Prof Ron Smith

Positions held:

Professor of Applied Economics, Department of Economics, Mathematics & Statistics

Email

Birkbeck: r.smith@bbk.ac.uk

Overview
Overview

Highlights
- Joined Birkbeck in 1976 after teaching at Cambridge. Visiting Professor London Business School, 1992, University of Colorado 1997-8.
Qualifications
- BA, Cambridge, 1968
- PhD, Cambridge, 1974
Research
Research

Research interests
- Applied Econometrics
- Defence Economics
- Political Economy
Research overview

Awarded the 2011 Lewis Fry Richardson lifetime achievement award for contributions to the scientific study of militarised conflict by the European Consortium of Political Research.
Fellow of the International Association for Applied Econometrics.
On the editorial boards of Defence and Peace Economics, Journal of Peace Research, Journal of Conflict Resolution.
Military Economics: the interaction of power and money, Palgrave 2009 was whortlisted for the 2010 Duke of Westminster's Medal for Military Literature.
Co-authors and citations can be found at
https://scholar.google.com/citations?hl=en&user=afmiX70AAAAJ.
Supervision and teaching
Supervision and teaching

Supervision

Supervisions within Birkbeck:

6

I have supervised 55 successful PhD students, but am no longer taking PhD students as primary supervisor.

Doctoral alumni since 2013-14
- CAROLYN MOLESWORTH-ST AUBYN
  
  Nature of supervision:
  Principal Supervisor
  
  Title of thesis:
  Puzzles in Household Finance and Consumption: Theory and Evidence from the PSID
  
  Awarded:
  2022
- ADIYA BELGIBAYEVA
  
  Nature of supervision:
  Principal Supervisor, Oct 2014
  
  Title of thesis:
  The UK Mortgage Market and Credit Conditions: Macro-, Micro- and Policy Perspectives
  
  Awarded:
  2020
- PAUL WOHLFARTH
  
  Nature of supervision:
  Principal Supervisor, Oct 2015
  
  Title of thesis:
  International Channels of Monetary Policy Transmission
  
  Awarded:
  2020
- RICHARD HARRISON
  
  Nature of supervision:
  Principal Supervisor, Oct 2015
  
  Title of thesis:
  Monetary and fiscal policies near the zero lower bound
  
  Awarded:
  2020
- VERONIKA AKHMADIEVA
  
  Nature of supervision:
  Principal Supervisor, Oct 2015
  
  Title of thesis:
  Balance of Payments and Fiscal Sustainability
  
  Awarded:
  2020
- XIAOHONG CHEN
  
  Nature of supervision:
  Principal Supervisor, Apr 2018
  
  Title of thesis:
  Credit Growth in China: Determinants and Consequences
  
  Awarded:
  2020
Teaching

I currently teach econometrics and statistics and have recently also taught forecasting at Birkbeck. I have been employed by various organisations, including the Treasury and Bank of England, to provide in-house econometrics courses. Taught annual 3 day course on Panel Time Series at Cemmap/IFS (2003-12). Other teaching has included that on the MBA at London Business School, PhD program at the University of Colorado, the MA in War Studies at Kings College London, the Royal College of Defence Studies and the UK Military Staff College, JSCSC. Acted as external examiner for a large number of programmes including the MA in Defence Studies at JSCSC and the Masters programmes at LBS.

