Search Results - "Minford, Patrick"

The Prospects for Brexit: Two Views by Minford, Patrick, Pryce, Vicky

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The effects of Brexit on the UK economy by Minford, Patrick

“…I was astonished during late 2015 to discover that most economists in the UK favoured staying in the EU on the basis of what appeared to be neo‐protectionist…”
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Notes on the banking crisis and the economic outlook by Minford, Patrick

“…Notes on the banking crisis and the economic outlook…”
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Modeling the effects of Brexit on the British economy by Minford, Patrick, Zhu, Zheyi

“…We estimate the short run effects of Brexit border disruption on the UK economy. We estimate a structural VAR for the UK, where Brexit effects are identified…”
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A structural model of coronavirus behaviour: what do four waves of Covid tell us? by Meenagh, David, Minford, Patrick

“…This paper extends Meenagh and Minford (2021) to the four waves of infection in the UK by end-2021, using the unique newly available sample-based estimates of…”
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A structural model of coronavirus behaviour for testing on data behaviour by Meenagh, David, Minford, Patrick

“…We fit the logistic function, the reduced form of epidemic behaviour, to the data for deaths from Covid-19, for a wide variety of countries, with a view to…”
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Ruling out unstable equilibria in New Keynesian models by Minford, Patrick, Srinivasan, Naveen

“…The Taylor rule is an incomplete description of monetary policy within a New Keynesian model. The NK model should be formulated with a money demand function…”
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STABILISATION POLICY, RATIONAL EXPECTATIONS AND PRICE-LEVEL VERSUS INFLATION TARGETING: A SURVEY by Hatcher, Michael, Minford, Patrick

“…We survey literature comparing inflation targeting (IT) and price‐level targeting (PT) as macroeconomic stabilisation policies. Our focus is on New Keynesian…”
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Can a real business cycle model without price and wage stickiness explain UK real exchange rate behaviour? by Meenagh, David, Minford, Patrick, Nowell, Eric, Sofat, Prakriti

“…This paper establishes the ability of a Real Business Cycle model to account for UK real exchange rate behaviour. The model is tested by the method of indirect…”
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Testing competing world trade models against the facts of world trade by Minford, Patrick, Xu, Yongdeng, Dong, Xue

“…We carry out an indirect inference test of two versions of a computable general equilibrium (CGE) model of world trade. One of these, the ‘classical’ model, is…”
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The Banking Crisis: A Rational Interpretation by Minford, Patrick

“…Modern macroeconomic models have been widely criticised as relying too much on rationality and market efficiency. However, their predictions about this crisis…”
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Should Hong Kong switch to Taylor rule?-Evidence from DSGE model by Zhao, Zhiqi, Meenagh, David, Minford, Patrick

“…This paper studies the economy of Hong Kong through the lens of a small open economy DSGE model with a currency board exchange rate commitment. It assumes…”
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Testing Macro Models for Policy Use-An Insurrection in Applied Modelling by Minford, Patrick

“…I describe a new departure in classical testing methods based on Indirect Inference. I argue that it gives policymakers, anxious to know if their models give…”
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Can Modern Monetary Theory fit the post‐Crisis US facts? Evidence from a full DSGE model by Liu, Chunping, Minford, Patrick, Ou, Zhirong

“…Abstract Modern Monetary Theory (MMT) claims that a monetarily sovereign government like the US is never confronted by a real budget constraint since it can…”
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Classical or Gravity? Which Trade Model Best Matches the UK Facts? by Minford, Patrick, Xu, Yongdeng

“…We examine the empirical evidence bearing on whether UK trade is governed by a Classical model or by a Gravity model, using annual data from 1965 to 2015 and…”
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Indirect Inference and Small Sample Bias — Some Recent Results by Meenagh, David, Minford, Patrick, Xu, Yongdeng

“…Macroeconomic researchers use a variety of estimators to parameterise their models empirically. One such is FIML; another is indirect inference (II). One form…”
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Evaluation and indirect inference estimation of inattentive features in a New Keynesian framework by Chou, Jenyu, Cao, Yifei, Minford, Patrick

“…We test the standard New Keynesian (NK) dynamic stochastic general equilibrium (DSGE) model with and without inattentiveness features, where inattentiveness is…”
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Does inattentiveness matter for DSGE modeling? An empirical investigation by Chou, Jenyu, Easaw, Joshy, Minford, Patrick

“…The purpose of this paper is to investigate the empirical performance of the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model in its…”
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Is housing collateral important to the business cycle? Evidence from China by Gai, Yue, Minford, Patrick, Ou, Zhirong

“…•We study whether housing collateral is important to the business cycle in China.•Two competing models are tested using Indirect Inference.•The model with…”
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The role of energy prices in the Great Recession — A two-sector model with unfiltered data by Aminu, Nasir, Meenagh, David, Minford, Patrick

“…We investigate the role of energy shocks during the Great Recession. We study the behaviour of the UK energy and non-energy intensive sectors firms in a real…”
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