Ricardo Sousa

Doutoramento em Economia (Instituto Europeu, Escola de Economia e Ciência Política de Londres)

Departamento de Economia

Professor Associado com Agregação

rjsousa@eeg.uminho.pt

253601935 , 253 604 584

ORCID

CV Ricardo Sousa

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Publicações
Ensino

Publicações selecionadas

Agnello, L., Castro, V., & Sousa, R. M. (2021). On the duration of sovereign ratings cycle phases. Journal of Economic Behavior and Organization, 182, 512–526. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2018). The Legacy and the Tyranny of Time: Exit and Re-Entry of Sovereigns to International Capital Markets. Journal of Money, Credit and Banking, 50(8), 1969–1994. DOI

Balcilar, M., Gupta, R., Sousa, R. M., & Wohar, M. E. (2018). Wealth-to-income ratio and stock market movements: Evidence from a nonparametric causality test. International Review of Finance, 18(3), 495–506. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2015). Booms, Busts, and Normal Times in the Housing Market. Journal of Business and Economic Statistics, 33(1), 25–45. DOI

Afonso, A., & Sousa, R. M. (2011). Assessing long-term fiscal developments: Evidence from Portugal. Applied Economics Letters, 18(1), 1–5. DOI

Outras publicações

Jana, R. K., Ghosh, I., Jawadi, F., Uddin, G. S., & Sousa, R. M. COVID-19 news and the US equity market interactions: An inspection through econometric and machine learning lens. Annals of Operations Research. DOI

Elsayed, A. H., & Sousa, R. M. (2024). International monetary policy and cryptocurrency markets: dynamic and spillover effects. European Journal of Finance, 30(16), 1855–1875. DOI

Elsayed, A. H., Sohag, K., & Sousa, R. M. (2024). Oil shocks and financial stability in MENA countries. Resources Policy, 89(104653). DOI

Forsström, V., Lind, K., Sousa, R. M., Uddin, G. S., & Jayasekera, R. (2024). Making sense of uncertainty: An application to the Scandinavian banking sector. International Journal of Finance and Economics, 29(4), 3877–3903. DOI

Hammoudeh, S., Nguyen, D. K., & Sousa, R. M. (2024). China's monetary policy framework and global commodity prices. Energy Economics, 138. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2023). A quest between fiscal and market discipline. Economic Modelling, 119(106119). DOI

Agnello, L., Castro, V., & Sousa, R. M. (2023). Interest rate gaps in an uncertain global context: why “too” low (high) for “so” long? Empirical Economics, 64(2), 539–565. DOI

Costantini, M., Maaitah, A., Mishra, T., & Sousa, R. M. (2023). Bitcoin market networks and cyberattacks. Physica A: Statistical Mechanics and Its Applications, 630(129165). DOI

Agnello, L., Castro, V., & Sousa, R. M. (2022). On the international co-movement of natural interest rates. Journal of International Financial Markets, Institutions and Money, 80. DOI

Benbouzid, N., Kumar, A., Mallick, S. K., Sousa, R. M., & Stojanovic, A. (2022). Bank credit risk and macro-prudential policies: Role of counter-cyclical capital buffer. Journal of Financial Stability, 63(101084). DOI

Costantini, M., & Sousa, R. M. (2022). What uncertainty does to euro area sovereign bond markets: Flight to safety and flight to quality. Journal of International Money and Finance, 122, 102574. DOI

Hammoudeh, S., Uddin, G. S., Sousa, R. M., Wadström, C., & Sharmi, R. Z. (2022). Do pandemic, trade policy and world uncertainties affect oil price returns? Resources Policy, 77(102705). DOI

Selmi, R., Hammoudeh, S., Kasmaoui, K., Sousa, R. M., & Errami, Y. (2022). The dual shocks of the COVID-19 and the oil price collapse: A spark or a setback for the circular economy? Energy Economics, 109(105913). DOI

Agnello, L., Castro, V., & Sousa, R. M. (2021). On the duration of sovereign ratings cycle phases. Journal of Economic Behavior and Organization, 182, 512–526. DOI

Avdjiev, S., Binder, S., & Sousa, R. (2021). External debt composition and domestic credit cycles. Journal of International Money and Finance, 115, 102377. DOI

Balcilar, M., Gupta, R., Sousa, R. M., & Wohar, M. E. (2021). Linking U.S. State-level housing market returns, and the consumption-(dis)aggregate wealth ratio. International Review of Economics and Finance, 71, 779–810. DOI

