Patrick Minford

Cardiff University Business School

Aberconway Building

Colum Drive

Cardiff, CF10 3EU

United Kingdom

Centre for Economic Policy Research (CEPR)

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London

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SCHOLARLY PAPERS

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109

Scholarly Papers (63)

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1.

Should Britain Join the Euro?

IEA Occasional Paper No. 126
Number of pages: 80 Posted: 19 Mar 2005
Patrick Minford
Cardiff University Business School
Downloads 1,797 (9,238)

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euro, EU, interest rates, ECB

2.

Were 364 Economists All Wrong?

Institute of Economic Affairs Monographs, Readings 60, 2006, Cass Business School Research Paper
Number of pages: 76 Posted: 11 Apr 2006
Philip Booth, Tim Congdon, David Laws, Patrick Minford, Stephen Nickell, Maurice Peston, Derek Scott and Geoffrey Wood
City University London - Sir John Cass Business School, Institute of Economic Affairs (IEA), Liberal Democrat Work and Pensions, Cardiff University Business School, University of Oxford - Nuffield College of Medicine, House of Lords, Barclays de Zoete Wedd and Cass Business School
Downloads 306 (103,840)

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budget, fiscal policy, monetary policy, 1981, Howe

3.

Towards a Liberal Utopia?

IEA Research Paper HPB No. 32, Cass Business School Research Paper
Number of pages: 159 Posted: 10 Feb 2005
Roger Bate, John Blundell, Philip Booth, Tim Congdon, Tim Evans, Helen Evans, David G. Green, Ralph Harris, David Henderson, Richard Wellings, Patrick Minford, David Montgomery, Julian Morris, Paul Ormerod, Geoffrey Owen, Mark Pennington, Razeen Sally, Arthur Seldon, Len Shackleton and James Tooley
American Enterprise Institute (AEI), IEA, Institute of Economic Affairs, U.K., City University London - Sir John Cass Business School, Lombard Street Research, Independent Healthcare Association (IHA), National Health Service, CIVITAS: The Institute for the Study of Civil Society, Institute of Economic Affairs (IEA) - UK, City University of London - Institute of Economic Affairs, Institute of Economic Affairs (IEA), Cardiff University Business School, Charles River Associates, Incorporated, International Center for Law and Economics, Volterra Consulting, London School of Economics & Political Science (LSE) - Interdisciplinary Institute of Management, University of London - Department of Political Economy, London School of Economics & Political Science (LSE), Independent, University of Westminster and University of Newcastle - E.G. West Centre
Downloads 249 (129,125)

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Liberal, liberalism, economics, political economy, utopia, Hayek

4.

The Euro – The Beginning, the Middle...and the End?

Institute of Economic Affairs Monographs, Hobart Paperback 39, 2013, Institute of Economic Affairs Monographs, 2013
Number of pages: 216 Posted: 23 May 2013 Last Revised: 29 Aug 2013
Philip Booth, Francisco Cabrillo Rodríguez, Juan Castaneda, John Chown, Jamie Dannhauser, Kevin Dowd, Katja Hengstermann, Bodo Herzog, Andrew Lilico, Patrick Minford, Neil Record and Pedro Schwartz
City University London - Sir John Cass Business School, Complutense University of Madrid - Industrial and Financial Analysis Institute (IAIF), University of Buckingham, Independent, Lombard Street Research, Nottingham University Business School (NUBS), Independent, Reutlingen University - ESB Business School, Europe Economics, Cardiff University Business School, Record Currency Management Limited and Universidad CEU San Pablo
Downloads 132 (227,358)

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5.

The Role of Global Shocks in Explaining US Output and Real Exchange Rate: Evidence From Unfiltered Data

USAEE Working Paper No. 16-228
Number of pages: 37 Posted: 22 Jan 2016 Last Revised: 16 Feb 2020
David Meenagh, Patrick Minford and Olayinka Oyekola
Cardiff University Business School, Cardiff University Business School and University of Exeter INTO
Downloads 62 (367,563)

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6.

Are the Facts of UK Inflation Persistence to Be Explained by Nominal Rigidity or Changes in Monetary Regime?

