Ron Smith

Birkbeck College

Professor of Applied Economics

Malet Street

London WC1E 7HX

United Kingdom

  • Birkbeck College

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    • Tel: +44 207 631 6413
    • Fax: +44 207 631 6416
SCHOLARLY PAPERS

31

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163

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233

Scholarly Papers (31)

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1.

Counterfactual Analysis in Macroeconometrics: An Empirical Investigation into the Effects of Quantitative Easing

IZA Discussion Paper No. 6618
Number of pages: 28 Posted: 16 Jun 2012
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 770 (56,914)
Citation 2

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counterfactuals, policy evaluation, macroeconomics, quantitative easing (QE), UK economic policy

2.

Demographic Structure and Macroeconomic Trends

Downloads 677 (67,424)
Citation 90

Demographic Structure and Macroeconomic Trends

Banco de Espana Working Paper No. 1528
Number of pages: 68 Posted: 05 Oct 2015
Yunus Aksoy, Henrique S. Basso, Ron Smith and Tobias Grasl
Birkbeck University of London, Banco de España, Birkbeck College and University of London - Birkbeck College
Downloads 553 (85,864)
Citation 70

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population age profile, medium-term, output growth, innovation, lifecycle

Demographic Structure and Macroeconomic Trends

CESifo Working Paper Series No. 5872
Number of pages: 64 Posted: 19 May 2016
Yunus Aksoy, Henrique S. Basso, Ron Smith and Tobias Grasl
Birkbeck University of London, Banco de España, Birkbeck College and University of London - Birkbeck College
Downloads 124 (387,605)
Citation 38

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population age profile, medium-term, output growth, innovation, life-cycle, Kuznets cycles

3.

Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model

Downloads 531 (91,419)
Citation 6

Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model

ECB Working Paper No. 1239
Number of pages: 55 Posted: 17 Sep 2010
Stephane Dees, M. Hashem Pesaran, L. Vanessa Smith and Ron Smith
European Central Bank (ECB), University of Southern California - Department of Economics, University of York - Department of Economics and Related Studies and Birkbeck College
Downloads 349 (147,871)
Citation 7

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Global VAR (GVAR), New Keynesian DSGE models, supply shocks, demand shocks, monetary policy shocks

Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model

CESifo Working Paper Series No. 3081
Number of pages: 53 Posted: 15 Jun 2010
Stephane Dees, M. Hashem Pesaran, L. Vanessa Smith and Ron Smith
European Central Bank (ECB), University of Southern California - Department of Economics, University of York - Department of Economics and Related Studies and Birkbeck College
Downloads 182 (282,257)
Citation 3

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global VAR (GVAR), New Keynesian DSGE models, supply shocks, demand shocks, monetary policy shocks

4.

What If the UK Had Joined the Euro in 1999? An Empirical Evaluation Using a Global VAR

Number of pages: 58 Posted: 11 Jun 2005
M. Hashem Pesaran, Ron Smith and L. Vanessa Smith
University of Southern California - Department of Economics, Birkbeck College and University of York - Department of Economics and Related Studies
Downloads 386 (133,318)
Citation 4

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Global VAR (GVAR), Counterfactual Analysis, UK and Sweden entry to euro

5.

Small Sample Properties of Panel Time-Series Estimators with I(1) Errors

Birkbeck College Discussion Paper No. 3/2001, Cass Business School Research Paper
Number of pages: 32 Posted: 23 Jun 2001
Ana-Maria Fuertes, Jerry Coakley and Ron Smith
Bayes Business School, City, University of London, University of Essex - Essex Business School and Birkbeck College
Downloads 359 (144,414)
Citation 16

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Monte Carlo, response surface, spurious regression, PPP

6.

Unobserved Heterogeneity in Panel Time Series Models

Birkbeck College Working Paper in Economics & Finance No. 0403, Cass Business School Research Paper
Number of pages: 25 Posted: 03 Nov 2004
Ana-Maria Fuertes, Jerry Coakley and Ron Smith
Bayes Business School, City, University of London, University of Essex - Essex Business School and Birkbeck College
Downloads 320 (163,424)
Citation 20

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Factor analysis, global shocks, latent variables, Feldstein-Horioka, PPP

7.