Teaching modules
- Forecasting Economic and Financial Time Series (BUEM033H7)
- Applied Statistics and Econometrics (EMEC002S6)
- Econometrics (EMEC026S7)
- Perspectives on Political Economy (LALW064S7)
Publications
Publications
Article
- Pesaran, M.H. and Smith, Ron P. (2023) Arbitrage pricing theory, the stochastic discount factor and estimation of risk premia from portfolios. Econometrics and Statistics 26, pp. 17-30. ISSN 2452-3062.
- Smith, Ron P. and Chen, Xiaohong and Wohlfarth, Paul (2021) China's money demand in a Cointegrating Vector Error Correction Model. Journal of Asian Economics 75 (101338), ISSN 1049-0078.
- Anand, P. and Roope, L.S.J. and Culyer, A.J. and Smith, Ron P. (2020) Disability and multidimensional quality of life: a capability approach to health status assessment. Health Economics 29 (7), pp. 748-765. ISSN 1099-1050.
- Smith, Ron P. (2020) Government debt, deficits and interest rates 1870-2016. Advances in Econometrics 43A, pp. 323-340. ISSN 0731-9053.
- Smith, Ron P. (2020) Debt, deficits and defence: the UK experience 1700-2016. Defence and Peace Economics 31 (4), pp. 414-422. ISSN 1024-2694.
- Smith, Ron P. and Dunne, J.P. (2020) Military expenditure, investment and growth. Defence and Peace Economics 31 (6), pp. 601-614. ISSN 1024-2694.
- Smith, Ron P. and Akhmadieva, Veronika (2019) The macroeconomic impact of the euro. Scientific Annals of Economics and Business 66 (SI2), pp. 229-242. ISSN 2501-3165.
- Aksoy, Yunus and Basso, H.S. and Smith, Ron P. and Grasl, Tobias (2019) Demographic structure and macroeconomic trends. American Economic Journal: Macroeconomics 11 (1), pp. 193-222. ISSN 1945-7707.
- Pesaran, M.H. and Smith, Ron P. (2018) A Bayesian analysis of linear regression models with highly collinear regressors. Econometrics and Statistics 11, pp. 1-21. ISSN 2452-3062.
- Smith, Ron P. and Dunne, J.P. (2018) Issues in the quantitative analysis of the SIPRI arms industry database. The Economics of Peace and Security Journal 13 (2), ISSN 1749-852X.
- Pesaran, M.H. and Smith, Ron P. (2017) Tests of policy interventions in DSGE models. Oxford Bulletin of Economics and Statistics 80 (3), pp. 457-484. ISSN 0305-9049.
- Aksoy, Yunus and Basso, H. and Smith, Ron P. (2017) Medium-run implications of changing demographic structures for the macro-economy. National Institute Economic Review 241 (1), pp. R58-R64. ISSN 279501.
- Cavatorta, Elisa and Smith, Ron P. (2017) Factor models in panels with cross-sectional dependence: an application to the extended SIPRI military expenditure data. Defence and Peace Economics 28 (4), pp. 437-456. ISSN 1024-2694.
- Smith, Ron P. (2016) Military expenditure data: theoretical and empirical considerations. Defence and Peace Economics 28 (4), pp. 422-428. ISSN 1024-2694.
- Aksoy, Yunus and Henrique, Basso and Smith, Ron P. (2016) Demografie bremst Wirtschaft. Die Volkswirtschaft 89 (11), pp. 14-19. ISSN 1011-386X.
- Bove, V. and Elia, L. and Smith, Ron P. (2016) On the heterogeneous consequences of civil war. Oxford Economic Papers 69 (3), pp. 550-568. ISSN 0030-7653.
- Garcia-Alonso, M.D.C. and Levine, P. and Smith, Ron P. (2016) Military aid, direct intervention and counterterrorism. European Journal of Political Economy 44, pp. 112-135. ISSN 0176-2680.
- Hashem Pesaran, M. and Smith, Ron P. (2016) Counterfactual analysis in Macroeconometrics: an empirical investigation into the effects of quantitative easing. Research in Economics 70 (2), pp. 262-280. ISSN 1090-9443.
- Anand, P. and Gray, A. and Liberini, F. and Roope, L. and Smith, Ron P. and Thomas, R. (2015) Wellbeing over 50. The Journal of the Economics of Ageing 6, pp. 68-78. ISSN 2212-828X.
- Dees, S. and Pesaran, M.H. and Smith, V. and Smith, Ron P. (2014) Constructing multi-country rational expectations models. Oxford Bulletin of Economics and Statistics 76 (6), pp. 812-840. ISSN 0305-9049.
- Smith, Ron P. (2014) The economic costs of military conflict. Journal of Peace Research 51 (2), pp. 245-256. ISSN 0022-3433.
- Pesaran, M.H. and Smith, Ron P. (2014) Signs of impact effects in time series regression models. Economics Letters 122 (2), pp. 150-153. ISSN 0165-1765.
- Koop, G. and Pesaran, M.H. and Smith, Ron P. (2013) On identification of Bayesian DSGE models. Journal of Business & Economic Statistics 31 (3), pp. 300-314. ISSN 0735-0015.
- Smith, Ron P. (2013) The defense industry in an age of austerity. Economics of Peace and Security Journal 8 (1), pp. 18-22. ISSN 1749-852X.
- Smith, Ron P. and Tasiran, A. (2012) The onset of peace. Economics of Peace and Security Journal 7 (1), pp. 5-14.