WEF Working Paper No. 0028
Number of pages: 37 Posted: 02 Nov 2007
David Meenagh, Patrick Minford, Eric Nowell, Prakriti Sofat and Naveen Srinivasan
Cardiff University Business School, Cardiff University Business School, University of Liverpool Management School (ULMS) - Economics Division, Cardiff University Business School and Cardiff University Business School
Downloads 44 (428,524)

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inlfation persistence, New Keynesian, New Classical, nominal rigidity, monetary regime shifts

7.

Explaining the Equity Risk Premium

Downloads 35 (465,657)
Citation 3

Explaining the Equity Risk Premium

CEPR Discussion Paper No. 5017
Number of pages: 45 Posted: 24 Aug 2005
Laurian Lungu and Patrick Minford
Cardiff Business School and Cardiff University Business School
Downloads 23 (545,092)
Citation 1
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Equity premium puzzle, risk premium

Explaining the Equity Risk Premium

Manchester School, Vol. 74, No. 6, pp. 670-700, December 2006
Number of pages: 31 Posted: 10 Nov 2006
Laurian Lungu and Patrick Minford
Cardiff Business School and Cardiff University Business School
Downloads 12 (621,410)
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8.

Energy Business Cycles

Number of pages: 34 Posted: 22 Jan 2016 Last Revised: 18 Mar 2020
David Meenagh, Patrick Minford and Olayinka Oyekola
Cardiff University Business School, Cardiff University Business School and University of Exeter INTO
Downloads 30 (489,318)
Citation 1

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Two sector, US DSGE model, Oil price volatility, Open economy, Indirect inference

9.

Britain and Emu: Assessing the Costs in Macroeconomic Variability

The World Economy, Vol. 27, No. 3, pp. 301-358, March 2004
Number of pages: 58 Posted: 22 Mar 2004
Patrick Minford, David Meenagh and Bruce Webb
Cardiff University Business School, Cardiff University Business School and Cardiff University Business School
Downloads 27 (505,170)
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10.

Joining the Euro - the Macro Effects on the UK Economy

CEPR Discussion Paper No. 3602
Number of pages: 59 Posted: 22 Nov 2002
David Meenagh, Patrick Minford and Bruce Webb
Cardiff University Business School, Cardiff University Business School and Cardiff University Business School
Downloads 25 (516,428)
Citation 3
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Euro, floating, single currency, exchange rate instability, business cycle, transmission mechanisms

11.

The Report of the Conservative Party Tax Reform Commission

Economic Affairs, Vol. 27, No. 2, pp. 80-82, June 2007
Number of pages: 3 Posted: 18 Jun 2007
David B. Smith, Eugene Michaels, Tim Congdon and Patrick Minford
University of Derby, Derby Business School, Institute of Economic Affairs (IEA) and Cardiff University Business School
Downloads 23 (528,171)
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12.

On the Equality of Real Interest Rates Across Borders in Integrated Capital Markets

CEPR Discussion Paper No. 5611
Number of pages: 11 Posted: 05 Jul 2006
Patrick Minford and David A. Peel
Cardiff University Business School and Lancaster University - Management School
Downloads 22 (534,191)
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Real interest rates, real exchange rates, roll

13.

The Observational Equivalence of Taylor Rule and Taylor-Type Rules

CEPR Discussion Paper No. 2959
Number of pages: 30 Posted: 28 Sep 2001
Patrick Minford, Francesco Perugini and Naveen Srinivasan
Cardiff University Business School, Cardiff University - Cardiff Business School and Cardiff University Business School
Downloads 21 (540,251)
Citation 1
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Observational equivalence, monetary policy rules

14.

Simulating Stock Returns Under Switching Regimes - a New Test of Market Efficiency

CEPR Discussion Paper No. 5614
Number of pages: 17 Posted: 05 Jul 2006
David Meenagh, Patrick Minford and David A. Peel
Cardiff University Business School, Cardiff University Business School and Lancaster University - Management School
Downloads 19 (552,586)
Citation 1
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Regime switching, stock returns, efficient markets, rational expectations

15.

UK Inflation Persistence: Policy or Nature?

CEPR Discussion Paper No. 5608
Number of pages: 51 Posted: 29 Jun 2006
Patrick Minford, Prakriti Sofat, Naveen Srinivasan and Eric Nowell
Cardiff University Business School, Cardiff University Business School, Cardiff University Business School and University of Liverpool Management School (ULMS) - Economics Division
Downloads 18 (558,799)
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Inflation, bootstraps

16.

