Publications & Citations
Journal article
| Year | Title / Publication | Link |
|---|---|---|
| 2024 | Determinants of the degree of fiscal sustainability. International Journal of Finance & Economics International Journal of Economics and Finance |
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| 2024 | Beyond borders: Assessing the influence of Geopolitical tensions on sovereign risk dynamics European Journal of Political Economy |
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| 2024 | Sovereign risk dynamics in the EU: The time varying relevance of fiscal and external (im)balances* Journal of International Financial Markets, Institutions and Money |
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| 2024 | Banks’ portfolio of government debt and sovereign risk: From Safe Havens to Stormy Seas Finance Research Letters |
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| 2024 | Financial, institutional, and macroeconomic determinants of cross-country portfolio equity flows: the case of developed countries Economic Modelling |
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| 2024 | Beyond the Centre: Tracing Decentralization’s Influence on Time-varying Fiscal Sustainability International Review of Economics & Finance |
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| 2023 | The nexus between fiscal and current account imbalances in OECD economies Applied Economics |
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| 2023 | Public finances solvency in the Euro Area Economic Analysis and Policy |
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| 2023 | Fiscal and current account imbalances: the cases of Germany and Portugal World Economy |
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| 2023 | Minimum Wage and Collective Bargaining Shocks: A Narrative Database for Advanced Economies IZA Journal of Labor Policy |
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| 2023 | Does government spending efficiency improve fiscal sustainability?. European Journal of Political Economy |
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| 2023 | Unemployment and Financial Development: Evidence for OECD Countries Comparative Economic Studies |
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| 2022 | The Role of Fiscal Policies for External Imbalances: Evidence from the European Union Economic Systems |
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| 2022 | Twin Deficits Revisited: a role for fiscal institutions? Journal of International Money and Finance |
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| 2022 | Fiscal Sustainability in the PALOP Economies Notas Económicas |
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| 2022 | Financial and economic development in the context of the global 2008-09 financial crisis INTERNATIONAL ECONOMICS |
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| 2022 | Do Financial Markets Reward Government Spending Efficiency? Journal of International Financial Markets, Institutions and Money |
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| 2022 | Does the Introduction of Stock Exchange Markets Boost Economic Growth in African Countries? Journal of Comparative Economics |
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| 2022 | Current Account Targeting Hypothesis versus Twin Deficit Hypothesis: the EMU experience of Portugal Cuadernos Economicos de ICE |
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| 2022 | Time-varying cyclicality of fiscal policy: The case of the Euro area North American Journal of Economics and Finance |
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| 2022 | To consolidate or not to consolidate? A multi-step analysis to assess needed fiscal sustainability INTERNATIONAL ECONOMICS |
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| 2022 | Are fiscal consolidation episodes helpful for public sector efficiency? Applied Economics |
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| 2022 | The (non-)Keynesian effects of fiscal austerity: New evidence from a large sample Economic Systems |
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| 2022 | Fiscal Reaction Functions in the EU: A Tale of “r-g” and Whether it Matters Revue Française d'Economie |
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| 2022 | Sovereign bond yield spreads spillovers in the Economic and Monetary Union International Journal of Finance & Economics |
