Rangan GuptaE-mail: Rangan.Gupta@up.ac.za

Postal Address:Department of EconomicsUniversity of Pretoria0002, PretoriaSouth AfricaPhone: +27 12 420 3460

Current Position:

Professor, Department of Economics,University of Pretoria, South Africa.Personal Website: https://sites.google.com/site/ranganguptaeconomics/

Research Interests:

Monetary Theory and Policy, Business Cycles, and Time Series Econometrics.

Education:

� 2000 - 2005:Ph.D. in Economics, University of Connecticut.Dissertation Title:�Essays on Financial Repression."Major Field: Monetary Theory and Policy.Minor Fields: International Finance, Time Series Econometrics.Advisors: Prof. Christian Zimmermann (Principal), Prof. Dhammika Dharmapala, Prof.Olivier F. Morand.

� 1997 - 1999:Master of Science (M. Sc.) in Economics, University of Calcutta, IndiaSpecialization: Monetary Theory and Policy and Environmental Economics.

� 1994 - 1997:Bachelor of Science (B. Sc.) with Honors, Narendrapur R. K. M. R College, Calcutta,University of Calcutta, India.Major: Economics. Minors: Mathematics, Political Science.

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Work Experience:

� July 2009 �: Professor, Department of Economics, University of Pretoria.

� July 2007 �June 2009: Associate Professor, Department of Economics, University of Pretoria.

� August 2005 �June 2007: Senior Lecturer, Department of Economics, University of Pretoria.

� August 2000 �May 2005: Graduate Assistant, Department of Economics, University of Con-necticut.

Teaching Experience:

� Second Semester, 2020; Second Semester, 2019; Second Semester, 2018; First Semester, 2017:Instructor, Time Series Econometrics (Masters Level). University of Pretoria, Pretoria, SouthAfrica.

� First Semester, 2019; First Semester, 2018; Second Semester, 2017; First Semester, 2016;Second Semester, 2014; Second Semester, 2013; Second Semester, 2012; Second Semester,2011; Second Semester, 2010; First Semester, 2009; Second Semester 2007; First Semester,2007; Second Semester, 2006; First Semester, 2006:Instructor, Macroeconomics (M.Phil. and Ph. D. Levels). University of Pretoria, Pretoria,South Africa.

� First Semester, 2020; First Semester, 2019; First Semester, 2018; First Semester, 2017; FirstSemester, 2016; First Semester, 2014; First Semester, 2013; First Semester, 2012; FirstSemester, 2011; First Semester, 2010; Second Semester, 2009; Second Semester, 2008; FirstSemester, 2007; Second Semester, 2006; First Semester, 2006:Instructor, Macroeconomics (Masters Level). University of Pretoria, Pretoria, South Africa.

� First Semester, 2020; First Semester, 2009:Instructor, Monetary Economics (Masters Level). University of Pretoria, Pretoria, SouthAfrica.

� First Semester, 2012; First Semester, 2007:Co-instructor, Boot Camp (Masters, M.Phil. and Ph.D. Levels). University of Pretoria,Pretoria, South Africa.

� Second Semester, 2006; Second Semester, 2005:Co-instructor, Advanced Trade and Investment (Masters Level). University of Pretoria, Pre-toria, South Africa.

� Second Semester, 2005:Co-instructor, International Trade (Honors Level). University of Pretoria, Pretoria, SouthAfrica.

� Spring, 2003 �Spring, 2005:Instructor, Intermediate Macroeconomics. University of Connecticut, Storrs, CT, USA.

� Fall, 2002:Teaching Assistant, Graduate Level Courses in Macroeconomics and Econometrics.University of Connecticut, Storrs, CT, USA.

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� Spring, 2001 �Spring, 2002:Teaching Assistant, Principles of Macroeconomics, Tutor for undergraduate courses in Eco-nomics. University of Connecticut, Storrs, CT, USA.

� Fall, 2000:Research Assistant. University of Connecticut, Storrs, CT, USA.

� Fall, 2000; Spring, 2001; Spring, 2004:Tutor for undergraduate courses in Economics. University of Connecticut, Storrs, CT, USA.

Publications:

� "The Role of Economic Policy Uncertainty in Predicting Output Growth in Emerging Markets:A Mixed-Frequency Granger Causality Approach." (with Mehmet Balcilar and George Ike)(Forthcoming in Emerging Markets Finance and Trade.)

� �Uncertainty and Tourism in Africa." (with Carolyn Chisadza, Matthew W. Clance andPeter Wanke) (Forthcoming in Tourism Economics.)

� �Investor Happiness and Predictability of the Realized Volatility of Oil Price." (with MatteoBonato, Konstantinos Gkillas and Christian Pierdzioch) (Forthcoming in Sustainability.)

� �A Note on Investor Happiness and the Predictability of Realized Volatility of Gold." (withMatteo Bonato, Konstantinos Gkillas and Christian Pierdzioch) (Forthcoming in FinanceResearch Letters.)

� "Housing Market Returns and the Consumption-Dis(Aggregate) Wealth Ratio: Evidence fromU.S. State-Level Data." (with Mehmet Balcilar, Ricardo M. Sousa and Mark E. Wohar)(Forthcoming in International Review of Economics and Finance.)

� �Monetary Policy Uncertainty Spillovers in Time- and Frequency-Domains." (with Chi Ke-ung Marco Lau, Jacobus Nel and Xin Sheng) (Forthcoming in Journal of Economic Struc-tures.)

� "Analysing the Impact of Brexit on Global Uncertainty Using Functional Linear Regressionwith Point of Impact: The Role of Currency and Equity Markets." (with Siphumlile Mangisaand Sonali Das) (Forthcoming in Singapore Economic Review.)

� "E¤ects of Conventional and Unconventional Monetary Policy Shocks on Housing Prices inthe United States: The Role of Sentiment." (with Petre Caraiani, Chi Keung Marco Lau andHardik A. Marfatia) (Forthcoming in Empirical Economics.)

� "Price and Volatility Linkages between International REITs and Oil Markets." (with SabanNazlioglu, N. Alper Gormus and Ugur Soytas) (Forthcoming in Energy Economics.)

� "The Bene�ts of Diversi�cation between Bitcoin, Bonds, Equities and the US Dollar: AMatter of Portfolio Construction." (with Abdulnasser Hatemi-J, Mohamed A. Hajji and ElieBouri) (Forthcoming in Asia-Pac�c Journal of Operational Research.)

� "Trade Uncertainties and the Hedging Abilities of Bitcoin." (with Elie Bouri and KonstantinosGkillas) (Forthcoming in Economic Notes.)

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� "Income Inequality and Economic Growth: A Re-Examination of Theory and Evidence."(with Mehmet Balcilar, Wei Ma and Philton Makena) (Forthcoming in Review of DevelopmentEconomics.)

� "Oil Shocks and Stock Market Volatility of the BRICS: A GARCH-MIDAS Approach." (withAfees A. Salisu) (Forthcoming in Global Finance Journal.)

� �Investor Sentiment and the Dollar-Pound Exchange Rate Returns: Evidence from Over aCentury of Data Using a Cross-Quantilogram Approach." (with Syed Jawad Hussain Shahzad,Clement Kweku Kyei and Eric Olson) (Forthcoming in Finance Research Letters.)

� "A Reconsideration of Kuznets Curve across Countries: Evidence from the Co-summabilityApproach." (with Shinhye Chang, Matthew Clance and Giray Gozgor) (Forthcoming in Jour-nal of Developing Areas.)

� "The Relationship between Economic Uncertainty and Corporate Tax Rates." (with MatthewW. Clance, Giray Gozgor and Chi Keung Marco Lau) (Forthcoming in Annals of FInancialEconomics.)

� "Mortgage Default Risks and High-Frequency Predictability of the US Housing Market: AReconsideration." (with Mehmet Balcilar, Elie Bouri and Mark E. Wohar) (Forthcoming inJournal of Real Estate Portfolio Management.)

� "Testing the White Noise Hypothesis in High-Frequency Housing Returns of the United States."(with Aviral Kumar Tiwari, Juncal Cunado and Xin Sheng) (Forthcoming in Economics andBusiness Letters.)

� "Does Inequality Help in Forecasting Equity Premium in a Panel of G7 Countries?" (withChristina Christou and Fredj Jawadi) (Forthcoming in The North American Journal of Eco-nomics and Finance.)

� �Predicting Firm-Level Volatility in the United States: The Role of Monetary Policy Un-certainty." (with Matthew W. Clance, Riza Demirer and Clement Kyei) (Forthcoming inEconomics and Business Letters.)

� "Forecasting Local Currency Bond Risk Premia of Emerging Markets: The Role of Cross-Country Macro-Financial Linkages." (with Oguzhan Cepni, I. Ethem Guney and M. HasanYilmaz) (Forthcoming in Journal of Forecasting.)

� "The Relationship between Monetary Policy and Uncertainty in Advanced Economies: Ev-idence from Time- and Frequency-Domains." (with Semih Emre Cekin, Besma Hkiri andAviral Kumar Tiwari) (Forthcoming in The Quarterly Review of Economics and Finance.)

� "Spillovers between US Real Estate and Financial Assets in Time and Frequency Domains."(with Aviral Kumar Tiwari and Christophe Andre) (Forthcoming in Journal of PropertyInvestment and Finance.)

� "The Risk Exposures of Safe Havens to Global and Regional Stock Market Shocks: A NovelApproach." (with Mehmet Balcilar, Riza Demirer and Mark E. Wohar) (Forthcoming inStructural Change and Economic Dynamics.)

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� "Moments-Based Spillovers across Gold and Oil Markets." (with Matteo Bonato, Chi KeungMarco Lau and Shixuan Wang) (Forthcoming in Energy Economics.)

� "Monetary Policy, Financial Frictions and Structural Changes: A Markov-Switching DSGEApproach." (with Francis Leni Anguyo and Kevin Kotze) (Forthcoming in Economic Re-search.)

� "The Predictability between Bitcoin and US Technology Stock Returns: Granger Causality inMean, Variance and Quantile." (with Elie Bouri, Chi Keung Marco Lau and David Roubaud)(Forthcoming in Alternative Investments, Volume: Blockchain and Cryptocurrencies, Editedby Andrew Urquhart and Larisa Yarovaya.)

� "High-Frequency Volatility Forecasting of US Housing Markets." (with Mawuli Segnon, Keag-ile Lesame and Mark E. Wohar) (Forthcoming in Journal of Real Estate Finance and Eco-nomics.)

� "Threshold E¤ects of Inequality on Economic Growth in the US States: The Role of HumanCapital to Physical Capital Ratio." (with Oguzhan Cepni and Zhihui Lv) (Forthcoming inApplied Economics Letters.)

� "Gold, Platinum and the Predictability of Bond Risk Premia." (with Elie Bouri, Riza Demirerand Mark E.Wohar) (Forthcoming in Finance Research Letters.)

� "Monetary Policy Uncertainty and Volatility Jumps in Advanced Equity Markets." (with ElieBouri, Konstantinos Gkillas and Clement Kyei) (Forthcoming in Journal of Risk.)

� "Credit Ratings and Predictability of Stock Returns and Volatility of the BRICS and the PI-IGS: Evidence from a Nonparametric Causality-in-Quantiles Approach." (with Mehmet Bal-cilar, Deven Bathia and Riza Demirer) (Forthcoming in The Quarterly Review of Economicsand Finance.)

� "125 Years of Time-Varying E¤ects of Fiscal Policy on Financial Markets." (with HardikA. Marfatia and Stephen M. Miller) (Forthcoming in International Review of Economics andFinance.)

� "Time-Varying Impact ofUncertainty Shocks on Macroeconomic Variables of the United King-dom: Evidence fromOver 150 Years of Montly Data." (with Christina Christou and DavidGabauer) (Forthcoming in Finance Research Letters.)

� "Historical Evolution of Monthly Anomalies in International Stock Markets." (with AlexPlastun, Xolani Sibande and Mark E. Wohar) (Forthcoming in Research in InternationalBusiness and Finance.)

� "The Role of an Aligned Investor Sentiment Index in Predicting Bond Risk Premia of theUnited States." (with Oguzhan Cepni, I. Ethem Guney and Mark E. Wohar) (Forthcomingin Journal of Financial Markets.)

� "How do Housing Returns in Emerging Countries Respond to Oil Shocks? A MIDAS Touch."(with Afees A. Salisu) (Forthcoming in Emerging Markets Finance and Trade.)

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� "Predicting Bitcoin Returns: Comparing the Roles of Newspaper- and Internet Search-BasedMeasures of Uncertainty." (with Elie Bouri) (Forthcoming in Finance Research Letters.)

� "Long-Memory Modeling and Forecasting: Evidence from the U.S. Historical Series of In-�ation." (with Heni Boubaker, Giorgio Canarella and Stephen M. Miller) (Forthcoming inStudies in Nonlinear Dynamics and Econometrics.)

� "Cross-Border Capital Flows and Return Dynamics in Emerging Stock Markets: RelativeRoles of Equity and Debt Flows." (with Deven Bathia, Christos Bouras and Riza Demirer)(Forthcoming in Journal of International Money and Finance.)

� "Forecasting Stock Market (Realized) Volatility in the United Kingdom: Is there a Role forEconomic Inequality?" (with Hossein Hassani, Mohammad Reza Yeganegi and Riza Demirer)(Forthcoming in International Journal of Finance and Economics.)

� "On the Transmission Mechanism of Asia-Paci�c Yield Curve Characteristics." (with SowmyaSubramaniam and David Gabauer) (Forthcoming in International Journal of Finance andEconomics.)

� "The Predictability of Stock Market Volatility in Emerging Economies: Relative Roles of Local,Regional and Global Business Cycles." (with Elie Bouri, Riza Demirer and Xiaojin (Aaron)Sun) (Forthcoming in Journal of Forecasting.)

� "Are Multifractal Processes Suited to Forecasting Electricity Price Volatility? Evidence fromAustralian Intraday Data." (with Mawuli Segnon, Chi Keung Marco Lau and Bernd Wil�ing)(Forthcoming in Studies in Nonlinear Dynamics and Econometrics.)

� "Forecasting Volatility and Co-volatility of Crude Oil and Gold Futures: E¤ects of Lever-age, Jumps, Spillovers, and Geopolitical Risks." (with Manabu Asai and Michael McAleer)(Forthcoming in International Journal of Forecasting.)

� "Forecasting Realized Gold Volatility: Is there a Role of Geopolitical Risks?" (with Konstanti-nos Gkillas and Christian Pierdzioch) (Forthcoming in Finance Research Letters.)

� "E¤ect of Uncertainty on U.S. Stock Returns and Volatility: Evidence from Over Eighty Yearsof High-Frequency Data." (with Hardik A. Marfatia and Eric Olson) (Forthcoming in AppliedEconomics Letters.)

� "Is the Housing Market in the United States Really Weakly-E¢ cient?" (with Aviral KumarTiwari and Mark E. Wohar) (Forthcoming in Applied Economics Letters.)

� "What can Fifty-Two Collateralizable Wealth Measures Tell us about Future Housing MarketReturns? Evidence from U.S. State-Level Data." (with Mehmet Balcilar, Ricardo M. Sousaand Mark E. Wohar) (Forthcoming in Journal of Real Estate Finance and Economics.)

� "Historical Volatility of Advanced Equity Markets: The Role of Local and Global Crises."(with Samrat Goswami and Mark E. Wohar) (Forthcoming in Finance Research Letters.)

� "Why must it always be so Real with Tax Evasion?" (with Philton Makena) (Forthcoming inThe Quarterly Review of Economics and Finance.)

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� "Fisher Variables and Income Inequality in the BRICS." (with Edmond Berisha and JohnMeszaros) (Forthcoming in Economic Modelling.)

� "The Impact of US Uncertainty Shocks on a Panel of Advanced and Emerging Market Economies:The Role of Exchange Rate, Trade and Financial Channels." (with Godwin Olasehinde-Williams and Mark E. Wohar) (Forthcoming in Journal of International Trade and EconomicDevelopment.)

� "Gold-Oil Dependence Dynamics and the Role of Geopolitical Risks: Evidence from a Markov-Switching Time-Varying Copula Model." (with Aviral Kumar Tiwari, Goodness C.Aye andKonstantinos Gkillas) (Forthcoming in Energy Economics.)

� "Forecasting Changes of Economic Inequality: A Boosting Approach." (with Christian Pierdzioch,Hossein Hassani and Emmanuel Silva) (Forthcoming in The Social Science Journal.)

� "Bayesian Spatial Modeling for Housing Data in South Africa." (with Bingling Wang andSudipto Banerjee) (Forthcoming in Sankhya B.)

� "Forecasting the Term Structure of Interest Rates of the BRICS: Evidence from a Nonpara-metric Functional Data Analysis." (with Joao F. Caldeira, Tahir Suleman and Hudson S.Torrent) (Forthcoming in Emerging Markets Finance and Trade.)

� "Forecasting Equity Premium in a Panel of OECD Countries: The Role of Economic PolicyUncertainty." (with Christina Christou) (Forthcoming in The Quarterly Review of Economicsand Finance.)

� "Monetary Policy and Bubbles in US REITs." (with Petre Caraiani and Adrian CantemirCalin) (Forthcoming in International Review of Finance.)

� "Time-Varying Risk Aversion and the Predictability of Bond Premia." (with Oguzhan Cepni,Riza Demirer and Christian Pierdzioch) (Forthcoming in Finance Research Letters.)

� "Jumps Beyond the Realms of Cricket: India�s Performance in One Day Internationals andStock Market Movements." (with Konstantinos Gkillas, Chi Keung Marco Lau and TahirSuleman) (Forthcoming in Journal of Applied Statistics.)

� "Variants of Consumption-Wealth Ratios and Predictaility of U.S. Government Bond RiskPremia: Old is still Gold." (with Oguzhan Cepni and Mark E. Wohar) (Forthcoming inInternational Review of Finance.)

� "Measuring Co-Dependencies of Economic Policy Uncertainty in Latin American Countriesusing Vine Copulas." (with Semih Emre Cekin, Ashis Kumar Pradhan and Aviral KumarTiwari) (Forthcoming in The Quarterly Review of Economics and Finance.)

� "Local Currency Bond Risk Premia of Emerging Markets: The Role of Local and GlobalFactors." (with Oguzhan Cepni and Selcuk Gul) (Forthcoming in Finance Research Letters.)

� "Persistence and Cyclical Dynamics of US and UK House Prices: Evidence from Over 150Years of Data." (with Giorgio Canarella, Luis A. Gil-Alana and Stephen M. Miller) (Forth-coming in Urban Studies.)

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� "Forecasting Interest Rate Volatility of the United Kingdom: Evidence from over 150 Years ofData." (with Hossein Hassani, Mohammad Reza Yeganegi and Juncal Cunado) (Forthcomingin Journal of Applied Statistics.)

� "Asymmetric E¤ects of Inequality on Per Capita Real GDP of the United States." (with Ad-nen Ben Nasr, Mehmet Balcilar, and Seyi Saint Akadiri) (Forthcoming in Eurasian EconomicReview.)

� "In�ation Dynamics in Uganda: A Quantile Regression Approach." (with Francis Leni An-guyo and Kevin Kotze) (Forthcoming in Macroeconomics and Finance in Emerging MarketEconomies.)

� "Forecasting with Second-Order Approximations and Markov Switching DSGE Models." (withSergey Ivashchenko, Semih Emre Cekin and Kevin Kotze) (Forthcoming in ComputationalEconomics.)

� "Uncertainty and Forecasts of U.S. Recessions." (with Christian Pierdzioch) (Forthcomingin Studies in Nonlinear Dynamics and Econometrics.)

� "Frequency-Dependent Real-Time E¤ects of Uncertainty in the United States: Evidence fromDaily Data." (with Yanele Nyamela and Vasilios Plakandaras) (Forthcoming in Applied Eco-nomics Letters.)

� "Forecasting Core In�ation: The Case of South Africa." (with Franz Ruch, Mehmet Balcilarand Mampho P. Modise) (Forthcoming in Applied Economics.)

� "Time-Varying Impact of Geopolitical Risks on Oil Prices." (with Juncal Cunado, Chi KeungMarco Lau and Xin Sheng) (Forthcoming in Defense and Peace Economics.)

� "Predicting Stock Market Movements in the United States: The Role of Presidential ApprovalRatings." (with Patrick T. Kanda and Mark E. Wohar) (Forthcoming in International Reviewof Finance.)

� "Conventional and Unconventional Monetary Policy Reaction to Uncertainty in AdvancedEconomies: Evidence from Quantile Regressions." (with Christina Christou and RuthiraNaraidoo) (Forthcoming in Studies in Nonlinear Dynamics and Econometrics.)

� "Monetary Policy and Financial Frictions in a Small Open-Economy Model for Uganda."(with Francis Leni Anguyo and Kevin Kotze) (Forthcoming in Empirical Economics.)

� "Insurance-Growth Nexus in Africa." (with Mehmet Balcilar, Chien-Chiang Lee and GodwinOlasehinde-Williams) (Forthcoming in The Geneva Papers on Risk and Insurance - Issuesand Practice.)

� "Causality between Output and Income Inequality across US States: Evidence from a Het-erogeneous Mixed Panel Approach." (with Shinhye Chang, Hsiao-Ping Chu and Stephen M.Miller) (Forthcoming in Journal of Income Distribution.)

� "The Stock-Bond Nexus and Investors� Behavior in Mature and Emerging Markets: Evi-dence from Long-Term Historical Data." (with Refk Selmi, Christos Kollias and StephanosPapadamou) (Forthcoming in Studies in Economics and Finance.)

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� "Spillover of Sentiment in the European Union: Evidence from Time- and Frequency-Domains."(with Vasilios Plakandaras, Aviral Kumar Tiwari and Qiang Ji) (Published in InternationalReview of Economics and Finance, Vol. 68(1), 2020, 105-130.)

� "Housing Market Spillovers in South Africa: Evidence from an Estimated Small Open Econ-omy DSGE Model." (with Xiaojin Sun) (Published in Empirical Economics, Vol. 58(5), 2020,2309-2332.)

� "Time-Varying Role of Macroeconomic Shocks on House Prices in the US and UK: Evidencefrom Over 150 Years of Data." (with Vasilios Plakandaras, Constantinos Katrakilidis andMark E. Wohar) (Published in Empirical Economics, Vol. 58(5), 2020, 2249-2285.)

� "The Time-Series Linkages between US Fiscal Poliy and Asset Prices." (with Ghassen ElMontasser, Charl Jooste and Stephen M. Miller) (Published in Public Finance Review, Vol.48(3), 2020, 303-339.)

� "Movements in International Bond Markets: The Role of Oil Prices." (with Saban Nazliogluand Elie Bouri) (Published in International Review of Economics and Finance, Vol. 68(1),2020, 47-58.)

� "Forecasting Realized Oil-Price Volatility: The Role of Financial Stress and AsymmetricLoss." (with Konstantinos Gkillas and Christian Pierdzioch) (Published in Journal of In-ternational Money and Finance, Vol. 104(1), 2020, 102137.)

� "Modeling U.S. Historical Time-Series Prices and In�ation Using Various Linear and Non-linear Long-Memory Approaches." (with Giorgio Canarella, Luis A. Gil-Alana and StephenM. Miller) (Published in Empirical Economics, Vol. 58(4), 2020, 1491-1511.)

� "Are Uncertainties across the World Convergent?" (with Christina Christou, Giray Gozgorand Chi Keung Marco Lau) (Published in Economics Bulletin, Vol. 40(1), 2020, 855-862.)

� �Jumps in Energy and Non-Energy Commodities." (with Elie Bouri) (Published in OPECEnergy Review, Vol 44(1), 2020, 91-111.)

� "Growth Dynamics, Multiple Equilibria, and Local Indeterminancy in an Endogenous GrowthModel of Money, Banking and In�ation Targeting." (with Philton Makena) (Published inEconomies, Vol. 8(1), 2020, 22.)

