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Are Global Spillovers Complementary or Competitive? Need for International Policy Coordination (2020)
Journal Article
Bhattarai, K., Mallick, S., & Yang, B. (in press). Are Global Spillovers Complementary or Competitive? Need for International Policy Coordination. Journal of International Money and Finance, https://doi.org/10.1016/j.jimonfin.2020.102291

Advanced and emerging economies are becoming more interdependent with rapid pace of globalization of capital markets and technological innovations in the recent years. We examine whether technology and monetary policy shocks get transmitted between a... Read More about Are Global Spillovers Complementary or Competitive? Need for International Policy Coordination.

Real Exchange Rate Misalignments of Libyan Dinar: Fundamentals and Markov Switching Regimes (2020)
Journal Article
Bhattarai, K., & Ben-Naser, A. (2020). Real Exchange Rate Misalignments of Libyan Dinar: Fundamentals and Markov Switching Regimes. Journal of Development Economics and Finance, 1(1), 151-162

This study found evidence for a time-varying misalignments of equilibrium RER of the Libyan dinar. Markov switching model explains the overvaluation episodes during. Policy makers should urgently align the actual exchange rate very close to the movem... Read More about Real Exchange Rate Misalignments of Libyan Dinar: Fundamentals and Markov Switching Regimes.

Improving forecasting accuracy of the Phillips curve in OECD countries: The role of commodity prices (2020)
Journal Article
Salisu, A. A., Salisu, A. A., Swaray, R., & Sa'id, H. (in press). Improving forecasting accuracy of the Phillips curve in OECD countries: The role of commodity prices. International journal of finance & economics : IJFE, https://doi.org/10.1002/ijfe.1944

We investigate the power of commodity prices to improve inflation forecast performance in 21 OECD countries, within the framework of commodity prices-augmented Phillips curve model. Using monthly data spanning over 57 years, we use single and multi-f... Read More about Improving forecasting accuracy of the Phillips curve in OECD countries: The role of commodity prices.

The role of technological innovation in plastic production within a circular economy framework (2020)
Journal Article
Getor, R. Y., Mishra, N., & Ramudhin, A. (2020). The role of technological innovation in plastic production within a circular economy framework. Resources, Conservation and Recycling, 163, https://doi.org/10.1016/j.resconrec.2020.105094

The growing plastic waste problem has been highlighted by nature programmes like the British Broadcasting Corporation (BBC) War on Plastic series with the World Economic Forum (WEF) 2016 report estimating that by 2050, there could be more plastic tha... Read More about The role of technological innovation in plastic production within a circular economy framework.

Comparisons of deposit types and implications of the financial crisis: Evidence for U.S. banks (2020)
Journal Article
Glass, A. J., Glass, A. J., Kenjegaliev, A., & Kenjegalieva, K. (in press). Comparisons of deposit types and implications of the financial crisis: Evidence for U.S. banks. International journal of finance & economics : IJFE, https://doi.org/10.1002/ijfe.2172

This paper makes three diverse contributions. First, whereas the extant literature estimates a single elasticity of substitution/complementarity from an input distance function, we calculate a range of elasticities. Second, we make a substantive cont... Read More about Comparisons of deposit types and implications of the financial crisis: Evidence for U.S. banks.

Impacts of GST Reforms on Efficiency, Growth and Redistribution of Income in India: A Dynamic CGE Analysis (2020)
Journal Article
Bhattarai, K., & Bhattarai, K. (2020). Impacts of GST Reforms on Efficiency, Growth and Redistribution of Income in India: A Dynamic CGE Analysis. Journal of Development Economics and Finance, 1(1), 93-133

Goods and service tax (GST) introduced as a 'good and simple tax' on 1 July 2017 by the Modi government is the boldest measure of tax reform so far in India. The major aim of this paper is to evaluate the micro and macro impacts of the goods and serv... Read More about Impacts of GST Reforms on Efficiency, Growth and Redistribution of Income in India: A Dynamic CGE Analysis.