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| 2022 | Fiscal episodes in the Economic and Monetary Union: Elasticities and non-Keynesian effects International Journal of Finance & Economics |
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| 2021 | Structural tax reforms and public spending efficiency Open Economies Review |
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| 2021 | Taxation and public spending efficiency: An international comparison, Comparative Economic Studies |
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| 2021 | Labour Productivity in State-Owned Enterprises Comparative Economic Studies |
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| 2021 | Government Size, Unemployment, and Inflation Nexus in Eight Large Emerging Market Economies Review of Public Economics |
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| 2021 | Public Debt and Economic Growth in Brazil Public Finance Notebooks |
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| 2021 | Corruption and economic growth: does the size of the government matter? Economic Change and Restructuring |
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| 2020 | Economic Volatility and Sovereign Yields' Determinants: a Time-Varying Approach Empirical Economics |
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| 2020 | The effects of Macroeconomic, fiscal and monetary policy announcements on sovereign bond spreads International Review of Law and Economics |
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| 2020 | Stock Flow Adjustments in Sovereign Debt Dynamics: The role of Fiscal Frameworks International Review of Economics and Finance |
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| 2020 | The Macroeconomic Effects of Public Debt: An Empirical Analysis of Mozambique Applied Economics |
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| 2020 | Local Territorial Reform and Regional Spending Efficiency Local Government Studies |
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| 2020 | Long-run relationship between exports and imports: current account sustainability tests for the EU Portuguese Economic Journal |
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| 2020 | The policy mix in the US and EMU: Evidence from a SVAR analysis North American Journal of Economics and Finance |
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| 2020 | The transmission of unconventional monetary policy to bank credit supply: Evidence from the TLTRO Manchester School |
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| 2019 | Economic Growth, Public, and Private Investment Returns in 17 OECD Economies Portuguese Economic Journal |
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| 2019 | Assessing the Sustainability of External Imbalances in the European Union The World Economy |
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| 2019 | A note on Inflation Dynamics, Price Volatility and Fiscal Activism Macroeconomic Dynamics |
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| 2019 | Quantitative Easing and Sovereign Yield Spreads: Euro-Area Time-Varying Evidence Journal of International Financial Markets, Institutions & Money |
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| 2019 | The Fiscal Consequences of Deflation: Evidence from the Golden Age of Globalization Quarterly Review of Economics and Finance |
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| 2019 | A Note on Inflation Dynamics, Price Volatility and Fiscal Activism Macroeconomic Dynamics |
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| 2019 | Sovereign indebtedness and financial and fiscal conditions Applied Economics Letters |
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| 2019 | The Fiscal Consequences of Deflation: Evidence from the Golden Age of Globalization Quarterly Review of Economics and Finance |
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| 2019 | Local Territorial Reform and Regional Spending Efficiency Local Government Studies |
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| 2019 | Sovereign Ratings and Finance Ministers' Characteristics ECONOMICS BULLETIN |
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| 2019 | Long-run relationship between exports and imports: current account sustainability tests for the EU Portuguese Economic Journal |
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| 2019 | How “Big” Should Government Be? Economics and Business Letters |