Nominal Contracting and Monetary Targets - Drifting into Indexation

The Economic Journal, Vol. 113, pp. 65-100, 2003
Number of pages: 36 Posted: 08 Mar 2003
Patrick Minford, Eric Nowell and Bruce Webb
Cardiff University Business School, University of Liverpool Management School (ULMS) - Economics Division and Cardiff University Business School
Downloads 18 (558,799)
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17.

Real Exchange Rate Overshooting RBC Style

CEPR Discussion Paper No. 5029
Number of pages: 55 Posted: 12 Sep 2005
Prakriti Sofat, Patrick Minford, Eric Nowell and David Meenagh
Cardiff University Business School, Cardiff University Business School, University of Liverpool Management School (ULMS) - Economics Division and Cardiff University Business School
Downloads 16 (571,076)
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Real exchange rate, productivity, real business cycle

18.

Calvo Contracts: A Critique

CEPR Discussion Paper No. 4288
Number of pages: 17 Posted: 07 Apr 2004
Patrick Minford and David A. Peel
Cardiff University Business School and Lancaster University - Management School
Downloads 16 (571,076)
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Price stickiness, indexing, rational expectations, Phillips curve, new-Keynesian synthesis

19.

Optimal Monetary Policy with Endogenous Contracts: Should We Return to a Commodity Standard?

CEPR Discussion Paper No. 2616
Number of pages: 40 Posted: 11 May 2001
Patrick Minford and Eric Nowell
Cardiff University Business School and University of Liverpool Management School (ULMS) - Economics Division
Downloads 16 (571,076)
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Monetary rules, price level targeting, interest rate setting, inflation targeting

20.

Calvo Contracts - Optimal Indexation in General Equilibrium

CEPR Discussion Paper No. 5616
Number of pages: 48 Posted: 05 Jul 2006
Vo Phuong Mai Le and Patrick Minford
Cardiff University - Cardiff Business School and Cardiff University Business School
Downloads 15 (577,392)
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New Keynesian, Calvo contracts, indexing

21.

Exploitability as a Specification Test of the Phillips Curve

CEPR Discussion Paper No. 3612
Number of pages: 9 Posted: 29 Nov 2002
Patrick Minford and David A. Peel
Cardiff University Business School and Lancaster University - Management School
Downloads 14 (583,917)
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Phillips Curve, Calvo contract, overlapping wages

22.

Joining the European Monetary Union - Comparing First and Second Generation Open Economy Models

CEPR Discussion Paper No. 5615
Number of pages: 14 Posted: 05 Jul 2006
Vo Phuong Mai Le and Patrick Minford
Cardiff University - Cardiff Business School and Cardiff University Business School
Downloads 13 (590,444)
Citation 1
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Monetary union, representative agent model, multi-country model, wage rigidity, asymmetry

23.

Monetary Regimes: Is There a Trade-Off between Consumption and Employment Variability?

CEPR Discussion Paper No. 5609
Number of pages: 42 Posted: 29 Jun 2006
Patrick Minford, Kent Matthews, David Meenagh and Bruce Webb
Cardiff University Business School, Cardiff University Business School, Cardiff University Business School and Cardiff University Business School
Downloads 11 (603,802)
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Robustness, heterogenous welfare, money supply rules, interest rate setting, price level targeting

24.

Determinacy in New Keynesian Models: A Role for Money after All?

CEPR Discussion Paper No. DP7960
Number of pages: 23 Posted: 24 Aug 2010
Patrick Minford and Naveen Srinivasan
Cardiff University Business School and Cardiff University Business School
Downloads 7 (630,754)
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Determinacy, Money Supply, New-Keynesian, Taylor Rule, Terminal Condition

25.

How Important is the Credit Channel? An Empirical Study of the US Banking Crisis

CEPR Discussion Paper No. DP9142
Number of pages: 22 Posted: 28 Sep 2012
Chunping Liu and Patrick Minford
affiliation not provided to SSRN and Cardiff University Business School
Downloads 6 (637,619)
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bank crisis, credit channel, financial frictions, indirect inference

26.