� "Halloween E¤ect in Developed Stock Markets: A US Perspective." (with Alex Plastun,Xolani Sibande and Mark E. Wohar) (Published in International Economics, Vol. 161(1),2020, 130-138.)

� "Price Gap Anomaly in the US Stock Market: The Whole Story." (with Alex Plastun, XolaniSibande and Mark E. Wohar) (Published in The North American Journal of Economics andFinance, Vol. 52(1), 2020, 101177.)

� "Time-Varying Risk Aversion and the Pro�tability of Carry Trades: Evidence from the Cross-Quantilogram." (with Riza Demirer, Hossein Hassani and Xu Huang) (Published in Economies,Vol. 8(1), 2020, 18.)

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� "Dynamic and Asymmetric Response of Inequality to Income Volatility: The Case of theUnited Kingdom." (with Goodness C. Aye and Giray Gozgor) (Published in Social IndicatorsResearch, Vol. 147(3), 2020, 747-762.)

� "Predicting Aggregate and State-Level US House Price Volatility: The Role of Sentiment."(with Chi Keung Marco Lau and Wendy Nyakabawo) (Published in Journal of Reviews onGlobal Economics, Vol. 9(1), 2020, 30-46.)

� "Oil Price Uncertainty and Movements in the US Government Bond Risk Premia." (withMehmet Balcilar, Shixuan Wang and Mark E.Wohar) (Published in North American Journalof Economics and Finance, Vol. 52(1), 2020, 101147.)

� "Do Bivariate Multifractal Models Improve Volatility Forecasting in Financial Time Series?An Application to Foreign Exchange and Stock Markets." (with Ruipeng Liu, Riza Demirerand Mark E. Wohar) (Published in Journal of Forecasting, Vol. 39(2), 2020, 155-167.)

� "Predicting International Equity Returns: Evidence from Time-Varying Parameter VectorAutoregressive Models." (with Florian Huber and Philipp Piribauer) (Published in Interna-tional Review of Financial Analysis, Vol. 68(1), 2020, 101456.)

� "Is the Response of the Bank of England to Exchange Rate Movements Frequency-Dependent?"(with Petre Caraiani) (Published in Journal of Macroeconomics, Vol. 63(1), 2020, 103187.)

� "Global Crises and Gold as a Safe Haven: Evidence from Over Seven and a Half Centuries ofData." (with Heni Boubaker, Juncal Cunado and Luis A. Gil-Alana) (Published in PhysicaA: Statistical Mechanics and its Applications, Vol. 540(1), 2020, 123093.)

� "Forecasting Output Growth using a DSGE-Based Decomposition of the South African YieldCurve." (with Hylton Hollander and Rudi Steinbach) (Published in Empirical Economics,Special Issue: Economic Forecasting, Vol. 58(1), 2020, 351-378.)

� "Oil Shocks and Volatility Jumps." (with Konstantinos Gkillas and Mark E. Wohar) (Pub-lished in Review of Quantitative Finance and Accounting, Vol. 54(1), 2020, 247-272.)

� "Does U.K.�s Real GDP have a Unit Root? Evidence from a Multi-Century Perspective."(with Giorgio Canarella, Stephen M. Miller and Tolga Omay) (Published in Applied Eco-nomics, Vol. 52(10), 2020, 1070-1087.)

� "Forecasting Economics Policy Uncertainty of BRIC Countries Using Bayesian VARs." (withXiaojin Sun) (Published in Economics Letters, Vol. 186(1), 2020, 108677.)

� "The Role of Real Estate Uncertainty in Predicting US Home Sales Growth: Evidence from aQuantiles-Based Bayesian Model Averaging Approach." (with Oguzhan Cepni and Mark E.Wohar) (Published in Applied Economics, Vol. 52(5), 2020, 528-536.)

� "Does Trading Behaviour Converge across Commodity Markets? Evidence from the Perspec-tive of Hedgers�Sentiment." (with Qiang Ji, Walid Bahloul and Jiang-bo Geng) (Publishedin Research in International Business and Finance, Vol. 52(1), 2020, 101114.)

� "Graph Theory-Based Network Analysis of Regional Uncertainties of the US Economy." (withChi Keung Marco Lau and Xin Sheng) (Published in Physica A: Statistical Mechanics andits Applications, Vol. 540(1), 2020, 123064.)

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� "Spillovers across Macroeconomic, Financial and Real Estate Uncertainties: A Time-VaryingApproach." (with David Gabauer) (Published in Structural Change and Economic Dynamics,Vol. 52(1), 2020, 167-173.)

� "Is Real Per Capita State Personal Income Stationary? New Nonlinear, Asymmetric Panel-Data Evidence." (with Furkan Emirmahmutoglu, Stephen M. Miller and Tolga Omay) (Pub-lished in Bulletin of Economic Research, Vol. 72(1), 2020, 50-62.)

� "The E¤ectiveness of Monetary Policy in South Africa under In�ation Targeting: Evidencefrom a Time-Varying Factor-Augmented Vector Autoregressive Model." (with Goodness C.Aye and Mehmet Balcilar) (Published in Journal of Developing Areas, Vol. 54(4), 2020,55-74.)

� "Risk Spillover between the US and the Remaining G7 Stock Markets Using Time-VaryingCopulas with Markov Switching: Evidence from Over a Century of Data." (with Qiang Ji,Bing-Yue Liu and Juncal Cunado) (Published in North American Journal of Economics andFinance, Vol. 51(1), 2020, 100846.)

� "U.S. Fiscal Policy and Asset Prices: The Role of Partisan Con�ict." (with Chi KeungMarco Lau, Stephen M. Miller and Mark E. Wohar) (Published in International Review ofFinance, Vol. 19(4), 2019, 851-862.)

� "E¤ects of Geopolitical Risks on Trade Flows: Evidence from the Gravity Model." (with EnderDemir, Giray Gozgor and Huseyin Kaya) (Published in Eurasian Economic Review, Vol. 9(4),2019, 515-530.)

� "Asymmetric Dynamics of Insurance Premium: The Impacts of Output and Economic PolicyUncertainty." (with Amine Lahiani, Chi-Chuan Lee and Chien-Chiang Lee) (Published inEmpirical Economics, Vol. 57(6), 2019, 1951-1978.)

� "Does Financial Development A¤ect Income Inequality in the U.S. States? A Panel DataAnalysis." (with Manoel Bittencourt, Shinhye Chang and Stephen M. Miller) (Published inJournal of Policy Modeling, Vol. 41(6), 2019, 1043-1056.)

� "OPEC News Announcement E¤ect on Volatility in the Crude Oil Market: A Reconsidera-tion." (with Chi Keung Marco Lau and Seong-Min Yoon) (Published in Advances in DecisionSciences, Vol. 23(4), 2019, 1-22.)

� "Greek Economic Policy Uncertainty: Does it Matter for the European Union?" (with Niko-laos Antonakakis and David Gabauer) (Published in Physica A: Statistical Mechanics and itsApplications, Vol. 535(1), 2019, 122280.)

� "In�ation Aversion and the Growth-In�ation Relationship." (with Philton Makena) (Pub-lished in Annals of Economics and Finance, Vol. 20(2), 2019, 803-815.)

� "The Term Premium as a Leading Macroeconomic Indicator." (with Vasilios Plakandaras,Perikilis Gogas and Theophilos Papadimitriou) (Published in International Review of Eco-nomics and Finance, Vol. 64(1), 2019, 476-492.)

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� "Time-Frequency Relationship between In�ation and In�ation Uncertainty for the U.S.: Ev-idence from Historical Data." (with Claudiu T. Albulescu, Aviral K. Tiwari and Stephen M.Miller) (Published in Scottish Journal of Political Economy, Vol. 66(5), 2019, 673-702.)

� "Time-Varying Risk Aversion and Realized Gold Volatility." (with Riza Demirer, Konstanti-nos Gkillas and Christian Pierdzioch) (Published in North American Journal of Economicsand Finance, Vol. 50(1), 2019, 101048.)

� "Forecasting (Downside and Upside) Realized Exchange-Rate Volatility: Is there a Role for Re-alized Skewness and Kurtosis?" (with Konstantinos Gkillas and Christian Pierdzioch) (Pub-lished in Physica A: Statistical Mechanics and its Applications, Vol. 532(1), 2019, 121867.)

� "Time-Varying Predictability of Oil Market Movements Over a Century of Data: The Roleof US Financial Stress." (with Patrick T. Kanda, Aviral Kumar Tiwari and Mark E. Wohar)(Published in North American Journal of Economics and Finance, Vol. 50(1), 2019, 100994.)

� "International Monetary Policy Spillovers: Evidence from a TVP-VAR." (with Nikolaos An-tonakakis and David Gabauer) (Published in International Review of Financial Ananlysis,Vol. 65(1), 2019, 101382.)

� "Does Inequality Really Matter in Forecasting Real Housing Returns of the United King-dom?" (with Hossein Hassani and Mohammad Reza Yeganegi) (Published in InternationalEconomics, Vol. 159(1), 2019, 18-25.)

� "A Note on the Technology Herd: Evidence from Large Institutional Investors." (with JosineUwilingiye, Esin Cakan and Riza Demirer) (Published in Review of Behavioral Finance, Vol.11(3), 2019, 294-308.)

� "The Impact of Jumps and Leverage in Forecasting the Co-Volatility of Oil and Gold Futures."(with Manabu Asai and Michael McAleer) (Published in Energies, Vol. 12(17), 2019, 3379.)

� "On REIT Returns and (Un-)Expected In�ation: Empirical Evidence Based on BayesianAdditive Regression Trees." (with Christian Pierdzioch, Marian Risse and Wendy Nyakabawo)(Published in Finance Research Letters, Vol. 30(1), 2019, 160-169.)

� "Are there Really Long-Run Diversi�cation Bene�ts from Sustainable Investments?" (withNicholas Apergis, Vassilios Babalos and Christina Christou) (Published in International Jour-nal of Business and Economics, Vol. 18(2), 2019, 141-163.)

� "Geopolitical Risks and the Predictability of Regional Oil Returns and Volatility." (with RizaDemirer, Qiang Ji and Aviral Kumar Tiwari) (Published in OPEC Energy Review, Vol. 43(3),342-361.)

� "Volatility Spillovers between Interest Rates and Equity Markets of Developed Economies."(with Wilson Donzwa and Mark E. Wohar) (Published in Journal of Central Banking Theoryand Practice, Vol. 8(3), 39-50.)

� "Macroeconomic Uncertainty and the Comovement in Buying versus Renting in the UnitedStates." (with Goodness C. Aye) (Published in Advances in Decision Sciences, Vol. 23(3),2019, 1-28.)

12

� "The Role of Monetary Policy Uncertainty in Predicting Equity Market Volatility of the UnitedKingdom: Evidence from over 150 Years of Data." (with Mark E. Wohar) (Published inEconomics and Business Letters, Vol. 8(3), 2019, 138-146.)

� "The E¤ect of Global Crises on Stock Market Correlations: Evidence from Scalar Regressionsvia Functional Data Analysis." (with Sonali Das, Riza Demirer and Siphumlile Mangisa)(Forthcoming in Structural Change and Economic Dynamics, Vol. 50(1), 2019, 132-147.)

� "Oil Price-In�ation Pass-Through in the United States over 1871 to 2018: A Wavelet Co-herency Analysis." (with Aviral Kumar Tiwari, Juncal Cunado and Abdulnasser Hatemi-J)(Published in Structural Change and Economic Dynamics, Vol. 50(1), 2019, 51-55.)

� "The Role of Housing Sentiment in Forecasting US Home Sales Growth: Evidence from aBayesian Compressed Vector Autoregressive Model." (with Chi Keung Marco Lau, VasiliosPlakandaras and Wing-Keung Wong) (Published in Economic Research, Vol. 32(1), 2019,2554-2567.)

� "Insurance Activity and Economic Performance: Fresh Evidence from Asymmetric PanelCausality Tests." (with Abdulnasser Hatemi-J, Chi-Chuan Lee and Chien-Chiang Lee) (Pub-lished in International Finance, Vol. 22(2), 2019, 221-240.)

� "Persistence of Economic Uncertainty: A Comprehensive Analysis." (with Vasilios Plakan-daras and Mark E. Wohar) (Published in Applied Economics, Vol. 51(41), 2019, 4477-4498.)

� "Geopolitical Risks and Recessions in a Panel of Advanced Economies: Evidence from Overa Century of Data." (with Matthew W. Clance and Mark E. Wohar) (Published in AppliedEconomics Letters, Vol. 26(16), 2019, 1317-1321.)

� "Geopolitical Risks, Returns and Volatility in Emerging Stock Markets: Evidence from a PanelGARCH Model." (with Christos Bouras, Christina Christou and Tahir Suleman) (Publishedin Emerging Markets Finance and Trade, Vol. 55(8), 2019, 1841-1856.)

� "Point and Density Forecasts of Oil Returns: The Role of Geopolitical Risks." (with VasiliosPlakandaras and Wing-Keung Wong) (Published in Resources Policy, Vol. 62(1), 2019, 580-587.)

� "Are BRICS Exchange Rates Chaotic?" (with Vasilios Plakandaras, Luis A. Gil-Alana andMark E. Wohar) (Published in Applied Economics Letters, Vol. 26(13), 2019, 1104-1110.)

� "The Role of Time-Varying Rare Disaster Risks in Predicting Bond Returns and Volatility."(with Tahir Suleman and Mark E. Wohar) (Published in Review of Financial Economics, Vol.37(3), 2019, 327-340.)

� "Rise and Fall of Calendar Anomalies over a Century." (with Alex Plastun, Xolani Sibandeand Mark E. Wohar) (Published in North American Journal of Economics and Finance, Vol.49(1), 2019, 181-205.)

� "Time-Varying Impact of Uncertainty Shocks on the US Housing Market." (with ChristinaChristou and Wendy Nyakabawo) (Published in Economics Letters, Vol. 180(1), 2019, 15-20.)

13

� "Is There a Role for Uncertainty in Forecasting Output Growth in OECD Countries? Evidencefrom a Time Varying Parameter-Panel Vector Autoregressive Model." (with Goodness C. Aye,Chi Keung Marco Lau and Xin Sheng) (Published in Applied Economics, Vol. 51(33), 2019,3624-3631.)

� "Geopolitical Risks and Movements in Islamic Bond and Equity Markets: A Note." (with ElieBouri, Riza Demirer and Hardik A. Marfatia) (Published in Defence and Peace Economics,Vol. 30(3), 2019, 367-379.)

� "The Predictive Value of Inequality Measures for Stock Returns: An Analysis of Long-SpanUK Data Using Quantile Random Forests." (with Christian Pierdzioch, Andrew J. Vivianand Mark E. Wohar) (Published in Finance Research Letters, Vol. 29(1), 2019, 315-322.)

� "Herding Behaviour in the Cryptocurrency Market." (with Elie Bouri and David Roubaud)(Published in Finance Research Letters, Vol. 29(1), 2019, 216-221.)

� "Presidential Cycles in the United States and the Dollar-Pound Exchange Rate: Evidencefrom over Two Centuries of Data." (with Mark E. Wohar) (Published in Advances in DecisionSciences, Vol. 23(2), 2019, 1-12.)

� "Price Convergence Patterns across U.S. States." (with Christina Christou and Juncal Cu-nado) (Published in Panoeconomicus, Vol. 66(2), 2019, 187-201.)

� "Are Stock Returns an In�ation Hedge for the UK? Evidence from a Wavelet Analysis UsingOver Three Centuries of Data." (with Aviral Kumar Tiwari, Juncal Cunado and Mark E.Wohar) (Published in Studies in Nonlinear Dynamics and Econometrics, Vol. 23(3), 2019,20170049.)

� "The E¤ectiveness of Monetary and Fiscal Policy Shocks on U.S. Inequality: The Role ofUncertainty." (with Goodness C. Aye and Matthew W. Clance) (Published in Quality andQuantity, Vol. 53(1), 2019, 283-295.)

� "Productive E¢ ciency of Connecticut Long Island Lobster Fishery Using a Finite MixtureModel." (with Zinnia Mukherjee, Mike G. Tsionas and Peter Wanke) (Published in MarineResource Economics, Vol. 34(3), 2019, 267�285.)

� "Kuznets Curve for the US: A Reconsideration Using Cosummability." (with Adnen BenNasr, Mehmet Balcilar and Seyi Saint Akadiri) (Published in Social Indicators Research, Vol.142(1), 2019, 827-843.)

� "The E¤ect of Economic Uncertainty on the Housing Market Cycle." (with Goodness C. Ayeand Matthew W. Clance) (Published in Journal of Real Estate Portfolio Management, Vol.25(1), 2019, 67-75.)

� "Revisiting the Twin De�cits Hypothesis: A Quantile Cointegration Analysis over the Pe-riod of 1791-2013." (with Nikolaos Antonakakis, Juncal Cunado and Mawuli K. Segnon)(Published in Journal of Applied Economics, Vol. 22(1), 2019, 116-130.)

� "Macroeconomic Shocks and Changing Dynamics of the U.S. REITs Sector." (with Zhihui Lvand Wing-Keung Wong) (Published in Sustainability, Special Issue: Sustainability of the The-ories Developed by Mathematical Finance and Mathematical Economics with Applications,Vol. 11, 2019, 2776.)

14

� "On the Predictability of Stock Market Bubbles: Evidence from LPPLS Con�denceTM Multi-scale Indicators." (with Riza Demirer, Guilherme Demos and Didier Sornette) (Forthcomingin Quantitative Finance, Vol. 19(5), 2019, 843-858.)

� "The Impact of US Uncertainty on the Euro Area in Good and Bad Times: Evidence from aQuantile Structural Vector Autoregressive Model." (with Chi Keung Marco Lau and Mark E.Wohar) (Published in Empirica, Vol. 46(2), 2019, 353-368.)

� "The Impact of Oil Shocks in a Small Open Economy New-Keynesian Dynamic StochasticGeneral Equilibrium Model for South Africa." (with Hylton Hollander and Mark E. Wohar)(Published in Emerging Markets Finance and Trade, Vol. 55(7), 2019, 1593-1618.)

� "Price Jumps in Developed Stock Markets: The Role of Monetary Policy Committee Meet-ings." (with Chi Keung Marco Lau, Ruipeng Liu and Hardik A. Marfatia) (Published inJournal of Economics and Finance, Vol. 43(2), 2019, 298-312.)

� "Economic Policy Uncertainty and Herding Behavior: Evidence from the South African Hous-ing Market." (with Esin Cakan, Riza Demirer and Josine Uwilingiye) (Published in Advancesin Decision Sciences, Vol. 23(1), 2019, 1-25.)

� "A Time-Varying Approach of the US Welfare Cost of In�ation." (with Stephen M. Millerand Luis F. Martins) (Published in Macroeconomic Dynamics, Vol. 23(2), 2019, 775-797.)

� "Growth Volatility and Inequality in the U.S.: A Wavelet Analysis." (with Shinhye Chang,Stephen M. Miller and Mark E. Wohar) (Published in Physica A: Statistical Mechanics andits Applications, Vol. 521(1), 2019, 48-73.)

� "Stock Market E¢ ciency Analysis using Long Spans of Data: A Multifractal Detrended Fluc-tuation Approach." (with Aviral Kumar Tiwari and Goodness C. Aye) (Published in FinanceResearch Letters, Vol. 28(1), 2019, 398-411.)

� "E¢ ciency in BRICS Currency Markets using Long-Spans of Data: Evidence from Model-Free Tests of Directional Predictability." (with Vasilios Plakandaras) (Published in Journalof Economics and Behavioral Studies, Vol. 11(1), 2019, 152-165.)

� "Long-Run Movement and Predictability of Bond Spread for BRICS and PIIGS: The Roleof Economic, Financial and Political Risks." (with Sheung-Chi Chow, Tahir Suleman andWing-Keung Wong) (Published in Journal of Reviews on Global Economics, Vol. 8(1), 2019,239-257.)

� "Partisan Con�ict and Income Distribution in the United States: A Nonparametric Causality-in-Quantiles Approach." (with Mehmet Balcilar, Seyi Saint Akadiri and Stephen M. Miller)(Published in Social Indicators Research, Vol. 142(1), 2019, 65-82.)

� "Spillover of Mortgage Default Risks in the United States: Evidence from Metropolitan Statis-tical Areas and States." (with Qiang Ji, Festus Victor Bekun and Mehmet Balcilar) (Publishedin Journal of Economic Asymmetries, Vol. 19(1), 2019, e00114.)

� "Time-Varying Causal Relationship between Stock Market and Unemployment in the UnitedKingdom: Historical Evidence from 1855 to 2017." (with Xolani Sibande and Mark E. Wohar)(Published in Journal of Multinational Financial Management, Vol. 49(1), 2019, 81-88.)

15

� "A Wavelet Analysis of the Relationship between Oil and Natural Gas Prices." (with AviralKumar Tiwari, Zinnia Mukherjee and Mehmet Balcilar) (Published in Resources Policy, Vol.60(1), 2019, 118-124.)

� "Modelling Long Memory Volatility in the Bitcoin Market: Evidence of Persistence and Struc-tural Breaks." (with Elie Bouri, Luis A. Gil-Alana and David Roubaud) (Published in Inter-national Journal of Finance and Economics, Vol. 24(1), 2019, 412-426.)

� "Unemployment Rate Hysteresis and the Great Recession: Exploring the Metropolitan Evi-dence." (with Giorgio Canarella, Stephen M. Miller and Stephen K. Pollard) (Published inEmpirical Economics, Vol. 56(1), 2019, 61-79.)

� "Equity Return Dispersion and Stock Market Volatility: Evidence from Multivariate Lin-ear and Nonlinear Causality Tests." (with Riza Demirer, Zhihui Lv and Wing-Keung Wong)(Published in Sustainability, Special Issue: Sustainability of the Theories Developed by Math-ematical Finance and Mathematical Economics with Applications, Vol. 11, 2019, 351.)

� "Manager Sentiment and Stock Market Volatility." (Published in Journal of ManagementInformation and Decision Sciences, Vol. 22(1), 2019, 10-20.)

� "The Role of Term Spread and Pattern Changes in Predicting Stock Returns and Volatility ofthe United Kingdom: Evidence from a Nonparametric Causality-in-Quantiles Test Using Over250 Years of Data." (with Marian Risse, David A. Volkman and Mark E. Wohar) (Publishedin North American Journal of Economics and Finance, Vol. 47(1), 2019, 391-405.)

� "Does Global Economic Uncertainty Matter for the Volatility and Hedging E¤ectiveness ofBitcoin?" (with Libing Fang, Elie Bouri and David Roubaud) (Published in InternationalReview of Financial Analysis, Vol. 61(1), 2019, 29-36.)

� "Chaos in G7 Stock Markets using Over One Century of Data: A Note." (with Aviral KumarTiwari) (Published in Research in International Business and Finance, Vol. 47(1), 2019, 304-310.)

� "Predicting Stock Market Movements with a Time-Varying Consumption-Aggregate WealthRatio." (with Tsangyao Chang, Anandamayee Majumdar and Christian Pierdzioch) (Pub-lished in International Review of Economics and Finance, Vol. 59(1), 2019, 458-467.)

� "The Role of Domestic and Global Economic Policy Uncertainties in Predicting Stock Returnsand their Volatility for Hong Kong, Malaysia and South Korea: Evidence from a Nonparamet-ric Causality-in-Quantiles Approach." (with Mehmet Balcilar, Won Joong Kim and ClementKyei) (Published in International Review of Economics and Finance, Vol. 59(1), 2019, 150-163.)

� "Oil Price Volatility and Economic Growth: Evidence from Advanced OECD Countries usingover One Century of Data." (with Mamothoana Difeto, Renee van Eyden and Mark E.Wohar) (Published in Applied Energy, Vol. 233-234(1), 2019, 612-621.)