- Pesaran, M.H. and Smith, Ron P. (2011) Beyond the DSGE straitjacket. The Manchester School 79, pp. 5-16. ISSN 1463-6786.
- Smith, Ron P. and Tasiran, A. (2010) Random coefficients models of arms imports. Economic Modelling 27 (6), pp. 1522-1528. ISSN 0264-9993.
- Dunne, J.P. and Smith, Ron P. (2010) Military expenditure and Granger causality: a critical review. Defence and Peace Economics 21 (5), pp. 427-441. ISSN 1024-2694.
- Pesaran, M.H. and Smith, Ron P. and Yamagata, T. and Hvozdyk, L. (2009) Pairwise tests of purchasing power parity. Econometric Reviews 28 (6), pp. 495-521. ISSN 0747-4938.
- Dees, S. and Pesaran, M.H. and Smith, L.V. and Smith, Ron P. (2009) Identification of new Keynesian Phillips curves from a global perspective. Journal of Money, Credit and Banking 41 (7), pp. 1481-1502. ISSN 0022-2879.
- Smith, Ron P. (2009) EMU and the Lucas critique. Economic Modelling 26 (4), pp. 744-750. ISSN 0264-9993.
- Smith, Ron P. and Zoega, Gylfi (2009) Keynes, investment, unemployment and expectations. International Review of Applied Economics 23 (4), pp. 427-444. ISSN 0269-2171.
- Smith, Ron P. (2009) Real-financial interactions in macro-finance models. Quantitative and Qualitative Analysis in Social Sciences 3 (1), pp. 1-20. ISSN 1752-8925.
- Zoega, Gylfi and Smith, Ron P. (2009) Keynes, investment, unemployment and the labour market. International Review of Applied Economics 23 (4), pp. 427-444. ISSN 0269-2171.
- Dunne, J.P. and Perlo-Freeman, S. and Smith, Ron P. (2008) The demand for military expenditure in developing countries: hostility versus capability. Defence and Peace Economics 19 (4), pp. 293-302. ISSN 1024-2694.
- Smith, Ron P. and Zoega, Gylfi (2008) Global factors, unemployment adjustment and the natural rate. Economics 22, ISSN 1864-6042.
- Pesaran, M.H. and Smith, L.V. and Smith, Ron P. (2007) What if the UK or Sweden had joined the Euro in 1999? An empirical evaluation using a global VAR. International Journal of Finance and Economics 12 (1), pp. 55-87. ISSN 1076-9307.
- Boyd, Derick and Smith, Ron P. (2007) Institutions and inflation persistence in the Caribbean. Applied Economics Letters 14 (4), pp. 283-286. ISSN 1350-4851.
- Dunne, P. and del Carmen García‐Alonso, M. and Levine, P. and Smith, Ron P. (2007) Determining the defence industrial base. Defence and Peace Economics 18 (3), pp. 199-221. ISSN 1024-2694.
- Smith, Ron P. (2007) Valuing defense. Public Finance and Management 7 (3), pp. 242.
- Smith, Ron P. and Zoega, Gylfi (2007) Global unemployment shocks. Economics Letters 94 (3), pp. 433-438. ISSN 0165-1765.
- Boyd, Derick and Smith, Ron P. (2006) Monetary regimes and inflation in 12 Caribbean economies. Journal of Economic Studies 33 (2), pp. 96-107. ISSN 0144-3585.
- Coakley, J. and Fuertes, Ana-María and Smith, Ron P. (2006) Unobserved heterogeneity in panel time series models. Computational Statistics & Data Analysis 50 (9), pp. 2361-2380. ISSN 0167-9473.
- Dunne, P. and García-Alonso, M. and Levine, P. and Smith, Ron P. (2006) Managing asymmetric conflict. Oxford Economic Papers 58 (2), pp. 183-208. ISSN 0030-7653.
- Pesaran, M.H. and Smith, Ron P. (2006) Macroeconometric modelling with a global perspective. The Manchester School 74 (1), pp. 24-49. ISSN 1463-6786.
- Boyd, B. and Smith, Ron P. (2005) The Marshall-Lerner condition and the J-Curve Effect: balance of payments adjustment in the Caribbean. Caribbean Dialogue 10 (2), pp. 31-46.
- Dunne, J.P. and Nikolaidou, E. and Smith, Ron P. (2005) Is there an arms race between Greece and Turkey?. Peace Economics, Peace Science, and Public Policy 11 (2), pp. 1-37. ISSN 1554-8597.
- Dunne, P. and Smith, Ron P. and Willenbockel, D. (2005) Models of military expenditure and growth: a critical review. Defence and Peace Economics 16 (6), pp. 449-462. ISSN 1024-2694.
- Smith, Ron P. and Anand, P. and Hunter, G. (2005) Capabilities and well-being: evidence based on the Sen–Nussbaum approach to welfare. Social Indicators Research 74 (1), pp. 9-55. ISSN 0303-8300.
- Smith, Ron P. and Tasiran, Ali (2005) The demand for arms imports. Journal of Peace Research 42 (2), pp. 167-182. ISSN 0022-3433.
- Dunne, J.P. and Nikolaidou, E. and Smith, Ron P. (2002) Military spending, investment and economic growth in small industrialising economies. South African Journal of Economics 70 (5), pp. 789-790. ISSN 1813-6982.
- Smith, Ron P. (2002) Comments on 'the state of macroeconomic forecasting'. Journal of Macroeconomics 24 (4), pp. 491-493. ISSN 0164-0704.
- Boyd, D. and Caporale, G. and Smith, Ron P. (2001) Real exchange rate effects on the balance of trade: cointegration and the Marshall–Lerner condition. International Journal of Finance and Economics 6 (3), pp. 187-200. ISSN 1076-9307.