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| 2019 | Fiscal Multipliers in the Eurozone: A SVAR Analysis Applied Economics |
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| 2019 | Tax Structure for Consumption and Income Inequality: an Empirical Assessment SERIEs - Journal of the Spanish Economic Association |
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| 2019 | Exchange-traded Funds as an Alternative Investment Option: a Case Study Notas Económicas |
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| 2019 | Interactions between Monetary and Fiscal Policies Journal of Applied Economics |
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| 2019 | Fiscal Rules and Government Financing Costs Fiscal Studies |
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| 2019 | Short and Long-Term Interest Rate Risk: The Sovereign Balance-Sheet Nexus Finance Research Letters |
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| 2019 | Fiscal Reaction Functions Across the World: A Battle of Statistical (In-)Significance FinanzArchiv |
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| 2018 | Fiscal developments and financial stress: a threshold VAR analysis Empirical Economics |
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| 2018 | Debt crisis and 10-year sovereign yields in Ireland and in Portugal Applied Economics Letters |
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| 2018 | Euro Area Sovereign Yields and the Power of Unconventional Monetary Policy Finance A Uver-Czech Journal of Economics and Finance |
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| 2018 | Effects of euro area monetary policy on institutional sectors: the case of Portugal CUADERNOS DE ECONOMIA |
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| 2018 | "Whatever it takes" to resolve the European sovereign debt crisis? Bond pricing regime switches and monetary policy effects Journal of International Money and Finance |
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| 2018 | Sovereign Credit Rating Mismatches Notas Económicas |
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| 2018 | Decomposing and Analysing the Determinants of Current Accounts' Cyclicality: Evidence from the Euro Area Open Economies Review |
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| 2018 | The Policy Mix in the US and EMU: Evidence from a SVAR Analysis North American Journal of Economics and Finance |
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| 2018 | Short and Long-Term Interest Rate Risk: The Sovereign Balance-Sheet Nexus Finance Research Letters |
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| 2018 | Fiscal Rules and Government Financing Costs Fiscal Studies |
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| 2018 | Interactions between Monetary and Fiscal Policies Journal of Applied Economics |
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| 2018 | The Policy Mix in the US and EMU: Evidence from a SVAR Analysis North American Journal of Economics and Finance |
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| 2017 | Determinants of non-resident government debt ownership Applied Economics Letters |
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| 2017 | Reconsidering Wagner's Law: Evidence from the Functions of the Government Applied Economics Letters |
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| 2017 | The Price Relevance of Fiscal Developments International Economic Review |
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| 2017 | Assessment of efficiency in basic and secondary education in Tunisia: A regional analysis International Journal of Educational Development |
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| 2017 | Current account balance cyclicality Applied Economics Letters |
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| 2017 | Fiscal Episodes and Market Power Open Economies Review |
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| 2017 | Euro area time varying fiscal sustainability International Journal of Finance and Economics |
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| 2017 | SOVEREIGN DEBT COMPOSITION AND TIME-VARYING PUBLIC FINANCE SUSTAINABILITY North American Journal of Economics and Finance |
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| 2016 | Budgetary decomposition and yield spreads Applied Economics Letters |