� "Persistence in Trends and Cycles of Gold and Silver Prices: Evidence from Historical Data."(with Juncal Cunado and Luis A. Gil-Alana) (Published in Physica A: Statistical Mechanicsand its Applications, Vol. 514(1), 2019, 345-354.)

16

� "Exchange Rate Returns and Volatility: The Role of Time-Varying Rare Disaster Risks."(with Tahir Suleman and Mark E. Wohar) (Published in The European Journal of Finance,Vol. 25(2), 2019, 190-203.)

� "The Impact of Macroeconomic News Surprises and Uncertainty of Major Economies onReturns and Volatility of Oil Futures." (with Walid Bahloul) (Published in InternationalEconomics, Vol. 156(1), 2019, 247-253.)

� "Forecasting the Probability of Recessions in South Africa: The Role of Decomposed Term-Spread and Economic Policy Uncertainty." (with Goodness C. Aye, Christina Christou andLuis A. Gil-Alana) (Published in The Journal of International Development, Vol. 31(1), 2019,101-116.)

� "Oil Speculation and Herding Behavior in Emerging Stock Markets." (with Esin Cakan, RizaDemirer and Hardik A. Marfatia) (Published in Journal of Economics and Finance, Vol.43(1), 2019, 44-56.)

� "Persistence, Mean Reversion and Nonlinearities in In�ation Rates of Developed and Devel-oping Countries Using Over One Century of Data." (with Luis A. Gil-Alana) (Published inThe Manchester School, Vol. 87(1), 2019, 24-36.)

� "Are Housing Price Cycles Asymmetric? Evidence from the US States and MetropolitanAreas." (with Christophe Andre and John W. Muteba Mwamba) (Published in InternationalJournal of Strategic Property Management, Vol. 23(1), 2019, 1-22.)

� "Political Cycles in the United States and Stock Market Volatility in other Advanced Economies:An EGARCH Approach." (with Akhona Myataza) (Published in Journal of Applied EconomicSciences, Vol. XIII(7(61)), 2018, 2122-2132.)

� "Monetary Policy Reaction Functions of the TICKs: A Quantile Regression Approach." (withChristina Christou, Ruthira Naraidoo and Won Joong Kim) (Published in Emerging MarketsFinance and Trade, Vol. 54(15), 2018, 3552-3565.)

� "High-Frequency Impact of Monetary Policy and Macroeconomic Surprises on US MSAs andAggregate US Housing Returns and Volatility: A GJR-GARCH Approach." (with WendyNyakabawo and Hardik A. Marfatia) (Published in Advances in Decision Sciences, 22nd An-niversary Special Issue, Vol. 22(A), 2018, 1-25.)

� "Is Wine a Safe-Haven? Evidence from a Nonparametric Causality-in-Quantiles Test." (withNikolaos Antonakakis, Mehmet Balcilar and Elie Bouri) (Published in Advances in DecisionSciences, 22nd Anniversary Special Issue, Vol. 22(A), 2018, 1-19.)

� "Investor Sentiment and Crash Risk in Safe Havens." (with Adnen Ben Nasr, Matteo Bonatoand Riza Demirer) (Published in Journal of Economics and Behavioral Studies, Vol. 10(6A),2018, 97-108.)

� "Volatility Jumps: The Role of Geopolitical Risks." (with Konstantinos Gkillas and Mark E.Wohar) (Published in Finance Research Letters, Vol. 27(1), 2018, 247-258.)

17

� "The Synergistic E¤ect of Insurance and Banking Sector Activities on Economic Growthin Africa." (with Mehmet Balcilar, Chien-Chiang Lee and Godwin Olasehinde-Williams)(Published in Economic Systems, Vol. 42(4), 2018, 637-648.)

� "News Implied Volatility and the Stock-Bond Nexus: Evidence from Historical Date for theUSA and the UK Markets." (with Christos Kollias, Stephanos Papadamou and Mark E.Wohar) (Published in Journal of Multinational Financial Management, Vol. 47-48(1), 2018,76-90.)

� "Market E¢ ciency of Baltic Stock Markets: A Fractional Integration Approach." (with LuisA. Gil-Alana, Olanrewaju I. Shittu and OlaOluwa S. Yaya) (Published in Physica A: Statis-tical Mechanics and its Applications, Vol. 511(1), 2018, 251-262.)

� "Does Geopolitical Risks Predict Stock Returns and Volatility of Leading Defense Companies?Evidence from a Nonparametric Approach." (with Nicholas Apergis, Matteo Bonato andClement Kyei) (Published in Defense and Peace Economics, Vol. 29(6), 2018, 684-696.)

� "Spillovers between Bitcoin and other Assets during Bear and Bull Markets." (with Elie Bouri,Mahamitra Das and David Roubaud) (Published in Applied Economics, Vol. 50(55), 2018,5935-5949.)

� "Causal E¤ects of the United States and Japan on Paci�c-Rim Stock Markets: NonparametricQuantile Causality Approach." (with Mehmet Balcilar, Duc K. Nguyen and Mark E. Wohar)(Published in Applied Economics, Vol. 50(53), 2018, 5712-5727.)

� "Firm-Level Political Risk and Asymmetric Volatility." (with Goodness C. Aye, MehmetBalcilar and Riza Demirer) (Published in Journal of Economic Asymmetries, Vol. 18(1),2018, e00110.)

� "The Role of Economic Uncertainty in Forecasting Exchange Rate Returns and RealizedVolatility: Evidence from Quantile Predictive Regressions." (with Christina Christou, Chris-tis Hassapis and Tahir Suleman) (Published in Journal of Forecasting, Vol. 37(7), 2018,705-719.)

� "Information Spillover across International Real Estate Investment Trusts: Evidence froman Entropy-Based Network Analysis." (with Qiang Ji and Hardik A. Marfatia) (Published inNorth American Journal of Economics and Finance, Vol. 46(1), 2018, 103-113.)

� "The Relationship between Healthcare Expenditures and Disposable Personal Income in theUS States: A Fractional Integration and Cointegration Analysis." (with Guglielmo MariaCaporale, Juncal Cunado and Luis A. Gil-Alana) (Published in Empirical Economics, Vol.55(3), 2018, 913-935.)

� "Predicting Global Temperature Anomaly: A De�nitive Investigation Using an Ensemble ofTwelve Forecasting Models." (with Hossein Hassani, Emmanuel Sirimal Silva and Sonali Das)(Published in Physica A: Statistical Mechanics and its Applications, Vol. 509(1), 2018, 121-139.)

� "Time-Varying Correlations between Trade Balance and Stock Prices in the United Statesover the Period 1792 to 2013." (with Nikolaos Antonakakis and Aviral K. Tiwari) (Publishedin Journal of Economics and Finance, Vol. 42(4), 2018, 795-806.)

18

� "On the Transmission Mechanism of Country-Speci�c and International Economic Uncer-tainty Spillovers: Evidence from a TVP-VAR Connectedness Decomposition." (with DavidGabauer) (Published in Economics Letters, Vol. 171(1), 2018, 63-71.)

� "Is Wine a Good Choice for Investment?" (with Elie Bouri, Wing-Keung Wong and ZhenzhenZhu) (Published in Paci�c-Basin Finance Journal, Vol. 51(1), 2018, 171-183.)

� "The Dynamic Impact of Uncertainty in Causing and Forecasting the Distribution of OilReturns and Risk." (with Giovanni Bonaccolto and Massimiliano Caporin) (Published inPhysica A: Statistical Mechanics and its Applications, Vol. 507(1), 2018, 446-469.)

� "Time-Varying Causality between Equity and Currency Returns in the United Kingdom: Ev-idence from Over Two Centuries of Data." (with Patrick T. Kanda and Michael Burke)(Published in Physica A: Statistical Mechanics and its Applications, Vol. 506(1), 2018, 1060-1080.)

� "Time-Varying E¢ ciency of Developed and Emerging Bond Markets: Evidence from Long-Spans of Historical Data." (with Lanouar Charfeddine, Karim Ben Khediri and Goodness C.Aye) (Published in Physica A: Statistical Mechanics and its Applications, Vol. 505(1), 2018,632-647.)

� �Social Status, In�ation and Endogenous Growth in a Cash-in-Advance Economy: A Recon-sideration." (with Lardo Stander) (Published in The Manchester School, Vol. 86(5), 2018,622-640.)

� "Time-Varying Rare Disaster Risks, Oil Returns and Volatility." (with Riza Demirer, TahirSuleman and Mark E. Wohar) (Published in Energy Economics, Vol. 75(1), 2018, 239-248.)

� "Wealth-to-Income Ratio and Stock Market Movements: Evidence from a NonparametricCausality Test." (with Mehmet Balcilar, Ricardo M. Sousa and Mark E. Wohar) (Publishedin International Review of Finance, Vol. 18(3), 2018, 495-506.)

� "Does Liquidity Risk Explain the Time-Variation in Asset Correlations? Evidence fromStocks, Bonds and Commodities." (with Zintle Twala and Riza Demirer) (Published in Jour-nal of Economics and Behavioral Studies, Vol. 10(2J), 2018, 120-132.)

� "Volatility Spillovers across Global Asset Classes: Evidence from Time and Frequency Do-mains." (with Aviral Kumar Tiwari, Juncal Cunado and Mark E. Wohar) (Published in TheQuarterly Review of Economics and Finance, Vol. 70(1), 2018, 194-202.)

� "Network Causality Structures among Bitcoin and other Financial Assets: A Directed AcyclicGraph Approach." (with Qiang Ji, Elie Bouri and David Roubaud) (Published in The Quar-terly Review of Economics and Finance, Vol. 70(1), 2018, 203-213.)

� "Macroeconomic Uncertainty, Growth and In�ation in the Eurozone: A Causal Approach."(with Vasilios Plakandaras, Periklis Gogas and Theophilos Papadimitriou) (Published in Ap-plied Economics Letters, Vol. 25(14), 2018, 1029-1033.)

� "E¢ ciency in South African Agriculture: A Two-Stage Fuzzy Approach." (with Goodness C.Aye and Peter Wanke) (Published in Benchmarking: An International Journal, Vol. 25(8),2018, 2723-2759.)

19

� "Impact of Volatility and Equity Market Uncertainty on Herd Behavior: Evidence from UKREITs." (with Omokolade Akinsomi, Yener Coskun and Chi Keung Marco Lau) (Publishedin Journal of European Real Estate Research, Vol. 11(2), 2018, 169�186.)

� "Current Account Sustainability in G7 and BRICS: Evidence from a Long Memory Modelwith Structural Breaks." (with Christophe Andre, Mehmet Balcilar, Tsangyao Chang andLuis A. Gil-Alana) (Published in Journal of International Trade and Economic Development,Vol. 27(6), 2018, 638-654.)

� "Country Risk Ratings and Stock Market Returns in BRICS countries: A Nonlinear DynamicApproach." (with with Adnen Ben Nasr, Juncal Cunado and Riza Demirer) (Published inRisks, Vol. 6(3), 2018, 94.)

� "Common Business Cycles and Volatilities in US States and MSAs: The Role of EconomicUncertainty." (with Jun Ma, Marian Risse and Mark E. Wohar) (Published in Journal ofMacroeconomics, Vol. 57(1), 2018, 317-337.)

� "Energy E¢ ciency Drivers in South Africa: 1965-2014." (with Goodness C. Aye and PeterWanke) (Published in Energy E¢ ciency, Vol. 11(6), 2018, 1465-1482.)

� "Forecasting US GNP Growth: The Role of Uncertainty." (with Mawuli K. Segnon, SteliosBekiros and Mark E. Wohar) (Published in Journal of Forecasting, Vol. 37(5), 2018, 541-559.)

� "The Relationship between the In�ation Rate and Inequality across US States: A Semipara-metric Approach." (with Mehmet Balcilar, Shinhye Chang and Stephen M. Miller) (Publishedin Quality and Quantity, Vol. 52(5), 2018, 2413�2425.)

� "Testing for Asymmetric Nonlinear Short- and Long-Run Relationships between Bitcoin, Ag-gregate Commodity and Gold Prices." (with Elie Bouri, Amine Lahiani and MuhammadShahbaz) (Published in Resources Policy, Vol. 57(1), 2018, 224-235.)

� "Gold Futures Returns and Realized Moments: A Forecasting Experiment Using a Quantile-Boosting Approach." (with Matteo Bonato, Riza Demirer and Christian Pierdzioch) (Pub-lished in Resources Policy, Vol. 57(1), 2018, 196-212.)

� "Bitcoin and Global Financial Stress: A Copula-Based Approach to Dependence and Causality-in-Quantiles." (with Elie Bouri, Chi Keung Marco Lau, David Roubaud, Shixuan Wang)(Published in The Quarterly Review of Economics and Finance, Vol. 69(1), 2018, 297-307.)

� "Comparing the Forecasting Ability of Financial Conditions Indices: The Case of SouthAfrica." (with Mehmet Balcilar, Renee van Eyden, Kirsten Thompson and AnandamayeeMajumdar) (Published in The Quarterly Review of Economics and Finance, Vol. 69(1),2018, 245-259.)

� "An Assessment of UK Macroeconomic Volatility: Historical Evidence Using Over SevenCenturies of Data." (with Vasilios Plakandaras and Mark E. Wohar) (Published in Journalof Policy Modeling, Vol. 40(4), 2018, 767-789.)

� "Endogenous Fluctuations in an Endogenous Growth Model with In�ation Targeting." (withLardo Stander) (Published in The Quarterly Review of Economics and Finance, Vol. 69(1),2018, 1-8.)

20

� "U.S. State Level Carbon Dioxide Emissions: Does it A¤ect Health Care Expenditure?" (withNicholas Apergis, Chi Keung Marco Lau and Zinnia Mukherjee) (Published in Renewable andSustainable Energy Reviews, Vol. 91(1), 2018, 521-530.)

� "Unconventional Monetary Policy Shocks in OECD Countries: How Important is the Ex-tent of Policy Uncertainty?" (with Charl Jooste) (Published in International Economics andEconomic Policy, Vol. 15(3), 2018, 683-703.)

� "OPEC News and Predictability of Oil Futures Returns and Volatility: Evidence from a Non-parametric Causality-in-Quantiles Approach." (with Seong-Min Yoon) (Published in NorthAmerican Journal of Economics and Finance, Vol. 45(1), 2018, 206-214.)

� "Testing the E¢ ciency of the Art Market using Quantile-Based Unit Root Tests with Sharpand Smooth Breaks." (with Goodness C. Aye, Tsangyao Chang, Wen-Yi Chen and Mark E.Wohar) (Published in The Manchester School, Vol. 86(4), 2018, 488-511.)

� "The Role of Partisan Con�ict in Forecasting the U.S. Equity Premium: A NonparametricApproach." (with John W. Muteba Mwamba and Mark E. Wohar) (Published in FinanceResearch Letters, Vol. 25(1), 2018, 131-136.)

� "Forecasting using a Nonlinear DSGE Model." (with Sergey Ivashchenko) (Published in Jour-nal of Central Banking Theory and Practice, Vol. 7(2), 2018, 73-98.)

� "Asymmetric Granger Causality between Military Expenditures and Economic Growth in TopSix Defense Suppliers." (with Abdulnasser Hatemi-J, Tsangyao Chang, Wen-Yi Chen andFeng-Li Lin) (Published in Quality and Quantity, Vol. 52(3), 2018, 1193-1207.)

� "Analysis of Herding in REITs of an Emerging Market: The Case of Turkey." (with Omoko-lade Akinsomi and Yener Coskun) (Published in Journal of Real Estate Portfolio Management,Vol. 24(1), 2018, 65-81.)

� "South Africa�s Monetary Policy Independence: Evidence from a Global New-KeynesianDSGE Model." (with Annari De Waal and Charl Jooste) (Published in Applied EconomicsLetters, Vol. 25(12), 2018, 840-846.)

� "Presidential Cycles and Time-Varying Bond-Stock Correlations: Evidence from More thanTwo Centuries of Data." (with Riza Demirer) (Published in Economics Letters, Vol. 167(1),2018, 36-39.)

� "The Impact of Unconventional Monetary Policy Shocks in the US on Emerging Market RE-ITs: A Qual VAR Approach." (with Hardik A. Marfatia) (Forthcoming in Journal of RealEstate Literature, Vol. 26(1), 2018, 175-188.)

� "The Predictive Power of Industrial Electricity Usage Revisited: Evidence from Nonparamet-ric Causality Tests." (with Matteo Bonato and Riza Demirer) (Published in OPEC EnergyReview, Vol. 42(2), 2018, 93-106.)

� "The Role of Economic and Financial Uncertainties in Predicting Commodity Futures Re-turns and Volatility: Evidence from a Nonparametric Causality-in-Quantiles Test." (withWalid Bahloul, Mehmet Balcilar and Juncal Cunado) (Published in Journal of MultinationalFinancial Management, Vol. 45(1), 2018, 52-71.)

21

� "Geopolitical Risks and Stock Market Dynamics of the BRICS." (with Mehmet Balcilar, Mat-teo Bonato and Riza Demirer) (Published in Economic Systems, Vol. 42(2), 2018, 295-306.)

� "In�ation-Growth Nexus in Africa: Evidence from a Pooled CCE Multiple Regime PanelSmooth Transition Model." (with Renee van Eyden and Tolga Omay) (Published in EmpiricalEconomics, Vol. 54(3), 2018, 913-944.)

� "Convergence in Income Inequality: Further Evidence from the Club Clustering Methodologyacross the U.S. States." (with Nicholas Apergis, Christina Christou and Stephen M. Miller)(Published in International Advances in Economics Research, Vol. 24(2), 2018, 147-161.)

� "Dynamic Connectedness of Uncertainty across Developed Economies: A Time-Varying Ap-proach." (with Nikolaos Antonakakis, David Gabauer and Vasilios Plakandaras) (Publishedin Economics Letters, Vol. 166(1), 2018, 63-75.)

� "The Links between Crude Oil Prices and GCC Stock Markets: Evidence from Time-VaryingGranger Causality Tests." (with Mehmet Balcilar and Ismail H. Genc) (Published in RecentTopics in Time Series and Finance: Theory and Applications in Emerging Markets, Editedby: Semei Coronado, Omar Rojos, and Francisco Venegas-Martinez, Chapter 5, 121-161.)

� "Causal Relationships between Economic Policy Uncertainty and Housing Market Returnsin China and India: Evidence from Linear and Nonlinear Panel and Time Series Models."(with Sheung-Chi Chow, Juncal Cunado and Wing-Keung Wong) (Published in Studies inNonlinear Dynamics and Econometrics, Vol. 22(2), 2018, 1-15.)

� "Di¤erences of Opinion and Stock Market Volatility: Evidence from a Nonparametric Causality-in-Quantiles Approach." (with Mehmet Balcilar, Riza Demirer and Mark E. Wohar) (Pub-lished in Journal of Economics and Finance, Vol. 42(2), 2018, 339-351.)

� "Identifying Periods of US Housing Market Explosivity." (with Mehmet Balcilar and NicoKatzke) (Published in Economics: The Open-Access, Open-Assessment E-Journal, Vol. 12(2018-18), 2018, 1�33.)

� "Oil Returns and Volatility: The Role of Mergers and Acquisitions." (with Martijn Bos, RizaDemirer and Aviral Kumar Tiwari) (Published in Energy Economics, Vol. 71(1), 2018, 62-69.)

� "Does Global Fear Predict Fear in BRICS Stock Markets? Evidence from a Bayesian Graph-ical VAR Model." (with Elie Bouri, Seyedmehdi Hosseini and Chi Keung Marco Lau) (Pub-lished in Emerging Markets Review, Vol. 34(1), 2018, 124-142.)

� "Terror Attacks and Stock Market Fluctuations: Evidence Based on a Nonparametric Causality-in-Quantiles Test for the G7 Countries." (with Mehmet Balcilar, Christian Pierdzioch andMark E. Wohar) (Published in The European Journal of Finance, Vol. 24(3), 2018, 333-346.)

� "Do House Prices Hedge In�ation in the US? A Quantile Cointegration Approach." (withChristina Christou, Wendy Nyakabawo and Mark E. Wohar) (Published in InternationalReview of Economics and Finance, Vol. 54(C), 15-26.)

� "The Relationship between Commodity Markets and Commodity Mutual Funds: A Wavelet-Based Analysis." (with Nikolaos Antonakakis, Tsangyao Chang and Juncal Cunado) (Pub-lished in Finance Research Letters, Vol. 24(1), 2018, 1-9.)

22

� "On the Directional Accuracy of In�ation Forecasts: Evidence from South African SurveyData." (with Christian Pierdzioch and Monique B. Reid) (Published in Journal of AppliedStatistics, Vol. 45(5), 2018, 884-900.)

� "Date Stamping Historical Oil Price Bubbles: 1876-2014." (with Itamar Caspi and NicoKatzke) (Published in Energy Economics, Vol. 70(1), 2018, 582-587.)

� "Does Tourism Cause Growth Asymmetrically in a Panel of G-7 Countries? A Short Note."(with Abdulnasser Hatemi-J, Axel Kasongo, Thabo Mboweni and Ndivhuho Netshitenzhe)(Published in Empirica, Vol. 45(1), 2018, 49-57.)

� "Predicting Stock Returns and Volatility with Investor Sentiment Indices: A Reconsiderationusing a Nonparametric Causality-in-Quantiles Test." (with Mehmet Balcilar and ClementKyei) (Published in Bulletin of Economic Research, Vol. 70(1), 2018, 74-87.)

� "Dynamic Relationship between Oil Price and In�ation in South Africa." (with MehmetBalcilar and Josine Uwilingiye) (Published in Journal of Developing Areas, Vol. 52(2), 2018,73-95.)

� "The Relationship between Stock Market Volatility and Trading Volume: Evidence from SouthAfrica." (with Pramod Kumar Naik and Puja Padhi) (Published in Journal of DevelopingAreas, Vol. 52(1), 2018, 99-114.)

� "Does Partisan Con�ict Predict a Reduction in US Stock Market (Realized) Volatility? Evi-dence from a Quantile-on-Quantile Regression Model." (with Christian Pierdzioch, Refk Selmiand Mark E. Wohar) (Published in North American Journal of Economics and Finance, Vol.43(1), 2018, 87-96.)

� "Causality between Per Capita Real GDP and Income Inequality in the U.S.: Evidence froma Wavelet Analysis." (with Shinhye Chang and Stephen M. Miller) (Published in SocialIndicators Research, Vol. 135(1), 2018, 269-289.)

� "The Impact of Economic Policy Uncertainty on US Real Housing Returns and their Volatil-ity: A Nonparametric Approach." (with Christophe Andre, Lumengo Bonga-Bonga and JohnW. Muteba Mwamba) (Published in Journal of Real Estate Research, Vol. 39(4), 2017,493-513.)

� "Asymmetric Behaviour in Nominal and Real Housing Prices: Evidence from Advanced andEmerging Economies." (with Christophe Andre, Nikolaos Antonakakis and Mulatu F. Zeri-hun) (Published in Journal of Real Estate Literature, Vol. 25(2), 2017, 409-425.)

� "Do Leading Indicators Forecast U.S. Recessions? A Nonlinear Re-Evaluation Using Histor-ical Data." (with Vasilios Plakandaras, Juncal Cunado and Mark E. Wohar) (Published inInternational Finance, Vol. 20(3), 2017, 289-300.)

� "Components of Economic Policy Uncertainty and Predictability of US Stock Returns andVolatility: Evidence from a Nonparametric Causality-in-Quantile Approach." (with NikolaosAntonakakis, Mehmet Balcilar and Clement Kyei) (Published in Frontiers in Finance andEconomics, Vol. 14(2), 2017, 20-49.)

23

� "Testing the E¢ ciency of the Wine Market using Unit Root Tests with Sharp and SmoothBreaks." (with Elie Bouri and Tsangyao Chang) (Published in Wine Economics and Policy,Vol. 6(2), 2017, 80-87.)