Beyond the DSGE Straitjacket

Downloads 291 (180,548)
Citation 4

Beyond the DSGE Straitjacket

CESifo Working Paper Series No. 3447
Number of pages: 16 Posted: 17 May 2011
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 242 (216,303)
Citation 1

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macroeconometric models, DSGE, VARs, long run theory

Beyond the DSGE Straitjacket

IZA Discussion Paper No. 5661
Number of pages: 17 Posted: 25 Apr 2011
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 49 (678,625)
Citation 6

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macroeconometric models, DSGE, VARs, long run theory

8.

Identification of New Keynesian Phillips Curves from a Global Perspective

Downloads 247 (212,862)
Citation 17

Identification of New Keynesian Phillips Curves from a Global Perspective

CESifo Working Paper Series No. 2219, IEPR Working Paper No. 08.1, ECB Working Paper No. 892
Number of pages: 41 Posted: 12 Feb 2008
Stephane Dees, M. Hashem Pesaran, L. Vanessa Smith and Ron Smith
European Central Bank (ECB), University of Southern California - Department of Economics, University of York - Department of Economics and Related Studies and Birkbeck College
Downloads 166 (305,942)

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Global VAR (GVAR), identification, New Keynesian Phillips Curve, Trend-Cycle decomposition

Identification of New Keynesian Phillips Curves from a Global Perspective

IZA Working Paper No. 3298
Number of pages: 32 Posted: 23 May 2008
Stephane Dees, M. Hashem Pesaran, L. Vanessa Smith and Ron Smith
European Central Bank (ECB), University of Southern California - Department of Economics, University of York - Department of Economics and Related Studies and Birkbeck College
Downloads 81 (520,234)
Citation 1

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New Keynesian Phillips Curve, identification, Global VAR (GVAR), trend-cycle decomposition

9.

Macroeconometric Modelling with a Global Perspective

IEPR Working Paper No. 06.43, CESifo Working Paper Series No. 1659
Number of pages: 31 Posted: 20 Jan 2006
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 228 (230,058)
Citation 1

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Global VAR (GVAR), DSGE models, VARX

10.

Counterfactual Analysis in Macroeconometrics: An Empirical Investigation into the Effects of Quantitative Easing

CESifo Working Paper Series No. 3879
Number of pages: 27 Posted: 19 Jul 2012
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 191 (270,792)
Citation 10

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counterfactuals, policy evaluation, macroeconomics, quantitative easing (QE), UK economic policy

11.

Revisiting the Great Ratios Hypothesis

Downloads 178 (288,083)
Citation 1

Revisiting the Great Ratios Hypothesis

CESifo Working Paper No. 9625
Number of pages: 95 Posted: 22 Mar 2022
Alexander Chudik, M. Hashem Pesaran and Ron Smith
Federal Reserve Banks - Federal Reserve Bank of Dallas, University of Southern California - Department of Economics and Birkbeck College
Downloads 164 (309,165)

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great ratios, debt, consumption, and investment to GDP ratios, arbitrage conditions, heterogeneous panels, episodic cointegration, two-way long-run causality, error cross-sectional dependence

Revisiting the Great Ratios Hypothesis

Globalization Institute Working Paper No. 415
Number of pages: 95 Posted: 30 Mar 2022 Last Revised: 05 May 2023
Alexander Chudik, M. Hashem Pesaran and Ron Smith
Federal Reserve Banks - Federal Reserve Bank of Dallas, University of Southern California - Department of Economics and Birkbeck College
Downloads 14 (973,755)
Citation 1

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great ratios, heterogeneous panels, cointegration, two-way long-run causality, error cross-sectional dependence

12.

The Economic Impact of Demographic Structure in OECD Countries

CESifo Working Paper Series No. 3960
Number of pages: 36 Posted: 17 Oct 2012
Yunus Aksoy, Tobias Grasl and Ron Smith
Birkbeck University of London, University of London - Birkbeck College and Birkbeck College
Downloads 163 (310,703)
Citation 1

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demographic changes, macroeconomic variables, business cycle

13.

