The University of Western Australia

UWA Staff Profile

Ipsum Lorem

Professor Nicolaas Groenewold

Professor
Economics (UWA Business School)

Contact details
Address
Economics (UWA Business School)
The University of Western Australia (M251)
35 Stirling Highway
CRAWLEY WA 6009
Australia
Phone
+61 8 6488 3345
Email
Nic.Groenewold@uwa.edu.au
Qualifications
BEc MEc Tas., MA PhD W.Ont.
Biography
Nic Groenewold has been part of the Economics Discipline since 1997 before which he was a member of the Economics Department at the University of Tasmania. His main research interests are currently in regional economics, financial economics and the economics of China.
Key research
Macroeconomics
Regional Economics
China
Financial Economics
Publications
Groenewold, N., “Fiscal Policy With Direct Effects”, Economics Letters, 5, 1980, 219-224.
Groenewold, N., “The ‘New Federalism’ and Horizontal Equalisation”, Economic Record, 57, 1981, 282-287.
Groenewold, N., “Fiscal Policy in a Perfect-Foresight Model With Useful Government Expenditure”, Australian Economic Papers, 1982, 49-60.
Groenewold, N., “Short-Run Tax Incidence”, Oxford Economic Papers, 36(1), 1984, 140-61.
Groenewold, N., “The Effects of Fiscal Policy in a Two-Period Model”, Journal of Macroeconomics, 6(1), 1984, 23-41.
Groenewold, N., “The Short-Run Effects of Fiscal Policy With Useful Government Expenditure”, Bulletin of Economic Research, 36(1), 1984, 85-95.
Groenewold, N., A. J. Hagger and J. R. Madden, “The Measurement of Industry Employment Contributions in an Input-Output Model”, Regional Studies, 21(3), 1987, 255-263.
Siegloff, E. S. and N. Groenewold, “Policy Ineffectiveness: Tests With Australian Data”, Australian Economic Papers, December, 1987, 179-187.
Groenewold, N., “Adjustment of the Real Interest Rate to Inflation”, Applied Economics, 21, 1989, 947-956.
Groenewold, N. “Regional Unemployment Disparities and Cyclical Sensitivities: Some Australian Results", Australian Journal of Regional Studies, 6, 1991,15-28.
Groenewold, N., and L. Taylor “Insider Power as a Source of Hysteresis in Unemployment: Tests With Australian Data”, Economic Record, 68, 1992, 57-64.
Ooi Soon Huay and N. Groenewold, “The Causes of Unemployment in Australia, 1966-1987”, Australian Economic Papers, 31, 1992, 77-93.
Groenewold, N. and Kuay Chin Kang, “The Semi-Strong Efficiency of the Australian Share Market”, Economic Record, 69, 1993, 405-410.
Groenewold, N., A. J. Hagger and J. R. Madden, “Measuring Industry Importance: An Australian Application”, Annals of Regional Science, 27(2), 1993, 175-182.
Groenewold, N., “Unemployment in an Equilibrium Model with Bargaining”, Bulletin of Economic Research, 46(3), 1994, 225-239.
Groenewold, N. and A. J. Hagger, “Regional Unemployment Dynamics”, The Australasian Journal of Regional Studies, 1(2), 1995, 197-214.
Groenewold, N. and M. Ariff, “Weak Efficiency of the Indonesian Share Market: Tests with Daily Data, 1983-1992”, Indonesian Journal of Accounting and Business Society, 3, 1995, 92-40.
Groenewold, N., “Does Migration Equalise Regional Unemployment Rates? Evidence from Australia”, Papers in Regional Science, 76(1), 1997, 1-20.
Groenewold, N., “Share-Market Efficiency: Tests Using Daily Data from Australia and New Zealand”, Applied Financial Economics, 7(6), 1997, 645-657.
Groenewold, N., G. O’Rourke and S. Thomas, “Stock Returns and Inflation: A Macro Analysis”, Applied Financial Economics, 7, 1997, 127-136.
Groenewold, N. and P. Fraser, “Share Prices and Macro Factors”, Journal of Business Finance and Accounting, 24, 1997, 1367-1383.