� "Does Country Risks Predict Stock Returns and Volatility? Evidence from a NonparametricApproach." (with Tahir Suleman and Mehmet Balcilar) (Published in Research in Interna-tional Business and Finance, Vol. 42(1), 2017, 1173-1195.)

� "Does Gold Act as a Hedge against In�ation in the UK? Evidence from a Fractional Coin-tegration Approach Over 1257 to 2016." (with Goodness C. Aye, Hector Carcel and Luis A.Gil-Alana) (Published in Resources Policy, Vol. 54(1), 2017, 53-57.)

� "Does Bitcoin Hedge Global Uncertainty? Evidence from Wavelet-Based Quantile-in-QuantileRegressions." (with Elie Bouri, Aviral Kumar Tiwari and David Roubaud) (Published inFinance Research Letters, Vol. 23(1), 2017, 87-95.)

� "The Role of News-Based Uncertainty Indices in Predicting Oil Markets: A Hybrid Nonpara-metric Quantile Causality Method." (with Mehmet Balcilar and Stelios Bekiros) (Publishedin Empirical Economics, Vol. 53(3), 2017, 879-889.)

� "Geopolitical Risks and the Oil-Stock Nexus Over 1899-2016." (with Nikolaos Antonakakis,Christos Kollias and Stephanos Papadamou) (Published in Finance Research Letters, Vol.23(1), 2017, 165-173.)

� "The International REIT�s Time-Varying Response to the U.S. Monetary Policy and Macro-economic Surprises." (with Hardik A. Marfatia and Esin Cakan) (Published in North Amer-ican Journal of Economics and Finance, Vol. 42(1), 2017, 640-653.)

� "The Changing Dynamics of South Africa�s In�ation Persistence: Evidence from a QuantileRegression Framework." (with Charl Jooste and Omid Ranjbar) (Published in EconomicChange and Restructuring, Vol. 50(4), 2017, 367-386.)

� "On Exchange-Rate Movements and Gold-Price Fluctuations: Evidence for Gold-ProducingCountries from a Nonparametric Causality-in-Quantiles Test." (with Mehmet Balcilar andChristian Pierdzioch) (Published in International Economics and Economic Policy, Vol. 14(4),2017, 691-700.)

� "Do Sustainable Stocks O¤er Diversi�cation Bene�ts for Conventional Portfolios? An Em-pirical Analysis of Risk Spillovers and Dynamic Correlations." (with Mehmet Balcilar andRiza Demirer) (Published in Sustainability, Vol. 9(10), 2017, 1799.)

� "The Nexus between Military Expenditures and Economic Growth in the BRICS and the US:An Empirical Note." (with Ming Zhong, Tsangyao Chang, Samrat Goswami and Tien-WeiLou) (Published in Defence and Peace Economics, Vol. 28(5), 2017, 609-620.)

� "The E¤ect of Gold Market Speculation on REIT Returns in South Africa: A BehavioralPerspective." (with Kola Akinsomi, Mehmet Balcilar and Riza Demirer) (Published in Journalof Economics and Finance, Vol. 41(4), 2017, 774-793.)

24

� "Income Inequality: A State-by-State Complex Network Analysis." (with Perikilis Gogas,Stephen M. Miller, Theophilos Papadimitriou and Georgios Antonios Sarantitis) (Publishedin Physica A: Statistical Mechanics and its Applications, Vol. 483(1), 2017, 423-437.)

� "Does U.S. Macroeconomic News Make the South African Stock Market Riskier?" (with EsinCakan) (Published in Journal of Developing Areas, Vol. 51(4), 2017, 15-28.)

� "Has the Correlation of In�ation and Stock Prices Changed in the United States over the LastTwo Centuries?" (with Nikolaos Antonakakis and Aviral K. Tiwari) (Published in Researchin International Business and Finance, Vol. 42(1), 2017, 1-8.)

� "Can Weather Conditions in New York Predict South African Stock Returns?" (with NicholasApergis) (Published in Research in International Business and Finance, Vol. 41(1), 2017, 377-386.)

� "Merger and Acquisitions in South African Banking: A Network DEA Model." (with PeterWanke and Andrew Maredza) (Published in Research in International Business and Finance,Vol. 41(1), 2017, 362-376.)

� "Is Economic Policy Uncertainty Related to Suicide Rates? Evidence from the United States."(with Nikolaos Antonakakis) (Published in Social Indicators Research, Vol. 133(2), 2017, 543�560.)

� "Energy Demand in South Africa: Is it Asymmetric?" (with Roula Inglesi-Lotz and John W.Muteba Mwamba) (Published in OPEC Energy Review, Vol. 41(3), 2017, 226- 238.)

� "The Impact of US Policy Uncertainty on the Monetary E¤ectiveness in the Euro Area."(with Mehmet Balcilar, Riza Demirer and Renee van Eyden) (Published in Journal of PolicyModeling, Vol. 39(6), 2017, 1052-1064.)

� "Evidence of Persistence in U.S. Short and Long-Term Interest Rates Using Long-SpanMonthly and Annual Data." (with Luis A. Gil-Alana and Juncal Cunado) (Published inJournal of Policy Modeling, Vol. 39(5), 2017, 775-789.)

� "Forecasting Key US Macroeconomic Variables with a Factor-Augmented Qual VAR." (withEric Olson and Mark E. Wohar) (Published in Journal of Forecasting, Vol. 36(6), 2017.640-650)

� "Time-Varying Persistence of In�ation: Evidence from a Wavelet-Based Approach." (withHeni Boubaker, Giorgio Canarella and Stephen M. Miller) (Published in Studies in NonlinearDynamics and Econometrics, Vol. 21(4), 2017.)

� "Time-Varying Persistence in US In�ation." (with Massimiliano Caporin) (Published in Em-pirical Economics, Vol. 53(2), 2017, 423-439.)

� "The E¢ ciency of the Art Market: Evidence from Variance Ratio Tests, Linear and NonlinearFractional Integration Approaches." (with Goodness C. Aye, Luis A. Gil-Alana and Mark E.Wohar) (Published in International Review of Economics and Finance, Vol. 51(1), 2017,283-294.)

25

� "Convergence of Health Care Expenditures across the US States: A Reconsideration." (withNicholas Apergis, Tsangyao Chang and Christina Christou) (Published in Social IndicatorsResearch, Vol. 133(1), 2017, 303-316.)

� "Forecasting South African Macroeconomic Variables with a Markov-Switching Small Open-Economy Dynamic Stochastic General Equilibrium Model." (with Mehmet Balcilar and KevinKotze) (Published in Empirical Economics, Special Issue: Forecasting, Use of Survey Dataon Expectations, and Panel Data Applications, Vol. 53(1), 2017, 117-135.)

� "Do Terror Attacks Predict Gold Returns? Evidence from a Quantile-Predictive-RegressionApproach." (with Anandamayee Majumdar, Christian Pierdzioch and Mark E. Wohar) (Pub-lished in The Quarterly Review of Economics and Finance, Vol. 65(1), 2017, 276-284.)

� "Does Economic Policy Uncertainty Forecast Real Housing Returns in a Panel of OECDCountries? A Bayesian Approach." (with Christina Christou and Christis Hassapis) (Pub-lished in The Quarterly Review of Economics and Finance, Vol. 65(1), 2017, 50-60.)

� "The South African Economic Response to Monetary Policy Uncertainty." (with MehmetBalcilar and Charl Jooste) (Published in Journal of Economic Studies, Vol. 44(2), 2017,282-293.)

� "Persistence, Mean-Reversion and Non-Linearities in CO2 Emissions: The Cases of China,India, UK and US." (with Luis A. Gil-Alana and Juncal Cunado) (Published in Environ-mental and Resource Economics, Vol. 67(4), 2017, 869-883.)

� "Do Terror Attacks A¤ect the Dollar-Pound Exchange Rate? A Nonparametric Causality-in-Quantiles Analysis." (with Mehmet Balcilar, Christian Pierdzioch and Mark E. Wohar)(Published in North American Journal of Economics and Finance, Vol. 41(1), 2017, 44-56.)

� "Does U.S. News Impact Asian Emerging Markets? Evidence from Nonparametric Causality-in-Quantiles Test." (with Mehmet Balcilar and Esin Cakan) (Published in North AmericanJournal of Economics and Finance, Vol. 41(1), 2017, 32-43.)

� "Convergence Patterns in Sovereign Bond Yield Spreads: Evidence from the Euro Area."(with Nikolaos Antonakakis, Christina Christou and Junccal Cunado) (Published in Journalof International Financial Markets, Institutions and Money, Vol. 49(1), 2017, 129-139.)

� "Near-Rational Expectations: How Far are Surveys from Rationality?" (with Sergey Ivashchenko)(Published in Journal of Economics and Econometrics, Vol. 60(1), 2017, 1-27.)

� "The Impact of Oil Price on South African GDP Growth: A Bayesian Markov Switching-VAR Analysis." (with Mehmet Balcilar, Renee van Eyden and Josine Uwilingiye) (Publishedin African Development Review, Vol. 29(2), 2017, 319-336.)

� "Economic Policy Uncertainty and Stock Market Returns in Paci�c-Rim Countries: Evidencebased on a Bayesian Panel VAR Model." (with Christina Christou, Juncal Cunado and Chris-tis Hassapis) (Published in Journal of Multinational Financial Management, Vol. 40(1), 2017,92-102.)

26

� "The Growth-In�ation Nexus for the US from 1801 to 2013: A Semiparametric Approach."(with Mehmet Balcilar and Charl Jooste) (Published in Journal of Applied Economics, Vol.XX(1), 2017, 105-120.)

� "Impact of US Uncertainties on Emerging and Mature Markets: Evidence from a Quantile-Vector Autoregressive Approach." (with Helena Chulia, Jorge M. Uribe and Mark E. Wohar)(Published in Journal of International Financial Markets, Institutions and Money, Vol. 48(1),2017, 178-191.)

� "The Depreciation of the Pound Post-Brexit: Could it have been Predicted?" (with VasiliosPlakandaras and Mark E. Wohar) (Published in Finance Research Letters, Vol. 21(1), 2017,206-213.)

� "Financial Tail Risks and the Shapes of the Extreme Value Distribution: A Comparisonbetween Conventional and Sharia-Compliant Stock Indexes." (with John W. Muteba Mwambaand Shawkat Hammoudeh) (Published in Paci�c-Basin Finance Journal, Vol. 42(1), 2017, 60-82.)

� "Can Volume Predict Bitcoin Returns and Volatility? A Nonparametric Causality-in- Quan-tiles Approach." (with Mehmet Balcilar, Elie Bouri and and David Roubaud) (Published inEconomic Modelling, Vol. 64(1), 2017, 74-81.)

� "Development, Poverty and Inequality: A Spatial Analysis of South African Provinces." (withCarlos P. Barros) (Published in Journal of Developing Areas, Vol. 51(1), 2017, 19-32.)

� "Persistence, Mean-Reversion and Non-Linearities in Infant Mortality Rates." (with Luis A.Gil-Alana and Juncal Cunado) (Published in Social Indicators Research, Vol. 131(1), 2017,393-405.)

� "The Time-Varying Correlation between Output and Prices in the United States over 1800 to2014." (with Nikolaos Antonakakis and Aviral K. Tiwari) (Published in Economic Systems,Vol. 41(1), 2017, 98-108.)

� "Forecasting Oil and Stock Returns with a Qual VAR using over 150 Years of Data." (withMark E. Wohar) (Published in Energy Economics, Vol. 62(1), 2017, 181-186.)

� "Modeling and Forecasting Carbon Dioxide Emission Allowance Prices: A Review and Com-parison of Modern Volatility Models." (with Mawuli Segnon and Thomas Lux) (Published inRenewable and Sustainable Energy Reviews, Vol. 69(1), 2017, 692-704.)

� "Are there Environmental Kuznets Curves for US State-Level CO2 Emissions?" (with NicholasApergis and Christina Christou) (Published in Renewable and Sustainable Energy Reviews,Vol. 69(1), 2017, 551-558.)

� "Forecasting In�ation in an In�ation Targeting Economy: Structural Versus Non-StructuralModels." (Published in Applied Economics, Vol. 49(24), 2017, 2316-2321.)

� �The Causal Relationship between Coal Consumption and Economic Growth in the BRICSCountries: Evidence from Panel Granger Causality Tests." (with Tsangyao Chang, FrederickW. Deale, Roulof Hefer, Roula Inglesi-Lotz and Beatrice D. Simo-Kengne) (Published inEnergy Sources, Part B: Economics, Planning, and Policy, Vol. 12(2), 2017, 138-146.)

27

� "The US Real GNP is Trend-Stationary After All." (with Tolga Omay and Giovanni Bonac-colto) (Published in Applied Economics Letters, Vol. 24(8), 2017, 510-514.)

� "Do Precious Metal Prices Help in Forecasting South African In�ation?" (with Mehmet Bal-cilar and Nico Katzke) (Published in North American Journal of Economics and Finance,Vol. 40(1), 2017, 63-72.)

� "Do Trend Extraction Approaches A¤ect Causality Detection in Climate Change Studies?"(with Xu Huang, Hossein Hassani, Mansi Ghodsi and Zinnia Mukherjee) (Published in Phys-ica A: Statistical Mechanics and its Applications, Vol. 469(1), 2017, 604-624.)

� "The Relationship between Population Growth and Economic Growth over 1870-2013: Ev-idence from a Bootstrapped Panel-Granger Causality Test." (with Tsangyao Chang, Hsiao-Ping Chu, Frederick W. Deale and Stephen M. Miller) (Published in Empirica, Vol. 44(1),2017, 175-201.)

� "International Stock Return Predictability: Is the Role of U.S. Time-Varying?" (with Good-ness C. Aye and Mehmet Balcilar) (Published in Empirica, Vol. 44(1), 2017, 121-146.)

� "Oil Price Shocks and China�s Economy: Reactions of the Monetary Policy to Oil PriceShocks." (with Won Joong Kim, Shawkat Hammoudeh and Jun Seog Hyun) (Published inEnergy Economics, Vol. 62(1), 2017, 61-69.)

� "Forecasting Accuracy Evaluation of Tourist Arrivals." (with Hossein Hassani, EmmanuelSirimal Silva, Nikolaos Antonakakis and George Filis) (Published in Annals of Tourism Re-search, Vol. 63(1), 2017, 112-127.)

� "The Informational Content of the Term-Spread in Forecasting the U.S. In�ation Rate: ANonlinear Approach." (with Perikilis Gogas, Theophilos Papadimitriou and Vasilios Plakan-daras) (Published in Journal of Forecasting, Vol. 36(2), 2017, 109-121.)

� "The Predictability of cay and cayMS for Stock and Housing Returns: A NonparametricCausality in Quantile Test." (with Mehmet Balcilar, Ricardo M. Sousa and Mark E. Wohar)(Published in International Review of Economics and Finance, Vol. 48(1), 2017, 269-279.)

� "Are Health Care Expenditures and Personal Disposable Income Characterised by Asymmet-ric Behaviour? Evidence from US State-Level Data." (with Mulatu F. Zerihun and JuncalCunado) (Published in Social Indicators Research, Vol. 131(2), 2017, 527-542.)

� "The Role of Current Account Balance in Forecasting the US Equity Premium: Evidencefrom a Quantile Predictive Regression Approach." (with Anandamayee Majumdar and MarkE. Wohar) (Published in Open Economies Review, Vol. 28(1), 2017, 47-59.)

� "The Role of Oil Prices in the Forecasts of South African Interest Rates: A Bayesian Ap-proach." (with Kevin Kotze) (Published in Energy Economics, Vol. 61(1), 2017, 270-278.)

� "Common Cycles and Common Trends in the Stock and Oil Markets: Evidence from Morethan 150 Years of Data." (with Mehmet Balcilar and Mark E. Wohar) (Published in EnergyEconomics, Vol. 61(1), 2017, 72-86.)

28

� "Forecasting Home Sales in the Four Census Regions and the Aggregate US Economy UsingSingular Spectrum Analysis." (with Hossein Hassani, Zara Ghodsi and Mawuli K. Segnon)(Published in Computational Economics, Vol. 49(1), 2017, 83-97.)

� "Long Memory, Economic Policy Uncertainty and Forecasting US In�ation: A BayesianVARFIMA Approach." (with Mehmet Balcilar and Charl Jooste) (Published in Applied Eco-nomics, Vol. 49(11), 2017, 1047-1054.)

� "Does the SARB Respond to Oil Price Movements? Historical Evidence from the FrequencyDomain." (with Goodness. C. Aye and Olorato Gadinabokao) (Published in Energy Sources,Part B: Economics, Planning, and Policy, Vol. 12(1), 2017, 40-46.)

� "The Causal Relationship between Energy Consumption and Economic Growth in SouthAfrica: New Evidence from Asymmetric Causality in Frequency Domain." (with Omid Ran-jbar, Tsangyao Chang and Elmarie Nel) (Published in Energy Sources, Part B: Economics,Planning, and Policy, Vol. 12(1), 2017, 24-31.)

� "The E¤ect of Investor Sentiment on Gold Market Dynamics." (with Mehmet Balcilar, Mat-teo Bonato and Riza Demirer) (Published in Resources Policy, Vol. 51(1), 2017, 77-84.)

� "Impact of Activity Tax in the Property-Owning and Subletting of Fixed Property Sectors onthe South African Economy: A CGE Analysis." (with Lumengo Bonga-Bonga and Jean LucErero) (Published in Journal of Real Estate Literature, Vol. 24(2), 2016, 345-357.)

� "An Application of a New Seasonal Unit Root Test for Trending and Breaking Series toIndustrial Production of the BRICS." (with Ghassen El Montasser) (Published in Journal ofDeveloping Areas, Vol. 50(4), 2016, 183-194.)

� "Predicting South African Equity Premium using Domestic and Global Economic Policy Un-certainty Indices: Evidence from a Bayesian Graphical Model." (with Mehmet Balcilar, Mam-pho P. Modise and John W. Muteba Mwamba) (Published in Frontiers in Finance and Eco-nomics, Vol. 13(2), 2016, 41-72.)

� �Cross-Country Evidence on the Causal Relationship between Policy Uncertainty and HousePrices." (with Ghassen El-Montasser, Ahdi N. Ajmi, Tsangyao Chang, Beatrice D. Simo-Kengne and Christophe Andre) (Published in Journal of Housing Research, Vol. 25(2), 2016,195-212.)

� "A Time Series Analysis of Long Island Sound Lobster Fishery." (with Zinnia Mukherjeeand Dipak K. Dey) (Published in Natural Hazards, Vol. 84(3), 2016, 1849-1858.)

� �Forecasting US Real Private Residential Fixed Investment Using Large Number of Predic-tors." (with Goodness C. Aye, Stephen M. Miller and Mehmet Balcilar) (Published in Em-pirical Economics, Vol. 51(4), 2016, 1557-1580.)

� "The Role of Economic Policy Uncertainty in Predicting U.S. Recessions: A Mixed-FrequencyMarkov-Switching Vector Autoregressive Approach." (with Mehmet Balcilar and Mawuli Seg-non) (Published in Economics: The Open-Access, Open-Assessment E-Journal, Vol. 10(2016-27), 2016, 1-20.)

29

� "Real Estate Returns Predictability Revisited: Novel Evidence from the US REITs Market."(with Omokolade Akinsomi, Goodness C. Aye, Vassilios Babalos and Fotini Economou) (Pub-lished in Empirical Economics, Vol. 51(3), 2016, 1165-1190.)

� "Is In�ation Persistence Di¤erent in Reality?" (with Nikolaos Antonakakis, Juncal Cunado,Luis A. Gil-Alana) (Published in Economics Letters, Vol. 148(1), 2016, 55-58.)

� "Dynamic Spillovers in the United States: Stock Market, Housing, Uncertainty and theMacroeconomy." (with Nikolaos Antonakakis and Christophe Andre) (Published in South-ern Economic Journal, Vol. 83(2), 2016, 609-624.)

� "Trust and Quality of Growth: A Note." (with Simplice A. Asongu) (Published in EconomicsBulletin, Vol. 36(3), 2016, 181-195.)

� "Dynamic Comovements between Housing and Oil Markets in the US over 1859 to 2013: ANote." (with Nikolaos Antonakakis and John W. Muteba Mwamba) (Published in AtlanticEconomic Journal, Vol. 44(3), 2016, 377-386.)

� "Out-of-Sample Equity Premium Predictability in South Africa: Evidence from a Large Num-ber of Predictors." (with Mampho P. Modise and Josine Uwilingiye) (Published in EmergingMarkets Finance and Trade, Vol. 52(8), 2016, 1935-1955.)

� "Stock Price Dynamics and the Business Cycle in an Estimated DSGE Model for SouthAfrica." (with Michael Paetz) (Published in Journal of International Financial Markets, In-stitutions and Money, Vol. 44(1), 2016, 166-182.)

� "In�ation Forecasts and Forecaster Herding: Evidence from South African Survey Data."(with Christian Pierdzioch and Monique B. Reid) (Published in Journal of Behavioral andExperimental Economics, Vol. 62(1), 2016, 42-50.)

� "Testing the Asymmetric E¤ects of Financial Conditions in South Africa: A Nonlinear VectorAutoregression Approach." (with Mehmet Balcilar, Kirsten Thompson and Renee van Eyden)(Published in Journal of International Financial Markets, Institutions and Money, Vol. 43(1),2016, 30-43.)

� "Incorporating Economic Policy Uncertainty in US Equity Premium Models: A NonlinearPredictability Analysis." (with Stelios Bekiros and Anandamayee Majumdar) (Published inFinance Research Letters, Vol. 18(1), 2016, 291-296.)

� "Causal Relationship between Asset Prices and Output in the US: Evidence from State-LevelPanel Granger Causality Test." (with Furkan Emirmahmutoglu, Mehmet Balcilar, NicholasApergis, Beatrice D. Simo-Kengne and Tsangyao Chang) (Published in Regional Studies, Vol.50(10), 2016, 1728-1741.)

� "Testing for Bubbles in the BRICS Stock Markets." (with Tsangyao Chang, Luis A. Gil-Alana, Goodness C. Aye and Omid Ranjbar) (Published in Journal of Economic Studies, Vol.43(4), 2016, 646-660.)

� "The Impact of Oil Shocks on the South African Economy." (with Carolyn Chisadza, JannekeDlamini and Mampho P. Modise) (Published in Energy Sources, Part B: Economics, Planning,and Policy, Vol. 11(8), 2016, 739-745.)

30

� "Detection of Multiple Bubbles in South African Electricity Prices." (with Roula Inglesi-Lotz)(Published in Energy Sources, Part B: Economics, Planning, and Policy, Vol. 11(7), 2016,637-642.)

� �Revisiting the Causal Relationship between Energy Consumption and Economic Growth inSouth Africa: Evidence from a Bootstrap Rolling-Window Approach." (with Janneke Dlamini,Mehmet Balcilar and Roula Inglesi-Lotz) (Published in Energy Sources, Part B: Economics,Planning, and Policy, Vol. 11(7), 2016, 617-625.)

� "The Feldstein-Horioka Puzzle in South Africa: A Fractional Cointegration Approach." (withLuis A. Gil-Alana, Christophe Andre, Tsangyao Chang and Omid Ranjbar) (Published inJournal of International Trade and Economic Development, Vol. 25(7), 2016, 978-991.)

� "Forecasting the Volatility of the Dow Jones Islamic Stock Market Index: Long Memory vs.Regime Switching." (with Adnen Ben Nasr, Thomas Lux and Ahdi N. Ajmi) (Published inInternational Review of Economics and Finance, Vol. 45(1), 2016, 559-571.)

� "Periodically Collapsing Bubbles in the South African Stock Market." (with Mehmet Balcilar,Charl Jooste and Mark E. Wohar) (Published in Research in International Business andFinance, Vol. 38(1), 2016, 191-201.)