- Chen, Y. and Smith, Ron P. (2001) Equilibrium cost overruns. Annals of Economics and Finance 2 (2), pp. 401-414. ISSN 1529-7373.
- Coakley, Jerry and Fuertes, A.-M. and Smith, Ron P. (2001) Between-group dependence in PPP equations and its causes: a principal components approach. Computing in Economics and Finance 140,
- Coakley, Jerry and Fuertes, A.-M. and Smith, Ron P. (2001) Small sample properties of panel time-series estimators with I(1) errors. Computing in Economics and Finance 191,
- Smith, Ron P. (2001) The international arms industry since the end of the cold war. World Economics 2 (3), pp. 155-166. ISSN 1468-1838.
- Smith, Ron P. and Udis, B. (2001) New challenges to arms export control: whither Wassenaar?. The Nonproliferation Review 8 (2), pp. 81-92. ISSN 1073-6700.
- Levine, P. and Mouzakis, F. and Smith, Ron P. (2000) Arms export controls and emerging domestic producers. Defence and Peace Economics 11 (3), pp. 505-531. ISSN 1024-2694.
- Levine, P. and Smith, Ron P. (2000) The arms trade game: from laissex-faire to a common defence policy. Oxford Economic Papers 52 (2), pp. 357-380. ISSN 0030-7653.
- Smith, Ron P. (2000) Unit roots and all that: the impact of time-series methods on macroeconomics. Journal of Economic Methodology 6 (2), pp. 239-258. ISSN 1350-178X.
- Smith, Ron P. and Dunne, J.P. and Nikolaidou, E. (2000) The econometrics of arms races. Defence and Peace Economics 11 (1), pp. 31-43. ISSN 1024-2694.
- Smith, Ron P. and Levine, P. (2000) Arms export controls and proliferation. Journal of Conflict Resolution 44 (6), pp. 885-895. ISSN 0022-0027.
- Smith, Ron P. and Sola, M. and Spagnolo, F. (2000) The prisoner's dilemma and regime-switching in the Greek-Turkish arms race. Journal of Peace Research 37 (6), pp. 737-750. ISSN 0022-3433.
- Boyd, Derick and Smith, Ron P. (1999) Testing for purchasing power parity: econometric issues and an application to developing countries. The Manchester School 67 (3), pp. 287-303. ISSN 1463-6786.
- Coakley, Jerry and Hasan, F. and Smith, Ron P. (1999) Saving, investment, and capital mobility in LDCs. Review of International Economics 7 (4), pp. 632-640. ISSN 1467-9396.
- Pesaran, M.H. and Shin, Y. and Smith, Ron P. (1999) Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association 94 (466), pp. 621-634. ISSN 0162-1459.
- Coakley, J. and Kulasi, F. and Smith, Ron P. (1998) The Feldstein-Horioka puzzle and capital mobility: a review. International Journal of Finance and Economics 3 (2), pp. 169-188. ISSN 1076-9307.
- Levine, P. and Mouzakis, F. and Smith, Ron P. (1998) Prices and quantities in the arms trade. Defence and Peace Economics 9 (3), pp. 223-236. ISSN 1024-2694.
- Pesaran, M.H. and Lee, K. and Smith, Ron P. (1998) Growth empirics: a panel data approach: a comment. Quarterly Journal of Economics 113 (1), pp. 319-324. ISSN 0033-5533.
- Pesaran, M.H. and Smith, Ron P. (1998) Structural analysis of cointegrating VARS. Journal of Economic Surveys 12 (5), pp. 471-505. ISSN 1467-6419.
- Smith, Ron P. (1998) Emergent policy-making with macroeconometric models. Economic Modelling 15 (3), pp. 429-442. ISSN 0264-9993.
- Smith, Ron P. (1998) Quantitative methods in peace research. Journal of Peace Research 35 (4), pp. 419-427. ISSN 0022-3433.
- Lee, K. and Pesaran, M.H. and Smith, Ron P. (1997) Growth and convergence in a multi-country empirical stochastic solow model. Journal of Applied Econometrics 12 (4), pp. 357-392. ISSN 0883-7252.
- Levine, P. and Smith, Ron P. (1997) The arms trade and the stability of regional arms races. Journal of Economic Dynamics and Control 21 (2-3), pp. 631-654. ISSN 0165-1889.
- Levine, P. and Smith, Ron P. (1997) The arms trade. Economic Policy 12 (25), pp. 336-370. ISSN 0266-4658.
- Szymanski, S. and Smith, Ron P. (1997) The English football industry: profit, performance and industrial structure. International Review of Applied Economics 11 (1), pp. 135-153. ISSN 0269-2171.
- Coakley, J. and Kulasi, F. and Smith, Ron P. (1996) Current account solvency and the Feldstein-Horioka puzzle. The Economic Journal 106 (436), pp. 620-627. ISSN 0013-0133.
- Levine, P. and Smith, Ron P. (1995) The arms trade and arms control. The Economic Journal 105 (429), pp. 471-484. ISSN 0013-0133.
- Pesaran, M.H. and Smith, Ron P. (1995) Estimating long-run relationships from dynamic heterogeneous panels. Journal of Econometrics 68 (1), pp. 79-113. ISSN 0304-4076.
- Pesaran, M.H. and Smith, Ron P. (1995) The role of theory in econometrics. Journal of Econometrics 67 (1), pp. 61-79. ISSN 0304-4076.