Balcilar, M., Gupta, R., Sousa, R. M., & Wohar, M. E. (2021). What Can Fifty-Two Collateralizable Wealth Measures Tell Us About Future Housing Market Returns? Evidence from U.S. State-Level Data. Journal of Real Estate Finance and Economics, 62(1), 81–107. DOI

Elsayed, A. H., Hammoudeh, S., & Sousa, R. M. (2021). Inflation synchronization among the G7and China: The important role of oil inflation. Energy Economics, 100, 105332. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2020). The Housing Cycle: What Role for Mortgage Market Development and Housing Finance? Journal of Real Estate Finance and Economics, 61(4), 607–670. DOI

Agnello, L., Castro, V., Dufrénot, G., Jawadi, F., & Sousa, R. M. (2020). Unconventional monetary policy reaction functions: Evidence from the US. Studies in Nonlinear Dynamics and Econometrics, 24(4), 20180088. DOI

Agnello, L., Castro, V., Hammoudeh, S., & Sousa, R. M. (2020). Global factors, uncertainty, weather conditions and energy prices: On the drivers of the duration of commodity price cycle phases. Energy Economics, 90(104862). DOI

Agnello, L., Castro, V., Jawadi, F., & Sousa, R. M. (2020). How does monetary policy respond to the dynamics of the shadow banking sector? International Journal of Finance and Economics, 25(2), 228–247. DOI

Costantini, M., & Sousa, R. M. (2020). Consumption, asset wealth, equity premium, term spread, and flight to quality. European Financial Management, 26(3), 778–807. DOI

Nguyen, D. K., Sensoy, A., Sousa, R. M., & Uddin, G. S. (2020). U.S. equity and commodity futures markets: Hedging or financialization? Energy Economics, 86, 104660. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2019). A competing risks tale on successful and unsuccessful fiscal consolidations. Journal of International Financial Markets, Institutions and Money, 63(101148). DOI

Cabral, R., & Sousa, R. (2019). Os 20 anos do euro: O problema das lentes a “preto e zero.” Crítica Económica e Social, Nov-Dez(20), 19–24. DOI

Caporale, G. M., Sousa, R. M., & Wohar, M. E. (2019). Can the Consumption–Wealth Ratio Predict Housing Returns? Evidence from OECD Countries. Real Estate Economics, 47(4), 935–976. DOI

Sousa, J. M., & Sousa, R. M. (2019). Asset Returns Under Model Uncertainty: Evidence from the Euro Area, the US and the UK. Computational Economics, 54(1), 139–176. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2018). Economic Activity, Credit Market Conditions, and the Housing Market. Macroeconomic Dynamics, 22(7), 1769–1789. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2018). Financial Markets'' Shutdown and Reaccess. Economic Inquiry, 56(1), 562–571. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2018). Systemic financial crises and the housing market cycle. Applied Economics Letters, 25(10), 724–729. DOI

Agnello, L., Castro, V., Jalles, J. T., & Sousa, R. M. (2018). The Impact of Fiscal Consolidation on Human Development. Journal of International Development, 30(3), 399–429. DOI

An, Z., Jalles, J. T., Loungani, P., & Sousa, R. M. (2018). Do IMF fiscal forecasts add value? Journal of Forecasting, 37(6), 650–665. DOI

Armendáriz, S., Gavilán, A., & Sousa, R. (2018). Lessons from the last euro area capital flows boom-bust cycle. In E. S. Mechanism (Ed.), Cross-border capital flows and capital markets union: Quo vadis Europe? (Vol. 2018, pp. 5–18). Luxembourg, Luxembourg: European Stability Mechanism. DOI

Agnello, L., Caporale, G. M., & Sousa, R. M. (2017). How do Fiscal Consolidation and Fiscal Stimuli Impact on the Synchronization of Business Cycles? Bulletin of Economic Research, 69(4), 309–329. DOI

Agnello, L., Castro, V., Hammoudeh, S., & Sousa, R. M. (2017). Spillovers from the oil sector to the housing market cycle. Energy Economics, 61, 209–220. DOI

Agnello, L., Castro, V., Jalles, J. T., & Sousa, R. M. (2017). Income inequality, fiscal stimuli and political (in)stability. International Tax and Public Finance, 24(3), 484–511. DOI

Balcilar, M., Gupta, R., Sousa, R. M., & Wohar, M. E. (2017). Do cay and cay^MS predict stock and housing returns? Evidence from a nonparametric causality test. International Review of Economics and Finance, 48, 269–279. DOI

Benbouzid, N., Mallick, S. K., & Sousa, R. M. (2017). An international forensic perspective of the determinants of bank CDS spreads¹. Journal of Financial Stability, 33, 60–70. DOI