� "Forecasting US CPI: Does Nonlinearity Matter?" (with Marcos Alvarez-Diaz) (Published inApplied Economics, Vol. 48(46), 2016, 4462-4475.)

� "House Values and Proximity to a Land�ll: A Quantile Regression Framework." (Mario DuPreez, Mehmet Balcilar, Aarifah Razak and Steven F. Koch) (Published in Journal of RealEstate Literature, Vol. 24(1), 2016, 133-149.)

� "A Nonlinear Approach for Predicting Stock Returns and Volatility with the Use of InvestorSentiment Indices." (with Stelios Bekiros and Clement Kyei) (Published in Applied Eco-nomics, Vol. 48(31), 2016, 2895-2898.)

� "Does Debt Ceiling and Government Shutdown Help in Forecasting the US Equity Risk Pre-mium?" (with Goodness C. Aye and Frederick W. Deale) (Published in Panoeconomicus, Vol.63(2), 2016, 273-291.)

� "Does Sunspot Numbers Cause Global Temperatures? A Reconsideration Using a Non-ParametricCausality Test." (with Hossein Hassani, Xu Huang and Mansi Ghodsi) (Published in PhysicaA: Statistical Mechanics and its Applications, Vol. 460(1), 2016, 54-65.)

� "LPPLS Bubble Indicators over Two Centuries of the S&P500 Index." (with Qunzhi Zhang,Didier Sornette, Mehmet Balcilar, Zeynel A. Ozdemir and Hakan Yetkiner) (Published inPhysica A: Statistical Mechanics and its Applications, Vol. 458(1), 2016, 126-139.)

� "Persistence, Mean Reversion and Non-Linearities in US Housing Prices over 1830-2013."(with Luis A. Gil-Alana and Fernando Perez de Gracia) (Published in Applied Economics,Vol. 48(34), 2016, 3244-3252.)

� "The Relationship between Oil and Agricultural Commodity Prices: A Quantile CausalityApproach." (with Mehmet Balcilar, Shinhye Chang, Vanessa Kasongo and Clement Kyei)(Published in Journal of Developing Areas, Vol. 50(2), 2016, 137-152.)

31

� "Time Series Analysis of Persistence in Crude Oil Price Volatility across Bull and BearRegimes." (with Luis A. Gil-Alana, Olusanya E. Olubusoye and OlaOluwa S. Yaya) (Pub-lished in Energy, Vol. 109(1), 2016, 29-37.)

� "Hydroelectricity Consumption and Economic Growth Nexus: Evidence from a Panel of TenLargest Hydroelectricity Consumers." (with Nicholas Apergis, Tsangyao Chang and Em-manuel Ziramba) (Published in Renewable and Sustainable Energy Reviews, Vol. 62(1),2016, 318-325.)

� �Are there Housing Bubbles in South Africa? Evidence from SPSM-Based Panel KSS Testwith a Fourier Function." (with Tsangyao Chang, Wen-Chi Liu and Goodness C. Aye) (Pub-lished in Global Business and Economics Review, Vol. 18(5), 2016, 517�532.)

� "Does Uncertainty Move the Gold Price? New Evidence from a Nonparametric Causality-in-Quantiles Test." (with Mehmet Balcilar and Christian Pierdzioch) (Published in ResourcesPolicy, Vol. 49(1), 2016, 74-80.)

� "Relationship between Happiness and Smoking: A Bootstrap Panel Causality Test." (TsangyaoChang, Hsiao-Ping Chu and Frederick W. Deale) (Published in Journal of Happiness Studies,Vol. 17(3), 2016, 1327-1336.)

� "On International Uncertainty Links: BART-Based Empirical Evidence for Canada." (withChristian Pierdzioch and Marian Risse) (Published in Economics Letters, Vol. 143(1), 2016,24-27.)

� "The Nonparametric Relationship between Oil and South African Agricultural Prices." (withAhdi N. Ajmi, Monique Kruger, Nicola Schoeman and Leone Walters) (Published in EconomiaInternazionale/International Economics, Vol. 69(2), 2016, 91-110.)

� "Can Debt Ceiling and Government Shutdown Predict US Real Stock Returns? A BootstrapRolling-Window Approach." (with Goodness C. Aye, Mehmet Balcilar, Ghassen El Montasserand Nangamso C. Manjezi) (Published in Economia Internazionale/International Economics,Vol. 69(1), 2016, 11-31.)

� "Characterising the South African Business Cycle: Is GDP Di¤erence-Stationary or Trend-Stationary in a Markov-Switching Setup?" (with Mehmet Balcilar, Charl Jooste and OmidRanjbar) (Published in Economia Internazionale/International Economics, Vol. 69(1), 2016,32-43.)

� "A Historical Analysis of the US Stock Price Index using Empirical Mode Decomposition over1791-2015." (with Aviral K. Tiwari, Arif B. Dar and Niyati Bhanja) (Published in Economics:The Open-Access, Open-Assessment E-Journal, 10 (2016-9), 1-15.)

� �The Causal Relationship between Economic Policy Uncertainty and Stock Returns in Chinaand India: Evidence from a Bootstrap Rolling-Window Approach." (with Xiao-lin Li, MehmetBalcilar and Tsangyao Chang) (Published in Emerging Markets Finance and Trade, Vol.52(3), 2016, 674-689.)

� "Technical E¢ ciency of Connecticut Long Island Sound Lobster Fishery: A Nonparamet-ric Approach to Aggregate Frontier Analysis." (with Lei Chen, Zinnia Mukherjee and PeterWanke) (Published in Natural Hazards, Vol. 81(3), 2016, 1533-1548.)

32

� "Forecasting South African In�ation Using Non-Linear Models: A Weighted Loss-Based Eval-uation." (with Patrick T. Kanda, Mehmet Balcilar and Pejman Bahramian) (Published inApplied Economics, Vol. 48(26), 2016, 2412-2427.)

� "Forecasting Crude Oil Price Volatility and Value-at-Risk: Evidence from Historical and Re-cent Data." (with Thomas Lux and Mawuli K. Segnon) (Published in Energy Economics,Vol. 56(1), 2016, 117-133.)

� "South African Stock Returns Predictability using Domestic and Global Economic Policy Un-certainty: Evidence from a Nonparametric Causality-in-Quantiles Approach." (with MehmetBalcilar and Clement Kyei) (Published in Frontiers in Finance and Economics, Vol. 13(1),2016, 10-37.)

� "On Economic Uncertainty, Stock Market Predictability and Nonlinear Spillover E¤ects."(with Stelios Bekiros and Clement Kyei) (Published in North American Journal of Economicsand Finance, Vol. 36(1), 2016, 184-191.)

� "Does Economic Policy Uncertainty Predict Exchange Rate Returns and Volatility? Evidencefrom a Nonparametric Causality-in-Quantiles Test." (with Mehmet Balcilar, Clement Kyeiand Mark E. Wohar) (Published in Open Economies Review, Vol. 27(2), 2016, 229-250.)

� "Linkages between Financial Sector CDS Spreads and Macroeconomic In�uence in a Nonlin-ear Setting." (with Amine Lahiani and Shawkat Hammoudeh) (Published in InternationalReview of Economics and Finance, Vol. 43(1), 2016, 443-456.)

� "Research Output and Economic Growth in G7 Countries: New Evidence from AsymmetricPanel Causality Testing." (with Abdulnasser Hatemi-J, Ahdi N. Ajmi, Ghassen El Montasserand Roula Inglesi-Lotz) (Published in Applied Economics, Vol. 48(24), 2016, 2301-2308.)

� "Is Gold an In�ation-Hedge? Evidence from an Interrupted Markov-Switching CointegrationModel." (with Goodness C. Aye and Tsangyao Chang) (Published in Resources Policy, Vol.48(1), 2016, 77-84.)

� �Evolution of Monetary Policy in the US: The Role of Asset Prices." (with Beatrice D.Simo-Kengne, Stephen M. Miller and Mehmet Balcilar) (Published in Journal of Real EstateFinance and Economics, Vol. 52(3), 2016, 226�243.)

� "Uncertainty and Crude Oil Returns." (with Riadh Aloui and Stephen M. Miller) (Publishedin Energy Economics, Vol. 55(1), 2016, 92-100.)

� "Forecasting the South African In�ation Rate: On Asymmetric Loss and Forecast Rational-ity." (with Christian Pierdzioch and Monique B. Reid) (Published in Economic Systems, Vol.40(1), 2016, 82-92.)

� "Analysing South Africa�s In�ation Persistence Using an ARFIMA Model with Markov-Switching Fractional Di¤erencing Parameter." (with Mehmet Balcilar and Charl Jooste)(Published in Journal of Developing Areas, Vol. 50(1), 2016, 47�58.)

� "Convergence in U.S. Metropolitan Statistical Areas." (with Ghassen El Montasser and DevonSmithers) (Published in Economics, Management, and Financial Markets, Vol. 11(4), 2016,11�32.)

33

� "Is the Rand Really Decoupled from Economic Fundamentals?" (with Mehmet Balcilar andCharl Jooste) (Published in Journal of Economic Studies, Vol. 43(1), 2016, 108�121.)

� "Modeling Persistence of Carbon Emission Allowance Prices." (with Luis A. Gil-Alana andFernando Perez de Gracia) (Published in Renewable and Sustainable Energy Reviews, Vol.55(1), 2016, 221�226.)

� �The Causal Relationship between Natural Gas Consumption and Economic Growth: Evidencefrom the G7 Countries." (with Tsangyao Chang, Roula Inglesi-Lotz, Lilian S. Masabala,Beatrice D. Simo-Kengne and Jaco P. Weideman) (Published in Applied Economics Letters,Vol. 23(1), 2016, 38�46.)

� "Time-Frequency Relationship between U.S. Output with Commodity and Asset Prices." (withAviral K. Tiwari and Claudiu T. Albulescu) (Published in Applied Economics, Vol. 48(3),2016, 227�242.)

� "Real Estate Markets and Uncertainty Shocks: A Variance Causality Approach." (with AhdiN. Ajmi, Vassilios Babalos and Fotini Economou) (Published in Frontiers in Finance andEconomics, Vol. 12(2), 2015, 56-85.)

� "Time-Varying Causality between Oil and Commodity Prices in the Presence of StructuralBreaks and Nonlinearity." (with Gbeada Josiane Seu Epse Kean, Mpho Asnath Tsebe,Nthabiseng Tsoanamatsie and João Ricardo Sato) (Published in Economia Internazionale/InternationalEconomics, Vol. LXVIII(4), 2015, 469-491.)

� "Does the Price of Oil Help Predict In�ation in South Africa? Historical Evidence Usinga Frequency Domain Approach." (with Patrick T. Kanda) (Published in Economia Inter-nazionale/International Economics, Vol. LXVIII(4), 2015, 451-467.)

� "Causal Link between Oil Price and Uncertainty in India." (with Ghassen El Montasser,Kenza Aggad, Louise Clark and Shannon Kemp) (Published in Economia Internazionale/InternationalEconomics, Vol. LXVIII(4), 2015, 437-450.)

� �The Dynamic Relationship between House Prices and Output: Evidence from US Metropol-itan Statistical Areas." (with Nicholas Apergis, Beatrice D. Simo-Kengne and TsangyaoChang) (Published in International Journal of Strategic Property Management, Vol. 19(4),2015, 336-345.)

� "Comovement in Euro Area Housing Prices: A Fractional Cointegration Approach." (withChristophe Andre and Luis A. Gil-Alana) (Published in Urban Studies, Vol. 52(16), 2015,3123-3143.)

� "Is there an Environmental Kuznets Curve for South Africa? A Co-Summability ApproachUsing a Century of Data." (with Adnen Ben Nasr and Joao R. Sato) (Published in EnergyEconomics, Vol. 52(Part A), 2015, 136-141.)

� "Revisiting Herding Behavior in REITS: A Regime-Switching Approach." (with Vassilios Ba-balos and Mehmet Balcilar) (Published in Journal of Behavioral and Experimental Finance,Vol. 8(1), 2015, 40-43.)

34

� "Do Commodities Herd? Evidence from a Time-Varying Stochastic Volatility Model." (withVassilios Babalos and Stavros Stavroyiannis) (Published in Resources Policy, Vol. 46(2), 2015,281-287.)

� �Convergence of Greenhouse Gas Emissions among G7 Countries." (with Ghassen El-Montasserand Roula Inglesi-Lotz) (Published in Applied Economics, Vol. 47(60), 2015, 6543-6552.)

� �The Causal Relationship between Renewable Energy Consumption and Economic Growth:Evidence from the G7 Countries." (with Tsangyao Chang, Roula Inglesi-Lotz, Beatrice D.Simo-Kengne, Devon Smithers and Amy B. Trembling) (Published in Renewable and Sus-tainable Energy Reviews, Vol. 52(1), 2015, 1405-1412.)

� "Are there Multiple Bubbles in the Ethanol-Gasoline Price Ratio of Brazil?" (with Ghassen ElMontasser, Andre Luis Martins and Peter Wanke) (Published in Renewable and SustainableEnergy Reviews, Vol. 52(1), 2015, 19-23.)

� "Trends and Cycles in Historical Gold and Silver Prices." (with Luis A. Gil-Alana and Good-ness C. Aye) (Published in Journal of International Money and Finance, Vol. 58(1), 2015,98-109.)

� �Causality between US Economic Policy and Equity Market Uncertainties: Evidence fromLinear and Nonlinear Tests." (with Ahdi N. Ajmi, Goodness C. Aye, Mehmet Balcilar andGhassen El Montasser) (Published in Journal of Applied Economics, Vol. XVIII(2), 2015,225-246.)

� "Forecasting the Price of Gold Using Dynamic Model Averaging." (with Goodness C. Aye,Shawkat Hammoudeh and Won Joong Kim) (Published in International Review of FinancialAnalysis, Vol. 41(1), 2015, 257-266.)

� "Forecasting US Real House Price Returns over 1831-2013: Evidence from Copula Models."(Anandamayee Majumdar) (Published in Applied Economics, Vol. 47(48), 2015, 5204-5213.)

� �Volatility Transmission between Islamic and Conventional Equity Markets: Evidence fromCausality-in-Variance Test." (with Saban Nazlioglu and Shawkat Hammoudeh) (Publishedin Applied Economics, Vol. 47(46), 2015, 4996-5011.)

� "Energy E¢ ciency of Selected OECD Countries: A Slacks Based Model with UndesirableOutputs." (with Nicholas Apergis, Goodness C. Aye, Carlos P. Barros and Peter Wanke)(Published in Energy Economics, Vol. 51(1), 2015, 45-53.)

� "Causality between In�ation and In�ation Uncertainty in South Africa: Evidence from aMarkov-Switching Vector Autoregressive Model." (with Adnen Ben Nasr, Mehmet Balcilar,Ahdi N. Ajmi, Goodness C. Aye and Renee van Eyden) (Published in Emerging MarketsReview, Vol. 24(1), 2015, 46-68.)

� "Forecasting the Price of Gold." (with Hossein Hassani, Emmanuel S. Silva and Mawuli K.Segnon) (Published in Applied Economics, Vol. 47(39), 2015, 4141-4152.)

� �The Macroeconomic E¤ects of Uncertainty Shocks in India." (with Lumengo Bonga-Bongaand Charl Jooste) (Published in Economia Internazionale/International Economics, Vol. LXVIII(3),2015, 373�383.)

35

� "The Asymmetric E¤ect of Oil Price on Growth across US States." (with Nicholas Apergis,Alper Aslan and Goodness C. Aye) (Published in Energy Exploration and Exploitation, Vol.33(4), 2015, 575-590.)

� "Are there Long-Run Diversi�cation Gains from the Dow Jones Islamic Finance Index?"(with Mehmet Balcilar, Charl Jooste, Shawkat Hammoudeh and Vassilios Babalos) (Publishedin Applied Economics Letters, Vol. 22(12), 2015, 945-950.)

� "Oil Prices and Financial Stress: A Volatility Spillover Analysis." (with Saban Nazlioglu andUgur Soytas) (Published in Energy Policy, Vol. 82(1), 2015, 278-288.)

� �Identifying an Index of Financial Conditions for South Africa." (with Kirsten Thompsonand Renee van Eyden) (Published in Studies in Economics and Finance, Vol. 32(2), 2015,256-274.)

� �Revisiting the Causality between Electricity Consumption and Economic Growth in SouthAfrica: A Bootstrap Rolling-Window Approach." (with Janneke Dlamini, Mehmet Balcilarand Roula Inglesi-Lotz) (Published in International Journal of Economic Policy in EmergingEconomies, Vol. 8(2), 2015, 169-190.)

� "Do Stock Prices Impact Consumption and Interest Rate in South Africa? Evidence from aTime-Varying Vector Autoregressive Model." (with Goodness C. Aye and Mampho P. Modise)(Published in Journal of Emerging Market Finance, Vol. 14(2), 2015, 1-21.)

� "Oil Price Forecastability and Economic Uncerainty." (with Stelios Bekiros and Alessia Paccagnini)(Published in Economics Letters, Vol. 132(1), 2015, 125-128.)

� "US In�ation Dynamics on Long Range Data." (with Vasilios Plakandaras, Perikilis Gogasand Theophilos Papadimitriou) (Published in Applied Economics, Vol. 47(36), 2015, 3874-3890.)

� "House Prices and Balance of Trade Dynamics in South Africa: Evidence from an AgnosticIdenti�cation Procedure." (with Beatrice D. Simo-Kengne and Goodness C. Aye) (Publishedin Journal of Housing Research, Vol. 24(1), 2015, 107-126.)

� "Forecasting Indian Macroeconomic Variables Using Medium-Scale VAR Models." (with Good-ness C. Aye and Pami Dua) (Published in Current Trends in Bayesian Methodology withApplications, Edited by: Satyanshu K. Upadhyay, Umesh Singh, Dipak K. Dey, Appaia Lo-ganathan, Chapter 2, 37-57.)

� �The Co-Movement and Causality between the U.S. Real Estate and Stock Markets in theTime and Frequency Domains." (with Tsangyao Chang, Xiao-lin Li, Stephen M. Miller andMehmet Balcilar) (Published in International Review of Economics and Finance, Vol. 38(1),2015, 220-233.)

� "Temporal Causality between House Prices and Output in the U.S.: A Bootstrap Rolling-Window Approach." (with Wendy Nyakabawo, Stephen M. Miller, Mehmet Balcilar and Son-ali Das) (Published in North American Journal of Economics and Finance, Vol. 33(1), 2015,55-73.)

36

� "Are Stock Prices Related to Political Uncertainty Index in OECD Countries? Evidence fromBootstrap Panel Causality Test." (with Tsangyao Chang, Wen-Yi Chen and Duc K. Nguyen)(Published in Economic Systems, Vol. 39(2), 2015, 288-300.)

� "Can We Beat the Random-Walk Model for the South African Rand�U.S. Dollar and SouthAfrican Rand�UK Pound Exchange Rates? Evidence from Dynamic Model Averaging." (withRiane de Bruyn and Renee van Eyden) (Published in Emerging Markets Finance and Trade,Special Issue: Emerging Economies: Business Cycles, Growth, and Policy, Vol. 51(3), 2015,502-524.)

� �Testing the Out-of-Sample Forecasting Ability of a Financial Conditions Index for SouthAfrica." (with Kirsten Thompson and Renee van Eyden) (Published in Emerging MarketsFinance and Trade, Special Issue: Emerging Economies: Business Cycles, Growth, and Policy,Vol. 51(3), 2015, 486-501.)

� "Convergence in Provincial-Level South African House Prices: Evidence from the Club Con-vergence and Clustering Procedure." (with Nicholas Apergis and Beatrice D. Simo-Kengne)(Published in Review of Urban and Regional Development Studies, Vol. 27(1), 2015, 2-17.)

� "Oil Price and Consumer Price Nexus in South Africa Revisited: A Novel AsymmetricCausality Approach." (with Ahdi N. Ajmi, Vassilios Babalos and Roulof Hefer) (Published inEnergy Exploration and Exploitation, Vol. 33(1), 2015, 63-74.)

� �Testing the Impact of Exchange Rate Uncertainty on Exports in South Africa." (with Good-ness C. Aye, Prudence S. Moyo and Nehrunaman Pillay) (Published in Journal of Interna-tional Commerce, Economics and Policy, Vol. 6(1), 2015, 1550004(1-14).)

� "Predicting Stock Returns and Volatility Using Consumption-Aggregate Wealth Ratios: ANonlinear Approach." (with Stelios Bekiros) (Published in Economics Letters, Vol. 131(1),2015, 83-85.)

� "Was the Recent Downturn in US Real GDP Predictable?" (with Mehmet Balcilar, Anan-damayee Majumdar and Stephen M. Miller) (Published in Applied Economics, Vol. 47(28),2015, 2985-3007.)

� "Dynamic Co-movements between Economic Policy Uncertainty and Housing Market Re-turns." (with Nikolaos Antonakakis and Christophe Andre) (Published in Journal of RealEstate Portfolio Management, Vol. 21(1), 2015, 53-60.)

� "Persistence in Precious Metal Prices: A Fractional Integration Approach with StructuralBreaks." (with Luis A. Gil-Alana, Shinhye Chang, Mehmet Balcilar and Goodness C. Aye)(Published in Resources Policy, Vol. 44(1), 2015, 57-64.)

� "Regime Switching Model of US Crude Oil and Stock Market Prices: 1859-2013." (withMehmet Balcilar and Stephen M. Miller) (Published in Energy Economics, Vol. 49(1), 2015,317-327.)

� "Do we Need a Global VAR Model to Forecast In�ation and Output in South Africa?" (withAnnari De Waal and Renee van Eyden) (Published in Applied Economics, Vol. 47(25), 2015,2649-2670.)

37

� "The Out-of-Sample Forecasting Performance of Non-Linear Models of Regional HousingPrices in the US." (with Mehmet Balcilar and Stephen M. Miller) (Published in AppliedEconomics, Vol. 47(22), 2015, 2259-2277.)

� "Time-Varying E¤ects of Housing and Stock Prices on U.S. Consumption." (with BeatriceD. Simo-Kengne, Stephen M. Miller and Goodness C. Aye) (Published in Journal of RealEstate Finance and Economics, Vol. 50(3), 2015, 339-354.)

� "Has Oil Price Predicted Stock Returns for Over a Century?" (with Paresh K. Narayan)(Published in Energy Economics, Vol. 48(1), 2015, 18-23.)

� �Panel Granger Causality between Oil Consumption and GDP: Evidence from the BRICSCountries." (with Tsangyao Chang, Olorato Gadinabokao, Roula Inglesi-Lotz, Pervan Kan-niah and Beatrice D. Simo-Kengne) (Published in International Journal of Sustainable Econ-omy, Vol. 7(1), 2015, 30-41.)

� �Causality between Exports and Economic Growth in South Africa: Evidence from Linear andNonlinear Tests." (with Ahdi N. Ajmi, Goodness C. Aye and Mehmet Balcilar) (Publishedin Journal of Developing Areas, Vol. 49(2), 2015, 163-181.)

� �Do Sunspot Numbers Cause Global Temperatures? Evidence from Frequency Domain Causal-ity Test." (with Luis A. Gil-Alana, OlaOluwa S. Yaya) (Published in Applied Economics, Vol.47(8), 2015, 798-808.)

� "Forecasting the U.S. Real House Price Index." (with Vasilios Plakandaras, Periklis Gogasand Theophilos Papadimitriou) (Published in Economic Modelling, Vol. 45(1), 2015, 259-267.)

� "Forecasting Aggregate Retail Sales: The Case of South Africa." (with Goodness C. Aye,Mehmet Balcilar and Anandamayee Majumdar) (Published in International Journal of Pro-duction Economics, Vol. 160(1), 2015, 66-79.)

� �Causality between Research Output and Economic Growth in BRICS." (with Roula Inglesi-Lotz and Tsangyao Chang) (Published in Quality and Quantity, Vol. 49(1), 2015, 167-176.)