- Smith, Ron P. and Szymanski, S. (1995) Executive pay and performance: the empirical importance of the participation constraint. International Journal of the Economics of Business 2 (3), pp. 485-495. ISSN 1357-1516.
- Smith, Ron P. and Dunne, P. (1994) Is military spending a burden? a 'Marxo-marginalist' response to Pivetti. Cambridge Journal of Economics 18 (5), pp. 515-521. ISSN 0309-166X.
- Alogoskoufis, G. and Smith, Ron P. (1991) On error correction models: Specification, interpretation, estimation. Journal of Economic Surveys 5 (1), pp. 97-128. ISSN 1467-6419.
- Alogoskoufis, G. and Smith, Ron P. (1991) The Phillips Curve, the persistence of inflation and the Lucas Critique. American Economic Review 81 (5), pp. 1254-1275. ISSN 0002-8282.
- Barker, T. and Dunne, P. and Smith, Ron P. (1991) Measuring the peace dividend in the United Kingdom. Journal of Peace Research 28 (4), pp. 345-358. ISSN 0022-3433.
- Fontanel, J. and Smith, Ron P. (1991) A European defence union. Economic Policy 6 (13), pp. 393-424. ISSN 0266-4658.
- Ridge, M. and Smith, Ron P. (1991) Military spending dynamics in a changing strategic environment. Fiscal Studies 12 (1), pp. 29-43. ISSN 1475-5890.
- Smith, Ron P. (1991) Spurious structural stability. The Manchester School of Economic & Social Studies 59 (4), pp. 419-423.
- Smith, Ron P. (1990) Defence procurement and industrial structure in the UK.. International Journal of Industrial Organization 8 (2), pp. 185-205. ISSN 0167-7187.
- Smith, Ron P. (1990) The Warwick ESRC macroeconomic modelling bureau: an assessment. International Journal of Forecasting 6 (3), pp. 301-309. ISSN 0169-2070.
- Smith, Ron P. (1989) Models of military expenditure. Journal of Applied Econometrics 4 (4), pp. 345-359. ISSN 0883-7252.
- Smith, Ron P. (1987) The demand for military expenditure: a correction. Economic Journal 97 (388), pp. 989-990. ISSN 0013-0133.
- Pesaran, M.H. and Smith, Ron P. (1985) Evaluation of macroeconometric models. Economic Modelling 2 (2), pp. 125-134. ISSN 0264-9993.
- Pesaran, M.H. and Smith, Ron P. and Yeo, J.S. (1985) Testing for structural stability and predictive failure: a review. The Manchester School of Economic and Social Studies 53 (3), pp. 280-295.
- Smith, Ron P. and Humm, A. and Fontanel, J. (1985) The economics of exporting arm. Journal of Peace Research 22 (3), pp. 239-247. ISSN 0022-3433.
- Smith, Ron P. and Hunter, J. (1985) Cross arbitrage and specification in exchange rate models. Economics Letters 18 (4), pp. 375-376. ISSN 0165-1765.
- Dunne, J.P. and Pashardes, P. and Smith, Ron P. (1984) Needs costs and bureaucracy. Economic Journal 94 (373), pp. 1-15. ISSN 0013-0133.
- Dunne, J.P. and Smith, Ron P. (1984) The economic consequences of reduced UK military expenditure. Cambridge Journal of Economics 8 (3), pp. 297-310. ISSN 0309-166X.
- Deger, S. and Smith, Ron P. (1983) Military expenditure and growth in less developed countries. Journal of Conflict Resolution 27 (2), pp. 335-353. ISSN 0022-0027.
- Dunne, J.P. and Smith, Ron P. (1983) The allocative efficiency of government expenditure: some comparative tests. European Economic Review 20 (1-3), pp. 381-394. ISSN 0014-2921.
- Smith, Ron P. (1980) Military expenditure and investment in OECD countries, 1954–1973. Journal of Comparative Economics 4 (1), pp. 19-32. ISSN 0147-5967.
- Smith, Ron P. (1980) The demand for military expenditure. The Economic Journal 90 (363), pp. 811-820. ISSN 0013-0133.
- Smith, Ron P. (1978) Military expenditure and capitalism: a reply. Cambridge Journal of Economics 2 (3), pp. 299-304. ISSN 0309-166X.
- Smith, Ron P. (1977) Military expenditure and capitalism. Cambridge Journal of Economics 1 (1), pp. 61-76. ISSN 0309-166X.
- Smith, Ron P. (1974) A note on car replacement. Review of Economic Studies 41 (4), pp. 567-570. ISSN 0034-6527.
Book
- Smith, Ron P. (2022) Defence acquisition and procurement: how (not) to buy weapons. Elements in Defence Economics. Cambridge: Cambridge University Press. ISBN 9781009189651.
- Boyd, D. and Smith, Ron P. (2012) Monetary policy, central banking and economic performance in the Caribbean. Kingston, Jamaica: University of West Indies Press. ISBN 9789766402525.
- Smith, Ron P. (2009) Military economics: the interaction of power and money. Basingstoke, UK: Palgrave MacMillan. ISBN 9780230228535.
- Levine, P. and Smith, Ron P., eds. (2003) The arms trade, security and conflict. Routledge. ISBN 9781138811027.
- Smith, Ron P. and Pesaran, M.H. and Akiyama, T. (1998) Energy demand in Asian developing economies. Oxford, UK: The Oxford Institute for Energy Studies. ISBN 9780197300206.