Benbouzid, N., Mallick, S. K., & Sousa, R. M. (2017). Do country-level financial structures explain bank-level CDS spreads? Journal of International Financial Markets, Institutions and Money, 48, 135–145. DOI

Jawadi, F., Soparnot, R., & Sousa, R. M. (2017). Assessing financial and housing wealth effects through the lens of a nonlinear framework. Research in International Business and Finance, 39, 840–850. DOI

Mallick, S. K., & Sousa, R. M. (2017). The skill premium effect of technological change: New evidence from United States manufacturing. International Labour Review, 156(1), 113–131. DOI

Sousa, J., & Sousa, R. M. (2017). Predicting risk premium under changes in the conditional distribution of stock returns. Journal of International Financial Markets, Institutions and Money, 50, 204–218. DOI

Agnello, L., Castro, V., Jalles, J. T., & Sousa, R. M. (2016). Financial stress and sovereign debt composition. Applied Economics Letters, 23(9), 678–683. DOI

Agnello, L., Fazio, G., & Sousa, R. M. (2016). National fiscal consolidations and regional inequality in Europe. Cambridge Journal of Regions, Economy and Society, 9(1), 59–80. DOI

Caporale, G. M., & Sousa, R. M. (2016). Consumption, wealth, stock and housing returns: Evidence from emerging markets. Research in International Business and Finance, 36, 562–578. DOI

Jawadi, F., Mallick, S. K., & Sousa, R. M. (2016). Fiscal and monetary policies in the BRICS: A panel VAR approach. Economic Modelling, 58, 535–542. DOI

Sousa, R. M., Vivian, A., & Wohar, M. E. (2016). Predicting asset returns in the BRICS: The role of macroeconomic and fundamental predictors. International Review of Economics and Finance, 41, 122–143. DOI

Agnello, L., & Sousa, R. M. (2015). Can re-regulation of the financial sector strike back public debt? Economic Modelling, 51, 159–171. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2015). Booms, Busts, and Normal Times in the Housing Market. Journal of Business and Economic Statistics, 33(1), 25–45. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2015). Is fiscal fatigue a threat to consolidation programmes? Environment and Planning C: Government and Policy, 33(4), 765–779. DOI

Agnello, L., Castro, V., Jalles, J. T., & Sousa, R. M. (2015). Do debt crises boost financial reforms? Applied Economics Letters, 22(5), 356–360. DOI

Agnello, L., Castro, V., Jalles, J. T., & Sousa, R. M. (2015). Fiscal consolidation and financial reforms. Applied Economics, 47(34-35), 3740–3755. DOI

Agnello, L., Castro, V., Jalles, J. T., & Sousa, R. M. (2015). What determines the likelihood of structural reforms? European Journal of Political Economy, 37, 129–145. DOI

Agnello, L., Dufrénot, G., & Sousa, R. M. (2015). Nonlinear effects of asset prices on fiscal policy: Evidence from the UK, Italy and Spain. Economic Modelling, 44, 358–362. DOI

Armada, M. J. R., Sousa, R. M., & Wohar, M. E. (2015). Consumption growth, preference for smoothing, changes in expectations and risk premium. Quarterly Review of Economics and Finance, 56, 80–97. DOI

Hammoudeh, S., Lahiani, A., Nguyen, D. K., & Sousa, R. M. (2015). An empirical analysis of energy cost pass-through to CO2 emission prices. Energy Economics, 49, 149–156. DOI

Hammoudeh, S., Nguyen, D. K., & Sousa, R. M. (2015). US monetary policy and sectoral commodity prices. Journal of International Money and Finance, 57, 61–85. DOI

Nguyen, D. K., Sousa, R. M., & Uddin, G. S. (2015). Testing for asymmetric causality between U.S. equity returns and commodity futures returns. Finance Research Letters, 12, 38–47. DOI

Sousa, R. M. (2015). Linking wealth and labour income with stock returns and government bond yields. European Journal of Finance, 21(10-11), 806–825. DOI

Sousa, R. M. (2015). What is the impact of wealth shocks on asset allocation? Quantitative Finance, 15(3), 493–508. DOI

Agnello, L., & Sousa, R. M. (2014). How does fiscal consolidation impact on income inequality? Review of Income and Wealth, 60(4), 702–726. DOI

Agnello, L., & Sousa, R. M. (2014). The determinants of the volatility of fiscal policy discretion. Fiscal Studies, 35(1), 91–115. DOI

Agnello, L., Castro, V., Jalles, J. T., & Sousa, R. M. (2014). Fiscal adjustments, labour market flexibility and unemployment. Economics Letters, 124(2), 231–235. DOI

