Journal Articles
  • ​Kang, W., Perez de Gracia, F., Ratti, R.A., Stock Market Volatility, Risk Aversion and Commodity Prices, forthcoming, Macroeconomic Dynamics.
  • Kang, W., Perez de Gracia, F., Ratti, R.A., 2021, Do Gasoline Prices Respond to Non-US and US Oil Supply Shocks?, Applied Economics, 53 (56), 6488-6496.
  • Kang, W., Perez de Gracia, F., Ratti, R.A., 2021, Economic Uncertainty, Oil Prices and U.S. Stock Returns of the Airline Industry, North American Journal of Economics and Finance 57, (c).
  • ​Kang, W., Ratti, R.A., Vespignani, J., 2021, Financial and Non-Financial Global Stock Market Volatility Shocks, Economic Modelling 96, 128-134.
  • Kang, W., Ratti, R.A., Vespignani, J., 2020, Impact of Global Uncertainty on the Global Economy and Large Developed and Developing Economies, Applied Economics 52, 2392-2407.
  • Ratti, R.A., Vespignani, J., 2019, What drives the global official/policy interest rate?, Applied Economics 51, 5185-5190.
  • ​Kang, W., Perez de Gracia, F., Ratti, R.A., 2019, The Asymmetric Response of Gasoline Prices to Oil Price Shocks and Policy Uncertainty, Energy Economics 77, 66-79 .
  • Ewing, B., Kang, W., Ratti, R.A., 2018, The Dynamic Effects of Oil Supply Shocks on the US Stock Market Returns of Upstream Oil and Gas Companies, Energy Economics 72, 505-516.
  • ​Kang, W., Ratti, R.A., Vespignani, J., 2017, Oil Price Shocks and Policy Uncertainty: New Evidence on the Effects of US and non-US Oil Production, Energy Economics 66, 536-546.
  • Kang, W., Perez de Gracia, F., Ratti, R.A., 2017, Oil Price Shocks, Policy Uncertainty, and Stock Returns of Oil and Gas Corporations, Journal of International Money and Finance 70, 344–359.
  • Ratti, R.A., Vespignani, J.L., 2016, Oil Prices and Global Factor Macroeconomic Variables, Energy Economics 59, 198-212. 
  • Kang, W., Ratti, R.A., Vespignani, J., 2016, The Impact of Oil Price Shocks on the U.S. Stock Market:  A Note on the Roles of U.S. and non-U.S. Oil Production, Economics Letters 145, 176-181.​
  • Kang, W., Ratti, R.A., Vespignani, J., 2016,The implications of monetary expansion in China for the US dollar, Journal of Asian Economics 46, 71-84.
  • Valadkhani, A., Costello, G., Ratti, R.A. 2016, House Price Cycles in Australia’s Four Largest Capital Cities, Economic Analysis and Policy 52, 11-22. 
  • Kang, W., Ratti, R.A., Vespignani, J., 2016, Chinese liquidity increases and the U.S. economy, Economic Modelling 52, 764-771.
  • Vespignani, J., Ratti, R.A., 2016, Not all international monetary shocks are alike for the Japanese economy, Economic Modelling 52, 822-837.
  • Kang, W., Ratti, R.A., Yoon, K.H., 2015, Time-Varying Effect of Oil Market Shocks on the Stock Market, Journal of Banking and Finance 61, S150-S163.
  • Kang, W., Ratti, R.A., 2015, Oil shocks and China’s Policy Uncertainty and Stock Returns, Economics of Transition 23, 657-676. 
  • Ratti, R.A., Vespignani, J., 2015, OPEC and non-OPEC oil production and the global economy, Energy Economics 50, 364-378.
  • Ratti, R.A., Vespignani, J., 2015, Commodity Prices and BRIC and G3 Liquidity: A SFAVEC Approach, Journal of Banking and Finance 53, 18-33
  • Kang, W., Ratti, R.A., Yoon, K.H., 2015, The Impact of Oil Price Shocks on the Stock Market Return and Volatility Relationship. Journal of International Financial Markets, Institutions & Money 34, 41-54.
  • Kang, W., Ratti, R.A., Yoon, K.H., 2014, The Impact of Oil Price Shocks on U.S. Bond Market Returns, Energy Economics 44, 248-258.
  • Mishra, A., Ratti, R.A., 2014, Taxation of Domestic Dividend Income and Foreign Investment Holdings, International Review of Economics and Finance 31, 218-231.