- Gleditsch, N.P. and Bjerkholt, O. and Cappelen, A. and Smith, Ron P. and Dunne, J.P., eds. (1996) The peace dividend. Contributions to Economic Analysis. 235, Emerald Publishing Limited. ISBN 9780444824820.
- Smith, Ron P. and Smith, D. (1987) The economics of militarism. Pluto Press. ISBN 9780861043705.
- Aaronovitch, S. and Smith, Ron P. and Gardiner, J. and Moore, R (1981) The political economy of British capitalism. Mc Graw Hill. ISBN 9780070841215.
- Smith, Ron P. (1976) Consumer demand for cars in the USA. Cambridge, UK: Cambridge University Press. ISBN 9780521099479.
Book Review
- Smith, Ron P. (2004) The economics of exchange rates.
- Smith, Ron P. (1990) 'Security and economy in the third world', by Nicole Ball. (London, Adamantine Press Limited, 1988, pp.432 £32.50).
- Smith, Ron P. (1984) 'Military expansion, economic decline', Robert W. De Grasse, Jr., Armonk, N. Y. and M. E. Sharpe (1983. viii + 248 pp.).
- Smith, Ron P. (1982) 'Recession, the western economies, and the changing world order', Lars Anell (New York: St. Martin's Press, 1981. 181 pp., index. $22.50).
Book Section
- Smith, Ron P. and Bove, Vincenzo (2011) The economics of peacekeeping. In: Braddon, D. and Hartley, K. (eds.) Handbook on the Economics of Conflict. Cheltenham, UK: Edward Elgar Publishing. pp. 237-264. ISBN 9781848446496.
- Anand, P. and Santos, C. and Smith, Ron P. (2009) The measurement of capabilities. In: Basu, K. and Ravi Kanbur, S.M. and Sen, A. (eds.) Arguments For a Better World: Essays in Honour of Amartya Sen. Oxford, Uk: Oxford University Press. pp. 283-310. ISBN 9780199239993.
- Dunne, J.P. and Garcia-Alonso, M. and Levine, P. and Smith, Ron P. (2007) The evolution of the international arms industries. In: Elsner, W. (ed.) Arms, War, and Terrorism in the Global Economy Today: Economic Analyses and Civilian Alternatives. Bremer Schriften zur Konversion. LIT Verlag. pp. 97-120. ISBN 9783825800451.
- Dunne, J.P. and Smith, Ron P. (2007) The econometrics of military arms races. In: Sandler, T. and Hartley, K. (eds.) Handbook of Defense Economics: Defense in a Globalized World. Elsevier. pp. 913-940. ISBN 9780444519108.
- Garcia-Alonso, M. and Smith, Ron P. (2006) The economics of arms exports controls. In: Joyner, D.H. (ed.) Non-Proliferation Export Controls: Origins, Challenges, and Proposals for Strengthening. Routledge. pp. 29-45. ISBN 9781138278158.
- Szymanski, S. and Smith, Ron P. (2006) The English football industry: profit, performance and industrial structure. In: Gerrard, B. (ed.) The Economics of Association Football. Edward Elgar Publishing. ISBN 9781843769415.
- Smith, Ron P. and Udis, B. (2003) Whither Wassenaar?. In: Levine, P. and Smith, Ron P. (eds.) The Arms Trade, Security and Conflict. Taylor and Francis. ISBN 9780429232800.
- Smith, Ron P. (2000) Emergent policy-making with macroeconometric models. In: den Butter, F. and Morgan, M. (eds.) Empirical Models and Policy Making. Routledge. pp. 244-256. ISBN 9780415236058.
- Smith, Ron P. (2000) Unit roots and all that: the impact of time-series methods on macroeconomics. In: Backhouse, R. and Salanti, A. (eds.) Econometric techniques and macroeconomics. Macroeconomics and the Real World. Oxford, UK: Oxford University Press. ISBN 9780199242047.
- Pesaran, M.H. and Smith, Ron P. (1998) Structural analysis of cointegrating VARS. In: McAleer, M. and Oxley, L. (eds.) Practical Issues in Cointegration Analysis. Blackwell. ISBN 9780631211983.
- Smith, Ron P. (1995) The demand for military expenditure. In: Hartley, K. and Sandler, T. (eds.) The Handbook of Defence Economics. Elsevier. pp. 69-87. ISBN 9780444818874.
Conference Item
- Elliott, D. and Campos, L. and Smith, Ron P. (2011) Frontier economics: predicting road travel time. Infraday Conference, 2011, Berlin
- Elliott, D. and Campos, L. and Smith, Ron P. (2011) Predicting road travel time. Infraday Conference, 2011, Berlin, Germany
- Boyd, D. and Smith, Ron P. (2004) An autoregressive test of inflation and economic performance in the Caribbean. 5th IAABD Annual Conference, 2004,
- Boyd, Derick and Smith, Ron P. (2004) Balance of payments adjustment in the Caribbean. 5th Annual SALISES Conference, 2004, University of the West Indies, St. Augustine
- Coakley, Jerry and Fuertes, A.M. and Smith, Ron P. (2002) A principal components approach to cross-section dependence in panels. 10th International Conference on Panel Data, 2002, Berlin, Germany
- Szymanski, S. and Smith, Ron P. (2000) Equality of opportunity and equality of outcome: static and dynamic competitive balance in European and North American sports leagues. International Association of Sports Economists Conference, 2000,
