Overview
Before joining Cardiff Economics Department in August 2014, Mai held lectureship positions in Economics at the University of Sheffield and Swansea University.
Publication
2025
- 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
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)
- Le, V. P. M., Meenagh, D., Minford, P. and Wang, Z. 2024. UK monetary and fiscal policy since the great recession - an evaluation. Applied Economics (10.1080/00036846.2024.2393897)
2023
- Lyu, J., Le, V. P. M., Meenagh, D. and Minford, A. 2023. UK monetary policy in an estimated DSGE model with financial frictions. Journal of International Money and Finance 130, article number: 102750. (10.1016/j.jimonfin.2022.102750)
2022
- Le, V. P. M., Matthews, K., Meenagh, D. and Minford, P. 2022. Regulatory arbitrage, shadow banking and monetary policy in China. Journal of International Financial Markets, Institutions and Money 80, article number: 101640. (10.1016/j.intfin.2022.101640)
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, article number: 102496. (10.1016/j.jimonfin.2021.102496)
- Lyu, J., Le, V., Meenagh, D. and Minford, A. 2021. Macroprudential regulation in the post-crisis era: has the pendulum swung too far?. Journal of International Financial Markets, Institutions and Money 74, article number: 101381. (10.1016/j.intfin.2021.101381)
- Le, V. P. M., Matthews, K., Meenagh, D., Minford, P. and Xiao, Z. 2021. Shadow banks, banking policies and China's macroeconomic fluctuations. Journal of International Money and Finance 116, article number: 102415. (10.1016/j.jimonfin.2021.102415)
- Wang, C., Le, V. P. M., Matthews, K. and Zhou, P. 2021. Shadow banking activity and entrusted loans in a DSGE model of China. Manchester School 89(5), pp. 445-469. (10.1111/manc.12319)
- Le, V. P. M., Matthews, K., Meenagh, D., Minford, A. and Xiao, Z. 2021. China’s market economy, shadow banking and the frequency of growth slowdown. Manchester School 89(5), pp. 420-444. (10.1111/manc.12318)
- Lyu, J., Le, V., Meenagh, D. and Minford, A. 2021. Macroprudential regulation in the post-crisis era: has the pendulum swung too far?. Working paper. Cardiff Economics Working Papers.
- 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.
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, article number: 101199. (10.1016/j.intfin.2020.101199)
2019
- 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)
- le, V. P. M. and Naraidoo, R. 2019. Monetary policy in a model with commodity and financial markets. Working paper. Economic Research Southern Africa and Cardiff University.
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)
2017
- Le, V. P. M., Meenagh, D., Minford, A. and Wickens, M. 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., Meenagh, D., Minford, A. P. L., Wickens, M. and Xu, Y. 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
- Minford, P., Gupta, S., Le, V. P. M., Mahambare, V. and Xu, Y. 2015. Should Britain leave the EU? An economic analysis of a troubled relationship (2nd edition). United Kingdom: Edward Elgar. (10.4337/9781785360336)
- Collie, D. and Le, V. 2015. Product differentiation, the volume of trade and profits under Cournot and Bertrand Duopoly. International Journal of the Economics of Business 22(1), pp. 73-86. (10.1080/13571516.2014.950476)
2013
- Le, V. P. M., Meenagh, D., Minford, A. P. L. and Ou, Z. 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)
2011
- Le, V. P. M., Meenagh, D., Minford, A. P. L. and Wickens, M. 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., Minford, A. P. L. and Nowell, E. 2011. Measuring the extent and costs of EU protectionism. In: Jovanovic, M. N. ed. International handbook on the economics of integration: factor mobility, agriculture, environment and quantitative studies., Vol. 3. Elgar Original Reference Edward Elgar Publishing Ltd, pp. 316-342.