Hammoudeh, S. M., Nguyen, D. K., & Sousa, R. M. (2014). Energy prices and CO2 emission allowance prices: A quantile regression approach. Energy Policy, 70, 201–206. DOI

Hammoudeh, S. M., Nguyen, D. K., & Sousa, R. M. (2014). What explain the short-term dynamics of the prices of CO2 emissions? Energy Economics, 46, 122–135. DOI

Jawadi, F., & Sousa, R. M. (2014). Modelling the relationship between consumption and wealth in the US, the UK and the euro area. Revue d'Economie Politique, 124(4 ), 637–650. DOI

Jawadi, F., Mallick, S. K., & Sousa, R. M. (2014). Fiscal policy in the BRICs. Studies in Nonlinear Dynamics and Econometrics, 18(2), 201–215. DOI

Jawadi, F., Mallick, S. K., & Sousa, R. M. (2014). Nonlinear monetary policy reaction functions in large emerging economies: The case of Brazil and China. Applied Economics, 46(9), 973–984. DOI

Sila, U., & Sousa, R. M. (2014). Windfall gains and labour supply: Evidence from the European Household Panel. IZA Journal of Labor Economics, 3(1), 1–27. DOI

Sousa, R. M. (2014). The effects of monetary policy in a small open economy: the case of Portugal. Applied Economics, 46(2), 240–251. DOI

Sousa, R. M. (2014). Wealth, asset portfolio, money demand and policy rule. Bulletin of Economic Research, 66(1), 95–111. DOI

Agnello, L., & Sousa, R. M. (2013). Fiscal policy and asset prices. Bulletin of Economic Research, 65(2), 154–177. DOI

Agnello, L., & Sousa, R. M. (2013). Political, institutional, and economic factors underlying deficit volatility. Review of International Economics, 21(4), 719–732. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2013). What determines the duration of a fiscal consolidation program? Journal of International Money and Finance, 37, 113–134. DOI

Agnello, L., Dufrénot, G., & Sousa, R. M. (2013). Using time-varying transition probabilities in Markov switching processes to adjust US fiscal policy for asset prices. Economic Modelling, 34, 25–36. DOI

Agnello, L., Furceri, D., & Sousa, R. M. (2013). Discretionary Government Consumption, Private Domestic Demand, and Crisis Episodes. Open Economies Review, 24(1), 79–100. DOI

Agnello, L., Furceri, D., & Sousa, R. M. (2013). How best to measure discretionary fiscal policy? Assessing its impact on private spending. Economic Modelling, 34, 15–24. DOI

Jawadi, F., & Sousa, R. M. (2013). Modelling money demand: Further evidence from an international comparison. Applied Economics Letters, 20(11), 1052–1055. DOI

Jawadi, F., & Sousa, R. M. (2013). Money demand in the euro area, the US and the UK: Assessing the role of nonlinearity. Economic Modelling, 32(1), 507–515. DOI

Jawadi, F., & Sousa, R. M. (2013). Structural breaks and nonlinearity in US and UK public debts. Applied Economics Letters, 20(7), 653–657. DOI

Mallick, S. K., & Sousa, R. M. (2013). Commodity Prices, Inflationary Pressures, and Monetary Policy: Evidence from BRICS Economies. Open Economies Review, 24(4), 677–694. DOI

Mallick, S. K., & Sousa, R. M. (2013). The real effects of financial stress in the Eurozone. International Review of Financial Analysis, 30, 1–17. DOI

Afonso, A., & Sousa, R. M. (2012). The macroeconomic effects of fiscal policy. Applied Economics, 44(34), 4439–4454. DOI

Agnello, L., & Sousa, R. M. (2012). Fiscal adjustments and income inequality: A first assessment. Applied Economics Letters, 19(16), 1627–1632. DOI

Agnello, L., & Sousa, R. M. (2012). How do banking crises impact on income inequality? Applied Economics Letters, 19(15), 1425–1429. DOI

Agnello, L., Castro, V., & Sousa, R. M. (2012). How does fiscal policy react to wealth composition and asset prices? Journal of Macroeconomics, 34(3), 874–890. DOI

Agnello, L., Mallick, S. K., & Sousa, R. M. (2012). Financial reforms and income inequality. Economics Letters, 116(3), 583–587. DOI

Armada, M. J. R., & Sousa, R. M. (2012). Can the wealth-to-income ratio be a useful predictor in alternative finance? evidence from the housing risk premium. International Symposia in Economic Theory and Econometrics, 22, 67–79. DOI

Castro, V., & Sousa, R. M. (2012). How do central banks react to wealth composition and asset prices? Economic Modelling, 29(3), 641–653. DOI