Editorial
- Levine, P. and Sen, S. and Smith, Ron P. (2000) Editorial introduction: arms exports, controls and production. Defence and Peace Economics 11 (3), pp. 443-444. Taylor and Francis. ISSN 1024-2694.
- Fontanel, J. and Smith, Ron P. (1985) L’effort economique de defense: France et royaume-uni. Arès 3, Grenoble: Arès. ISSN 0760-7431.
Letter
- Aksoy, Yunus and Basso, Henrique and Smith, Ron P. and Grasl, Tobias (2015) Demographic structure and the macroeconomy. VOX CEPR's Policy Portal: Research-based policy analysis and commentary from leading economists
Monograph
- Marioni, L. and Rincon-Aznar, A. and Aitken, A. and Kapur, Sandeep and Smith, Ron P. and Beckert, Walter (2022) Estimating food and drink demand elasticities. National Institute of Economics and Social Research.
- Chudik, Alexander and Hashem Pesaran, M. and Smith, Ron P. (2022) Revisiting the Great Ratios Hypothesis. London, UK: Birkbeck Centre for Applied Macroeconomics.
- Hashem Pesaran, M. and Smith, Ron P. (2021) Arbitrage pricing theory, the stochastic discount factor and estimation of risk premia in portfolios. London, UK: Birkbeck Centre for Applied Macroeconomics.
- Smith, Ron P. and Pesaran, M. Hashem (2021) Arbitrage pricing theory, the stochastic discount factor and estimation of risk premia from portfolios. Munich, Germany: Munich Society for the Promotion of Economic Research - CESifo.
- Smith, Ron P. and Pesaran, M. Hashem (2021) Factor strengths, pricing errors, and estimation of risk premia. Munich, Germany: Munich Society for the Promotion of Economic Research - CESifo.
- Smith, Ron P. (2020) Government debt, deficits and interest rates 1870 - 2016. London, UK: Birkbeck Centre for Applied Macroeconomics.
- Smith, Ron P. and Anand, P. and Culyer, A. and Roope, L. (2019) Disability and multi-dimensional quality of life: a capability approach to health status assessment. Bonn, Switzerland: IZA.
- Smith, Ron P. and Pesaran, M.H. (2019) The role of factor strength and pricing errors for estimation and inference in asset pricing models. Munich, Germany: Munich Society for the Promotion of Economic Research - CESifo GmbH.
- Akhmadieva, Veronika and Smith, Ron P. (2019) The macroeconomic impact of The Euro. London, UK: Birkbeck, University of London.
- Hashem Pesaran, M. and Smith, Ron P. (2017) Posterior means and precisions of the coefficients in linear models with Highly Collinear Regressors. London, UK: Birkbeck, University of London.
- Hashem Pesaran, M. and Smith, Ron P. (2017) Tests of policy interventions in DSGE models. London, UK: Birkbeck, University of London.
- Smith, Ron P. and Cavatorta, Elisa (2016) Factor models in panels with cross-sectional dependence: an application to the extended SIPRI military expenditure data. London, UK: Birkbeck College, University of London.
- Aksoy, Yunus and Basso, Henrique and Grasl, Tobias and Smith, Ron P. (2015) Demographic structure and macroeconomic trends. London, UK: Birkbeck College, University of London.
- Bove, Vincenzo and Elia, L. and Smith, Ron P. (2014) The relationship between panel and synthetic control of the effect of civil war. London, UK: Birkbeck, University of London.
- Pesaran, M.H. and Smith, Ron P. (2014) Tests of policy ineffectiveness in macroeconometrics. London, UK: Birkbeck College, University of London.
- Pesaran, M.H. and Smith, Ron P. (2014) Counterfactual analysis in macroeconometrics: an empirical investigation into the effects of quantitative easing. London, UK: Birkbeck College, University of London.
- Smith, Ron P. (2013) The economics of defence in France and the UK. London, UK: Birkbeck College, University of London.
- Aksoy, Yunus and Grasl, Tobias and Smith, Ron P. (2012) The economic impact of demographic structure in OECD countries. London, UK: Birkbeck College, University of London.
- Pesaran, M.H. and Smith, Ron P. (2012) Counterfactual analysis in macroeconometrics: an empirical investigation into the effects of quantitative easing. Munich, Germany: CESifo Group.
- Pesaran, M.H. and Smith, Ron P. (2011) Beyond the DSGE straitjacket. Munich, Germany: CESifo Group.
- Dees, S. and Pesaran, M.H. and Smith, V. and Smith, Ron P. (2010) Supply, demand and monetary policy shocks in a multi-country new Keynesian model. Frankfurt, Germany: European Central Bank.
- Gonzalez, T. and Smith, Ron P. (2009) Drugs and violence in Colombia: a VECM analysis. London, UK: Birkbeck College, University of London.