Testing a Model of the UK by the Method of Indirect Inference

CEPR Discussion Paper No. DP6849
Number of pages: 33 Posted: 17 Jun 2008
David Meenagh, Patrick Minford and Konstantinos Theodoridis
Cardiff University Business School, Cardiff University Business School and Cardiff University
Downloads 5 (644,609)
Citation 1
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Bootstrap, Indirect inference, Model evaluation, Non-linear Time Series Models, Open economy models, UK models

27.

Vicious and Virtuous Circles - The Political Economy of Unemployment in Interwar UK and USA

CEPR Discussion Paper No. DP6839
Number of pages: 35 Posted: 12 Jun 2008
Kent Matthews, Patrick Minford and Ruthira Naraidoo
Cardiff University Business School, Cardiff University Business School and affiliation not provided to SSRN
Downloads 5 (644,609)
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"vicious" and "virtuous" circles, bootstrapping, Equilibrium unemployment, forecasting, Political economy

28.

What Causes Banking Crises? An Empirical Investigation

CEPR Discussion Paper No. DP9057
Number of pages: 28 Posted: 28 Sep 2012
Vo Phuong Mai Le, David Meenagh and Patrick Minford
Cardiff University - Cardiff Business School, Cardiff University Business School and Cardiff University Business School
Downloads 4 (651,769)
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Banking, Bootstrap, Crisis, DSGE

29.

Postwar Business Cycles: What Are the Prime Drivers?

Number of pages: 37 Posted: 27 Mar 2020
David Meenagh, Patrick Minford and Olayinka Oyekola
Cardiff University Business School, Cardiff University Business School and University of Exeter INTO
Downloads 3 (659,636)

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Business Cycles, DSGE, Shocks, Indirect Inference, Unfiltered Data

30.

Banking and the Macroeconomy in China: A Banking Crisis Deferred?

CEPR Discussion Paper No. DP9422
Number of pages: 36 Posted: 16 Apr 2013
Vo Phuong Mai Le, Kent Matthews, David Meenagh, Patrick Minford and Zhiguo Xiao
Cardiff University - Cardiff Business School, Cardiff University Business School, Cardiff University Business School, Cardiff University Business School and Fudan University - School of Management
Downloads 3 (659,636)
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China, Crises, DSGE model, Financial Frictions, Indirect Inference

31.

What Causes Banking Crises? An Empirical Investigation for the World Economy

CEPR Discussion Paper No. DP9392
Number of pages: 31 Posted: 19 Mar 2013
Vo Phuong Mai Le, David Meenagh, Patrick Minford and Zhirong Ou
Cardiff University - Cardiff Business School, Cardiff University Business School, Cardiff University Business School and Cardiff University - Cardiff Business School
Downloads 3 (659,636)
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Banking, DSGE, Indirect Inference

32.

Comparing Behavioural and Rational Expectations for the US Post-War Economy

CEPR Discussion Paper No. DP9132
Number of pages: 21 Posted: 28 Sep 2012
Chunping Liu and Patrick Minford
affiliation not provided to SSRN and Cardiff University Business School
Downloads 3 (659,636)
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bank crisis, behavioural expectations, indirect inference, rational expectations

33.

Why Crises Happen - Nonstationary Macroeconomics

CEPR Discussion Paper No. DP8157
Number of pages: 30 Posted: 27 Dec 2010
James Davidson, David Meenagh, Patrick Minford and Michael Wickens
Cardiff Business School, Cardiff University Business School, Cardiff University Business School and University of York
Downloads 3 (659,636)
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banking crisis, banking regulation, Bootstrap, Indirect Inference, Nonstationarity, Productivity, Real Business Cycle

34.

Can the Fiscal Theory of the Price Level Explain UK Inflation in the 1970s?

CEPR Discussion Paper No. DP7630
Number of pages: 29 Posted: 20 Jan 2010
Jingwen Fan and Patrick Minford
Jinan University and Cardiff University Business School
Downloads 3 (659,636)
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Bootstrap simulation, Fiscal Theory of the Price Level, Indirect inference, UK Inflation, Wald statistic

35.

Testing the Monetary Policy Rule in the US: A Reconsideration of the Fed's Behaviour

CEPR Discussion Paper No. DP7575
Number of pages: 51 Posted: 11 Jan 2010
Patrick Minford and Zhirong Ou
Cardiff University Business School and Cardiff University - Cardiff Business School
Downloads 3 (659,636)
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bootstrap simulation, indirect inference, Monetary policy, New Keynesian model, Taylor-type rules, the 'target rule', VAR, Wald statistic

36.