Constitution, Institutions and A Model for Economic Development in Nepal (2020)
Journal Article
Bhattarai, K. (2020). Constitution, Institutions and A Model for Economic Development in Nepal. Asian Journal of Economics and Finance, 2(2), 119-151

Nepal made significant progress in removing monarchy and terrors of Maoists in the last decade. It however lacks a stable solution for speedier economic growth and development as the major political parties are still struggling to institutionalize th... Read More about Constitution, Institutions and A Model for Economic Development in Nepal.

Spatial Scale and Product Mix Economies in U.S. Banking with Simultaneous Spillover Regimes (2019)
Journal Article
Glass, A. J., Kenjegaliev, A., & Kenjegalieva, K. (2019). Spatial Scale and Product Mix Economies in U.S. Banking with Simultaneous Spillover Regimes. European journal of operational research, https://doi.org/10.1016/j.ejor.2019.12.036

The literature on bank scale economies focuses on the familiar type of returns to scale that are internal to the firm. Using a spatial approach, we analyze returns to scale for banks that are made up of external (i.e., spillover) economies. We extend... Read More about Spatial Scale and Product Mix Economies in U.S. Banking with Simultaneous Spillover Regimes.

A fractional cointegration VAR analysis of Islamic stocks: A global perspective (2019)
Journal Article
Salisu, A. A., Ndako, U. B., Adediran, I. A., & Swaray, R. (2019). A fractional cointegration VAR analysis of Islamic stocks: A global perspective. North American journal of economics and finance, 101056. https://doi.org/10.1016/j.najef.2019.101056

In this study, we analyse the behaviour of Islamic stocks from a global perspective covering an array of regional Islamic stock markets. Both the fractional integration and fractional cointegration techniques are employed. Thus, we are able to establ... Read More about A fractional cointegration VAR analysis of Islamic stocks: A global perspective.

Capital adjustment cost and inconsistency in income‐based dynamic panel models with fixed effects (2019)
Journal Article
Basu, P., Bhattarai, K., & Getachew, Y. (2019). Capital adjustment cost and inconsistency in income‐based dynamic panel models with fixed effects. German Economic Review, 20(4), e1002-e1018. https://doi.org/10.1111/geer.12202

After the seminal work of Steve Nickell (1981) [S. Nickel, 1981. Biases in dynamic models with fixed effects. Econometrica 49 (6), 1417--1426], a vast literature demonstrate the inconsistency of "conditional convergence" estimator in income based dyn... Read More about Capital adjustment cost and inconsistency in income‐based dynamic panel models with fixed effects.

General Equilibrium Impacts of VAT and Corporate Income Tax in Thailand (2019)
Journal Article
Benjasak, C., & Bhattarai, K. (in press). General Equilibrium Impacts of VAT and Corporate Income Tax in Thailand. International Advances in Economic Research, 25, 263-276. https://doi.org/10.1007/s11294-019-09742-7

In this paper, a computable general equilibrium model of Thailand is constructed in order to assess economy-wide impacts of reforms in the value added tax (VAT) and corporate income tax (CIT) on welfare and reallocation of resources across production... Read More about General Equilibrium Impacts of VAT and Corporate Income Tax in Thailand.

Heterogeneous vertical tax externalities and macroeconomic effects of federal tax changes: the role of fiscal advantage (2019)
Journal Article
Perez Sebastian, F., Raveh, O., & Reingewertz, Y. (2019). Heterogeneous vertical tax externalities and macroeconomic effects of federal tax changes: the role of fiscal advantage. Journal of urban economics, 112, 85-110. https://doi.org/10.1016/j.jue.2019.06.003

How do state tax rates respond to federal tax shocks? This paper presents a novel mechanism of heterogeneous vertical tax externalities across state-levels of fiscal advantage, showing that tax increases can be expansionary even without their reinves... Read More about Heterogeneous vertical tax externalities and macroeconomic effects of federal tax changes: the role of fiscal advantage.

