Professor Ronald Ratti

Professor Ronald Ratti

PROFESSOR,
Economics & Finance (SoBus)

Biography

Ron Ratti specializes in macro finance, energy economics and money and banking. He has published many papers in A* and A journals on Australian Business Deans Council (ABDC) list including papers in top journals such as Quarterly Journal of Economics, Review of Economics and Statistics, Journal of Economic Theory, Journal of Monetary Economics, Journal of Public Economics, Journal of International Money and Finance, Journal of Money, Credit and Banking and Journal of Banking and Finance. His work has a large and growing number of citations with over 50 new citations per year. Ron Ratti received his PhD from Southern Methodist University and his BA from the University of Lancaster in England. Ron served as Professor at the University of Missouri, Columbia. He has been a visiting scholar at the Federal Reserve Bank of St. Louis, the Federal Reserve Bank of Kansas City and the Korea Institute Finance, Seoul, Academic Visitor at the London School of Economics, and as a Fulbright Professor at Korea University, Seoul, Korea. He has directed over 50 doctoral dissertations for students. Former students work at a number of universities and international institutions including the International Monetary Fund, the World Bank, the Organization for Economic Co-operation and Development, and the U.S. Treasury Department. Examples of recent work include the following: A 2011 paper in Macroeconomic Dynamics finds that oil price shocks depress firms’ investment decisions, and do so differentially by depressing investment more for more uncertain firms. In the short term, mere existence of a shock drives most of the effect. In the long term, intensiveness of the oil shock is also important; A paper in Energy Economics in 2008 showing that oil price shocks have a statistically significant impact on real stock returns contemporaneously and/or within the following month in the U.S. and 13 European countries; A paper in Energy Economics in 2009 finds support for a conjecture of change in the relationship between real oil price and real stock prices in the last decade compared to earlier years, which may suggest the presence of several stock market bubbles and/or oil price bubbles since the turn of the century. A paper in Journal of Banking and Finance in 2008 on the effect of bank concentration on financing constraints of non-financial firms reports results consistent with an information-based hypothesis that more market power increases banks’ incentives to produce information on potential borrowers.

This information has been contributed by Professor Ratti.

Qualifications

  • PhD Southern Methodist University
  • BA University of Lancaster

UWS Organisational Unit (School / Division)

  • Economics & Finance (SoBus)

Contact

Email: R.Ratti@uws.edu.au
Phone: (02) 9685 9346
Mobile:
Location: ED.G.153
Parramatta
Website:

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Publications

Journal Articles

  • Kang, W., Lee, K. and Ratti, R. (2014), 'Economic policy uncertainty and firm-level investment', Journal of Macroeconomics, vol 39 , pp 42 - 53.
  • Mishra, A. and Ratti, R. (2013), 'Home bias and cross border taxation', Journal of International Money and Finance, vol 32 , pp 169 - 193.
  • Ratti, R. and Vespignani, J. (2013), 'Crude oil prices and liquidity, the BRIC and G3 countries', Energy Economics, vol 39 , pp 28 - 38.
  • Ratti, R. and Hasan, M. (2013), 'Oil price shocks and volatility in Australian stock returns', Economic Record, vol 89, no Suppl. 1 , pp 67 - 83.
  • Ratti, R. and Vespignani, J. (2013), 'Liquidity and crude oil prices : China's influence over 1996-2011', Economic Modelling, vol 33 , pp 517 - 525.
  • Kang, W. and Ratti, R. (2013), 'Oil shocks, policy uncertainty and stock market return', Journal of International Financial Markets, Institutions and Money, vol 26 , pp 305 - 318.
  • Kang, W. and Ratti, R. (2013), 'Structural oil price shocks and policy uncertainty', Economic Modelling, vol 35 , pp 314 - 319.
  • Ratti, R. and Vespignani, J. (2013), 'Why are crude oil prices high when global activity is weak?', Economics Letters, vol 121, no 1 , pp 133 - 136.
  • Yoon, K. and Ratti, R. (2011), 'Energy price uncertainty, energy intensity and firm investment', Energy Economics, vol 33, no 1 , pp 67 - 78.
  • Mishra, A. and Ratti, R. (2011), 'Governance, monitoring and foreign investment in Chinese companies', Emerging Markets Review, vol 12, no 2 , pp 171 - 188.
  • Ratti, R., Seol, Y. and Yoon, K. (2011), 'Relative energy price and investment by European firms', Energy Economics, vol 33, no 5 , pp 721 - 731.
  • Lee, K., Kang, W. and Ratti, R. (2011), 'Oil Price Shocks, Firm Uncertainty, And Investment', Macroeconomic Dynamics, vol 15, no S3 , pp 416 - 436.
  • Lee, K., Kang, W. and Ratti, R. (2011), 'Oil Price Shocks, Firm Uncertainty, And Investment', Macroeconomic Dynamics, vol 15, no S3 , pp 416 - 436.
  • Ni, S. and Ratti, R. (2009), 'Heterogeneous Parameter Uncertainty and the Timing of Investment during Crisis', Economics: The Open-Access, Open-Assessment E-Journal, vol 3, no 41 , pp 1 - 29.
  • Millar, J. and Ratti, R. (2009), 'Crude oil and stock markets: Stability, instability, and bubbles', Energy Economics, vol 31, no 4 , pp 559 - 568.
  • Ratti, R. and Park, J. (2008), 'Oil Price Shocks and Stock Markets in the U.S. and 13 European Countries', Energy Economics, vol 30, no 5 , pp 2587 - 2608.
  • Ratti, R. and Bae, S. (2008), 'Conservative Central Banks and Nominal Growth, Exchange Rate, and Inflation Targets', Economica, vol 75, no 299 , pp 549 - 568.
  • Ratti, R., Lee, S. and Seol, Y. (2008), 'Bank Concentration and Financial Constraints on Firm-level Investment in Europe', Journal of Banking and Finance, vol 32, no 12 , pp 2684 - 2694.
  • An, J., Bae, S. and Ratti, R. (2007), 'Political Influence and the Banking Sector: Evidence from Korea', Oxford Bulletin of Economics and Statistics, vol 69, no 1 , pp 75 - 98.
  • Kim, J. and Ratti, R. (2006), 'Economic Activity, Foreign Exchange Rate, and the Interest Rate During the Asian Crisis', Journal of Policy Modeling, vol 28, no 4 , pp 387 - 402.
  • Kang, S., Park, K. and Ratti, R. (2004), 'Alternative indicators to predict the probability of declining inflation', Cambridge Journal of Economics, vol 28, no 1 , pp 37 - 57.
  • Kim, K., Park, K., Ratti, R. and Shin, H. (2004), 'Do main banks extract rents from their client firms? Evidence from Korean chaebol', Hitotsubashi Journal of Economics, vol 45, no 1 , pp 15 - 45.
  • Telatar, E., Telatar, F. and Ratti, R. (2003), 'On the Predictive Power of the Term Structure of Interest Rates for Future Inflation in the Presence of Political Instability: the Turkish Economy', Journal of Policy Modeling, vol 25, no 9 , pp 931 - 946.
  • Ratti, R. and Seo, J. (2003), 'Multiple Equilibria and Currency Crisis: Evidence for Korea', Journal of International Money and Finance, vol 22, no 5 , pp 681 - 696.
  • Ratti, R. (2002), 'On Optimal Contracts for Central Bankers and Inflation and Exchange Rate Targeting Regimes', Journal of Money, Credit & Banking, vol 34, no 3 , pp 678 - 685.
  • Lee, B., Lee, K. and Ratti, R. (2001), 'Monetary Policy, Oil Price Shocks, and the Japanese Economy', Japan and the World Economy, vol 13, no 3 , pp 321 - 349.

Conference Papers

  • Ratti, R. and Hasan, Z. (2012), 'Oil price shocks and volatility in Australian stock returns', Global Accounting, Finance and Economics Conference, Melbourne, Vic..
  • Ham, R., Ratti, R. and Yoon, K. (2012), 'Oil and carbon prices : asymmetries, instability and spillovers', Australian Conference of Economists, Victoria University.
  • 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.
  • Mishra, A. and Ratti, R. (2009), 'Governance, Monitoring and Foreign Investment in Chinese Companies', Trade and Industry in Asia Pacific:History Trends and Prospects : ARC Asia Pacific Futures Research Network Conference, ANU Canberra.
  • Mishra, A. and Ratti, R. (2009), 'Foreign Investment in Chinese Stock Market, Monitoring and Home Bias', International Finance Conference 2009, IIM Calcutta, India.
  • Ratti, R. and Yoon, K. (2009), 'Energy Price Uncertainty, Energy Intensity and Firm-Level Investment', Asian Finance Association International Conference 2009, Brisbane, Australia.
  • 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.

Supervision

Professor Ratti is available to be a principal supervisor for doctoral projects

Current Supervision

Title: Determinants of Inflation in Bangladesh
Field of Research:
Title: Cross Border Portfolio Investments and Home Bias
Field of Research:
Title: Volatility Spillover Effect and Comparative Study of Emerging versus Mature Markets
Field of Research:
Title: Foreign Investment and Financial Integration in the Middle East
Field of Research:
Title: Macroeconomic Uncertainty and Debt Sustainability in Indonesia
Field of Research:

Previous Supervision

Title: Energy Price Shocks and the Stock Market
Field of Research: BUSINESS AND MANAGEMENT
Thesis: Energy Price Shocks and the Stock Market

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