Groenewold, N. and A. J. Hagger, “Competitive Bidding and the States: Winners and Losers”, Australasian Journal of Regional Studies, 3(1), 1997, 35-55.
Groenewold, N. and A. J. Hagger, “The Natural Rate of Unemployment in Australia since the Seventies”, Economic Record, 74(224), March 1998, 24-35.
Groenewold, N.and M. Ariff, “The Effects of De-Regulation on Share Market Efficiency in the Asia-Pacific”, International Economic Journal, 12(4), Winter 1998, 23-47.
Groenewold, N. and A. J. Hagger, “Natural-Rate Estimates as a Policy Tool in Australia”, Economic Papers, 17(3), September 1998, 72-88.
Groenewold, N. and A. J. Hagger, “A ‘Lilien’ Natural Rate Series for Australia: A Reply to McDonald and Debelle and Lowe”, Economic Record, 75(229), June 1999, 173-176.
Groenewold, N., “Employment Protection and Aggregate Unemployment”, Journal of Macroeconomics, 21(3), Summer 1999, 619-630.
Groenewold, N. and P. Fraser, “Time-Varying Estimates of CAPM Betas” Mathematics and Computers in Simulation, 48(4-6), June 1999, 531-539.
Yang, J. Y. Y., N. Groenewold and MJ. Tcha , “The Determinants of Foreign Direct Investment in Australia”, Economic Record, 76(232), March 2000, 45-54 .
Fraser, P. and N. Groenewold, “The Effects of Exchange Rate Shocks on the Volatility of Australian Sector Excess Returns: A Note”, Applied Economics Letters, 7(2), February 2000, 77-82.
Groenewold, N. and A. J. Hagger, “The Natural Rate of Unemployment in Australia: Estimates from a Structural VAR”, Australian Economic Papers, 39(2), June 2000, 121-137
Groenewold, N., and P. Fraser, “Forecasting Beta: How Well Does the ‘Five-Year Rule of Thumb’ Do?”, Journal of Business Finance and Accounting, Vol. 27 (7 and 8), September and October, 2000, pp. 953-982.
Goh, D. and N. Groenewold, “Fundamentals and Speculation in the Thai Baht Crisis”, International Journal of Economics and Finance, Vol. 5(4), October, 2000, pp. 297-308.
Groenewold, N., A. J. Hagger and J. R. Madden, “Competitive Federalism: A Political-Economy General Equilibrium Approach”, Australasian Journal of Regional Science, 6(3), 2000 , 451-465.
Fraser, P. and N. Groenewold, “Mean Variance Efficiency, Aggregate Shocks and Return Horizons”, Manchester School of Economic and Social Research, 96(1), January, 2001, pp. 52-76.
Fraser, P. and N. Groenewold, “The Sensitivity of Tests of Asset Pricing Models to the IID-Normal Assumption: Contemporaneous Evidence from the US and UK stock Markets”, Journal of Business Finance and Accounting, 2001, 28(5&6), June/July, pp.771-798.
Groenewold, N. and P. Fraser, “Tests of Asset-Pricing Models: How Important is the IID-Normal Assumption?”, Journal of Empirical Finance, Vol. 8(4), Sept., 2001, 427-449.
Groenewold, N. and P. Fraser, “Violation of the IID-Normal Assumption: Effects on Tests of Asset-Pricing Models Using Australian Data”, International Review of Financial Analysis, 11(4), 2002, 491-510.
Black, A., P. Fraser and N. Groenewold, “How Big is the Speculative Component in Australian Share Prices?”, Journal of Economics and Business, 55(2), March/April 2003, 177-195.
N. Groenewold and AJ Hagger, “Natural Rate Estimates for the Australian States: An SVAR Approach”, Regional Studies, 37(3), May 2003, 251-263.
A. Black, P. Fraser and N. Groenewold, “US Stock Prices and Macroeconomic Fundamentals”, International Review of Economics and Finance, 12(3), 2003, 345-367.
N. Groenewold, A. J. Hagger and J. R. Madden, “Interregional Transfers: A Political-Economy CGE Approach”, Papers in Regional Science, 82(4), November, 2003, 535-554.
N. Groenewold, “Financial Deregulation and the Relationship between the Economy and the Share Market in Australia”, Australian Economic Papers, 42(4), December 2003, 454-477.