� "Forecasting Maroeconomic Data for an Emerging Market with a Nonlinear DSGE Model."(with Mehmet Balcilar and Kevin Kotze) (Published in Economic Modelling, Vol. 44(1),2015, 215�228.)

� �DSGE Model-Based Forecasting of Modeled and Non-Modeled In�ation Variables in SouthAfrica." (with Patrick T. Kanda, Mampho P. Modise and Alessia Paccagnini) (Published inApplied Economics, Vol. 47(3), 2015, 207-221.)

� "Are House Prices in South Africa Really Non-Stationary? Evidence from SPSM-Based PanelKSS Test with a Fourier Function." (with Tsangyao Chang and Tsung-pao Wu) (Publishedin Applied Economics, Vol. 47(1), 2015, 32�53.)

� �Forecasting Real House Price of the U.S.: An Analysis Covering 1890 to 2012." (withGoodness C. Aye) (Pubished in Journal of Economic Computation and Economic CybernaticsStudies and Research, Vol. 48(3), 2014, 100�116.)

38

� "Macro Shocks and House Prices in South Africa." (with Beatrice D. Simo-Kengne andGoodness C. Aye) (Published in Journal of Real Estate Portfolio Management, Vol. 20(3),2014, 179�193.)

� "Is the South African Reserve Bank In�uenced by Exchange Rates when Setting InterestRates?" (with Charl Jooste) (Published in Banks and Bank Systems, Vol. 9(3), 2014, 32�36.)

� �Can Economic Uncertainty, Financial Stress and Consumer Sentiments Predict U.S. EquityPremium?" (with Shawkat Hammoudeh, Mampho P. Modise and Duc K. Nguyen) (Publishedin Journal of International Financial Markets, Institutions and Money, Vol. 33(1), 2014, 367�378.)

� �Military Expenditure, Economic Growth and Structural Instability: A Case Study of SouthAfrica." (with Goodness C. Aye, Mehmet Balcilar, Paul J. Dunne and Renee van Eyden)(Published in Defence and Peace Economics, Vol. 25(6), 2014, 619-633.)

� �Persistence and Cycles in Historical Oil Prices Data." (with Luis A. Gil-Alana) (Publishedin Energy Economics, Vol. 45(C), 2014, 511-516.)

� "Dutch Disease E¤ect of Oil Rents on Agriculture Value Added in MENA Countries." (withNicholas Apergis, Ghassen El Montasser, Emmanuel Owusu-Sekyere and Ahdi N. Ajmi) (Pub-lished in Energy Economics, Vol. 45(C), 2014, 485-490.)

� �Time-Varying Linkages between Tourism Receipts and Economic Growth in South Africa."(with Mehmet Balcilar, Renee van Eyden and Roula Inglesi-Lotz) (Published in AppliedEconomics, Vol. 46(36), 2014, 4381�4398.)

� "The Causal Relationship between House Prices and Economic Growth in the Nine Provincesof South Africa: Evidence from Panel-Granger Causality Tests." (with Tsangyao Chang andBeatrice D. Simo-Kengne) (Published in International Journal of Sustainable Economy, Vol.6(4), 2014, 345�358.)

� "Intertemporal Portfolio Allocation and Hedging Demand: An Application to South Africa."(with Esti van Wyk de Vries and Renee van Eyden) (Published in Journal of Business Eco-nomics and Management, Vol. 15(4), 2014, 744-775.)

� �Causal Relationship between Nuclear Energy Consumption and Economic Growth in the G6Couintries: Evidence from Panel Granger Causality Tests." (with Tsangyao Chang, Fab-rice Gatwabuyege, Roula Inglesi-Lotz, Nangamso C. Manjezi and Beatrice D. Simo-Kengne)(Published in Progress in Nuclear Energy, Vol. 77(1), 2014, 187-193.)

� "Predicting BRICS Stock Returns Using ARFIMA Models." (with Goodness C. Aye, MehmetBalcilar, Nicholas Kilimani, Amandine Nakumuryango and Siobhan Redford) (Published inApplied Financial Economics, Vol. 24(17), 2014, 1159-1166.)

� �Can the Sharia-Based Islamic Stock Market Returns be Forecasted Using Large Number ofPredictors and Models?" (with Shawkat Hammoudeh, Beatrice D. Simo-Kengne and Sood-abeh Sarafrazi) (Published in Applied Financial Economics, Vol. 24(17), 2014, 1147-1157.)

39

� �Detecting Predictable Non-linear Dynamics in Dow Jones Industrial Average and Dow JonesIslamic Market Indices using Nonparametric Regressions." (with Marcos Alvarez-Diaz andShawkat Hammoudeh) (Published in North American Journal of Economics and Finance,Vol. 29(1), 2014, 22-35.)

� "Causality between Economic Policy Uncertainty across Countries: Evidence from Linearand Nonlinear Tests." (with Ahdi N. Ajmi and Patrick T. Kanda) (Published in Frontiers inFinance and Economics, Vol. 11(1), 2014, 73-102.)

� �Modeling the Volatility of the Dow Jones Islamic Market World Index Using a FractionallyIntegrated Time Varying GARCH (FITVGARCH) Model." (with Adnen Ben Nasr and AhdiN. Ajmi) (Published in Applied Financial Economics, Vol. 24(14), 2014, 993-1004.)

� "The Causal Relationship between Imports and Economic Growth in the Nine Provinces ofSouth Africa: Evidence from Panel-Granger Causality Tests." (with Tsangyao Chang andBeatrice D. Simo-Kengne) (Published in Journal of Economic Cooperation and Development,Vol. 35(2), 2014, 71-90.)

� "The Long-Run Relationship between Consumption, House Prices and Stock Prices in SouthAfrica: Evidence from Provincial-Level Data." (with Nicholas Apergis and Beatrice D. Simo-Kengne) (Published in Journal of Real Estate Literature, Vol. 22(1), 2014, 83-99.)

� �Time-Varying Causality between Research Output and Economic Growth in the US." (withRoula Inglesi-Lotz and Mehmet Balcilar) (Published in Scientometrics, Vol. 100(1), 2014,203-216.)

� "Fiscal Policy Shocks and the Dynamics of Asset Prices: The South African Experience."(with Goodness C. Aye, Mehmet Balcilar, Charl Jooste, Stephen M. Miller and Zeynel AbidinOzdemir) (Published in Public Finance Review, Vol. 42(4), 2014, 511-531.)

� "Using Large Data Sets to Forecast Sectoral Employment." (with Alain Kabundi, Stephen M.Miller and Josine Uwilingiye) (Published in Statistical Methods and Applications, Vol. 23(2),2014, 229-264.)

� "Housing and the Business Cycle in South Africa." (with Goodness C. Aye, Mehmet Balcilarand Adel Bosch) (Published in Journal of Policy Modeling, Vol. 36(3), 2014, 471-491.)

� "Housing and the Great Depression." (with Mehmet Balcilar and Stephen M. Miller) (Pub-lished in Applied Economics, Vol. 46(24), 2014, 2966-2981.)

� �Forecasting China�s Foreign Exchange Reserves Using Dynamic Model Averaging: The Roleof Macroeconomic Fundamentals, Financial Stress and Economic Uncertainty." (with ShawkatHammoudeh, Won Joong Kim and Beatrice D. Simo-Kengne) (Published in North AmericanJournal of Economics and Finance, Vol. 28(2), 2014, 170-189.)

� "Reconsidering the Welfare Cost of In�ation in the US: A Nonparametric Estimation of theNonlinear Long-Run Money Demand Equation using Projection Pursuit Regressions." (withAnandamayee Majumdar) (Published in Empirical Economics, Vol. 46(4), 2014, 1221-1240.)

40

� "A Time-Varying Approach to Analysing Fiscal Policy and Asset Prices in South Africa."(with Charl Jooste and Kanyane Matlou) (Published in Journal of Financial Economic Policy,Vol. 6(1), 2014, 46-63.)

� "Testing for Persistence in Housing Price-to-Income and Price-to-Rent Ratios in 16 OECDCountries." (with Christophe Andre and Luis A. Gil-Alana) (Published in Applied Economics,Vol. 46(18), 2014, 2127-2138.)

� �Oil Price Uncertainty and Manufacturing Production." (with Goodness C. Aye, VincentDadam and Bonginkosi Mamba) (Published in Energy Economics, Vol. 43(1), 2014, 41-47.)

� "Tax Evasion, Financial Development and In�ation: Theory and Empirical Evidence." (withManoel Bittencourt and Lardo Stander) (Published in Journal of Banking and Finance, Vol.41(1), 2014, 194-208.)

� "Real Interest Rate Persistence in South Africa: Evidence and Implications." (with SonaliDas, Patrick T. Kanda, Monique Reid, Christian K. Tipoy and Mulatu F. Zerihun) (Publishedin Economic Change and Restructuring, Vol. 47(1), 2014, 41-62.)

� "Financial Variables and the Out-of-Sample Forecastability of the Growth Rate of IndianIndustrial Production." (with Yuxiang Ye and Christopher Sako) (Published in Technologicaland Economic Development of Economy, Vol. 20(Supplement 1), 2014, S103-S119.)

� �The Nexus of Electricity Consumption, Economic Growth and CO2 Emissions in the BRICSCountries." (with Wendy N. Cowan, Tsangyao Chang and Roula Inglesi-Lotz) (Published inEnergy Policy, Vol. 66(1), 2014, 359-368.)

� "Predictive Ability of Competing Models for South Africa�s Fixed Business Non-ResidentialInvestment Spending." (with Renee van Eyden and Goodness C. Aye) (Published in Journalof Economic Computation and Economic Cybernatics Studies and Research, Vol. 47(4), 2013,87-108.)

� "The Role of Asset Prices in Forecasting In�ation and Output in South Africa." (with FaaiqaHartley) (Published in Journal of Emerging Market Finance, Vol. 12(3), 2013, 239-291.)

� "Testing for Persistence with Breaks and Outliers in South African House Prices." (withLuis A. Gil-Alana and Goodness C. Aye) (Published in Journal of Real Estate Literature,Vol. 21(2), 2013, 293-314.)

� "The Impact of House Prices on Consumption in South Africa: Evidence from Provincial-Level Panel VARs." (with Beatrice D. Simo-Kengne and Manoel Bittencourt) (Published inHousing Studies, Vol. 28(8), 2013, 1133-1154.)

� "Does the Source of Oil Price Shocks Matter for South African Stock Returns? A StructuralVAR Approach." (with Mampho P. Modise) (Published in Energy Economics, Vol. 40(1),2013, 825-831.)

� "The Causal Relationship between Exports and Economic Growth in the Nine Provinces ofSouth Africa: Evidence from Panel-Granger Causality Tests." (with Tsangyao Chang andBeatrice D. Simo-Kengne) (Published in International Journal of Economic Policy in Emerg-ing Economies, Vol 6(3), 2013, 296-310.)

41

� "Long- and Short-Run Relationships between House and Stock Prices in South Africa: A Non-parametric Approach." (with Goodness C. Aye and Mehmet Balcilar) (Published in Journalof Housing Research, Vol. 22(2), 2013, 203-219.)

� "House Price, Stock Price and Consumption in South Africa: A Structural VAR Approach."(with Goodness C. Aye, Alain Kaninda, Wendy Nyakabawo and Aarifah Razak) (Publishedin Corporate Ownership and Control, Vol. 10(2), 2013, 585-589.)

� "The Long-Run Impact of In�ation in South Africa." (with Kafayat Amusa, Shaakira Karoliaand Beatrice D. Simo-Kengne) (Published in Journal of Policy Modeling, Vol. 35(5), 2013,798-812.)

� "Forecasting House Prices for the Four Census Regions and the Aggregate US Economy in aData-Rich Environment." (Published in Applied Economics, Vol. 45(33), 2013, 4677-4697.)

� "Structural Breaks and Predictive Regressions Models of South African Equity Premium."(with Goodness C. Aye and Mampho P. Modise) (Published in Frontiers in Finance andEconomics, Vol. 10(1), 2013, 49-86.)

� "Macroeconomic Surprises and Stock Returns in South Africa." (with Monique Reid) (Pub-lished in Studies in Economics and Finance, Vol. 30(3), 2013, 266-282.)

� "The Long-Run Relationship between House Prices and In�ation in South Africa: An ARDLApproach." (with Roula Inglesi-Lotz) (Published in International Journal of Strategic Prop-erty Management, Vol. 17(2), 2013, 189-199.)

� "The Out-of-Sample Forecasting Performance of Non-Linear Models of Real Exchange RateBehaviour: The Case of the South African Rand." (with Goodness C. Aye, Mehmet Bal-cilar, Adel Bosch and Francois Stofberg) (Published in European Journal of ComaparativeEconomics, Vol. 10(1), 2013, 121-148.)

� "Metropolitan House Prices in India: Do they Converge?" (with Goodness C. Aye and SamratGoswami) (Published in Regional and Sectoral Economic Studies, Vol. 13(1), 2013, 135-144.)

� "Forecasting Key Macroeconomic Variables of the South African Economy: A Small OpenEconomy New Keynesian DSGE-VAR Model." (with Rudi Steinbach) (Published in EconomicModelling, Vol. 33(1), 2013, 19-33.)

� "Should the South African Reserve Bank Respond to Exchange Rate Fluctuations? Evi-dence from the Cosine-Squared Cepstrum." (Published in Actual Problems of Economics,Vol. 2(140), 2013, 198-206.)

� ""Ripple" E¤ects in South African House Prices." (with Mehmet Balcilar, Abebe D. Beyeneand Monaheng Seleteng) (Published in Urban Studies, Vol. 50(5), 2013, 876-894.)

� "Forecasting Nevada Gross Gaming Revenue and Taxable Sales Using Coincident and LeadingEmployment Indexes." (with Mehmet Balcilar, Anandamayee Majumdar and Stephen M.Miller) (Published in Empirical Economics, Vol. 44(2), 2013, 387-417.)

� "Testing the Monetary Model for Exchange Rate Determination in South Africa: Evidencefrom a 101 Years of Data." (with Riane de Bruyn and Lardo Stander) (Published in Con-temporary Economics, Vol. 7(1), 2013, 19-32.)

42

� "Is the Relationship between Monetary Policy and House Prices Asymmetric Across Bull andBear Markets in South Africa? Evidence from a Markov-Switching Vector AutoregressiveModel." (with Beatrice D. Simo-Kengne, Mehmet Balcilar, Monique Reid and Goodness C.Aye) (Published in Economic Modelling, Vol. 32(1), 2013, 161-171.)

� "Macroeconomic Variables and South African Stock Return Predictability." (with MamphoP. Modise) (Published in Economic Modelling, Vol. 30(1), 2013, 612-622.)

� "Do House Prices Impact Consumption and Interest Rate? Evidence from OECD Countriesusing an Agnostic Identi�cation Procedure." (with Christophe Andre and Patrick T. Kanda)(Published in Applied Economics Quarterly, Vol. 58(1), 2012, 19-70.)

� "Do House Prices Impact Consumption and Interest Rate in South Africa? Evidence from aTime-Varying Vector Autoregressive Model." (with Vittorio Peretti and Roula Inglesi-Lotz)(Published in Economics, Management and Financial Markets, Vol. 7(4), 2012, 101-120.)

� "Macro Shocks and Real US Stock Prices with Special Focus on the �Great Recession"." (withRoula Inglesi-Lotz) (Published in Applied Econometrics and International Development, Vol.12(2), 2012, 123-136.)

� "The Long-Run Relationship between In�ation and Real Stock Prices: Empirical Evidencefrom South Africa." (with Riona Arjoon, Mariette Botes and Laban K. Chesang) (Publishedin Journal of Business Economics and Management, Vol. 13(4) , 2012, 600-613.)

� "Structural Breaks and GARCH Models of Stock Return Volatility: The Case of South Africa."(with Ali Babikir, Chance Mwambutwa and Emmanuel Owusu-Sekyere) (Published in Eco-nomic Modelling, Vol. 29(6), 2012, 2435-2443.)

� "Forecasting Key Macroeconomic Variables of the South African Economy Using BayesianVariable Selection." (with Mirriam Chitalu Chama-Chiliba, Nonophile Nkambule and NaomiTlotlego) (Published in Journal of Applied Sciences, Vol. 12(7), 2012, 645-652.)

� "The E¤ects of Monetary Policy on Real Farm Prices in South Africa." (with Goodness C.Aye) (Published in Regional and Sectoral Economic Studies, Vol. 12(1), 2012, 147-158.)

� "Valuation Ratios and Stock Price Predictability in South Africa: Is it there?" (with MamphoP. Modise) (Published in Emerging Markets Finance and Trade, Vol. 48(1), 2012, 70-82.)

� "Are the E¤ects of Monetary Policy Asymmetric in India? Evidence from a Nonlinear VectorAutoregression Approach." (with Goodness C. Aye) (Published in Trends in Applied SciencesResearch, Vol. 7(7), 2012, 565-571.)

� �"Ripple" E¤ects and Forecasting Home Prices in Los Angeles, Las Vegas and Phoenix." (withStephen M. Miller) (Published in Annals of Regional Science, Vol. 48(3), 2012, 763-782.)

� "House Prices and Economic Growth in South Africa: Evidence from Provincial-Level Data."(with Beatrice D. Simo-Kengne and Manoel Bittencourt) (Published in Journal of Real EstateLiterature, Vol. 20(1), 2012, 97-117.)

� �Monetary Policy and Housing Sector Dynamics in a Large-Scale Bayesian Vector Autore-gressive Model." (with Marius Jurgilas, Alain Kabundi and Stephen M. Miller) (Published inInternational Journal of Strategic Property Management, Vol. 16(1), 2012, 1-20.)

43

� �Comparing South African In�ation Volatility across Monetary Policy Regimes: An Applica-tion of Saphe Cracking." (with Josine Uwilingiye) (Published in Journal of Developing Areas,Vol. 46(1), 2012, 46-54.)

� "South African Stock Return Predictability in the Context of Data Mining: The Role ofFinancial Variables and International Stock Returns." (with Mampho P. Modise) (Publishedin Economic Modelling, Vol. 29(3), 2012, 908-916.)

� �The Time-Series Properties on Housing Prices: A Case Study of the Southern CaliforniaMarket." (with Stephen M. Miller) (Published in Journal of Real Estate Finance and Eco-nomics, Vol. 44(3), 2012, 339-361.)

� "Financial Market Liberalization, Monetary Policy, and Housing Sector Dynamics." (withMarius Jurgilas, Stephen M. Miller and Dylan van Wyk) (Published in International Businessand Economics Research Journal, Vol. 11(1), 2012, 69-82.)

� �Forecasting Macroeconomic Variables Using Large Datasets: Dynamic Factor Model ver-sus Large-Scale BVARs" (with Alain Kabundi) (Published in Indian Economic Review, Vol.XXXXVI(1), 2011, 23-40. Published in ERSA Working Paper Series, Working Paper 143.)

� �Using Large Data Sets to Forecast Housing Prices: A Case Study of Twenty US States."(with Alain Kabundi and Stephen M. Miller) (Published in Journal of Housing Research, Vol.20(2), 2011, 161-190.)

� �Temporal Causality between Public Taxes and Public Expenditures: The Case of SouthAfrica." (with Kasai Ndahiriwe) (Published in Journal of International Business and Finance,Vol. 3(1), 2011, 43-60.)

� �The Macroeconomic Reform and the Demand for Money in India." (with Basab Dasgupta)(Published in International Business and Economics Research Journal, Vol. 10(10), 2011,1-10.)

� �A Dynamic Factor Model for Forecasting Macroeconomic Variables in South Africa." (withAlain Kabundi) (Published in International Journal of Forecasting, Vol. 27(4), 2011, 1076-1088. Published in ERSA Working Paper Series, Working Paper 137.)

� "Forecasting the US Real House Price Index: Structural and Non-Structural Models with andwithout Fundamentals." (with Alain Kabundi and Stephen M. Miller) (Published in EconomicModelling, Vol. 28(4), 2011, 2013-2021.)

� "Bubbles in South African Housing Market and their Impact on Consumption." (with SonaliDas and Patrick T. Kanda) (Published in Journal of Real Estate Literature, Vol. 19(1), 2011,69-91.)

� "An In-Sample and Out-of-Sample Empirical Investigation of the Nonlinearity in HousePrices of South Africa." (with Mehmet Balcilar and Zahra Shah) (Published in EconomicModelling, Vol. 28(3), 2011, 891-899.)

� "Production Lags and Growth Dynamics in an Overlapping Generations Endogenous GrowthModel." (Published in Journal of Applied Business Research, Vol. 27(2), 2011, 13-18.)

44

� �Growth-E¤ects of In�ation Targeting: The Role of Financial Sector Development" (Pub-lished in Annals of Economics and Finance, Vol. 12(1), 2011, 55-77.)

� �Is the Permanent Income Hypothesis Really Well-Suited for Forecasting?" (with EmmanuelZiramba) (Published in Eastern Economic Journal, Vol. 37(2), 2011, 165-177.)

� �Forecasting Regional House Price In�ation: A Comparison between Dynamic Factor Mod-els and Vector Autoregressive Models." (with Sonali Das and Alain Kabundi) (Published inJournal of Forecasting, Vol. 30(2), 2011, 288-302. Published in ERSA Working Paper Series,Working Paper 85.)

� �Currency Substitution and Financial Repression." (Published in International EconomicJournal, Vol. 25(1), 2011, 47-61. Published in ERSA Working Paper Series, Working Paper70.)

� "Could We Have Predicted the Recent Downturn in Home Sales of the Four US Census Re-gions?" (with Christian K. Tipoy and Sonali Das) (Published in Journal of Housing Research,Vol. 19(2), 2010, 111-128.)

� �Financial Liberalisation and the E¤ectiveness of Monetary Policy on House Prices in SouthAfrica" (with Kasai Ndahiriwe) (Published in ICFAI Journal of Monetary Economics, Vol.VIII(4), 2010, 59-74.)

� �Modelling Monetary Policy in South Africa: Focus on In�ation Targeting Era Using a SimpleLearning Rule." (with Ruthira Naraidoo) (Published in International Business and EconomicsResearch Journal, Vol. 9(12), 2010, 89-98.)

� �Conditional Loss Estimation Using a South African Global Error Correcting Macroecono-metric Model." (with Albert H. De Wet and Renee van Eyden) (Published in African FinanceJournal, Vol. 12(2), 2010, 24-49.)

� �The E¤ect of Monetary Policy on House Price In�ation: A Factor Augmented Vector Au-toregression (FAVAR) Approach." (with Alain Kabundi) (Published in Journal of EconomicStudies, Vol. 37(6), 2010, 616-626.)

� �Optimal Public Policy with Endogenous Mortality." (with Emmanuel Ziramba) (Publishedin Journal of Economic Policy Reform, Vol. 13(3), 2010, 241-249.)

� �Predicting Downturns in US Housing Market: A Bayesian Approach." (with Sonali Das)(Published in Journal of Real Estate Finance and Economics, Vol. 41(3), 2010, 294-319.)

� �Some Bene�ts of Reducing In�ation in South Africa." (with Josine Uwilingiye) (Publishedin International Business and Economics Research Journal, Vol. 9(9), 2010, 109-122.)

� "Evaluating the Welfare Cost of In�ation in a Monetary Endogenous Growth General Equilib-rium Model: The Case of South Africa." (with Josine Uwilingiye) (Published in InternationalBusiness and Economics Research Journal, Vol. 9(8), 2010, 101-112.)

� �Has the SARB Become More E¤ective Post In�ation Targeting?" (with Alain Kabundi andMampho P. Modise) (Published in Economic Change and Restructuring, Vol. 43(3), 2010,187-204.)

45

� �Forecasting Real US House Price: Principal Components versus Bayesian Regressions."(with Alain Kabundi) (Published in International Business and Economics Research Jour-nal, Vol. 9(7), 2010, 141-152.)