  • Kang, W., Lee, K., Ratti, R.A., 2014, Economic Policy Uncertainty and Firm-Level Investment, Journal of Macroeconomics 39, 42-53.
  • Kang, W., Ratti, R.A., 2013, Oil Price Shocks, Policy Uncertainty and Stock Market Return, Journal of International Financial Markets, Institutions & Money 26, 305-318. 
  • Ratti, R.A., Vespignani, J., 2013, Why are crude oil prices high when global activity is weak? Economics Letters 121, 133–136. 
  • Kang, W., Ratti, R.A., 2013, Structural Oil Price Shocks and Policy Uncertainty, Economic Modelling 35, 314-319. 
  • Ratti, R.A., Vespignani, J., 2013, Crude Oil Prices and Liquidity, the BRIC and G3 countries, Energy Economics 39, 28-38. 
  • Ratti, R.A., Vespignani, J., 2013, Liquidity and Crude Oil Prices: China’s Influence Over 1997-2011, Economic Modelling 33, 517-525. 
  • Ratti, R.A., Hasan, Z., 2013, Oil Price Shocks and Volatility in Australian Stock Returns, Economic Record 89, 67–83.
  • Mishra, A., Ratti, R.A., 2013, Home Bias and Cross Border Taxation, Journal of International Money and Finance 33, 169-193.
  • Lee, K., Kang, W., Ratti, R.A., 2011, Oil Price Shocks, Firm Uncertainty and Investment, Macroeconomic Dynamics 15, 416-436. 
  • Ratti, R.A., Seol, Y., Yoon, K., 2011, Relative Energy Price and Investment by European Firms, Energy Economics 33, 721-731. 
  • Mishra, A., Ratti, R.A., 2011, Governance, Monitoring and Foreign Investment in Chinese Companies, Emerging Markets Review 12, 171-188. 
  • Yoon, K., Ratti, R.A., 2011, Energy Price Uncertainty, Energy Intensity and Firm Investment, Energy Economics 33, 67-78. 
  • Ni, S., Ratti, R.A., 2009, Heterogeneous Parameter Uncertainty and the Timing of Investment during Crisis, Economics, The Open-Access, Open-Assessment E-Journal, Vol.3-41. http://www.economics-ejournal.org/economics/journalarticles/2009-41. 
  • Miller, I., Ratti, R.A., 2009, Crude Oil and Stock Markets: Stability, Instability, and Bubbles, Energy Economics 31, 559-568. 
  • Ratti, R.A., Lee, S., Seol, Y., 2008, Bank Concentration and Financial Constraints on Firm-level Investment in Europe, Journal of Banking and Finance 32, 2684-2694. 
  • Park, J.W., Ratti, R.A., 2008, Oil Price Shocks and Stock Markets in the U.S. and 13 European Countries, Energy Economics 30, 2587-2608. 
  • Bae, S.K., Ratti, R.A., 2008, Conservative Central Banks and Nominal Growth, Exchange Rate, and Inflation Targets, Economica 75, 549-568. 
  • An, J., Bae, S.K., Ratti, R.A., 2007, Political Influence and the Banking Sector: Evidence from Korea, Oxford Bulletin of Economics and Statistics 69, 75-98. 
  • Kim, J., Ratti, R.A., 2006, Economic Activity, Foreign Exchange Rate, and the Interest Rate During the Asian Crisis, Journal of Policy Modeling 28, 387-402. 
  • Kim, Y., Park, K., Ratti, R.A., Shin, H., 2004, Do Main Banks Extract Rents from their Client Firms? Evidence from Korean Chaebol, Hitotsubashi Journal of Economics 45, 15-45. 
  • Kang, S., Park, K., Ratti, R.A., 2004, Alternative indicators to predict the probability of declining inflation, Cambridge Journal of Economics 28, 37-57. 
  • Telatar, E., Telatar, F., Ratti, R.A., 2003, On the Predictive Power of the Term Structure of Interest Rates for Future Inflation in the Presence of Political Instability, Journal of Policy Modeling 25, 931-946. 
  • Ratti, R.A., Seo, J., 2003, Multiple Equilibria and Currency Crisis: Evidence for Korea, Journal of International Money and Finance 22, 681-696. 
  • Ratti, R.A., 2002, On Optimal Contracts for Central Bankers and Inflation and Exchange Rate Targeting Regimes, Journal of Money, Credit and Banking 34, 678-685. 