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| 2016 | The relevance of commuting zones for regional spending efficiency Applied Economics |
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| 2015 | The Elusive Character of Fiscal Sustainability Applied Economics |
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| 2015 | Monetary Developments and Expansionary Fiscal Consolidations: Evidence from the EMU International Journal of Finance and Economics |
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| 2015 | The role of government debt in economic growth Review of Public Economics |
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| 2015 | The track record of fiscal forecasting in the EU Economics Bulletin |
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| 2015 | Markups’ Cyclical Behavior: The role of Demand and Supply Shocks Applied Economics Letters |
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| 2015 | How does fiscal policy affect investment? Evidence from a large panel International Journal of Finance and Economics |
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| 2015 | Economic Performance, Government Size, and Institutional Quality Empirica |
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| 2015 | Short and Long-run Behaviour of Long-term Sovereign Bond Yields Applied Economics |
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| 2015 | Fiscal Sustainability: A Panel Assessment of Advanced Economies Applied Economics Letters |
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| 2015 | Multi-step analysis of public finances sustainability Economic Modelling |
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| 2015 | On the time-varying relationship between EMU sovereign spreads and their determinants Economic Modelling |
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| 2015 | Economic forecasts and sovereign yields Economic Modelling |
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| 2015 | The Role of Government Debt in Economic Growth Hacienda Publica Espanola |
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| 2014 | The relevance of fiscal rules for fiscal and sovereign yield developments Applied Economics Letters |
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| 2014 | Causality for the government budget and economic growth Applied Economics Letters |
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| 2014 | Sovereign credit ratings, market volatility, and financial gains Computational Statistics & Data Analysis |
Book
| Year | Title / Publication | Link |
|---|---|---|
| 2023 | Handbook on efficiency in the public sector Edward Elgar Publishing |
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| 2022 | Economia Monetária e Financeira Escolar Editora |
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| 2022 | Economia e Finanças Públicas Escolar Editora |
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| 2020 | Long-run relationship between exports and imports: current account sustainability tests for the EU Portuguese Economic Journal |
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| 2018 | Economia Monetária e Financeira Escolar Editora |
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| 2016 | Economia e Finanças Públicas Escolar Editora |
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| 2016 | Introdução à Economia Financeira: Teoria e Exercícios Escolar Editora |
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| 2012 | Economia Monetária e Financeira Escolar Editora |
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| 2012 | Economia e Finanças Públicas Escolar Editora |
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Chapter
| Year | Title / Publication | Link |
|---|---|---|
| 2023 | Government spending efficiency, measurement and applications: A cross-country efficiency dataset Edward Elgar Publishing |
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| 2018 | Do Finance Ministers characteristics mater? EU Finance Ministers, capital markets and fiscal outcomes Almedina |
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| 2013 | Fiscal Composition and Long-term Growth SUERF |
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Paper presented at academic or professional meetings
| Year | Title / Publication | Link |
|---|---|---|
| 2021 | Do financial markets reward public spending efficiency? |
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| 2021 | Do financial markets reward public spending efficiency? |