� �Misalignment in Optimal Policy Decisions under Alternative Assumptions of Tax Evasion."(with Emmanuel Ziramba) (Published in Journal of Applied Business Research, Vol. 26(3),2010, 69-79.)

� �Convergence of Metropolitan House Prices in South Africa: A Re-Examination Using E¢ -cient Unit Root Tests." (with Kaya Agu and Sonali Das) (Published in Applied Econometricsand International Development, Vol. 10(1), 2010, 173-188.)

� �Forecasting the South African Economy: A Hybrid�DSGE Approach." (with Dave Liu andEric Schaling) (Published in Journal of Economic Studies, Vol. 37(2), 2010, 181-195. Pub-lished in ERSA Working Paper Series, Working Paper 51, and CentER Discussion Papers,Discussion Paper 2008 nr. 32.)

� �Openness, Bureaucratic Corruption and Public Policy in an Endogenous Growth Model"(with Emmanuel Ziramba) (Published in International Business and Economics ResearchJournal, Vol. 9(3), 2010, 147-157.)

� "Private and Public Health Expenditures in an Endogenous Growth Model with In�ation Tar-geting." (with Cobus Vermeulen) (Published in Annals of Economics and Finance, Vol. 11(1),2010, 139-153.)

� �The Blessing of Dimensionality in Forecasting Real House Price Growth in the Nine CensusDivisions of the US." (with Sonali Das and Alain Kabundi) (Published in Journal of HousingResearch, Vol. 19(1), 2010, 89-109.)

� �The E¤ect of Defense Spending on US Output: A Factor Augmented Vector Autoregression(FAVAR) Approach." (with Alain Kabundi and Emmanuel Ziramba) (Published in Defenceand Peace Economics, Vol. 21(2), 2010, 135-147.)

� �R&D, Openness, and Growth."(with Pei-Pei Chen) (Published in South African Journal ofEconomic and Management Sciences, Vol. 13(1), 2010, 1-7.)

� �Exchange Rate Puzzles: A Review of the Recent Theoretical and Empirical Developments."(with Thabo M. Mokoena and Renee van Eyden) (Published in ICFAI Journal of MonetaryEconomics, Vol. VIII(1-2), 2010, 77-112.)

� �Dynamic Time Inconsistency and the South African Reserve Bank?" (with Josine Uwilingiye)(Published in South African Journal of Economics, Vol. 78(1), 2010, 76-88.)

� �Forecasting Macroeconomic Variables in a Small Open Economy: A Comparison betweenSmall- and Large-Scale Models." (with Alain Kabundi) (Published in Journal of Forecasting,Vol. 29(1-2: Special Issue: Advances in Business Cycle Analysis and Forecasting), 2010,168-185.)

� �Costly Tax Enforcement and Financial Repression: A Reconsideration Using an Endoge-nous Growth Model." (with Emmanuel Ziramba) (Published in International Business andEconomics Research Journal, Vol. 9(1), 2010, 129-140.)

46

� �The E¤ect of Monetary Policy on Real House Price Growth in South Africa: A FactorAugmented Vector Autoregression (FAVAR) Approach." (with Marius Jurgilas and AlainKabundi) (Published in Economic Modelling, Vol. 27(1), 2010, 315-323.)

� �Testing for Fractional Integration in SADC Real Exchange Rates." (with Thabo M. Mokoenaand Renee van Eyden) (Published in South African Journal of Economics, Vol. 77(4), 2009,531-537.)

� �Time Aggregation, Long-Run Money Demand and the Welfare Cost of In�ation." (withJosine Uwilingiye) (Published in Studies in Economics and Econometrics, Vol. 33(3), 2009,95-109.)

� �Tax Evasion and Financial Repression: A Reconsideration Using Endogenous Growth Mod-els." (with Emmanuel Ziramba) (Published in Journal of Economic Studies, Vol. 36(6), 2009,660-674. Published in ERSA Working Paper Series, Working Paper 81.)

� �Could We Have Predicted the Recent Downturn in the South African Housing Market?"(with Sonali Das and Alain Kabundi) (Published in Journal of Housing Economics, Vol.18(4), 2009, 325-335. Published in ERSA Working Paper Series, Working Paper 149.)

� �Market Microstructure Approach to the Exchange Rate Determination Puzzle." (with ThaboM. Mokoena and Renee van Eyden) (Published in ICFAI Journal of Monetary Economics,Vol. VII(3-4), 2009, 101-115.)

� �Testing for PPP Using SADC Real Exchange Rates." (with Thabo M. Mokoena and Reneevan Eyden) (Published in South African Journal of Economics, Vol. 77(3), 2009, 351-362.)

� �Financial Liberalization and a Possible Growth-In�ation Trade-O¤." (Published in IndianEconomic Review, Vol. 44(1), 2009, 1-19.)

� �An Investigation of Openness and Growth Using Panel Estimation." (with Pei-Pei Chen)(Published in Indian Journal of Economics, Vol. LXXXIX(4), 2009, 483-506.)

� �A New-Keynesian DSGE Model for Forecasting the South African Economy." (with DaveLiu and Eric Schaling) (Published in Journal of Forecasting, Vol. 28(5), 2009, 387-404.)

� �Temporal Causality between Budget De�cit and Interest Rate: The Case of South Africa."(with Josine Uwilingiye) (Published in Indian Economic Journal, Vol. 57(2), 2009, 79-96.)

� �Linking Global Economic Dynamics to a South African-Speci�c Credit Risk CorrelationModel." (with Albert H. De Wet and Renee van Eyden) (Published in Economic Modelling,Vol. 26(5), 2009, 1000-1011.)

� �Measuring the Welfare Cost of In�ation in South Africa: A Reconsideration." (with JosineUwilingiye) (Published in South African Journal of Economic and Management Sciences, Vol.12(2), 2009, 137-146.)

� "Half-Life Deviations from PPP in the SADC." (with Thabo M. Mokoena and Renee vanEyden) (Published in Applied Econometrics and International Development, Vol. 9(1), 2009,141-148.)

47

� �Time Aggregation and the Contradictions with Causal Relationships: Can Economic TheoryCome to the Rescue?" (with Kibii Komen) (Published in Studies in Economics and Econo-metrics, Vol. 33(1), 2009, 13-24.)

� �Bayesian Methods of Forecasting Inventory Investment in South Africa." (Published in SouthAfrican Journal of Economics, Vol. 77(1), 2009, 113-126.)

� �An Endogenous Growth Model of a Financially Repressed Small Open Economy" (with Sam-rat Goswami) (Published in International Economic Journal, Vol. 23(1), 2009, 143-161.)

� �Active versus Passive Policies of Unemployment: Growth and Public Finance Perspectives."(with Charlotte du Toit) (Published in South African Journal of Economic and ManagementSciences, Vol. 12(1), 2009, 1-10.)

� �A Panel Bargaining Model within the Regional Boundaries of the South African Grain In-dustry." (with Elizabeth M. Ueckermann, James N. Blignaut) (Published in ICFAI Journalof Industrial Economics, Vol. 6(1), 2009, 40-55.)

� �Financial Liberalization and In�ationary Dynamics." (Published in International Journal ofEconomic Research, Vol. 6(1), 2009, 127-145.)

� �Modelling and Forecasting the Metical-Rand Exchange Rate." (with Samuel Zita) (Publishedin ICFAI Journal of Monetary Economics, Vol. VI(4), 2008, 63-90.)

� �Costly Tax Enforcement and Financial Repression." (with Emmanuel Ziramba) (Publishedin Economic Notes, Vol. 37(2), 2008, 141-154. Published in ERSA Working Paper Series,Working Paper 99.)

� �Tax Evasion and Financial Repression." (Published in Journal of Economics and Business,Vol. 60(6), 2008, 517-535.)

� �Spatial Bayesian Methods of Forecasting House Prices in Six Metropolitan Areas of SouthAfrica." (with Sonali Das) (Published in South African Journal of Economics, Vol. 76(2),2008, 298-313.)

� �Modelling Preferences of South African Grain Farmers for Adopting Derivative ContractsUsing Discrete Choice Models."(with Elizabeth M. Ueckermann, James N. Blignaut and R.Raubenheimer) (Published in Agrekon, Vol. 47(2), 2008, 222-239.)

� �Measuring the Welfare Cost of In�ation in South Africa." (with Josine Uwilingiye) (Pub-lished in South African Journal of Economics, Vol. 76(1), 2008, 16-25. Published in ERSAWorking Paper Series, Working Paper 68.)

� �A Generic Model of Financial Repression" (Published in International Economics and Fi-nance Journal, Vol. 3(1), 2008, 1-22.)

� �Financial Liberalization: A Myth or a Miracle Cure?" (with Andreas G. Karapatakis) (Pub-lished in ICFAI Journal of Monetary Economics, Vol. VI(1), 2008, 6-33.)

� �Financial Liberalization with Productive Public Expenditure and a Curb Market." (Publishedin Indian Journal of Economics, Vol. LXXXVII(3), 2007, 75-91.)

48

� �Financial Liberalization and the Dynamics of In�ation, Nominal Exchange Rate and Termsof Trade." (Published in Indian Economic Review, Vol. 42(2), 2007, 165-176.)

� �Forecasting the South African Economy with Gibbs Sampled BVECMs." (Published in SouthAfrican Journal of Economics, Vol. 75(4), 2007, 631-643.)

� �Financial Liberalization and In�ationary Dynamics: An Open Economy Analysis." (Pub-lished in International Economic Journal, Vol. 21(3), 2007, 335-360.)

� �A Small-Scale DSGE Model for Forecasting the South African Economy." (with Dave Liu)(Published in South African Journal of Economics, Vol. 75(2), 2007, 179-193.)

� �Rational Expectations and the E¤ects of Financial Liberalization on Price Level and Output."(Published in South African Journal of Economic and Management Sciences, Vol. 10(1), 2007,107-115.)

� �Forecasting the South African Economy with VARs and VECMs." (Published in SouthAfrican Journal of Economics, Vol. 74(4), 2006, 611-628.)

� �A BVAR Model of the South African Economy." (with Moses M. Sichei) (Published in SouthAfrican Journal of Economics, Vol. 74(3), 2006, 391-409.)

� �E¤ects of High Yielding Variety of Seeds on Agricultural Production in India: The Caseof West Bengal." (Published in Asian-African Journal of Economics and Econometrics, Vol.6(1), 2006, 57-70.)

� �Financial Liberalization and In�ationary Dynamics In the Context of a Small Open Econ-omy." (Published in South African Journal of Economic and Management Sciences, Vol. 9(1),2006, 89-101.)

� �Revisiting the In�ation-Repression Relationship." (Published in The Journal of World Eco-nomics Review, Vol. 1(1), 2006, 107-126.)

� �Asymmetric Information, Tax Evasion and Alternative Instruments of Government Rev-enue." (Published in ICFAI Journal of Monetary Economics, Vol. IV(1), 2006, 74-89.)

� �Costly State Monitoring and Reserve Requirements." (Published in Annals of Economicsand Finance, Vol 6(2), 2005, 263-288.)

� �Revisiting the Temporal Causality between Money and Income." (Published in Indian Eco-nomic Journal, Vol. 52(2-3), 2004, 33-45.)

Non-Refereed Publications:

� �Integrated Social Development as the Accelerator of Shared Growth" (with H. R. Bohlmann,C. B. du Toit, and N. J. Schoeman) (Focus on Key Economic Issues, no. 55 �March 2007.)

Working Papers:

� "Openness and Growth: Is the Relationship Non-Linear?" (with Lardo Stander and AndreaVaona) (Submitted.)

49

� "Economic Policy Uncertainty and Insurance." (with Mehmet Balcilar, Chien-Chiang Leeand Godwin Olasehinde-Williams) (Submitted.)

� "Investor Sentiment Connectedness: Evidence from Linear and Nonlinear Causality Ap-proaches." (with Aviral Kumar Tiwari, Deven Bathia and Elie Bouri) (Submitted.)

� "Uncertainty and Volatility Jumps in the Pound-Dollar Exchange Rate: Evidence from OverOne Century of Data." (with Konstantinos Gkillas and Dimitrios Vortelinos) (Submitted.)

� "Socio-Political Instability and Growth Dynamics." (with Manoel Bittencourt, Philton Mak-ena and Lardo Stander) (Submitted.)

� "Can Monetary Policy Lean against Housing Bubbles?" (with Christophe Andre, Petre Cara-iani and Adrian Cantemir Calin) (Submitted.)

� "Forecasting Realized Volatility of Bitcoin Returns: Tail Events and Asymmetric Loss." (withKonstantinos Gkillas and Christian Pierdzioch) (Submitted.)

� "Spillover of Sentiment in the European Union: Evidence from Time- and Frequency-Domains."(with Vasilios Plakandaras and Aviral Kumar Tiwari) (Submitted.)

� "Contagion between Real Estate and Financial Markets: A Bayesian Quantile-on-QuantileApproach." (with Massimiliano Caporin and Francesco Ravazzolo) (Submitted.)

� "Dynamic Impact of the U.S. Monetary Policy on Oil Market Returns and Volatility." (withHardik A. Marfatia and Esin Cakan) (Submitted.)

� "Contagion between Stock and Real Estate Markets: International Evidence from a LocalGaussian Correlation Approach." (with Elie Bouri and Shixuan Wang) (Submitted.)

� "Risk Aversion and Bitcoin Returns in Normal, Bull, and Bear Markets." (with Elie Bouri,Chi Keung Marco Lau and David Roubaud) (Submitted.)

� "Monetary Policy Reaction to Uncertainty in Japan: Evidence from a Quantile-on-QuantileInterest Rate Rule." (with Christina Christou, Ruthira Naraidoo and Christis Hassapis) (Sub-mitted.)

� "Multi-Horizon Financial and Housing Wealth E¤ects across the U.S. States." (with YenerCoskun, Christos Bouras and Mark E. Wohar) (Submitted.)

� "Giant Oil Discoveries and Con�icts." (with Carolyn Chisadza, Matthew Clance and MarkE. Wohar) (Submitted.)

� "Time-Varying Relationship between Conventional and Unconventional Monetary Policiesand Risk Aversion: International Evidence from Time- and Frequency-Domains." (with Be-sma Hkiri, Juncal Cunado and Mehmet Balcilar) (Submitted.)

� "Decomposition of Income Inequality in France: The Role of In�ation, Income Growth, andtheMonetary Policy Rate." (with Edmond Berisha, Ram S. Dubey and Eric Olson) (Submit-ted.)

50

� "Risk Aversion and the Predictability of Crude Oil Market Volatility: A Forecasting Ex-periment with Random Forests." (with Riza Demirer, Konstantinos Gkillas and ChristianPierdzioch) (Submitted.)

� "A Moving Average Heterogeneous Autoregressive Model for Forecasting the Realized Volatilityof the US Stock Market: Evidence from Over a Century of Data." (with Afees A. Salisu andAhamuefula E. Ogbonna) (Submitted.)

� "Forecasting Bitcoin Returns: Is there a Role for the U.S. �China Trade War?" (with VasiliosPlakandaras and Elie Bouri) (Submitted.)

� "The Predictive Power of the Term Spread on Inequality in the United Kingdom: An EmpiricalAnalysis." (with Mehmet Balcilar, Edmond Berisha and Oguzhan Cepni) (Submitted.)

� "Network Analysis of Economic and Financial Uncertainties in Advanced Economies: Evi-dence from Graph-Theory." (with Aviral Kumar Tiwari and Micheal Ko�Boachie) (Submit-ted.)

� �The Dynamics of U.S. REITs Returns to Uncertainty Shocks: A Proxy SVAR Approach."(with Oguzhan Cepni, Weihan Dul and Mark E. Wohar) (Submitted.)

� �Time-Varying Spillover of US Trade War on the Growth of Emerging Economies." (withOguzhan Cepni, David Gabauer and Khuliso Ramabulana) (Submitted.)

� �Forecasting Realized Volatility of Bitcoin: The Role of the Trade War." (with Elie Bouri,Konstantinos Gkillas and Christian Pierdzioch) (Submitted.)

� �Time-Varying Causality between Bond and Oil Markets of the United States: Evidence fromOver One and Half Centuries of Data." (with Semei Coronado, Saban Nazlioglu and OmarRojas) (Submitted.)

� �A Note on Oil Shocks and the Forecastability of Gold Realized Volatility." (with Riza Demirer,Christian Pierdzioch and Syed Jawad Hussain Shahzad) (Submitted.)

� �Jumps in Geopolitical Risk and the Cryptocurrency Market: The Singularity of Bitcoin."(with Elie Bouri and Xuan Vinh Vo) (Submitted.)

� �Evolution of Price E¤ects After One-Day of Abnormal Returns in the US Stock Market."(with Alex Plastun, Xolani Sibande and Mark E. Wohar) (Submitted.)

� �Time-Varying In�uence of Household Debt on Inequality in United Kingdom." (with Ed-mond Berisha, David Gabauer and Chi Keung Marco Lau) (Submitted.)

� �Dynamic Impact of Unconventional Monetary Policy on International REITs." (with HardikA. Marfatia and Keagile Lesame) (Submitted.)

� �In�ation-Targeting and In�ation Volatility: International Evidence from the Cosine-SquaredCepstrum." (with Nikolaos Antonakakis, Christina Christou and Luis A. Gil-Alana) (Submit-ted.)

� �Sentiment and Financial Market Connectedness: The Role of Investor Happiness." (withElie Bouri and Riza Demirer) (Submitted.)

51

� �Is there a National Housing Market Bubble Brewing in the United States." (with Jun Ma,Konstantinos Theodoridis and Mark E.Wohar) (Submitted.)

� �The Impacts of Structural Oil Shocks on Macroeconomic Uncertainty: Evidence froma LargePanel of 55 Countries." (with Xin Sheng and Qiang Ji) (Submitted.)

� �A Note on the Time-Varying Impact of Global, Region- and Country-Speci�c Uncertaintieson the Volatility of International Trade." (with Selcuk Gul) (Submitted.)

� �Risk Spillover between Bitcoin and Conventional Financial Markets: An Expectile-BasedApproach." (with Yue-Jun Zhang and Elie Bouri) (Submitted.)

� �Geopolitical Risks and Stock Market Volatility in the G7 Countries: A Century of Evidencefrom a Time-Varying Nonparametric Panel data Model." (with Elie Bouri, Oguzhan Cepniand Naji Jalkh) (Submitted.)

� �Time-Varying Predictability of Financial Stress on Inequality in the United Kingdom." (withEdmond Berisha, David Gabauer and Jacobus Nel) (Submitted.)

� �Oil-Shocks and Directional Predictability of Macroeconomic Uncertainties of Developed Economies:Evidence from High-Frequency Data." (with Syed Jawad Hussain Shahzad, Riza Demirer andChristian Pierdzioch) (Submitted.)

� �Monetary Policy and Speculative Spillovers in Financial Markets." (with Riza Demirer andDavid Gabauer) (Submitted.)

� �The Taylor Curve: International Evidence." (with Semih Emre Cekin and Eric Olson) (Sub-mitted.)

� �Movements in Real Estate Uncertainty in the United States: The Role of Oil Shocks." (withXin Sheng and Qiang Ji) (Submitted.)

� �The Impact of Oil Price Shocks on the Term Structure of Interest Rates: Evidence from aPanel of Emerging Economies." (with Oguzhan Cepni and Cenk C. Karahan) (Submitted.)

� �Forecasting State- and MSA-Level Housing Returns of the US: The Role of Mortgage DefaultRisks." (with Christos Bouras, Christina Christou and Keagile Lesame) (Submitted.)

� �The E¤ect of Decentralisation of Public Expenditures on Productivity in Europe." (with IgorFedotenkov) (Submitted.)

� �Oil Shocks and the Predictability of Realized Volatility of Oil: A Note." (with Riza Demirer,Christian Pierdzioch and Syed Jawad Hussain Shahzad) (Submitted.)

Supervising Research: [�*�indicates a co-supervised student for whom I am/wasthe main supervisor]

� Xolani Sibande, Ph.D., �Essays on Stock Markets."

� Keagile Lesame, Ph.D., �Essays on Real Estate Markets."

52

Former Students:

� Honors Students: 2013: Shinhye Chang; Jung-Sik Im; 2014: Nesisa Gumede; 2016: WilsonDonzwa; Seabelo Nyawo; 2018: Weihan Dul; Jacobus Nel; 2019: Olerato Ntshegang; BoipeloSeletedi; Thato Thebenare; 2020: Kaitlin Kliphuis; Jahnavhi Naidu.

� Pei-Pei Chen, MCOM, �Openness and Growth in the SADC Region."

� Samual Zita, MCOM, �An Econometric Model of the Metical-Rand Exchange Rate."

� Kasai Ndahiriwe, MCOM, �Temporal Causality between Taxes and Public Expenditures andTaxes: The Case of South Africa."

� Elizabeth M. Ueckermann, MCOM, �A Panel Bargaining Model within Regional Boundariesof the South African Grain Industry." (Co-supervised with Prof. James. N. Blignaut.)

� Josine Uwilingiye, MCOM, �Temporal Causality between Budget De�cit and Interest Rate:The Case of South Africa."

� Dave Liu*, Ph.D., �Forecasting with DSGE Models." (Co-supervised with Prof. EricSchaling.)

� Thabo M. Mokoena, Ph.D., �Finding Empirical Solutions to the Three Major Puzzles ofExchange Rate Economics: Applications in Respect of South African Macroeconomic Data."(Co-supervised with Prof. Renee van Eyden.)

� Albert H. de Wet, Ph.D., �A Macro-Econometric Framework for Credit Portfolio Modellingin South Africa."(Co-supervised with Prof. Renee van Eyden.)

� Emmanuel Ziramba*, Ph.D., �Essays on Public Finance and Economic Growth using Dy-namic General Equilibrium Models." (Co-supervised with Prof. Ruthira Naraidoo.)

� Mampho P. Modise*, MCOM, �Has the SARB Become More E¤ective Post In�ation Target-ing?" (Co-supervised with Prof. Alain Kabundi.)

� Kaya A. Agu, MCOM, �Convergence of Metropolitan House Prices in South Africa: A Re-Examination Using E¢ cient Unit Root Tests."

� Christain K. Tipoy, MCOM, �Could We Have Predicted the Recent Downturn in Home Salesof the Four US Census Regions?"

� Cobus Vermeulen, MCOM, �Private and Public Health Expenditures in an Endogenous GrowthModel with In�ation Targeting."

� Josine Uwilingiye*, Ph.D., �Evaluating the In�ation Targeting Regime in South Africa." (Co-supervised with Prof. Ruthira Naraidoo.)

� Olusegun A. Akanbi, Ph.D., �Macro-Econometric Modelling for the Nigerian Economy: Growth-Poverty Gap Analysis." (Co-supervised with Prof. Charlotte du Toit.)

� Zahra Shah, MCOM, �An In-Sample and Out-of-Sample Empirical Investigation of the Non-linearity in House Prices of South Africa."

53

� Leroi J. Raputsoane, Ph.D., �Monetary Policy Preferences and In�ation Targeting Rules."(Co-supervised with Prof. Ruthira Naraidoo.)

� Kasai Ndahiriwe, Ph.D., �Analysis of Monetary Policy Rules for South Africa." (Co-supervisedwith Prof. Ruthira Naraidoo.)

� Faaiqa Hartley, MCOM, �The Role of Asset Prices in Forecasting In�ation and Output inSouth Africa."

� Esti van Wyk de Vries, MCOM, �Intertemporal Portfolio Allocation and Hedging Demand:An Application to South Africa." (Co-supervised with Prof. Renee van Eyden.)

� Vittorio Peretti*, MCOM, �Do House Prices Impact Consumption and Interest Rate in SouthAfrica? Evidence from a Time-Varying Vector Autoregressive Model." (Co-supervised withDr. Roula Inglesi-Lotz.)