  • Lee, B., Lee, K., Ratti, R.A., 2001, Monetary Policy, Oil Price Shocks, and the Japanese Economy, Japan and the World Economy 13, 321-349. 
  • Bae, S., Ratti, R.A., 2000, Long-Run Neutrality, High Inflation, and Bank Insolvencies in Argentina and Brazil, Journal of Monetary Economics 46, 581-604. 
  • Choi, J., Ratti, R.A., 2000, The Predictive Power of Alternative Indicators of Monetary Policy, Journal of Macroeconomics 22, 581-610. 
  • Park, K., Ratti, R.A., 2000, Real Activity, Inflation, Stock Returns, and Monetary Policy, The Financial Review 35, 59-78. 
  • Chu, J., Ratti, R.A., 1999, On the Relevance of Distinctions Between Anticipated, Unanticipated Expansionary, and Unanticipated Contractionary Monetary Policy, Journal of Economics and Business 50, 109-132. 
  • Kim, J., Ni, S., Ratti, R.A., 1998, Monetary Policy and Asymmetric Response in Default Risk, Economics Letters 60, 83-90. 
  • Park,J., Ratti, R.A., 1998, Stationary Data and the Effect of the Minimum Wage on Teenage Employment, Applied Economics 30, 435-440. 
  • Chu, J., Ratti, R.A., 1997, Effects of Unanticipated Monetary Policy on Aggregate Japanese Output: The Role of Positive and Negative Shocks, Canadian Journal of Economics 30, 722-741. 
  • Ratti, R.A., 1997, Central Bank Independence and Inflation and Output Variability: The Role of an Exchange Rate Goal, Korea Institute of Finance, Financial Economic Series 97, 1-27.
  • Ratti, R.A., 1997, On the Stabilizing Properties of a Nominal GNP Rule: Comment on Frankel and Chinn, Journal of Money, Credit, and Banking 29, 263-269. 
  • Lee, K., Ratti, R.A., 1996, On Asymmetric Costs of Disequilibrium and Forecasting Money Demand, Journal of Macroeconomics 18, 271-288. 
  • Lee, K., Ni, S., Ratti, R.A., 1995, Oil and the Macroeconomy: The Role of Price Variability, The Energy Journal 16, 39-56. 
  • Ratti, R.A., Jeong, B., 1994, Variation in the Real Exchange Rate as a Source of Currency Substitution, Journal of International Money and Finance 13, 537-50. 
  • Lee, K., Ratti, R.A., 1993, On Seigniorage, Operating Rules and Dual Equilibria, Quarterly Journal of Economics 108, 543-550. 
  • Ratti, R.A., 1991, Involuntary Part-Time Employment: Cyclical Behavior and Trend Over 1968-87, Economics Letters 35, 461-464. 
  • Maloney, T., Ratti, R.A., 1988, Divergent Trends In The Discouragement of Adult Men, Adult Women, and Teenagers: 1970-1986, Economics Letters 28, 93-96. 
  • Ratti, R.A., 1985, A Descriptive Analysis of Economic Indicators, Federal Reserve Bank of St. Louis Review 67, 14-24. 
  • Abstracted and reprinted by the Institute of Chartered Financial Analysts in The CFA Digest 15-4, Fall 1985. Reprinted as Chapter 3 in Readings and Cases in Macroeconomics, Ben Bernanke (Editor), McGraw-Hill, 1987.
  • Ratti, R.A., 1985, Sectoral Employment Variability and Unexpected Inflation, The Review of Economics and Statistics 67, 278-283. 
  • Bloom, S., Ratti, R.A., 1985, The Contribution of Food and Energy Price Shocks to Relative Price Variability, Economics Letters 18, 49-52. 
  • Ratti, R.A., 1985, The Effects of Inflation Surprises and Uncertainty on Real Wages, The Review of Economics and Statistics 67, 309-314. 
  • Park, J., Ratti, R.A., 1984, Second Moments of Consumption Components and Unexpected Inflation, Economics Letters 15, 87-90. 
  • Ratti, R.A., 1980, Bank Attitude Toward Risk, Implicit Rates of Interest, and the Behavior of an Index of Risk Aversion for Commercial Banks, Quarterly Journal of Economics 95-2, 309-331. 
