Ronald Macdonald
Biographic Data
| ID | 3605025 |
|---|---|
| NAME | Ronald Macdonald |
| GIVEN NAMES | Ronald |
| FAMILY NAME | Macdonald |
| SIGNATURE | MACDONALD R |
| AFFILIATIONS | University of Strathclyde |
| ORCID | 0000-0001-5900-5306 |
| VERIFIED | Yes |
| TOTAL WORKS | 24 |
| TOTAL CITATIONS | 58 |
| AUTHOR COUNT | 23 |
| EDITOR COUNT | 1 |
| FIRST PUBLICATION YEAR | 1905 |
| LATEST PUBLICATION YEAR | 2015 |
| H-INDEX | 3 |
Are People Who Participate in Cultural Activities More Satisfied with Life
Exchange Rate Pass-Through in Developing and Emerging Markets: A Survey of Conceptual, Methodological and Policy Issues, and Selected Empirical Findings
Global integration has increased the international linkages of financial markets for emerging market countries. A key channel for the international transmission of inflation and economic cycles is from exchange rate movements to domestic prices, known as exchange rate pass-through (ERPT). This article reviews the conceptual, methodological and policy issues connected with ERPT in emerging market and developing countries, and critically surveys se…
Monetary Transmission Mechanism in Central and Eastern Europe: Gliding on a Wind of Change
Modeling the ECU Against the U.S. Dollar: A Structural Monetary Interpretation
The proposal that a reformed international monetary system be designed around currency blocs has gained some popularity of late. In Europe, the formation of the Euro formalizes the existence of a DM-based currency block. Little academic research has been conducted, however, on the properties of composite currencies such as the Euro. In this article, we examine the properties of the precursor to the Euro—namely, the ECU—against the U.S. dollar usi…
Exchange Rate Behaviour: Are Fundamentals Important
On Fundamentals and Exchange Rates: A Casselian Perspective
Using an expanded version of the purchasing-power-parity condition we construct simultaneous equation models for three key exchange rates which incorporate meaningful long-run equilibrium relationships and complex short-run dynamics. We show that fully dynamic out-of-sample forecasts from these models are capable of significantly outperforming those of a random walk model over horizons as short as 3 months, and that they are also more accurate th…
Crash! Expectational Aspects of the Departures of the United Kingdom and the United States from the Inter-War Gold Standard
On the Expectations View of the Term Structure, Term Premia and Survey- Based Expectations
In this paper UK disaggregate survey data of expected future interest rates are used to test the \nexpectations model of the term structure of interest rates at the short end of the maturity spectrum. \nIn the aggregate, the expectations model is rejected, and both time-varying term premia and \nexpected interest rate changes are demonstrated to be important in explaining the slope of the yield \ncurve. Within the aggregate data, however, we demo…
Exchange Rate Theory: Chaotic of Foreign Exchange Markets
Journal Article Exchange Rate Theory: Chaotic of Foreign Exchange Markets Get access Exchange Rate Theory: Chaotic Models of Foreign Exchange Markets. By Degrauwe (Paul), Dewachter (Hans) and Embrechts (Mark). (Oxford and Cambridge, MA: Basil Blackwell, 1993. Pp. xvii + 273. £35.00 hardback. ISBN 0 631 180168.) Ronald MacDonald Ronald MacDonald University of Strathclyde Search for other works by this author on: Oxford Academic Google Scholar The …
Long-Run Purchasing Power Parity: Is it for Real
In this paper we re-examine the purchasing power \nparity concept using data from the recent experience with \nfloating exchange rates. In particular, we utilise the recently \ndeveloped multivariate cointegration methodology to test for \na long-run relationship between exchange rates and relative \nprices and also to test for the proportionality of the exchange \nrate with respect to relative prices. In contrast to much other \nresearch, we dem…
Regional House Prices in Britain: Long‐run Relationships and Short‐run Dynamics
The Efficiency of CAC Stock Price Forecasts: A Survey Based Perspective