On Identification of Bayesian DSGE Models

Downloads 156 (322,482)
Citation 7

On Identification of Bayesian DSGE Models

IZA Discussion Paper No. 5638
Number of pages: 39 Posted: 18 Apr 2011
Gary Koop, M. Hashem Pesaran and Ron Smith
University of Strathclyde, Glasgow - Strathclyde Business School - Department of Economics, University of Southern California - Department of Economics and Birkbeck College
Downloads 78 (532,396)
Citation 1

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Bayesian identification, DSGE models, posterior updating, New Keynesian Phillips Curve

On Identification of Bayesian DSGE Models

CESifo Working Paper Series No. 3423
Number of pages: 38 Posted: 27 Apr 2011
Gary Koop, M. Hashem Pesaran and Ron Smith
University of Strathclyde, Glasgow - Strathclyde Business School - Department of Economics, University of Southern California - Department of Economics and Birkbeck College
Downloads 78 (532,396)
Citation 7

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Bayesian identification, DSGE models, posterior updating, New Keynesian Phillips Curve

14.

Factor Strengths, Pricing Errors, and Estimation of Risk Premia

CESifo Working Paper No. 8947
Number of pages: 44 Posted: 18 Mar 2021
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 145 (342,362)

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15.

Tests of Policy Ineffectiveness in Macroeconometrics

Downloads 138 (355,906)

Tests of Policy Ineffectiveness in Macroeconometrics

CAFE Research Paper No. 14.07
Number of pages: 39 Posted: 16 Jun 2014
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 77 (536,556)

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Counterfactuals, policy analysis, policy ineffectiveness test, macroeconomics

Tests of Policy Ineffectiveness in Macroeconometrics

CESifo Working Paper Series No. 4871
Number of pages: 39 Posted: 23 Jul 2014
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 61 (610,425)

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counterfactuals, policy analysis, policy ineffectiveness test, macroeconomics

16.

Arbitrage Pricing Theory, the Stochastic Discount Factor and Estimation of Risk Premia from Portfolios

CESifo Working Paper No. 9001
Number of pages: 29 Posted: 16 Apr 2021
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 133 (366,189)
Citation 1

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17.

The Role of Factor Strength and Pricing Errors for Estimation and Inference in Asset Pricing Models

CESifo Working Paper No. 7919
Number of pages: 44 Posted: 27 Nov 2019
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 127 (379,181)

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arbitrage pricing theory, APT, factor strength, identification of risk premia, two-pass regressions, Fama-French factors

18.

Pairwise Tests of Purchasing Power Parity Using Aggregate and Disaggregate Price Measures

CESifo Working Paper Series No. 1704
Number of pages: 21 Posted: 11 May 2006
M. Hashem Pesaran, Ron Smith, Takashi Yamagata and Liudmyla Hvozdyk
University of Southern California - Department of Economics, Birkbeck College, University of Cambridge - Faculty of Economics and Politics and Ludwig Maximilian University of Munich (LMU) - Munich Graduate School of Economics (MGSE)
Downloads 125 (383,827)
Citation 1

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purchasing power parity, panel data, pairwise approach, cross section dependence

19.

Signs of Impact Effects in Time Series Regression Models

Downloads 123 (388,515)
Citation 9

Signs of Impact Effects in Time Series Regression Models

CAFE Research Paper No. 13.22
Number of pages: 9 Posted: 10 Oct 2013
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 64 (595,384)

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Regression coefficients, Impact effects

Signs of Impact Effects in Time Series Regression Models

CESifo Working Paper Series No. 4433
Number of pages: 10 Posted: 25 Oct 2013
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 59 (620,996)
Citation 3

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regression coefficients, impact effects

20.

The Role of Pricing Errors in Linear Asset Pricing Models with Strong, Semi-Strong, and Latent Factors

CESifo Working Paper No. 10282
Number of pages: 159 Posted: 23 Feb 2023
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 74 (542,562)

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factor strength, pricing errors, risk premia, missing factors, Fama-French factors, panel R2

21.

Posterior Means and Precisions of the Coefficients in Linear Models with Highly Collinear Regressors

Downloads 69 (563,605)
Citation 1

Posterior Means and Precisions of the Coefficients in Linear Models with Highly Collinear Regressors

USC-INET Research Paper No. 17-34
Number of pages: 24 Posted: 28 Nov 2017
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 35 (777,322)
Citation 1

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Bayesian identification, multicollinear regressions, weakly identified regression coefficients, highly collinear regressors

Posterior Means and Precisions of the Coefficients in Linear Models with Highly Collinear Regressors

CESifo Working Paper Series No. 6785
Number of pages: 25 Posted: 08 Feb 2018
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 34 (785,211)

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Bayesian Identification, Multicollinear Regressions, Weakly Identified Regression Coefficients, Highly Collinear Regressors

22.