  • Ratti, R.A., Shome, P. 1980, Generalized Tax Incidence Results Using the Harberger Model with Three Factors, Economics Letters 6, 273-277. 
  • Ratti, R.A., 1979, Pledging Requirements and Bank Asset Portfolios in the Tenth District, Economic Review, Federal Reserve Bank of Kansas City, 13-23. 
           Reprinted in Bank Management: Concepts and Issues, John R. Brick (Editor), Robert F. Dame, Inc., 1980.
  • Ratti, R.A., 1979, Stochastic Reserve Losses and Bank Credit Expansion, Journal of Monetary Economics 5, 283-294. 
  • Ratti, R.A., 1978, Uncertainty in Production and the Competitive Firm: Reply, Southern Economic Journal 44, 675-679. 
  • Ratti, R.A., Shome, P., 1977, On a General Equilibrium Model of the Incidence of the Corporation Income Tax Under Uncertainty, Journal of Public Economics 8, 233-238. 
  • Ratti, R.A.,"On the Separability of the Incidence and Efficiency Effects of the Corporation Income Tax", (with P. Shome), Public Finance 32, 1977, 348-353. 
  • Ratti, R.A., Shome, P., 1977, The Incidence of the Corporation Income Tax: A Long-run Specific Factor Model, Southern Economic Journal 44, 85-98. 
  • Ratti, R.A., Shome, P., 1977, The General Equilibrium Theory of Tax Incidence Under Uncertainty, Journal of Economic Theory 14, 68-83. 
  • Ratti, R.A., Ullah, A., 1976, Uncertainty in Production and the competitive Firm, Southern Economic Journal 42, 703-710. 

Selected conference and other papers

  • Ratti, R. and Vespignani, J. (2014), ‘Commodity Prices and BRIC and G3 Liquidity: A SFAVEC Approach’, Centre for Financial Risk, School of Business and Economics, Macquarie University, August 29.
  • Ratti, R. and Vespignani, J. (2014), ‘Oil prices and the economy: A global perspective’, 20th International Conference Computing in Economics and Finance, June 22-24, Oslo, Norway. 
  • Ratti, R. and Vespignani, J. (2014), ‘Commodity Prices and BRIC and G3 Liquidity: A SFAVEC Approach’, Centre for Financial Econometrics, Deakin University, May 2.
  • Ratti, R. and Vespignani, J. (2013), ‘Not all international monetary shocks are alike for the Japanese economy’, University of Tasmania, September 13.
  • Ratti, R. and Hasan, M. (2012), 'Oil price shocks and volatility in Australian stock returns', Global Accounting, Finance & Economics Conference, Melbourne.
  • Ratti, R., Lee K. and Kang, W. (2011), ‘Oil Price Shocks, Firm Uncertainty and Investment’, University of Cardiff Business School, U.K., October 7.
  • Ratti, R. and Yoon, K. (2010), ‘Energy Price Uncertainty, Energy Intensity and Firm-Level Investment’, Bank of Korea, Seoul, March 19.
  • Mishra, A. and Ratti, R. (2010), 'Home Bias And Cross Border Taxation', Australian Conference Of Economists, Sydney, NSW.
  • Ratti, R., Yoon, K. and Seol, Y. (2010), 'Relative energy price and investment by European firms', 2010 Oxford Business & Economics Conference, Oxford University, UK.
  • Lee, K., Kang, W. and Ratti, R. (2010), 'Oil Price Shocks, Firm Uncertainty and Investment', 39th Australian Conference of Economists, Sydney.
  • Ratti, R. and Yoon, K. (2009), 'Energy Price Uncertainty, Energy Intensity and Firm-Level Investment', 4th Annual International Symposium on Economic Theory, Policy and Applications, Athens, Greece.
  • Ratti, R. and Yoon, K. (2008) 'Energy Price Uncertainty, Energy Intensity and Firm-Level Investment', Time-Varying Correlation and Volatility Symposium 2008 at Australian School of Business, University of New South Wales, November 28.
  • Ratti R., Lee, S. and Seol, Y. (2007) ‘Bank Concentration and Financial Constraints on Firm-level Investment in Europe’, National Tsing Hua University, Hsinchu, Taiwan, October 2.
  • Park, J. and Ratti R. (2007) ‘Oil Price Shocks and Stock Markets in the U.S. and 13 European Countries’, National Chung Cheng University, Chia-Yi, Taiwan, October 1.