The 'Puzzles' Methodology: En Route to Indirect Inference?

CEPR Discussion Paper No. DP7539
Number of pages: 26 Posted: 17 Nov 2009
Vo Phuong Mai Le, Patrick Minford and Michael Wickens
Cardiff University - Cardiff Business School, Cardiff University Business School and University of York
Downloads 3 (659,636)
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anomaly, Bootstrap, DSGE, indirect inference, puzzle, US-EU Model, VAR, Wald statistic

37.

Two Orthogonal Continents? Testing a Two-Country DSGE Model of the US and EU Using Indirect Inference

CEPR Discussion Paper No. DP7385
Number of pages: 26 Posted: 26 Aug 2009
Vo Phuong Mai Le, David Meenagh, Patrick Minford and Michael Wickens
Cardiff University - Cardiff Business School, Cardiff University Business School, Cardiff University Business School and University of York
Downloads 3 (659,636)
Citation 1
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Bootstrap, DSGE, indirect inference, New Classical, New Keynesian, Open economy model, VAR, Wald statistic

38.

Can the Facts of UK Inflation Persistence Be Explained by Nominal Rigidity?

CEPR Discussion Paper No. DP6834
Number of pages: 39 Posted: 12 Jun 2008
David Meenagh, Patrick Minford, Eric Nowell, Prakriti Sofat and Naveen Srinivasan
Cardiff University Business School, Cardiff University Business School, University of Liverpool Management School (ULMS) - Economics Division, Cardiff University Business School and Cardiff University Business School
Downloads 3 (659,636)
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Inflation Persistence, Monetary Regime Shifts, New Classical, New Keynesian, Nominal Rigidity

39.

Optimising Indexation Arrangements under Calvo Contracts and Their Implications for Monetary Policy

CEPR Discussion Paper No. DP6325
Number of pages: 23 Posted: 23 May 2008
Vo Phuong Mai Le and Patrick Minford
Cardiff University - Cardiff Business School and Cardiff University Business School
Downloads 3 (659,636)
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Calvo contracts, inflation target, New Keynesian model, optimal indexation, price-level target, rational expectation

40.

Growth and Relative Living Standards - Testing Barriers to Riches on Post-War Panel Data

CEPR Discussion Paper No. DP6288
Number of pages: 42 Posted: 22 May 2008
David Meenagh, Patrick Minford and Jiang Wang
Cardiff University Business School, Cardiff University Business School and Cardiff University - Cardiff Business School
Downloads 3 (659,636)
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bootstrap testing, business regulation, business taxation, government R&D, growth, living standards, public education, structural model

41.

Monetarism Rides Again? US Monetary Policy in a World of Quantitative Easing

CEPR Discussion Paper No. DP10250
Number of pages: 49 Posted: 17 Nov 2014
Vo Phuong Mai Le, David Meenagh and Patrick Minford
Cardiff University - Cardiff Business School, Cardiff University Business School and Cardiff University Business School
Downloads 2 (669,161)
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crises, DSGE model, financial frictions, fiscal multiplier, indirect inference, monetary policy, money supply, QE, zero bound

42.

US Post-War Monetary Policy: What Caused the Great Moderation?

CEPR Discussion Paper No. DP8101
Number of pages: 36 Posted: 29 Nov 2010
Patrick Minford and Zhirong Ou
Cardiff University Business School and Cardiff University - Cardiff Business School
Downloads 2 (669,161)
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Bootstrap, Great Moderation, Indirect Inference, Monetary Policy, New Keynesian Model, Shocks, VAR, Wald Statistic

43.

Some Problems in the Testing of DSGE Models

CEPR Discussion Paper No. DP7621
Number of pages: 9 Posted: 18 Jan 2010
Vo Phuong Mai Le, Patrick Minford and Michael Wickens
Cardiff University - Cardiff Business School, Cardiff University Business School and University of York
Downloads 2 (669,161)
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anomaly, Boostrap, DSGE, indirect inference, puzzle, US-EU model, VAR, Wald statistic

44.