N. Groenewold and A. J. Hagger, “Time to Ditch the Natural Rate?”, Economic Record, vol 79 (246), September 2003, 324-335.
A. Black, P. Fraser and N. Groenewold, “UK Stock Prices Have reached Fundamental Values as Determined by the Macroeconomy”, Journal of Asset Management, 4(1), June 2003, 5-9.
N. Groenewold, “Long-Run Shifts of the Beveridge Curve and the Frictional Unemployment Rate in Australia”, Australian Journal of Labour Economics, 6(1), March 2003, 65-82.
N. Groenewold, S. H. K. Tang and Y. Wu, “The Efficiency of the Chinese Stock Markets and the Role of the Banks”, Journal of Asian Economics, 14(4), 2003, 593-609.
N. Groenewold, S. Tang and Y. Wu, “The Dynamic Relationship Between Stock Returns and Market Turnover: Evidence From Shanghai, Shenzhen and Hong Kong”, Asia-Pacific Journal of Economics and Business, forthcoming 7(1), 2003.
Groenewold, N. and S. H. K. Tang, “The Asian Financial Crisis and the Natural Rate of Unemployment: Estimates from a Structural VAR for the Newly Industrializing Economics of Asia”, Pacific Economic Review, vol 9(1), February, 2004, pp. 45-64.
N. Groenewold, “ Fundamental Share Prices and Aggregate Real Output”, Applied Financial Economics, vol. 14(9), June 1 2004, pp. 651-661.
C. B. Branston and N. Groenewold, “Investment and Share Prices: Fundamental versus Speculative Components”, North-American Journal of Economics and Finance, vol. 15(2), August 2004, pp.199-226.
N. Groenewold and A. J. Hagger ,”Regional Unemployment Disparities: Can Fiscal Policy Help?, Australian Journal of Labour Economics, vol. 7(1), March 2004, pp. 13-37.
N. Groenewold, S. H. K. Tang and Y. Wu, “The Dynamic Interrelationships between the Greater China Share Markets”, China Economic Review, 15, 2004, 45-62.
N. Groenewold, “Autocorrelation and Volume in the Chinese Stock Market”, Review of Pacific Basin Financial Markets and Policies, vol. 7(2), 2004, pp. 289-309.
N. Groenewold and A. J. Hagger, “The Effects of an Inter-Regional Transfer with Empire-Building Regional Governments”, Review of Regional Studies, 35(1), 2005, 38-63.
N. Groenewold, Guoping Lee and Anping Chen, “The Cyclical Behaviour of Regional Growth Rates in China”, Australasian Journal of Regional Studies, vol. 11(1), pp.91-110, 2005.
P. Fraser and N. Groenewold, “US Share Prices and Real Supply and Demand Shocks”, Quarterly Review of Economics and Finance, vol. 46(1), February 2006, pp. 149-167.
C. K. Y. Leung, S. H. K. Tang and N. Groenewold, “Growth Volatility and Technical Progress: A Simple Rent-Seeking Model”, Journal of Economics, 88(2), August, 2006, 159-178.
N. Groenewold, “Does the Shanghai Stock Exchange Generate Excess Returns? Tests Based on the Profitability of Technical Trading Rules”, International Economics and Finance Journal, vol 1(2), 2006, 211-231.
N. Groenewold, Guoping Lee and Anping Chen, “Regional Spillovers in China: Estimates from a VAR Model”, Papers in Regional Science, 86(1), March 2007, 101-122.
N. Groenewold and A.J. Hagger, “The Effects of Fiscal Equalisation in a Model with Endogenous Regional Governments: An Analysis in a Two-Region Numerical Model”, Annals of Regional Science, 41, 353-374, 2007.
N. Groenewold and S. Tang, “Killing the Goose that Lays the Golden Egg: A Time-Series Analysis of Institutional Change and Economic Growth in Hong Kong”, Economic Inquiry, 45(4), Oct 2007, 787-799.
N. Groenewold and Lei He, “The US-China Trade Imbalance: Will Revaluing the RMB Help (Much)?”, Economics Letters, 96, 2007, 127-132.
N. Groenewold, G. Lee and A. Chen, “Inter-Regional Output Spillovers in China: Disentangling National from Regional Shocks”, Australasian Journal of Regional Studies, 13(3), 2007.