� Riane de Bruyn*, MCOM, �Forecasting the Rand-Dollar and Rand-Pound Exchange Ratesusing Dynamic Model Averaging." (Co-supervised with Prof. Renee van Eyden.)

� Mampho P. Modise*, Ph.D., �Essays on the Determinants, Spillovers and Predictability ofthe South African Stock Returns." (Co-supervised with Dr. Christiane Baumeister.)

� Beatrice D. Simo Kengne*, Ph.D., �Essays on Determinants and Spillovers of South AfricanHousing Market." (Co-supervised with Prof. Manoel Bittencourt.)

� Wendy V. Nyakabawo*, MCOM, �Temporal Causality between House Prices and Output inthe U.S.: A Bootstrap Rolling-Window Approach." (Co-supervised with Dr. Sonali Das.)

� Janneke L. Dlamini*, MCOM, �Revisiting the Causality between Electricity Consumption andEconomic Growth in South Africa: A Bootstrap Rolling-Window Approach." (Co-supervisedwith Dr. Roula Inglesi-Lotz.)

� Frederick W. Deale, MCOM, "Does Debt Ceiling and Government Shutdown Help in Fore-casting the US Equity Risk Premium?"

� Olorato Gadinabokao, MCOM, "Does the SARB Respond to Oil Price Movements? HistoricalEvidence from the Frequency Domain."

� Roulof Hefer, MCOM, "Oil Price and Consumer Price Nexus in South Africa Revisited: ANovel Asymmetric Causality Approach."

� Nangamso C. Manjezi, MCOM, "Can Debt Ceiling and Government Shutdown Predict USReal Stock Returns? A Bootstrap Rolling-Window Approach."

� Devon Smithers, MCOM, "Convergence in U.S. Metropolitan Statistical Areas."

� Kirsten Thompson, Ph.D., �Essays on the Financial Conditions Index for South Africa."(Co-supervised with Dr. Christiane Baumeister and Prof. Renee van Eyden.)

� Shinhye Chang, MCOM, "Persistence in Precious Metal Prices: A Fractional IntegrationApproach with Structural Breaks."

54

� Laban K. Chesang, Ph.D., �Essays in Monetary and Fiscal Policy." (Co-supervised withProf. Ruthira Naraidoo.)

� Goodness C. Aye, Post-Doctoral Fellow, �Forecasting Key Macroeconomic Variables of SouthAfrica Using Linear and Non-Linear Models."

� Elmarie Nel, MCOM, �The Causal Relationship between Energy Consumption and EconomicGrowth in South Africa: New Evidence from Asymmetric Causality in Frequency Domain."

� Charl Jooste, Ph.D., �Essays on Fiscal Policy." (Co-supervised with Prof. RuthiraNaraidoo.)

� Anguyo Francis Leni, Ph.D., �Monetary Policy in Low Income African Countries: The Caseof Uganda." (Co-supervised at the University of Cape Town with Dr. KevinKotze.)

� Wilson Donzwa, MCOM, �Volatility Spillovers between Interest Rates and Equity Markets ofDeveloped Economies."

� Zintle Twala, MCOM, �Does Liquidity Risk Explain the Time-Variation in Asset Correla-tions? Evidence from Stocks, Bond and Commodities."

� Shinhye Chang*, Ph.D., �Essays on Inequality and Growth in the US." (Co-supervisedwith Prof. Stephen M. Miller (University of Nevada, Las Vegas).)

� Yanele Nyamela, MCOM, �Frequency-Dependent Real-Time E¤ects of Uncertainty in theUnited States: Evidence from Daily Data."

� Akhona Myataza, MCOM, �Political Cycles in the United States and Stock Market Volatilityin other Advanced Economies: An EGARCH Approach."

� Wendy V. Nyakabawo, Ph.D., �Essays on the U.S. Housing Market."

� Philton Makena, Ph.D., �Essays on General Equilibrium Models with Imperfections."

� Jacobus Nel, MCOM, �Monetary Policy Uncertainty Spillovers in Time- and Frequency-Domains."

� Khuliso Ramabulana, MCOM, �Time-Varying Spillover of US Trade War on the Growth ofEmerging Economies."

� Weihan Dul, MCOM, �The Dynamics of U.S. REITs Returns to Uncertainty Shocks: A ProxySVAR Approach."

Computer Skills:

� Working knowledge in typesetting, statistical and quantitative software programs like LaTeX,MS�O¢ ce, SAS, Mathematica, SHAZAM, EViews, GAMS, GAUSS, SPSS, MATLAB and R.

� Knowledge ofMS-Frontpage, MS-Publishers and Open Source CMS for developing web pages.

55

Awards, Fellowships, Grants and Recognitions:

� 2020: February, Ranked 49th (9th) by IDEAS among Top 10 percent Economists (last 10years of publications) in the World.

� 2020: February, Ranked 10th by IDEAS among Top Young [de�ned by the year of the �rstpublication (20 years or less) in any form] Economists in the World.

� 2019: Member of African Economic Forum Board of Economists.

� 2018: December, Ranked 5th by IDEAS among Top Young [de�ned by the year of the �rstpublication (15 years or less) in any form] Economists in the World.

� 2018: Elected Member of the Academy of Science of South Africa (ASSAf).

� 2016: NRF Rating: C2.

� 2019, 2018, 2017, 2016: Best Researcher Award (for the years 2018, 2017, 2016, 2015), Facultyof Economic and Management Sciences, University of Pretoria.

� 2013: December, Ranked 10th by IDEAS among Top Young [de�ned by the year of the �rstpublication (10 years or less) in any form] Economists in the World.

� 2010: Once-o¤ grant for the years 2011 and 2012 form the Department of Science and Tech-nology (DST), South Africa, for NRF-rated researchers.

� 2010: Who�s Who in the World for 2011 (28th Edition).

� 2010: Emerald Literati Network Awards for Excellence (for the year of 2009), OutstandingReviewer Award for Impressive and Signi�cant Contribution as a Reviewer to Journal ofEconomic Studies.

� 2010: NRF Rating: Y2.

� 2008, 2009, 2015: Best Senior Researcher Award (for the years 2007, 2008, 2014) in thecategory of Associate Professor/Professor, Faculty of Economic and Management Sciences,University of Pretoria.

� 2007: Outstanding Young Researcher Award, University of Pretoria.

� 2007, 2012: Exceptional Performance Award, Department of Economics, University of Pre-toria.

� 2007: Best Junior Researcher Award (for the year of 2006) in the category of Senior Lecturer,Faculty of Economic and Management Sciences, University of Pretoria.

� 2017, 2015, 2014, 2013, 2011, 2010, 2009, 2008, 2007, 2006: Senior Researcher Award, De-partment of Economics, University of Pretoria.

� 2006-2008: New Researcher Development Grant (�Forecasting with DSGE Models: The Caseof South Africa."), University of Pretoria.

� 2004, Fall: Doctoral Dissertation Fellowship. University of Connecticut, Storrs, CT, USA.

56

� 2000-2005: Pre-Doctoral Fellowship. University of Connecticut, Storrs, CT, USA.

� 2000-2005: Graduate Assistantship. University of Connecticut, Storrs, CT, USA.

� 1999: Junior Research Fellowship (JRF) awarded by University Grants Commission (UGC),India.

Membership:

African Econometric Society, American Real Estate Society, Eastern Economic Association, Econo-metric Society, Economic Association of South Africa, Economic Research Southern Africa, Societyfor the Study of Emerging Markets.

Editorial and Referee Duties:

� Co-Editor: Scienti�c African

� Associate Editor: Emerging Markets Finance and Trade

� Editorial Board: Advances in Decision Sciences; Annals of Financial Economics; InternationalJournal of Energy and Statistics; International Journal of Strategic Property Management;Journal of Reviews on Global Economics

� Referee: Accounting and Finance; African Finance Journal; Africa International Trade Re-view; Agrekon; American University of Beirut Tenure Application; Annals of Economicsand Finance; Annals of Regional Science; Applied Economics; Applied Economics Letters;Applied Energy; Applied Mathematics; Atmospheric Science Letters; Biomass and Bioen-ergy; Borsa Istanbul Review; Bulletin of Economic Research; Defence and Peace Economics;Development Southern Africa; East European Economics; Ecological Economics; EconomiaInternazionale/International Economics; Economic Modelling; Economic Research SouthernAfrica Working Paper Series; Economic Systems; Economics; Economics, Management, andFinancial Markets; Economics Research International; Economies; Emerging Markets Review;Empirical Economics; Energy Economics; Energy Journal; Energy Policy; Energy Reports;Energy Strategy Reviews; Environment, Development and Sustainability; Environmental Sci-ence and Pollution Research; European Journal of Finance; European Journal of PoliticalEconomy; Finance Research Letters; Housing, Theory and Society; Indian Economic Review;International Economic Journal; International Economics; International Journal of Financeand Economics; International Journal of Forecasting; International Journal of Energy SectorManagement; International Journal of Strategic Property Management; International Re-view of Applied Economics; International Review of Economics and Finance; InternationalReview of Financial Analysis; Journal of African Economies; Journal of Agricultural and Ap-plied Economics; Journal of Applied Economics; Journal of Applied Econometrics; Journalof Applied Meteorology and Climatology; Journal of Applied Statistics; Journal of Bankingand Finance; Journal of Business Cycle Research; Journal of Computational and Graphi-cal Statistics; Journal of Developing Areas; Journal of Economic Asymmetries; Journal ofEconomic Studies; Journal of Economics and Behavioral Studies; Journal of Economics andBusiness; Journal of Energy in Southern Africa; Journal of Environmental Economics andPolicy; Journal of Financial Stability; Journal of Forecasting; Journal of Housing and theBuilt Environment; Journal of Housing Economics; Journal of Housing Research; Journal of

57

International Economics; Journal of International Money and Finance; Journal of Interna-tional Trade and Economic Development; Journal of Real Estate Finance and Economics;Journal of Real Estate Portfolio Management; Journal of Real Estate Research; Journal ofRisk and Financial Management; Knowledge-Based Systems; Meteorological Applications;National Research Foundation (Research Proposal); Natural Hazards; North American Jour-nal of Economics and Finance; Paci�c-Basin Finance Journal; Physica A; Plos One; PublicFinance Review; Quantitative Finance; Quarterly Review of Economics and Finance; RealEstate Management and Valuation; Renewable and Sustainable Energy Reviews; Researchin International Business and Finance; Resources Policy; Review of Development Economics;Risk Management; Singapore Economic Review; Social Indicators Research; South AfricanJournal of Economic and Management Sciences; South African Journal of Economics; SouthAfrican Reserve Bank Working Paper Series; Structural Change and Economic Dynamics;Studies in Economics and Econometrics; Studies in Nonlinear Dynamics and Econometrics;Sustainability; The World Economy; Theoretical and Applied Climatology; TransportationResearch Part A: Policy and Practice; United International College (Research Proposal); Uni-versity of the United Arab Emirates (Research Proposal); Women in Science Without Borders(WiSWB) Conference; World Development.

External Examiner:

University of Cape Town; University of Johannesburg; University of Limpopo; University of Mau-ritius; Stellenbosch University; University of Witwatersrand.

Conferences and Seminars:

(Titles may have been di¤erent at time of presentation.)

� �Financial Liberalization and In�ationary Dynamics In the Context of Southern EuropeanEconomies." : Midwest Macroeconomics Meetings, Iowa State University, Ames, Iowa, May2004; Graduate Student Seminar Series, University of Connecticut, Storrs, Fall 2003; AdviseeWorkshop, University of Connecticut, Storrs, Fall 2003.

� �Reserve Requirements, Tax Evasion and Moral Hazard in an Endowment Economy." : Grad-uate Student Seminar Series, University of Connecticut, Storrs, Spring 2004; Advisee Work-shop, University of Connecticut, Storrs, Spring 2004.

� �Endogenous Tax Evasion and Reserve Requirements." : Advisee Workshop, University ofConnecticut, Storrs, Fall 2004; 11th International Conference on Computing in Economicsand Finance, Washington DC, June 2005 (Poster Sessions) (Accepted, but unable to attend).

� �Costly State Monitoring and Reserve Requirements." : Brownbag Series, University of Con-necticut, Storrs, Fall 2004; Spring Midwest Economic Theory Conference, Vanderbilt Univer-sity, April 2005 (Accepted, but unable to attend).

� �A Generic Model of Financial Repression." : Graduate Student Seminar Series, Universityof Connecticut, Storrs, Fall 2004.

� �Revisiting the In�ation-Repression Relationship." : Academic Seminar, Department of Eco-nomics, University of Pretoria, Second Semester, 2005; Macroeconomic Workshop, University

58

of Connecticut, Storrs, Fall 2005; Spring Midwest Economic Theory Conference, MichiganState University, April 2006 (Accepted, but unable to attend).

� �A BVAR Model for the South African Economy." : Brownbag Series, Department of Eco-nomics, University of Pretoria, First Semester 2006; ICSA Conference, University of Con-necticut, June 2006.

� �Growth-E¤ects of In�ation Targeting: The Role of Financial Sector Development." : SeminarSeries, Department of Economics, University of Cape Town, First Semester 2006.

� �Forecasting the South African Economy with VARs and VECMs." : Seminar Series, Depart-ment of Economics, University of the Witwatersrand, Second Semester 2006; 49th AnnualConference of the South African Statistical Association, Department of Statistics and Actu-arial Science, Stellenbosch University, November 2006.

� �An Endogenous Growth Model of a Financially Repressed Small Open Economy" : ACEInternational Conference, City University of Hong Kong, December 2006 (Accepted, butunable to attend).

� �Gibbs Sampling and Forecasting with BVECMs." : Brownbag Series, Department of Eco-nomics, University of Pretoria, Second Semester 2006.

� �Currency Substitution and Financial Repression." : ERSA Macroeconomics and GrowthWorkshop, South African Reserve Bank, Pretoria, May 2007.

� �A Small-Scale Estimated DSGE Model for Forecasting the South African Economy." : 27thInternational Symposium on Forecasting, New York City, June 2007.

� �Bayesian Methods of Forecasting Inventory Investment in South Africa." : Seminar Series,Department of Economics, University of Pretoria, First Semester 2007; 12th AES Conference,Cape Town, July 2007.

� �Active versus Passive Policies of Unemployment: Growth and Public Finance Perspectives." :ESSA Conference, Johannesburg, September 2007.

� �Growth, Tax Evasion and Financial Repression." : Seminar Series, Department of Eco-nomics, University of Cape Town, Second Semester 2007.

� �Spatial Bayesian Methods of Forecasting House Prices in Six Metropolitan Areas of SouthAfrica." : 50th Annual Conference of the South African Statistical Association, School ofStatistics and Actuarial Science, University of the Witwatersrand, November 2007; BrownbagSeries, Department of Economics, University of Pretoria, Second Semester 2007.

� �DSGE Models." : Workshop, Department of Economics, Stellenbosch University, SecondSemester 2007.

� �Costly Tax Enforcement and Financial Repression." : Brownbag Series, Department of Eco-nomics, University of Pretoria, First Semester 2008; Seminar Series, Department of Eco-nomics, University of Cape Town, First Semester 2008.

59

� �Should the SARB have Stayed Time Inconsistent?" : Brownbag Series, Department of Eco-nomics, University of Pretoria, First Semester 2008; 13th AES Conference, University ofPretoria, July 2008.

� �Forecasting a Small Open Economy: NKDSGE versus DFM" : Discussion Series, SouthAfrican Reserve Bank College, First Semester 2008; 13th AES Conference, University ofPretoria, July 2008.

� �Could We Have Predicted the Recent Downturn in the South African Housing Market?" :51st Annual Conference of the South African Statistical Association, Department of Statistics,University of Pretoria, October 2008.

� �Private and Public Health Expenditures in an Endogenous Growth Model with In�ationTargeting." : Brownbag Series, Department of Economics, University of Pretoria, SecondSemester 2008; Midwest Macroeconomics Meetings, Indiana University, Bloomington, Indi-ana, May 2009 (Accepted, but unable to attend); Seminar Series, Department of Economicsand Econometrics, University of Johannesburg, First Semester 2009; ESSA Conference, PortElizabeth, September 2009 .

� �Comparing South African In�ation Volatility across Monetary Policy Regimes: An Applica-tion of Saphe Cracking." : Brownbag Series, Department of Economics, University of Pretoria,First Semester 2009.

� �Optimal Public Policy with Endogenous Mortality." : International Institute of Public Fi-nance Congress, Cape Town, August 2009.

� �Ethnic Diversity and Preferences for Redistribution" (by Matz Dahlberg and Karin Edmark):Discussant, International Institute of Public Finance Congress, Cape Town, August 2009.

� �Ripple E¤ects and Forecasting Home Prices in Los Angeles, Las Vegas and Phoenix." : 57thSession of International Statistical Institute (ISI), Durban, August 2009 (Accepted, but unableto attend).

� �Forecasting the US House Price: DSGE versus VARs." : Brownbag Series, Departmentof Economics, University of Pretoria, Second Semester 2009; Ninth Valencia InternationalMeeting on Bayesian Statistics, Alicante, Spain, June 2010 (Accepted, but unable to attend).

� �Forecasting the South African Economy with a Small Open Economy BVAR-NKDSGE Model." :Brownbag Series, Department of Economics, University of Pretoria, First Semester 2010; 1stMonetary Economics and Macroeconomic Modeling Workshop, South African Reserve Bank,Pretoria, March 2011.

� �Bubbles in House Prices and their Impact on Consumption: Evidence for South Africa." :Seminar Series, Department of Economics and Econometrics, University of Johannesburg,First Semester 2010.

� �Tax Evasion, Financial Development and In�ation: Empirical Evidence and Theory." :Brownbag Series, Department of Economics, University of Pretoria, Second Semester 2010;Seminar Series, Department of Economics, University of Cape Town, Second Semester 2011;Seminar Series, Economic Research Unit, Indian Statistical Institute, First Semester 2012.

60

� �Forecasting Nevada Gross Gaming Revenue and Taxable Sales Using Coincident and LeadingEmployment Indexes." : 52nd Annual Conference of the South African Statistical Association,Department of Statistics, North-West University, November 2010.

� �Endogenous Fluctuations in Endogenous Growth Models." : Brownbag Series, Departmentof Economics, University of Pretoria, Second Semester 2010; Seminar Series, Department ofEconomics, Stellenbosch University, First Semester 2011.

� �Reconsidering the Welfare Cost of In�ation." : Brownbag Series, Department of Economics,University of Pretoria, First Semester 2011; ESSA Conference, Stellenbosch, September 2011.

� �Could We Have Predicted the Recent Downturn in US GDP?" : Brownbag Series, Depart-ment of Economics, University of Pretoria, Second Semester 2011; 53rd Annual Conferenceof the South African Statistical Association, Council for Scienti�c and Industrial Research(CSIR), Pretoria, November 2011; 2nd Monetary Economics and Macroeconomic ModelingWorkshop, South African Reserve Bank, Pretoria, March 2012.

� �Social Status, In�ation, and Endogenous Growth in a Cash-in-Advance Economy: A Re-consideration." : Brownbag Series, Department of Economics, University of Pretoria, FirstSemester 2012; Seminar Series, Department of Economics, Stellenbosch University, SecondSemester 2012.

� "House Prices and Balance of Trade Dynamics in South Africa: Evidence from an AgnosticIdenti�cation Procedure." : Seminar Series, Department of Economics, University of the FreeState, Second Semester 2012; International Society of Bayesian Analysis, Banaras HinduUniversity (BHU), Varanasi, January, 2013 (Accepted, but unable to attend).

� �Forecasting South African Aggregate Retail Sales Using Univariate Linear, Nonlinear, andNonparametric Time Series Models." : 54th Annual Conference of the South African Statis-tical Association, Nelson Mandela Metropolitan University, Port Elizabeth, November 2012;ESSA Conference, Bloemfontein, September 2013.

� �Is the Relationship between Openness and Growth Nonlinear?" : Brownbag Series, Depart-ment of Economics, University of Pretoria, Second Semester 2012; ESSA Conference, CapeTown, September 2015.

� �DSGE Model-Based Forecasting of Non-Core Variables: The Case of South Africa." : Brown-bag Series, Department of Economics, University of Pretoria, First Semester 2013; 3rd Mone-tary Economics and Macroeconomic Modeling Workshop, South African Reserve Bank, Pre-toria, August 2013.

� �Forecasting US Real Private Residential Fixed Investment Using Large Number of Predic-tors." : 55th Annual Conference of the South African Statistical Association, University ofLimpopo, Polokwane, November 2013.

� �Socio-Political Instability and Growth Dynamics." : Brownbag Series, Department of Eco-nomics, University of Pretoria, Second Semester 2013; Seminar Series, Economic ResearchUnit, Indian Statistical Institute, First Semester 2013; Seminar Series, Department of Eco-nomics, University of Navarra, Second Semester, 2018; Seminar Series, Department of Eco-nomics and Econometrics, University of Navarra, Second Semester, 2018.

61

� �Forecasting Growth Using a DSGE-Based Decomposition of the Term-Structure." : 4th An-nual Monetary Economics Workshop, Department of Economics, University of Pretoria, Pre-toria, May 2014; Seminar Series, Department of Statistics and DST Centre for Interdisci-plinary Mathematical Sciences, Banaras Hindu University, Varanasi, India, Second Semester2014.

� �Predictability of Growth Using a DSGE-Based Decomposition of the Term-Structure: Evi-dence from the Frequency Domain." : Seminar Series, Department of Economics, Universityof Pretoria, First Semester 2014.

� �Has Oil Price Predicted Stock Returns for Over a Century?" : 56th Annual Conference ofthe South African Statistical Association, Rhodes University, Grahamstown, October 2014.

� �Endogenous Discount Factor, Growth and In�ation." : Brownbag, Department of Economics,University of Pretoria, Second Semester 2014.

� �Forecasting the South African In�ation Rate with a Factor-Augmented Vector Error-CorrectionModel (FAVECM)." : Brownbag, Department of Economics, University of Pretoria, FirstSemester 2015.

� �Forecasting Oil and Stock Returns: Historical Evidence using a QualVAR." : Brownbag, De-partment of Economics, University of Pretoria, Second Semester 2015; 21st AES Conference,Kruger National Park, July 2016.

� �Incorporating Economic Policy Uncertainty in US Equity Premium Models: A NonlinearPredictability Analysis." : 57th Annual Conference of the South African Statistical Associa-tion, University of Pretoria, Pretoria, November-December 2015.

� �The Role of Macroeconomic Uncertainty in Forecasting the Growth Rate of South Africa." :Brownbag, Department of Economics, University of Pretoria, First Semester 2016; SeminarSeries, Department of Economics, University of Cape Town, Second Semester 2016.

� �Forecasting Stock Returns: The Role of Partisan Con�ict." : Brownbag, Department ofEconomics, University of Pretoria, Second Semester 2016; 6th International Conference ofMathematics in Finance, Kruger National Park, August 2017.

� �A Time-Varying "cay"." : Brownbag, Department of Economics, University of Pretoria, FirstSemester 2017.

� �Cricket and Stock Markets." : Brownbag, Department of Economics, University of Pretoria,Second Semester 2017; Statistical Methods in Finance Conference and Workshop, ChennaiMathematical Institute (CMI), Chennai, India, December 2018.

� �What is so Real about Tax Evasion?" : Brownbag, Department of Economics, University ofPretoria, First Semester 2018.

� �In�ation Aversion and the Growth-In�ation Relationship." : Brownbag, Department of Eco-nomics, University of Pretoria, Second Semester 2018.

� �Trade Uncertainties and Bitcoin as a Hedge." : Brownbag, Department of Economics, Uni-versity of Pretoria, First Semester 2019.

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� �Growth Dynamics, Multiple Equilibria, and Local Indeterminancy in an Endogenous GrowthModel of Money, Banking and In�ation Targeting." : Brownbag, Department of Economics,University of Pretoria, Second Semester 2019.

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