[fre] The Efficiency of CAC Stock. Price Forecasts. A Survey Based Perspective Dans cet article, nous nous proposons d'analyser les problèmes relatifs à l'anticipation des cours boursiers en utilisant les réponses à une enquête qualitative sur l'indice général CAC. Nous examinons la rationalité des anticipations et le type de mécanisme qui caractérise le mieux les anticipations des agents. Nous trouvons, entre autres, que les anticipations sont n…
Global Linkages: Macroeconomic Interdependence and Cooperation in the World Economy
Journal Article Global Linkages: Macroeconomic Interdependence and Cooperation in the World Economy Get access By Warwick J. Mckibbin and Jeffrey D. Sachs. (Washington, D.C.: Brookings Institution, 1991. Pp. xvi + 277. US $36.95 hardback, US $16.95 paperback. ISBN 0 8157 1508 o, 0 8157 1507 2.) Ronald MacDonald Ronald MacDonald University of Dundee Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volu…
Exchange Rates, Policy Convergence, and the European Monetary System
We analyze the degree of policy convergence of \nEMS member countries relative to that of some non-EMS \ncountries. Interestingly, we find convergence for the nominal \nand real exchange rates and money supplies of the EMS \nmembers but not for the non-EMS countries. We also provide \nsome evidence to support the "German leadership hypothesis" \nin the context of intra-EMS monetary policy convergence
Blueprints for Exchange-Rate Management
List of Figures. List of Tables. Preface. List of Conference Participants. M. Miller, B. Eichengreen, and R. Portes, Editors' Introduction. Historical Perspectives: A. Giovannini, How Do Fixed-Exchange-Rate Regimes Work? Evidence from the Gold Standard, Bretton Woods and the EMS. B. Eichengreen, Discussion. S.N. Broadberry, Monetary Interdependence and Deflation in Britain and the United States between the Wars. P. Turner, Discussion. Theoretical…
Exchange Rates and Open Economy Macroeconomics
Journal Article Exchange Rates and Open Economy Macroeconomics Get access Exchange Rates and Open Economy Macroeconomics. Edited by RONALD MACDONALD and MARK P. TAYLOR. (Oxford: Basil Blackwell, 1989. Pp. xx+371. £35.00 hardback. ISBN 0631 162380.) Paul De Grauwe Paul De Grauwe Katholieke Universiteit, Leuven Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 402, 1 September 1990, Pag…
Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K
Journal Article Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K. Get access Ronald MacDonald, Ronald MacDonald University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar Alan E. H. Speight Alan E. H. Speight University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 394, 1 March 1989, Pages 83–91, https…
Monetary Policy and the Real Interest Rate: Some U.K. Evidence
This paper examines the effects on ten- and twenty-year real U.K. interest rates of anticipated and unanticipated monetary overshoots for the period 1982.11 to 1986.10 (part of the period of the U.K.'s recent experience of monetary targeting), and it demonstrates, inter alia, that, on the day of monetary announcements, unanticipated surprises have a significantly positive effect. The novel features of this analysis are the use of the market-deter…
PoundM3 Surprises and Asset Prices
In this paper the relationship between unanticipated sterling M3 (?M3) and a variety of \nasset prices is investigated for part of the UK's experience with monetary targeting. The \nunanticipated component of monetary growth is generated using Money Market Services \n(UK) survey data and an ARIMA model. It is demonstrated that the UK survey data are \nrational, in that they are an unbiased and efficient forecast, and that the market efficiently \…
The Exchange Rate Environment
Journal Article The Exchange Rate Environment Get access The Exchange Rate Environment. By SIMON BROOKS, KEITH CUTHERBERTSON and DAVID G. MAYES. (Beckenham: Croom Helm, 1986. Pp. xiii + 294. à £39.95 hardback.) R. MacDonald R. MacDonald University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 97, Issue 386, 1 June 1987, Pages 521–522, https://doi.org/10.2307/2232906 Published: 01…
Some Tests of the Rational Expectations Hypothesis in the Foreign Exchange Market
The Arctic Frontier
This book is about the North as a frontier, and about Canada's relations with the world beyond that frontier. It is about the Arctic community of which Canada is one of the major members. Canadians have long been aware of the significance of their Atlantic and Pacific frontiers and of the implications of their Southern frontier.