A Bayesian Analysis of Linear Regression Models with Highly Collinear Regressors

USC-INET Research Paper No. 18-17 (Revised)
Number of pages: 30 Posted: 11 Oct 2018
M. Hashem Pesaran and Ron Smith
University of Southern California - Department of Economics and Birkbeck College
Downloads 46 (682,345)

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Bayesian Identification, Multicollinear Regressions, Weakly Identified Regression Coefficients, Highly Collinear Regressors.

23.

Global Factors, Unemployment Adjustment and the Natural Rate

Economics: The Open-Access, Open-Assessment E-Journal, Vol. 2, 2008-22
Number of pages: 30 Posted: 18 Dec 2010
Ron Smith and Gylfi Zoega
Birkbeck College and University of Iceland
Downloads 41 (714,499)

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Unemployment dynamics, labour market institutions investment, principal components, global factors

24.

Medium-Run Implications of Changing Demographic Structures for the Macro-Economy

National Institute Economic Review 241 (1), pp. R58-R64, August 2017
Number of pages: 11 Posted: 11 Sep 2018 Last Revised: 01 Oct 2018
Yunus Aksoy, Henrique S. Basso and Ron Smith
Birkbeck University of London, Banco de España and Birkbeck College
Downloads 34 (764,039)
Citation 1

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25.

Pooled Bewley Estimator of Long-Run Relationships in Dynamic Heterogenous Panels

Globalization Institute Working Paper No. 409
Number of pages: 40 Posted: 09 Jul 2021 Last Revised: 15 Nov 2023
Alexander Chudik, M. Hashem Pesaran and Ron Smith
Federal Reserve Banks - Federal Reserve Bank of Dallas, University of Southern California - Department of Economics and Birkbeck College
Downloads 30 (795,078)
Citation 7

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Heterogeneous dynamic panels, I(1) regressors, pooled mean group estimator (PMG), Autoregressive-Distributed Lag model (ARDL), Bewley transform, PDOLS, FMOLS, bias correction, robust inference, cross-sectional dependence

26.

Disability and Multi-Dimensional Quality of Life: A Capability Approach to Health Status Assessment

IZA Discussion Paper No. 12686
Number of pages: 35 Posted: 28 Oct 2019
Paul Anand, Laurence S. J. Roope, Anthony J Culyer and Ron Smith
The Open University - Department of Economics, University of Oxford - Health Economics Research Centre (HERC), University of York - Department of Economics and Related Studies and Birkbeck College
Downloads 26 (828,083)
Citation 1

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mobility impairment, disability, capabilities, health, Sen, extra-welfarism

27.

Managing Asymmetric Conflict

Oxford Economic Papers, Vol. 58, No. 2, pp. 183-208, 2006
Posted: 29 Feb 2008
John Paul Dunne, María D. C. García‐Alonso, Paul Levine and Ron Smith
University of the West of England, University of Kent, Canterbury, School of Economics, University of Surrey and Birkbeck College

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28.

Models of Military Expenditure and Growth: A Critical Review

Defence and Peace Economics, Vol. 16, pp. 449-461, 2005
Posted: 24 Jan 2006
John Paul Dunne, Ron Smith and Dirk Willenbockel
University of the West of England, Birkbeck College and University of Sussex - Institute of Development Studies

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Military expenditure, Defence spending, Growth

29.

The Prisoners' Dilemma and Regime-Switching in the Greek-Turkish Arms Race

Journal of Peace Research, Vol. 37, pp. 737-750, 2000
Posted: 07 Dec 2004
Ron Smith, Martín Sola and Fabio Spagnolo
Birkbeck College, Universidad Torcuato Di Tella and Brunel University London - Economics and Finance

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30.

The Arms Trade Game: From Laissez-Faire to a Common Defence Policy

Posted: 30 Jul 2000
Paul Levine and Ron Smith
School of Economics, University of Surrey and Birkbeck College

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31.

Saving, Investment and Capital Mobility in Ldcs

Review of International Economics, January 29, 1998
Posted: 16 Feb 1998
Jerry Coakley, Farida Hasan and Ron Smith
University of Essex - Essex Business School, Primark Decision Economics and Birkbeck College

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