League tables and concentric banding: how similar are the employment and education domains of the Index of Multiple Deprivation 2010? (2019)
Journal Article
Nolan, M. A., Reynolds, M., & Trotter, S. (in press). League tables and concentric banding: how similar are the employment and education domains of the Index of Multiple Deprivation 2010?. Applied Spatial Analysis and Policy, https://doi.org/10.1007/s12061-019-09302-w

This paper seeks to provide further evidence about ‘league table’ orderings for deprivation in local areas, especially for two domains – employment and education – which seem likely to be closely related. Rather than relying solely on administrative... Read More about League tables and concentric banding: how similar are the employment and education domains of the Index of Multiple Deprivation 2010?.

Can urban coffee consumption help predict US inflation? (2019)
Journal Article
Salisu, A. A., Adediran, I. A., Salisu, A. A., Swaray, R., & Adediran, I. A. (2019). Can urban coffee consumption help predict US inflation?. Journal of forecasting, 38(7), 649-668. https://doi.org/10.1002/for.2589

Motivated by the importance of coffee to Americans and the significance of the coffee subsector to the US economy, we pursue three notable innovations. First, we augment the traditional Phillips curve model with the coffee price as a predictor, and s... Read More about Can urban coffee consumption help predict US inflation?.

Games of Two Halves: Non-Experimental Evidence on Cooperation, Defection and the Prisoner's Dilemma (2018)
Journal Article
Dobson, S., & Goddard, J. (2018). Games of Two Halves: Non-Experimental Evidence on Cooperation, Defection and the Prisoner's Dilemma. Review of Economic Analysis : REA Rimini Centre for Economic Analysis, 10(3), 285-312

We develop a stylized two-period game-theoretic model of the strategic choices made by soccer teams when selecting between defensive and attacking team formations, and between non-violent and violent styles of play. Cooperative behaviour during the e... Read More about Games of Two Halves: Non-Experimental Evidence on Cooperation, Defection and the Prisoner's Dilemma.

The labour market consequences of teenage childbearing (2018)
Journal Article
Silles, M. A. (2019). The labour market consequences of teenage childbearing. Contemporary Economic Policy, 37(4), 694-713. https://doi.org/10.1111/coep.12417

This paper provides estimates of the impact of an unanticipated child during adolescence on labour supply and earnings using data for women who gave birth between 1976 and 2015 drawn from the 1990 and 2000 censuses and the American Community Surveys.... Read More about The labour market consequences of teenage childbearing.

What drives vertical fiscal interactions? Evidence from the 1980 Crude Oil Windfall Act (2018)
Journal Article
Perez-Sebastian, F., & Raveh, O. (2018). What drives vertical fiscal interactions? Evidence from the 1980 Crude Oil Windfall Act. Regional Science and Urban Economics, 73, 251-268. doi:10.1016/j.regsciurbeco.2018.10.004

In economies with multi-level governments, why would a change in the fiscal rule of a government in one level lead to a fiscal response by a government in a different level? The literature focused primarily on the standard common-pool problem, while... Read More about What drives vertical fiscal interactions? Evidence from the 1980 Crude Oil Windfall Act.

U.S. stocks in the presence of oil price risk: Large cap vs. small cap (2017)
Journal Article
Swaray, R., Salisu, A. A., & Oloko, T. (2017). U.S. stocks in the presence of oil price risk: Large cap vs. small cap. Economics and business letters, 6(4), 116-124. https://doi.org/10.17811/ebl.6.4.2017.116-124

This study queries the act of making generalization about the dynamics of returns and volatility spillovers between oil price and U.S. stocks by merely considering only large cap stocks. It argues that this kind of generalization may be misleading, a... Read More about U.S. stocks in the presence of oil price risk: Large cap vs. small cap.

Impacts of Trump tax reforms on growth, inequality and debt (2017)
Journal Article
Bhattarai, K., Haughton, J. H., & Tuerck, D. (2017). Impacts of Trump tax reforms on growth, inequality and debt. 00 Journal not listed, 20-21

Reforming the tax system of the US has become a major policy agenda of the Trump administration. After months of negotiations the “Big Six”, including the Treasury Secretary, National Economic Director, Republicans in the House and the Senate are gra... Read More about Impacts of Trump tax reforms on growth, inequality and debt.


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