric Model of Bank Failure – Shelagh Heffernan, City University Business School, London
  • Implications of EMU for the Global Emerging Markets – H. Scobie,  European Economics & Financial Centre
  • Testing Balance Sheet Linkages within the Spanish Savings Banks Industry: A Multivariate Approach – Mariam Camarero, Univeritat Jaume I, Castellon, Spain, Vicente Esteve, Centre de Recherché et Development en Economique (CRDE) Universite de Montreal and University of Valencia, Spain, & Cecilio Tamarit, University of Valencia and Valencian Savings Banks Federation, Valencia, Spain
  • The RUNS Global Trade Model – Jean-Marc Burniaux and Dominique van der Mensbrugghe, OECD
  • Modelling the Firm’s Price and Quality Strategies in Conditions of Isolation and Duopoly – Robert E. Kuenne, Princeton University, New Jersey
  • Efficiency of Combinations of Forecasts Using Inequality Restricted Least Squares – Celal Aksu & Sevket I. Gunter, Wharton School, University of Pennsylvania
  • Modelling an Index of the French Capital Market – Douglas Wood & Bhaskar Dasgupta, Manchester Business School, UK
  • European Monetary Union: Single Currency Feasible without the ERM – H. Scobie, European Economics and Financial Centre
  • Technical Change in Australia During the 1980’s: Simulations with a Computable General Equilibrium Model – B.R. Paramenter, G.A. Meager & P.J. Higgs, Monash University, Australia, and SUNCORP Investments, Brisbane, Australia
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