Mallick, S. K., & Sousa, R. M. (2012). Real effects of monetary policy in large emerging economies. Macroeconomic Dynamics, 16(SUPPL. 2), 190–212. DOI

Peltonen, T. A., Sousa, R. M., & Vansteenkiste, I. S. (2012). Investment in emerging market economies. Empirical Economics, 43(1), 97–119. DOI

Peltonen, T. A., Sousa, R. M., & Vansteenkiste, I. S. (2012). Wealth effects in emerging market economies. International Review of Economics and Finance, 24, 155–166. DOI

Sousa, R. M. (2012). Time-varying expected returns: Evidence from the united states and the United Kingdom. Applied Economics Letters, 19(5), 413–416. DOI

Sousa, R. M. (2012). Wealth-to-income ratio and stock returns: Evidence from the Euro Area. Applied Economics Letters, 19(7), 619–622. DOI

Sousa, R. M. (2012). Wealth-to-income ratio, government bond yields and financial stress in the Euro Area. Applied Economics Letters, 19(11), 1822/14869. DOI

Afonso, A., & Sousa, R. M. (2011). Assessing long-term fiscal developments: Evidence from Portugal. Applied Economics Letters, 18(1), 1–5. DOI

Afonso, A., & Sousa, R. M. (2011). Consumption, wealth, stock and government bond returns: International evidence. Manchester School, 79(6), 1294–1232. DOI

Afonso, A., & Sousa, R. M. (2011). The macroeconomic effects of fiscal policy in Portugal: A Bayesian SVAR analysis. Portuguese Economic Journal, 10(1), 61–82. DOI

Afonso, A., & Sousa, R. M. (2011). What are the effects of fiscal policy on asset markets? Economic Modelling, 28(4), 1871–1890. DOI

Afonso, A., Agnello, L., Furceri, D., & Sousa, R. M. (2011). Assessing long-term fiscal developments: A new approach. Journal of International Money and Finance, 30(1), 130–146. DOI

Afonso, A., Claeys, P., & Sousa, R. M. (2011). Fiscal regime shifts in Portugal. Portuguese Economic Journal, 10(2), 83–108. DOI

Agnello, L., & Sousa, R. (2011). Can fiscal policy stimulus boost economic recovery? Revue Economique, 62(6), 1045–1066. DOI

Furceri, D., & Sousa, R. M. (2011). Does government spending crowd-out private consumption and investment? Theory and some empirical evidence. World Economics, 12(3), 1–16. DOI

Furceri, D., & Sousa, R. M. (2011). The Impact of Government Spending on the Private Sector: Crowding-out versus Crowding-in Effects. Kyklos, 64(4), 516–533. DOI

Sousa, R. M. (2011). Building proxies that capture timevariation in expected returns using a VAR approach. Applied Financial Economics, 21(3), 147–163. DOI

Sousa, R. M. (2010). Collateralizable wealth, asset returns, and systemic risk: International evidence. International Symposia in Economic Theory and Econometrics, 20, 1–27. DOI

Sousa, R. M. (2010). Consumption, (dis)aggregate wealth, and asset returns. Journal of Empirical Finance, 17(4), 606–622. DOI

Sousa, R. M. (2010). Housing wealth, financial wealth, money demand and policy rule: Evidence from the euro area. North American Journal of Economics and Finance, 21(1), 88–105. DOI

Sousa, R. M. (2010). How do consumption and asset returns react to wealth shocks: evidence from the U.S. and the U.K. Empirical Economics Letters, 9(5), 515–522. DOI

Sousa, R. M. (2010). The consumption-wealth ratio and asset returns: The Euro Area, the UK and the US. Journal of Money, Investment and Banking, 16, 12–29. DOI

Sousa, R. M. (2010). Wealth effects on consumption: evidence from the euro area. Banks and Bank Systems, 5(2), 70–78. DOI

Sousa, R. M. (2008). Financial wealth, housing wealth, and consumption. International Research Journal of Finance and Economics, 19, 167–191. DOI

Sousa, R. (2003). Dinâmica demográfica do Norte de Portugal e da Galiza: uma perspectiva comparada. Eixo Atlântico, 142(29), 29–29. DOI

Cardoso, A. R., Sousa, R., Castro, V., & Ferreira, P. (2000). Perfil do trabalhador e da empresa de baixos salários em Portugal. Economia, 24(Jan.-Maio-Out.), 53–66. DOI

Cabral, D., & Sousa, R. (1999). Dynamics of development of the municipalities of Cávado’s Valley: a reflection from employment indicators. Cadernos De Estudos Municipais, 243–253. DOI

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Economia Portuguesa e Europeia

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Macroeconomia II

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