Applied Macro, Public and Financial Economics
A growing area of research activity within the Accounting, Finance and Economics department relates to applied macroeconomics, public policy and empirical finance. Research involves investigation into international trade and growth, fiscal austerity, policy and economic reform. Members of the cluster are interested in the dynamic relationship between output, unemployment and wages (Dr Emmanouil Trachanas), fiscal squeeze, public economics (Dr Rozana Himaz) the role of macroeconomic policies in managing natural resources (Dr Rehab Osman), the implications of international trade for welfare and growth (Dr Rehab Osman), financial markets and instability (Dr Jin Suk Park) and corporate finance and asset pricing (Dr Yan Huang).
- Fiscal squeeze, austerity and electoral effects (Dr Rozana Himaz, 2013)
This project explores fiscal squeeze (public spending cuts and revenue increases) in the UK over the past 100 years and across selected countries, part of the three year Economic and Social Research Council funded professorial fellowship project 'When the Party is Over' with Professor Christopher Hood, CBE (Oxford).
- Macrocosmic policies and natural resource management (Dr Rehab Osman, 2014)
- Trade policies, welfare and growth (Dr Rehab Osman, 2015)
- Speculative behaviour in the commodity futures markets (Dr Jin Suk Park, 2015)
- Forecasting in production and logistics (Dr Jin Suk Park, 2015)
- Spatial price transmission in global dairy commodity markets (Dr Emmanouil Trachanas, 2015)
- Asymmetries in the Output-Unemployment Relationship and Jobless Recovery (Dr Emmanouil Trachanas, 2015)
In formulating a sustainable management framework for world natural resources, this project engages with the policy debate on how macroeconomic, monetary and fiscal policies should be designed to support low carbon emission, efficient water usage and high agricultural productivity. A new social accounting matrix for Egypt was constructed to conduct quantitative assessment for agricultural and irrigation policies within a computable general equilibrium modelling framework.
The implications of international and regional trade policies for welfare, structural change, fiscal and factor market adjustments are examined in this project. At the international level, welfare effects of the EU economic partnership agreements (EPAs) on African countries are examined using a global CGE model. At the regional level, potential effects of agricultural productivity on intra-Nile Basin trade are assessed.
Since the recent financial crisis in 2007-08, new regulations were introduced into the futures markets. It is now time to evaluate whether and how the regulations actually changed the behaviours of market participants. Specifically, this project investigates the impact of the Dodd-Frank Act on speculative activities and their influences on price, volatility and volume predictability.
The prediction of twenty-foot equivalent unit (TEU) throughput is an important theme in transportation economics as it is the basis for policy and business decisions. Exploration of TEU throughput and business cycles is examined through the effectiveness of forecasting based on switching models under business cycles.
Magnitude and speed of price transmission between geographically separate markets indicates the degree that markets are integrated/globalised or segmented/regionalised. The degree of integration impacts the total level of welfare obtained and the distribution of benefits among the markets/regions involved in trade. This research addressed the transmission of price shocks between the major dairy commodity producing regions (Oceania, the US and the EU).
During recession periods the quest on the relation between output and unemployment persistently resurfaces mainly due to mounting unemployment. This study attempts to explore the dynamics of this relation by implementing asymmetric methodologies so as to survey the adjustment of unemployment following changes in output.
- ESRC Professorial Fellowship funding awarded to Dr. Rozana Himaz for her research project called When the Party's Over: The Politics of Austerity in Public Services, (Grant holder: Professor Christopher Hood, Oxford University) (2011-2015)
- Funding from Massey University, New Zealand awarded to Dr Emmanouil Trachanas for his research project called Spatial Price Transmission in Global Dairy Commodity Markets. (2015)
- European Commission funding awarded to Dr Rehab Osman for his project on Developing a SAM/CGE Framework for Water Quality Assessment Using Satellite Account. (2013)