2010
- Collie, D. R. and Le, V. P. M. 2010. Antidumping regulations: anti-competitive and anti-export. Review of International Economics 18(5), pp. 796-806. (10.1111/j.1467-9396.2010.00891.x)
- Le, V. P. M., Minford, A. P. L. and Wickens, M. 2010. The 'Puzzles' methodology: En route to Indirect Inference?. Economic Modelling 27(6), pp. 1417-1428. (10.1016/j.econmod.2010.07.016)
2009
- Vo Phuong, M. L., Minford, A. P. L. and Nowell, E. 2009. European economic policy: protectionism as an elite strategy. In: Gamble, A. and Lane, D. eds. The European Union and World Politics: Consensus and Division. Palgrave Macmillan, pp. 217-234.
- Le, V. P. M., Meenagh, D., Minford, A. P. L. and Wickens, M. 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)
2008
- Collie, D. R. and Le, V. P. M. 2008. Anti-dumping regulations: anti-competitive and anti-export. Working paper. Cardiff: Cardiff University.
2006
- Le, V. P. M. and Minford, A. P. L. 2006. Joining the European Monetary Union - Comparing First and Second Generation Open Economy Models. Open Economies Review 17(3), pp. 281-296. (10.1007/s11079-006-9050-0)
Articles
- 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
- 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)
- Le, V. P. M., Meenagh, D., Minford, P. and Wang, Z. 2024. UK monetary and fiscal policy since the great recession - an evaluation. Applied Economics (10.1080/00036846.2024.2393897)
- Lyu, J., Le, V. P. M., Meenagh, D. and Minford, A. 2023. UK monetary policy in an estimated DSGE model with financial frictions. Journal of International Money and Finance 130, article number: 102750. (10.1016/j.jimonfin.2022.102750)
- Le, V. P. M., Matthews, K., Meenagh, D. and Minford, P. 2022. Regulatory arbitrage, shadow banking and monetary policy in China. Journal of International Financial Markets, Institutions and Money 80, article number: 101640. (10.1016/j.intfin.2022.101640)
- 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, article number: 102496. (10.1016/j.jimonfin.2021.102496)
- Lyu, J., Le, V., Meenagh, D. and Minford, A. 2021. Macroprudential regulation in the post-crisis era: has the pendulum swung too far?. Journal of International Financial Markets, Institutions and Money 74, article number: 101381. (10.1016/j.intfin.2021.101381)
- Le, V. P. M., Matthews, K., Meenagh, D., Minford, P. and Xiao, Z. 2021. Shadow banks, banking policies and China's macroeconomic fluctuations. Journal of International Money and Finance 116, article number: 102415. (10.1016/j.jimonfin.2021.102415)
- Wang, C., Le, V. P. M., Matthews, K. and Zhou, P. 2021. Shadow banking activity and entrusted loans in a DSGE model of China. Manchester School 89(5), pp. 445-469. (10.1111/manc.12319)
- Le, V. P. M., Matthews, K., Meenagh, D., Minford, A. and Xiao, Z. 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., 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, article number: 101199. (10.1016/j.intfin.2020.101199)
- 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)
- 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)
- Le, V. P. M., Meenagh, D., Minford, A. and Wickens, M. 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)
- 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., Meenagh, D., Minford, A. P. L., Wickens, M. and Xu, Y. 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)
- Collie, D. and Le, V. 2015. Product differentiation, the volume of trade and profits under Cournot and Bertrand Duopoly. International Journal of the Economics of Business 22(1), pp. 73-86. (10.1080/13571516.2014.950476)
- Le, V. P. M., Meenagh, D., Minford, A. P. L. and Ou, Z. 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., Minford, A. P. L. and Wickens, M. 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)
- Collie, D. R. and Le, V. P. M. 2010. Antidumping regulations: anti-competitive and anti-export. Review of International Economics 18(5), pp. 796-806. (10.1111/j.1467-9396.2010.00891.x)
- Le, V. P. M., Minford, A. P. L. and Wickens, M. 2010. The 'Puzzles' methodology: En route to Indirect Inference?. Economic Modelling 27(6), pp. 1417-1428. (10.1016/j.econmod.2010.07.016)
- Le, V. P. M., Meenagh, D., Minford, A. P. L. and Wickens, M. 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. and Minford, A. P. L. 2006. Joining the European Monetary Union - Comparing First and Second Generation Open Economy Models. Open Economies Review 17(3), pp. 281-296. (10.1007/s11079-006-9050-0)
Book sections
- Le, V. P. M., Minford, A. P. L. and Nowell, E. 2011. Measuring the extent and costs of EU protectionism. In: Jovanovic, M. N. ed. International handbook on the economics of integration: factor mobility, agriculture, environment and quantitative studies., Vol. 3. Elgar Original Reference Edward Elgar Publishing Ltd, pp. 316-342.