How Much Nominal Rigidity is There in the US Economy? Testing a New Keynesian DSGE Model Using Indirect Inference

CEPR Discussion Paper No. DP7537
Number of pages: 28 Posted: 17 Nov 2009
Vo Phuong Mai Le, Patrick Minford and Michael Wickens
Cardiff University - Cardiff Business School, Cardiff University Business School and University of York
Downloads 2 (669,161)
Citation 2
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Bootstrap, DSGE, grea moderation, indirect inference, New Classical, New Keynesian, regime change, structural break, US Model, VAR, Wald statistic

45.

Testing Macro Models for Policy Use - An Insurrection in Applied Modelling

The Manchester School, Vol. 84, Issue S1, pp. 42-55, 2016
Number of pages: 14 Posted: 05 Aug 2016
Patrick Minford
Cardiff University Business School
Downloads 1 (681,130)
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46.

A Monte Carlo Procedure for Checking Identification in DSGE Models

CEPR Discussion Paper No. DP9411
Number of pages: 21 Posted: 03 Apr 2013
Vo Phuong Mai Le, Patrick Minford and Michael Wickens
Cardiff University - Cardiff Business School, Cardiff University Business School and University of York
Downloads 1 (681,130)
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DSGE Model, Indirect Inference, Monte Carlo

47.

Testing Macroeconomic Models by Indirect Inference on Unfiltered Data

CEPR Discussion Paper No. DP9058
Number of pages: 23 Posted: 28 Sep 2012
David Meenagh, Patrick Minford and Michael Wickens
Cardiff University Business School, Cardiff University Business School and University of York
Downloads 1 (681,130)
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Bootstrap, DSGE, indirect inference, Monte Carlo, VECM

48.

Testing DSGE Models by Indirect Inference and Other Methods: Some Monte Carlo Experiments

CEPR Discussion Paper No. DP9056
Number of pages: 26 Posted: 28 Sep 2012
Vo Phuong Mai Le, David Meenagh, Patrick Minford and Michael Wickens
Cardiff University - Cardiff Business School, Cardiff University Business School, Cardiff University Business School and University of York
Downloads 1 (681,130)
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Bootstrap, DSGE, DSGE-VAR weight, indirect inference, likelihood ratio, New Classical, New Keynesian, Wald statistic

49.

Can the Learnability Criterion Ensure Determinacy in New Keynesian Models?

CEPR Discussion Paper No. DP9039
Number of pages: 17 Posted: 28 Sep 2012
Patrick Minford and Naveen Srinivasan
Cardiff University Business School and Cardiff University Business School
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determinacy, e-stability, learnability, new-Keynesian, Taylor Rule

50.

Monetary Policy and the Credit Crunch

Economic Affairs, Vol. 29, Issue 1, pp. 89-91, March 2009
Number of pages: 3 Posted: 27 Apr 2009
Patrick Minford
Cardiff University Business School
Downloads 1 (681,130)
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51.

Are Central Bank Preferences Asymmetric? A Comment

Economic Notes, Vol. 37, Issue 1, pp. 119-126, February 2008
Number of pages: 8 Posted: 24 Apr 2008
Patrick Minford and Naveen Srinivasan
Cardiff University Business School and Cardiff University Business School
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52.

Testing Part of a DSGE Model by Indirect Inference

Oxford Bulletin of Economics and Statistics, Vol. 81, Issue 1, pp. 178-194, 2019
Number of pages: 17 Posted: 11 Jan 2019
Patrick Minford, Michael Wickens and Yongdeng Xu
Cardiff University Business School, University of York and Cardiff University - Cardiff Business School - Economics Section
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53.

Classical or Gravity? Which Trade Model Best Matches the UK Facts?

CEPR Discussion Paper No. DP12521
Number of pages: 39 Posted: 02 Jan 2018
Patrick Minford and Yongdeng Xu
Cardiff University Business School and Cardiff University - Cardiff Business School - Economics Section
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Bootstrap, classical trade model, gravity model, indirect inference, UK trade

54.

Stabilisation Policy, Rational Expectations and Price‐Level versus Inflation Targeting: A Survey

Journal of Economic Surveys, Vol. 30, Issue 2, pp. 327-355, 2016
Number of pages: 29 Posted: 03 Mar 2016
Michael Hatcher and Patrick Minford
Cardiff University and Cardiff University Business School
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Citation 1
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Inflation targeting, Price‐level targeting, Rational expectations, Stabilisation policy

55.