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| 2020 | Taxation and public spending efficiency: An international comparison |
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| 2020 | Structural tax reforms and public spending efficiency |
Teaching
2024/2025
| Semester | Course | Degree | Coordinator |
|---|---|---|---|
| 2º | Economia Monetária e Financeira | Licenciatura Bolonha em Economia - Economia, Licenciatura Bolonha em Gestão - Gestão, Licenciatura Bolonha em Matemática Aplicada à Economia e à Gestão - Matemática Aplicada à Economia e à Gestão | Yes |
| 2º | Monetary and Financial Economics | Licenciatura Bolonha em Economia - Economics, Licenciatura Bolonha em Gestão - Management | Yes |
| 2º | Tópicos de Macroeconomia | Doutoramento Bolonha em Economia - Economia | Yes |
| 2º | Seminário | Doutoramento Bolonha em Economia - Economia | Yes |
| 1º | Seminário | Mestrado Bolonha em Economia Monetária e Financeira - Economia Monetária e Financeira | Yes |
| 1º | Finanças Públicas na União Económica e Monetária | Mestrado Bolonha em Economia - Economia, Mestrado Bolonha em Economia Monetária e Financeira - Economia Monetária e Financeira | Yes |
| Year | Student Name / Title / Institution | Supervision Type | Link |
|---|---|---|---|
| 2023/2024 | JOÃO FRANCISCO COELHO SILVESTRE -FINANCIAL CRISES AND ECONOMIC GROWTH: A PANEL DATA APPROACH FOR OECD COUNTRIES Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | CATARINA FARINHA MIRANDA -Euro Area and Non-Euro Area Fiscal Sustainability Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | MARIA MARGARIDA VELHINHO GUERREIRO THE RELATION BETWEEN ECONOMIC GROWTH AND FINANCIAL DEVELOPMENT Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | JOÃO CARLOS BATISTA VAZ FERREIRA DA GRAÇA -Does the size of public expenses influence long-term economic growth? the example of European countries Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | GABRIELA ESTEFANÍA BAQUERO FRAGA GOVERNMENT SPENDING EFFICIENCY IN LATIN AMERICAN COUNTRIES Instituto Superior de Economia e Gestão |
Master | Ver |
| 2020/2021 | DIOGO JANUÁRIO PIMENTEL DETERMINANTS OF SOVEREIGN DEBT RATINGS IN THE OECD Instituto Superior de Economia e Gestão |
Master | Ver |
| 2020/2021 | GONÇALO DIAS QUARESMA MONETARY POLICY EASING AND NON-KEYNESIAN EFFECTS OF FISCAL POLICY |
Master | Ver |
| 2020/2021 | MARIA MARGARIDA VELHINHO GUERREIRO The Nexus between Economic Growth and Financial Development |
Master | |
| 2020/2021 | GABRIELA ESTEFANÍA BAQUERO FRAGA Government Spending Efficiency in Latin American Countries |
Master | |
| 2020/2021 | FRANCISCO TIAGO DOS SANTOS CARVALHO Cyclicality of fiscal policy: how do Eurozone's fiscal stances change during recessions? |
Master | Ver |
| 2020/2021 | MATEUSZ MARIUSZ KIELTYK CONSEQUENCES OF THE EUROZONE AND OWN CURRENCY DURING CRISIS – POLISH AND GREECE CASE |
Master | Ver |
| 2019/2020 | MAX RENE REIMERS How does the development of private equity capital markets affect economic growth in developing countries? |
Master | Ver |
| 2019/2020 | AGATHA LECHNER DA SILVA Relationship between Government Debt and Economic Growth in Brazil |
Master | Ver |
| 2019/2020 | CATARINA GOMES DIAS Bank Competition and Stability in Portugal |
Master | Ver |
| 2019/2020 | GONÇALO DIAS QUARESMA Expansionary Fiscal Consolidations : Can Monetary Policy easing explain the non-keynesian effects of Fiscal Policy? |
Master | |
| 2019/2020 | ALEXANDRA COELHO CORREIA THE IMPACT OF FISCAL RULES ON GOVERNMENT PERFORMANCE AND BORROWING COSTS |
Master | Ver |
| 2019/2020 | ALEXANDRE MIGUEL SALVADOR DE SOUSA Interactions between monetary and fiscal policies in the European Union |
Master | Ver |
| 2019/2020 | JOSÉ DIOGO SAMPAIO COMENDA Government borrowing costs and fiscal developments |
Master | Ver |
| 2018/2019 | NUNO MIGUEL CRUZ GUIMARÃES VERDIAL Sovereign Debt Crisis in Portugal and Spain |
Master | Ver |
| 2018/2019 | CATARINA GOMES DIAS Bank competition and stability in Portugal |
Master | |
| 2018/2019 | YULIN AN ECONOMIC GROWTH AND EQUITY RETURNS: APLICATION TO THE CHINESE STOCK MARKET |
Master | Ver |
| 2018/2019 | JOSÉ DIOGO SAMPAIO COMENDA Government borrowing costs and fiscal developments |
Master | |
| 2018/2019 | YULIYA SHEVCHUK The determinants of sovereign bond yield spreads in the EMU |
Master | Ver |
| 2018/2019 | MAYARA ALICE ROCHA CABRAL LONG RUN RELATIONSHIP BETWEEN PRIVATE AND PUBLIC CAPITAL: THE CASE OF PORTUGAL |
Master | Ver |