- Vo Phuong, M. L., Minford, A. P. L. and Nowell, E. 2009. European economic policy: protectionism as an elite strategy. In: Gamble, A. and Lane, D. eds. The European Union and World Politics: Consensus and Division. Palgrave Macmillan, pp. 217-234.
Books
- Minford, P., Gupta, S., Le, V. P. M., Mahambare, V. and Xu, Y. 2015. Should Britain leave the EU? An economic analysis of a troubled relationship (2nd edition). United Kingdom: Edward Elgar. (10.4337/9781785360336)
Monographs
- Lyu, J., Le, V., Meenagh, D. and Minford, A. 2021. Macroprudential regulation in the post-crisis era: has the pendulum swung too far?. Working paper. Cardiff Economics Working Papers.
- 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.
- le, V. P. M. and Naraidoo, R. 2019. Monetary policy in a model with commodity and financial markets. Working paper. Economic Research Southern Africa and Cardiff University.
- Collie, D. R. and Le, V. P. M. 2008. Anti-dumping regulations: anti-competitive and anti-export. Working paper. Cardiff: Cardiff University.
Research
Primary research interests
- Applied Macroeconomics
- Modelling and Testing Macroeconomic Models
- Monetary Policy and Financial Frictions
- International Trade
Funded Research
- Sumitomo Foundation 2023-2024: $3000 (with David Meenagh) : Could an economy get stuck on a rational pessimism sunspot path? The case of Japan.
- ESRC and NSFC 2017-2020: £265,000 and 2 million RMB (with Kent Matthews, David Meenagh, Kul Luintel, Patrick Minford, Tianshu Zhao, Akos Valentinyi, Lucy Barros): Shadow Banking and the Chinese Economy - A Micro to Macro Modelling Framework.
- The British Academy's Newton Mobility Grant 2016-2017: £6700 (with Ruthira Naraidoo) NG160048
External Engagements:
- Associate Editor of Open Economies Review
- Member of the Executive Board of the Vietnamese Intellectual Society in the UK and Ireland
- Associate Researcher at Liverpool Macroeconomics Group
- Associate Researcher at Julian Hodge Institute of Applied Macroeconomics
- Member of CReMMF Research Group
Teaching
Teaching commitments
- Macroeconomic Analysis (Year 3)
- Advanced Macroeconomics (PhD)
- Macroeconomics (Year 1)
Biography
Qualifications
- Phd Economics (Cardiff University) 2008
- MSc Economics (Cardiff University) with distinction 2004
- BSc Economics (Cardiff University) with 1st Class honours 2003
Honours and awards
- Full Julian Hodge PhD Scholarship 2003-2005
- Cardiff Business School Scholarship 2005-2008
- Economic and Social Research Council (ESRC) Post Doctoral Research Fellowship 2008-2010
- Japan Society for the Promotion of Science, Summer Visiting Research Fellowship 2010
Supervisions
Current supervision
Wenjing Wang
Contact Details
LeVP@cardiff.ac.uk
+44 29208 76566
Aberconway Building, Room B22, Colum Road, Cathays, Cardiff, CF10 3EU
+44 29208 76566
Aberconway Building, Room B22, Colum Road, Cathays, Cardiff, CF10 3EU