Yr Athro David Meenagh

2026

• Meenagh, D. , Minford, A. and Xu, Y. 2026. Why applied macroeconomists should not use Bayesian estimation of DSGE models. Open Economies Review (10.1007/s11079-026-09868-2)

2025

• Le, V. P. M. et al. 2025. UK monetary and fiscal policy since the great recession - an evaluation. Applied Economics 57 (48), pp.7809-7837. (10.1080/00036846.2024.2393897)
• Chen, H. et al. 2025. UK monetary policy in an estimated dsge model with state-dependent price and wage contracts. Journal of International Money and Finance 157 103390. (10.1016/j.jimonfin.2025.103390)
• Zhao, Z. et al., 2025. How much price stickiness in Hong Kong? —Evidence from small open economy DSGE and indirect inference. Open Economies Review 36 , pp.921-945. (10.1007/s11079-024-09783-4)
• Le, V. P. M. , Meenagh, D. and Minford, P. 2025. Could an economy get stuck on a rational pessimism sunspot path? The case of Japan. Journal of International Financial Markets, Institutions and Money 101 102142. (10.1016/j.intfin.2025.102142)

2024

• Le, V. P. M. , Meenagh, D. and Minford, P. 2024. The role of fiscal policy — A survey of recent empirical findings. Open Economies Review 35 , pp.985-998. (10.1007/s11079-024-09759-4)
• Yang, X. et al., 2024. The dynamics of redistribution, inequality and growth across China's regions. Journal of Policy Modeling 46 (3), pp.613-637. (10.1016/j.jpolmod.2024.01.011)
• Meenagh, D. , Minford, A. and Xu, Y. 2024. Indirect inference and small sample bias — Some recent results. Open Economies Review 35 , pp.245-259. (10.1007/s11079-023-09731-8)

2023

• Dong, X. et al., 2023. Bounded rational expectation: How it can affect the effectiveness of monetary rules in the open economy. Journal of International Financial Markets, Institutions and Money 88 101845. (10.1016/j.intfin.2023.101845)
• Meenagh, D. and Minford, P. 2023. A structural model of coronavirus behaviour: what do four waves of Covid tell us?. Applied Economics 55 (37), pp.4348-4358. (10.1080/00036846.2022.2128295)
• Oyekola, O. , Meenagh, D. and Minford, P. 2023. Global shocks in the US economy: effects on output and the real exchange rate. Open Economies Review 34 , pp.411-435. (10.1007/s11079-022-09680-8)
• Lyu, J. et al., 2023. UK monetary policy in an estimated DSGE model with financial frictions. Journal of International Money and Finance 130 102750. (10.1016/j.jimonfin.2022.102750)

2022

• Le, V. P. M. et al. 2022. Regulatory arbitrage, shadow banking and monetary policy in China. Journal of International Financial Markets, Institutions and Money 80 101640. (10.1016/j.intfin.2022.101640)
• Meenagh, D. , Minford, P. and Wickens, M. R. 2022. The macroeconomic controversy over price rigidity - how to resolve it and how Bayesian estimation has led us astray. Open Economies Review 33 , pp.617-630. (10.1007/s11079-021-09658-y)
• Minford, P. , Gai, Y. and Meenagh, D. 2022. North and South: A regional model of the UK. Open Economies Review 33 , pp.565-616. (10.1007/s11079-021-09633-7)
• Zhao, Z. , Meenagh, D. and Minford, P. 2022. Should Hong Kong switch to Taylor rule?—Evidence from DSGE model. Applied Economics 54 (50), pp.5851-5872. (10.1080/00036846.2022.2053655)

2021

• Le, V. P. M. , Meenagh, D. and Minford, P. 2021. State-dependent pricing turns money into a two-edged sword: a new role for monetary policy. Journal of International Money and Finance 119 102496. (10.1016/j.jimonfin.2021.102496)
• Le, V. P. M. et al. 2021. China’s market economy, shadow banking and the frequency of growth slowdown. Manchester School 89 (5), pp.420-444. (10.1111/manc.12318)
• Le, V. P. M. et al. 2021. Shadow banks, banking policies and China's macroeconomic fluctuations. Journal of International Money and Finance 116 102415. (10.1016/j.jimonfin.2021.102415)
• Lyu, J. et al. 2021. Macroprudential regulation in the post-crisis era: has the pendulum swung too far?. Journal of International Financial Markets, Institutions and Money 74 101381. (10.1016/j.intfin.2021.101381)
• Yang, X. , Minford, P. and Meenagh, D. 2021. Inequality and economic growth in the UK. Open Economies Review 32 , pp.37-69. (10.1007/s11079-020-09598-z)
• Le, V. P. M. , Meenagh, D. and Minford, A. 2021. State-dependent pricing turns money into a two-edged sword. Working paper. Cardiff Economics Working Papers.
• Lyu, J. et al. 2021. Macroprudential regulation in the post-crisis era: has the pendulum swung too far?. Working paper. Cardiff Economics Working Papers.
• Meenagh, D. and Minford, P. 2021. A structural model of coronavirus behaviour for testing on data behaviour. Applied Economics 53 (30), pp.3515-3534. (10.1080/00036846.2021.1883531)