N. Groenewold, S. H. K. Tang and Y. Wu, “The Profitability of Regression-Based Trading Rules for the Shanghai Stock Market”, International Review of Financial Analysis, 17, 2008, 411-430.
N. Groenewold, Guoping Lee and Anping Chen, “Inter-Regional Spillovers in China: The Importance of Common Shocks and the Definition of the Regions”, China Economic Review, 19(1), March 2008, 32-52.
S. Tang, N. Groenewold and C. Leung, “The Link between Institutions, Technical Change and Macroeconomic Volatility”, Journal of Macroeconomics, 30, 2008, 1520-1549.
N. Groenewold, J. Peng, G. Li and X. Fan, “Financial Liberalisation or Financial Development? Tests using a Delphi-based Index of Liberalisation for China”, International Journal of Banking and Finance, 6(1), 2008, 95-116.
N. Groenewold and A. J. Hagger, “Regional Unemployment Disparities: An Evaluation of Policy Measures”, Australian Economic Papers, 47(4), 2008, pp.355-375.
N. Groenewold, Anping Chen and Guoping Lee, “Interregional Spillovers of Policy Shocks in China”, Regional Studies, 44(1), February 2010, 87-101.
A. Chen and N. Groenewold, “Reducing Regional Disparities in China: An Evaluation of Alternative Policies”, Journal of Comparative Economics, 38(2), June 2010, 189-198.
J. Peng, N. Groenewold, J. He, Z. Li and Y. Yi, “Regional Finance and Regional Disparities in China”, Australian Economic Papers, 49(4), December 2010, 301-322.
G. Costello, P. Fraser and N. Groenewold, “House Prices, Non-Fundamental Components and Interstate Spillovers: The Australian Experience”, Journal of Banking and Finance, 35, 2011, 653-669.
A. Chen and N. Groenewold, “Regional Equality and National Development in China: Is there a Trade-Off?”, Growth and Change, 42(4), 2011, pp. 628–669.
J. Peng, J, Cui, N. Groenewold and F. Qin, “Stock Prices and the Macro Economy in China”, Asia-Pacific Journal of Economics and Business, 26(1&2), 2012, 1-16.
A. Chen and N. Groenewold, “Does Investment Allocation Affect the Inter-Regional Output Gap in China?”, China Economic Review, vol.26, 2013, 197-206.
A. Chen, N. Groenewold and A. J. Hagger, "The Regional Economic Effects of a Reduction in Carbon Emissions", Australian Journal of Agricultural and Resource Economics, 57(4), Oct 2013, 483-500.
A. Chen and N. Groenewold, “The National and Regional Effects of Fiscal Decentralisation in China”, Annals of Regional Science, 51(3), 2013, 731-760.
N. Groenewold and J. Patterson, “Stock Prices and Exchange Rates in Australia: Are Commodity Prices the Missing Link?”, Australian Economic Papers, 52 (3-4), December 2013, 159-170.
A. Chen and N. Groenewold, “The Regional Economic Effects of a Reduction in Carbon Emissions and an Evaluation of Offsetting Policies in China”, Papers in Regional Science, 93(2), June 2014, 429-453.
J. Peng, N. Groenewold, X. Fan and G. Li "Financial-System Reform and Economic Growth in a Transition Economy: The Case of China, 1978-2004", Emerging Markets, Finance and Trade, 50(2), 2014, 5-22.
A. Chen and N. Groenewold, “Emissions-Reduction Policy: A Regional Analysis for China”, Economic Modelling, 51, Dec 2015, 136-152.
Chen and N. Groenewold, “The Regional Effects of Macroeconomic Shocks in China”, Chine Economic Review, 2015, forthcoming.

Previous positions
Lecturer and Senior Lecturer, Economics Department, University of Tasmania
Senior Lecturer, Economics Department, University of Western Australia
Teaching
Econ3236 International Finance
Research profile
Research profile and publications
 

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Tuesday, 3 November, 2015 2:39 PM