| 2018/2019 | GRAZIELLI ANGELUCCI PAINELI Sovereign rating revaluation lags and yield spreads |
Master | Ver |
| 2017/2018 | RICARDO REIS DA TORRE Government debt and growth |
Master | Ver |
| 2017/2018 | MANUEL MARIA PINHO SILVA DO VALE PINHEIRO Political business cycle and government spending |
Master | Ver |
| 2017/2018 | PHILEMON KWAME OPOKU The linkages betweent fiscal imbalances and current account imbalances |
Master | Ver |
| 2017/2018 | NUNO MIGUEL CRUZ GUIMARÃES VERDIAL The sovereing debt crisis in Portugal and in Spain |
Master | |
| 2017/2018 | JOANA DOS REIS OLIVEIRA DE SOUSA LEITE The transmission of unconventional monetary policy to bank credit supply: evidence from the TLTROs |
Master | Ver |
| 2017/2018 | YULIN AN Economic Growth and Equity Returns: aplication to the Chinese Stockmarket |
Master | |
| 2017/2018 | YULIYA SHEVCHUK The determinants of sovereign bond yield spreads in the EMU |
Master | |
| 2016/2017 | MAYARA ALICE ROCHA CABRAL Public investment and economic growth in the EU |
Master | |
| 2016/2017 | YULIYA SHEVCHUK The determinants of euro area sovereign bond yield spreads |
Master | |
| 2016/2017 | YASFIR DAUDO IBRAIMO THE MACROECONOMIC EFFECTS OF PUBLIC DEBT: AN EMPIRICAL ANALYSIS OF MOZAMBIQUE |
Master | Ver |
| 2016/2017 | PEDRO DAVID TORRES COELHO Determinants of fiscal policy stance |
Master | |
| 2016/2017 | TERESA GASPAR SILVA THE EFFECT OF QUANTITATIVE EASING PROGRAMMES ON LONG-TERM GOVERNMENT BONDS |
Master | Ver |
| 2016/2017 | PEDRO MIGUEL MARTINS CARDOSO EXCHANGE-TRADED FUNDS AS AN ALTERNATIVE INVESTMENT OPTION? EVIDENCE FROM THE PORTUGUESE FUND INDUSTRY |
Master | Ver |
| 2016/2017 | LUÍS CARLOS PAIS GONÇALVES THE POLICY MIX IN THE US AND EMU: EVIDENCE FROM A SVAR ANALYSIS |
Master | Ver |
| 2015/2016 | TERESA GASPAR SILVA Quantitative easing programs: characteristics and results |
Master | |
| 2015/2016 | MINA KAZEMI ASSESSING PUBLIC SPENDING EFFICIENCY IN 20 OECD COUNTRIES |
Master | Ver |
| 2015/2016 | ANDRÉ MASSENA DE ALBUQUERQUE Sovereign credit rating mismatches |
Master | Ver |
| 2014/2015 | MANUEL GERARDO BELÉM TELES ROQUE DOS REIS Determinants of Sovereign Bond Spreads in the EMU |
Master | Ver |
| 2014/2015 | PEDRO MIGUEL MARTINS CARDOSO The determinants of long-term japanese government bonds' yields |
Master | |
| 2013/2014 | LUÍS PEDRO MARQUES MARTINS MONETARY DEVELOPMENTS AND EXPANSIONARY FISCAL CONSOLIDATIONS: EVIDENCE FROM THE EMU |
Master | Ver |
| 2013/2014 | RAQUEL DE OLIVEIRA BALHOTE Interactions between fiscal and monetary policy |
Master | Ver |
| 2013/2014 | ANTÓNIO JORGE ESTEVES DA SILVA The Monetary Transmission Mechanism in the Euro Area: has it changed with the EMU? |
Master | Ver |
| 2013/2014 | JOSÉ DIOGO GAIVÃO DE MELO BEIRÃO SOVEREIGN SPREADS, MONETARY AND FISCAL POLICY EVENTS: EVIDENCE FOR EU |
Master | Ver |
| 2013/2014 | JOSÉ RICARDO BORGES ALVES The Role of Government Debt on Economic Growth |
Master | Ver |
| 2012/2013 | RUI MIGUEL DA COSTA CARVALHO Revenue Forecast Errors in the European Union |
Master | Ver |
| 2012/2013 | ANTÓNIO JORGE ESTEVES DA SILVA The Monetary Policy in the Euro Area before and after the EMU - a VAR approach |
Master | |
| 2012/2013 | MARTINHO DE MATOS SILVESTRE External Debt as Long-run Equilibrium Lever |
Master | Ver |
| 2012/2013 | DIOGO FRANCISCO SAMPAIO LIMA The Portuguese Judicial System: Descriptive enquiry on problems faced and a model for productivity |
Master | Ver |
| 2012/2013 | ANA CATARINA RAMOS FÉLIX Contagion in Sovereign yield spreads |
Master | Ver |
| 2012/2013 | ANA SOFIA DA SILVA GUIMARÃES Fiscal rules: budgetary and sovereign yield developments |
Master | Ver |
| 2011/2012 | JORGE DANIEL FARIA SILVA Determinants of Budgetary Forecast Deviations |
Master | Ver |
| 2011/2012 | ANA SOFIA COSTA GERVASIO NEVES NUNES Economic forecasts and sovereing yield spreads |
Master | Ver |
Professional Experience
| Name / Description | Date | Organization |
|---|---|---|
| Coordinator of the Master in Monetary and Financial Economics |
2011 | ISEG |
| Full Professor |
2011 | ISEG |
| Senior Economist |
2002 - 2002 | Caixa Geral de Depósitos |
| Senior Economist |
1998 - 2002 | Instituto de Gestão do Crédito Público |
| Senior Economist |
1994 - 1998 | Banco Nacional Ultramarino |
| Adviser |
1994 - 1994 | Ministry of Finance |
| Consultant |
1991 - 1993 | Office for the Analysis of the Financing of State and Public Enterprises |
| Economist |
1990 - 1990 | Banco Nacional Ultramarino |
| Economist |
1989 - 1989 | Union des Assurances de Paris |