2020

• Le, V. P. M. , Meenagh, D. and Minford, P. 2020. News and why it is not shocking: the role of micro-foundations. Journal of International Financial Markets, Institutions and Money 66 101199. (10.1016/j.intfin.2020.101199)
• Minford, L. and Meenagh, D. 2020. Supply-side policy and economic growth: A case study of the UK. Open Economies Review 31 , pp.-. (10.1007/s11079-019-09536-8)

2019

• Minford, L. and Meenagh, D. 2019. Testing a model of UK growth: a role for R&D subsidies. Economic Modelling 82 , pp.152-167. (10.1016/j.econmod.2019.01.002)
• Meenagh, D. et al. 2019. Testing DSGE models by indirect inference: a survey of recent findings. Open Economies Review 30 (3), pp.593-620. (10.1007/s11079-019-09526-w)
• Dong, X. , Meenagh, D. and Minford, P. 2019. How important are the international financial market imperfections for the foreign exchange rate dynamics: A study of the sterling exchange rate. Journal of International Money and Finance 94 , pp.62-80. (10.1016/j.jimonfin.2019.02.012)
• Le, V. P. M. , Meenagh, D. and Minford, P. 2019. A long-commodity-cycle model of the world economy over a century and a half — making bricks with little straw. Energy Economics 81 , pp.503-518. (10.1016/j.eneco.2019.04.011)

2018

• Le, V. P. M. , Meenagh, D. and Minford, P. 2018. Financial stability: to regulate or not? A public choice inquiry. Journal of International Financial Markets, Institutions and Money 57 , pp.127-140. (10.1016/j.intfin.2018.07.004)
• Aminu, N. , Meenagh, D. and Minford, P. 2018. The role of energy prices in the Great Recession — A two-sector model with unfiltered data. Energy Economics 71 , pp.14-34. (10.1016/j.eneco.2018.01.030)

2017

• Le, V. P. M. et al. 2017. A Monte Carlo procedure for checking identification in DSGE models. Journal of Economic Dynamics and Control 76 , pp.202-210. (10.1016/j.jedc.2017.01.009)
• Le, V. , Meenagh, D. and Minford, A. 2017. Tracing the causes of the banking crisis. Applied Economics (10.1080/00036846.2017.1282145)

2016

• Le, V. P. M. , Meenagh, D. and Minford, P. 2016. Monetarism rides again? US monetary policy in a world of quantitative easing. Journal of International Financial Markets, Institutions and Money 44 , pp.85-102. (10.1016/j.intfin.2016.04.011)
• Le, V. P. M. et al. 2016. Testing macro models by indirect inference: a survey for users. Open Economies Review 27 (1), pp.1-38. (10.1007/s11079-015-9377-5)

2015

• Le, V. P. M. et al., 2015. China’s financial crisis: the role of banks and monetary policy. Working paper. Cardiff: Cardiff University.
• Le, V. P. M. et al., 2015. Small sample performance of indirect inference on DSGE models. Working paper. Cardiff: Cardiff University.

2014

• Le, V. P. M. et al., 2014. Banking and the macroeconomy in China: A banking crisis deferred?. Open Economies Review 25 (1), pp.123-161. (10.1007/s11079-013-9301-9)
• Le, V. P. M. , Meenagh, D. and Minford, P. 2014. Monetarism rides again? US monetary policy in a world of Quantitative Easing. Working paper. Cardiff: Cardiff University.

2013

• Le, V. P. M. et al., 2013. Banking and the macroeconomy in China: A banking crisis deferred?. Working paper. Cardiff: Cardiff University.
• Le, V. P. M. and Meenagh, D. 2013. Testing and estimating models using Indirect Inference. Working paper. Cardiff: Cardiff University.
• Le, V. P. M. et al. 2013. What causes banking crises? an empirical investigation for the world economy. Open Economies Review 24 (4), pp.581-611. (10.1007/s11079-013-9274-8)
• Le, V. P. M. , Meenagh, D. and Minford, P. 2013. What causes banking crises? An empirical investigation. Working paper. Cardiff: Cardiff University.
• Le, V. P. M. et al., 2013. What causes banking crises? An empirical investigation for the world economy. Working paper. Cardiff: Cardiff University.