Journeys in Bhutan: Discussion
Exploration and Survey with the Tibet Frontier Commission, and from Gyangtse to Simla Via Gartok: Discussion
Regional House Prices in Britain: Long‐run Relationships and Short‐run Dynamics
Are People Who Participate in Cultural Activities More Satisfied with Life
Crash! Expectational Aspects of the Departures of the United Kingdom and the United States from the Inter-War Gold Standard
Exchange Rate Behaviour: Are Fundamentals Important
Global Linkages: Macroeconomic Interdependence and Cooperation in the World Economy
Journal Article Global Linkages: Macroeconomic Interdependence and Cooperation in the World Economy Get access By Warwick J. Mckibbin and Jeffrey D. Sachs. (Washington, D.C.: Brookings Institution, 1991. Pp. xvi + 277. US $36.95 hardback, US $16.95 paperback. ISBN 0 8157 1508 o, 0 8157 1507 2.) Ronald MacDonald Ronald MacDonald University of Dundee Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volu…
Exchange Rates and Open Economy Macroeconomics
Journal Article Exchange Rates and Open Economy Macroeconomics Get access Exchange Rates and Open Economy Macroeconomics. Edited by RONALD MACDONALD and MARK P. TAYLOR. (Oxford: Basil Blackwell, 1989. Pp. xx+371. £35.00 hardback. ISBN 0631 162380.) Paul De Grauwe Paul De Grauwe Katholieke Universiteit, Leuven Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 402, 1 September 1990, Pag…
Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K
Journal Article Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K. Get access Ronald MacDonald, Ronald MacDonald University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar Alan E. H. Speight Alan E. H. Speight University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 394, 1 March 1989, Pages 83–91, https…
Exploration and Survey with the Tibet Frontier Commission, and from Gyangtse to Simla Via Gartok: Discussion
Journeys in Bhutan: Discussion
The Arctic Frontier
This book is about the North as a frontier, and about Canada's relations with the world beyond that frontier. It is about the Arctic community of which Canada is one of the major members. Canadians have long been aware of the significance of their Atlantic and Pacific frontiers and of the implications of their Southern frontier.
Some Tests of the Rational Expectations Hypothesis in the Foreign Exchange Market
PoundM3 Surprises and Asset Prices
In this paper the relationship between unanticipated sterling M3 (?M3) and a variety of \nasset prices is investigated for part of the UK's experience with monetary targeting. The \nunanticipated component of monetary growth is generated using Money Market Services \n(UK) survey data and an ARIMA model. It is demonstrated that the UK survey data are \nrational, in that they are an unbiased and efficient forecast, and that the market efficiently \…
The Exchange Rate Environment
Journal Article The Exchange Rate Environment Get access The Exchange Rate Environment. By SIMON BROOKS, KEITH CUTHERBERTSON and DAVID G. MAYES. (Beckenham: Croom Helm, 1986. Pp. xiii + 294. à £39.95 hardback.) R. MacDonald R. MacDonald University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 97, Issue 386, 1 June 1987, Pages 521–522, https://doi.org/10.2307/2232906 Published: 01…
Monetary Policy and the Real Interest Rate: Some U.K. Evidence
This paper examines the effects on ten- and twenty-year real U.K. interest rates of anticipated and unanticipated monetary overshoots for the period 1982.11 to 1986.10 (part of the period of the U.K.'s recent experience of monetary targeting), and it demonstrates, inter alia, that, on the day of monetary announcements, unanticipated surprises have a significantly positive effect. The novel features of this analysis are the use of the market-deter…
Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K
Journal Article Consumption, Saving and Rational Expectations: Some Further Evidence for the U.K. Get access Ronald MacDonald, Ronald MacDonald University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar Alan E. H. Speight Alan E. H. Speight University of Aberdeen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 394, 1 March 1989, Pages 83–91, https…
Exchange Rates and Open Economy Macroeconomics
Journal Article Exchange Rates and Open Economy Macroeconomics Get access Exchange Rates and Open Economy Macroeconomics. Edited by RONALD MACDONALD and MARK P. TAYLOR. (Oxford: Basil Blackwell, 1989. Pp. xx+371. £35.00 hardback. ISBN 0631 162380.) Paul De Grauwe Paul De Grauwe Katholieke Universiteit, Leuven Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 402, 1 September 1990, Pag…
Exchange Rates, Policy Convergence, and the European Monetary System
We analyze the degree of policy convergence of \nEMS member countries relative to that of some non-EMS \ncountries. Interestingly, we find convergence for the nominal \nand real exchange rates and money supplies of the EMS \nmembers but not for the non-EMS countries. We also provide \nsome evidence to support the "German leadership hypothesis" \nin the context of intra-EMS monetary policy convergence
Blueprints for Exchange-Rate Management