Comparing Indirect Inference and Likelihood Testing: Asymptotic and Small Sample Results

CEPR Discussion Paper No. DP10765
Number of pages: 20 Posted: 18 Aug 2015
David Meenagh, Patrick Minford, Michael Wickens and Yongdeng Xu
Cardiff University Business School, Cardiff University Business School, University of York and Cardiff University - Cardiff Business School - Economics Section
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DSGE model, error processes, indirect inference, likelihood ratio, structural parameters

56.

Testing Macro Models by Indirect Inference: A Survey for Users

CEPR Discussion Paper No. DP10766
Number of pages: 31 Posted: 18 Aug 2015
Vo Phuong Mai Le, David Meenagh, Patrick Minford, Michael Wickens and Yongdeng Xu
Cardiff University - Cardiff Business School, Cardiff University Business School, Cardiff University Business School, University of York and Cardiff University - Cardiff Business School - Economics Section
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bootstrap, DSGE, indirect inference, likelihood ratio, New Classical, New Keynesian, Wald Statistic

57.

Small Sample Performance of Indirect Inference on DSGE Models

CEPR Discussion Paper No. DP10382
Number of pages: 42 Posted: 02 Feb 2015
Vo Phuong Mai Le, David Meenagh, Patrick Minford and Michael Wickens
Cardiff University - Cardiff Business School, Cardiff University Business School, Cardiff University Business School and University of York
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bootstrap, DSGE, indirect inference, likelihood ratio, new classical, new Keynesian, Wald statistic

58.

How Good are Out of Sample Forecasting Tests on DSGE Models?

CEPR Discussion Paper No. DP10239
Number of pages: 25 Posted: 10 Nov 2014
Patrick Minford, Yongdeng Xu and Peng Zhou
Cardiff University Business School, Cardiff University - Cardiff Business School - Economics Section and Cardiff University - Cardiff Business School
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DSGE, forecast performance, indirect inference, out of sample forecasts, specification tests, VAR

59.

The Role of Fiscal Policy in Britain's Great Inflation

CEPR Discussion Paper No. DP10240
Number of pages: 36 Posted: 10 Nov 2014
Jingwen Fan, Patrick Minford and Zhirong Ou
Jinan University, Cardiff University Business School and Cardiff University - Cardiff Business School
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fiscal theory of the price level, identification, indirect inference, testing, UK inflation

60.

A DSGE Model of China

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A DSGE Model of China

CEPR Discussion Paper No. DP10028
Number of pages: 34 Posted: 25 Sep 2014
Li Dai, Patrick Minford and Peng Zhou
Loyola Marymount University - College of Business Administration, Cardiff University Business School and Cardiff University - Cardiff Business School
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Bayesian Inference, China, DSGE, Indirect Inference

A DSGE Model of China

CEPR Discussion Paper No. DP10238
Number of pages: 37 Posted: 10 Nov 2014
Li Dai and Patrick Minford
Loyola Marymount University - College of Business Administration and Cardiff University Business School
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Bayesian Inference, China, DSGE, Indirect Inference

61.

Stabilization Policy, Rational Expectations and Price-Level Versus Infl‡ation Targeting: A Survey

CEPR Discussion Paper No. DP9820
Number of pages: 40 Posted: 02 Jun 2014
Michael Hatcher and Patrick Minford
Cardiff University and Cardiff University Business School
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inflation targeting, price level targeting, Rational Expectations

62.

The Fiscal Theory of the Price Level - Identification and Testing for the UK in the 1970s

CEPR Discussion Paper No. DP9763
Number of pages: 35 Posted: 25 Nov 2013
Jingwen Fan, Patrick Minford and Zhirong Ou
Jinan University, Cardiff University Business School and Cardiff University - Cardiff Business School
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fiscal theory of the price level, identification, indirect interference, testing, UK inflation

63.

Nonstationary Shocks, Crises and Policy

Rivista Italiana degli Economisti, Vol. 2, August 2012
Posted: 04 Aug 2012
David Meenagh and Patrick Minford
Cardiff University Business School and Cardiff University Business School

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Banking Crisis, Banking Regulation, Bootstrap, Indirect Inference, Nonstationarity, Productivity, Real Business Cycle