2012

• Le, V. P. M. et al., 2012. Testing DSGE models by Indirect Inference and other methods: some Monte Carlo experiments. Working paper. Cardiff: Cardiff University.
• Meenagh, D. and Minford, A. P. L. 2012. Non Stationary Shocks, Crises and Policy. Rivista Italiana degli Economisti 17 (2), pp.191-224. (10.1427/37494)
• Meenagh, D. , Minford, P. and Wickens, M. 2012. Testing macroeconomic models by indirect inference on unfiltered data. Working paper. Cardiff: Cardiff University.

2011

• Le, V. P. M. et al. 2011. How much nominal rigidity is there in the US economy? Testing a new Keynesian DSGE model using indirect inference. Journal of Economic Dynamics and Control 35 (12), pp.2078-2104. (10.1016/j.jedc.2011.08.009)
• Le, V. P. M. et al., 2011. How much nominal rigidity is there in the US economy? Testing a New Keynesian DSGE model using indirect inference. Working paper. Cardiff: Cardiff University.

2010

• Meenagh, D. et al. 2010. Can a real business cycle model without price and wage stickiness explain UK real exchange rate behaviour?. Journal of International Money and Finance 29 (6), pp.1131-1150. (10.1016/j.jimonfin.2010.02.006)
• Davidson, J. et al. 2010. Why crises happen: nonstationary macroeconomics. Working paper. Cardiff: Cardiff University.
• Meenagh, D. et al. 2010. Can a pure Real Business Cycle model explain the real exchange rate?. Working paper. Cardiff: Cardiff University.
• Meenagh, D. et al. 2010. Can the facts of UK inflation persistence be explained by nominal rigidity?. Working paper. Cardiff: Cardiff University.

2009

• Meenagh, D. et al. 2009. Can the facts of UK inflation persistence be explained by nominal rigidity?. Economic Modelling 26 (5), pp.978-992. (10.1016/j.econmod.2009.03.004)
• Le, V. P. M. et al. 2009. Two orthogonal continents? Testing a two-country DSGE model of the US and the EU using indirect inference. Open Economies Review 21 (1), pp.23-44. (10.1007/s11079-009-9141-9)
• Le, V. P. M. et al., 2009. Two orthogonal continents: testing a two-country DSGE model of the US and EU using indirect inference. Working paper. Cardiff: Cardiff University.
• Meenagh, D. , Minford, A. P. L. and Wickens, M. 2009. Testing a DSGE Model of the EU Using Indirect Inference. Open Economies Review 20 (4), pp.435-471. (10.1007/s11079-009-9107-y)

2008

• Minford, A. P. L. , Theodoridis, K. and Meenagh, D. 2008. Testing a model of the UK by the method of indirect inference. Open Economies Review 20 (2), pp.265-291. (10.1007/s11079-008-9085-5)
• Meenagh, D. , Minford, P. and Wickens, M. 2008. Testing a DSGE model of the EU using indirect inference. Working paper. Cardiff: Cardiff University.
• Minford, P. , Theodoridis, K. and Meenagh, D. 2008. Testing a model of the UK by the method of indirect inference. Working paper. Cardiff: Cardiff University.

2007

• Meenagh, D. , Minford, A. P. L. and Peel, D. A. 2007. Simulating Stock Returns under switching regimes-a new test of market efficiency. Economics Letters 94 (2), pp.235-239. (10.1016/j.econlet.2006.06.036)
• Minford, P. , Meenagh, D. and Wang, J. 2007. Growth and relative living standards: testing barriers to riches on post-war panel data.. Working paper. Cardiff: Cardiff University.

2006

• Matthews, K. et al. 2006. Monetary regimes: Is there a trade-off between consumption and employment variability?. Working paper. Cardiff: Cardiff University.
• Meenagh, D. 2006. Modelling monetary policy and financial markets.. PhD Thesis , Cardiff University.
• Meenagh, D. , Minford, P. and Peel, D. 2006. Simulating stock returns under switching regimes: a new test of market efficiency. Working paper. Cardiff: Cardiff University.
• Minford, A. P. L. , Meenagh, D. and Wong, J. 2006. Testing a simple structural model of endogenous growth. Quarterly Economic Bulletin 27 (3), pp.19-26.

2004

• Minford, A. P. L. , Meenagh, D. and Webb, B. D. 2004. Britain and EMU: Assessing the costs in macroeconomic variability. The World Economy 27 (3), pp.301-358. (10.1111/j.1467-9701.2004.00602.x)