List of Figures. List of Tables. Preface. List of Conference Participants. M. Miller, B. Eichengreen, and R. Portes, Editors' Introduction. Historical Perspectives: A. Giovannini, How Do Fixed-Exchange-Rate Regimes Work? Evidence from the Gold Standard, Bretton Woods and the EMS. B. Eichengreen, Discussion. S.N. Broadberry, Monetary Interdependence and Deflation in Britain and the United States between the Wars. P. Turner, Discussion. Theoretical…
Global Linkages: Macroeconomic Interdependence and Cooperation in the World Economy
Journal Article Global Linkages: Macroeconomic Interdependence and Cooperation in the World Economy Get access By Warwick J. Mckibbin and Jeffrey D. Sachs. (Washington, D.C.: Brookings Institution, 1991. Pp. xvi + 277. US $36.95 hardback, US $16.95 paperback. ISBN 0 8157 1508 o, 0 8157 1507 2.) Ronald MacDonald Ronald MacDonald University of Dundee Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volu…
Long-Run Purchasing Power Parity: Is it for Real
In this paper we re-examine the purchasing power \nparity concept using data from the recent experience with \nfloating exchange rates. In particular, we utilise the recently \ndeveloped multivariate cointegration methodology to test for \na long-run relationship between exchange rates and relative \nprices and also to test for the proportionality of the exchange \nrate with respect to relative prices. In contrast to much other \nresearch, we dem…
Regional House Prices in Britain: Long‐run Relationships and Short‐run Dynamics
The Efficiency of CAC Stock Price Forecasts: A Survey Based Perspective
[fre] The Efficiency of CAC Stock. Price Forecasts. A Survey Based Perspective Dans cet article, nous nous proposons d'analyser les problèmes relatifs à l'anticipation des cours boursiers en utilisant les réponses à une enquête qualitative sur l'indice général CAC. Nous examinons la rationalité des anticipations et le type de mécanisme qui caractérise le mieux les anticipations des agents. Nous trouvons, entre autres, que les anticipations sont n…
On the Expectations View of the Term Structure, Term Premia and Survey- Based Expectations
In this paper UK disaggregate survey data of expected future interest rates are used to test the \nexpectations model of the term structure of interest rates at the short end of the maturity spectrum. \nIn the aggregate, the expectations model is rejected, and both time-varying term premia and \nexpected interest rate changes are demonstrated to be important in explaining the slope of the yield \ncurve. Within the aggregate data, however, we demo…
Exchange Rate Theory: Chaotic of Foreign Exchange Markets
Journal Article Exchange Rate Theory: Chaotic of Foreign Exchange Markets Get access Exchange Rate Theory: Chaotic Models of Foreign Exchange Markets. By Degrauwe (Paul), Dewachter (Hans) and Embrechts (Mark). (Oxford and Cambridge, MA: Basil Blackwell, 1993. Pp. xvii + 273. £35.00 hardback. ISBN 0 631 180168.) Ronald MacDonald Ronald MacDonald University of Strathclyde Search for other works by this author on: Oxford Academic Google Scholar The …
On Fundamentals and Exchange Rates: A Casselian Perspective
Using an expanded version of the purchasing-power-parity condition we construct simultaneous equation models for three key exchange rates which incorporate meaningful long-run equilibrium relationships and complex short-run dynamics. We show that fully dynamic out-of-sample forecasts from these models are capable of significantly outperforming those of a random walk model over horizons as short as 3 months, and that they are also more accurate th…
Crash! Expectational Aspects of the Departures of the United Kingdom and the United States from the Inter-War Gold Standard
Exchange Rate Behaviour: Are Fundamentals Important
Modeling the ECU Against the U.S. Dollar: A Structural Monetary Interpretation
The proposal that a reformed international monetary system be designed around currency blocs has gained some popularity of late. In Europe, the formation of the Euro formalizes the existence of a DM-based currency block. Little academic research has been conducted, however, on the properties of composite currencies such as the Euro. In this article, we examine the properties of the precursor to the Euro—namely, the ECU—against the U.S. dollar usi…
Monetary Transmission Mechanism in Central and Eastern Europe: Gliding on a Wind of Change
Exchange Rate Pass-Through in Developing and Emerging Markets: A Survey of Conceptual, Methodological and Policy Issues, and Selected Empirical Findings
Global integration has increased the international linkages of financial markets for emerging market countries. A key channel for the international transmission of inflation and economic cycles is from exchange rate movements to domestic prices, known as exchange rate pass-through (ERPT). This article reviews the conceptual, methodological and policy issues connected with ERPT in emerging market and developing countries, and critically surveys se…
Are People Who Participate in Cultural Activities More Satisfied with Life
Economics (19 works) · Monetary Policy and Economic Impact (14 works) · Monetary economics (10 works) · Computer Science (8 works) · Exchange rate (8 works) · Political science (8 works) · Global Financial Crisis and Policies (7 works) · Macroeconomics (7 works) · Economic theories and models (6 works) · Keynesian economics (6 works)