- Dunne, J.P. and Perlo-Freeman, S. and Smith, Ron P. (2009) Determining military expenditures: arms races and spill-over effects in cross-section and panel data. Bristol, Uk: Bristol Business School, University of the West of England.
- Anand, P. and Santos Pereira, Cristina and Smith, Ron P. (2007) The measurement of capabilities. Open Discussion Papers in Economics (67), Milton Keynes, UK: The Open University. ISSN 1753-2590.
- Smith, Ron P. and Pesaran, M.H. (2007) Monetary policy transmission and the Phillips Curve in a global context. Kiel Institute for the World Economy.
- Smith, Ron P. and Zoega, Gylfi (2007) Global factors, unemployment adjustment and the natural rate. Kiel Institute for the World Economy.
- Hashem Pesaran, M. and Smith, Ron P. and Yamagata, T. and Hvozdyk, L. (2006) Pairwise tests of purchasing power parity using aggregate and disaggregate price measures. 5 (1), pp. 1-18. CESifo.
- Pesaran, M.H. and Smith, Ron P. and Yamagata, T. and Hvozdyk, L. (2006) Pairwise tests of purchasing power parity using aggregate and disaggregate price measures. Cambridge, UK: Cambridge University.
- Smith, Ron P. and Zoega, Gylfi (2006) Global factors, unemployment adjustment and the natural rate. Institute of Economic Studies.
- Smith, Ron P. and Zoega, Gylfi (2005) Unemployment, investment and global expected returns: a panel FAVAR approach. London, UK: Birkbeck, University of London.
- Dunne, P. and del Carmen Garcia-Alonso, M. and Levine, P. and Smith, Ron P. (2005) Military procurement, industry structure and regional conflict. School of Economics, University of Kent.
- Pesaran, M.H. and Smith, L.V. and Smith, Ron P. (2005) What if the UK has joined the Euro in 1999? An empirical evaluation using a global VAR. Cambridge, UK: Cambridge University.
- Pesaran, M.H. and Smith, V. and Smith, Ron P. (2005) What if the UK had joined the Euro in 1999? An empirical evaluation using a global VAR. CESifo.
- Coakley, Jerry and Fuertes, A.-M. and Smith, Ron P. (2004) Unobserved heterogeneity in panel time series models. London, UK: Birkbeck, University of London.
- Smith, Ron P. and Zoega, Gylfi (2004) Global shocks and unemployment adjustment. London, UK: Birkbeck, University of London.
- Smith, Ron P. and Zoega, Gylfi (2004) Global shocks and world adjustment. London, UK: Birkbeck, University of London.
- Dunne, J.P. and Garcia Alonso, M. and Levine, P. and Smith, Ron P. (2003) Concentration in the international arms industry. Bristol, UK: Bristol Business School, University of the West of England, Bristol.
- Pesaran, M.H. and Shin, Y. and Smith, Ron P. (1997) Pooled estimation of long-run relationships in dynamic heterogeneous panels. Faculty of Economics, University of Cambridge.
- Lee, K. and Pesaran, M.H. and Smith, Ron P. (1995) Growth and convergence: a multi-country empirical analysis of the solow growth model. Faculty of Economics, University of Cambridge.
- Pesaran, H. and Smith, Ron P. and Im, K.S. (1995) Dynamic linear models for heterogeneous panels. Faculty of Economics, University of Cambridge.
- Pesaran, M.H. and Smith, Ron P. (1995) New directions in applied macroeconomic modelling. Faculty of Economics, University of Cambridge.
- Hashem, M. and Smith, Ron P. (1993) Alternative approaches to estimating long-run energy demand elasticities: an application to Asian developing countries. Faculty of Economics, University of Cambridge.
- Levine, P.L. and Somnath, S. and Smith, Ron P. (1993) The economics of the international arms trade. Centre for Economic Policy Research.
- Pesaran, M.H. and Smith, Ron P. (1993) The natural rate hypothesis and its testable implications. Faculty of Economics, University of Cambridge.
- Pesaran, M.H. and Smith, Ron P. (1992) Theory and evidence in economics. Faculty of Economics, University of Cambridge.
- Pesaran, M.H. and Smith, Ron P. (1992) The interaction between theory and observation in economics. Faculty of Economics, University of Cambridge.
- Alogoskoufis, G. and Smith, Ron P. (1989) The Phillips Curve and the Lucas Critique: some historical evidence. Centre for Economic Policy Research.
External Repositories
- IDEAS/RePeC
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  I have acted as an econometric advisor to Frontier Economics since its formation in 1999. I have also acted as a consultant to many other bodies including the UK National Audit Office and RAND Europe on defence topics and provided expert witness statements to various bodies.

Prof Ron Smith

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Doctoral alumni since 2013-14

CAROLYN MOLESWORTH-ST AUBYN

ADIYA BELGIBAYEVA

PAUL WOHLFARTH

RICHARD HARRISON

VERONIKA AKHMADIEVA

XIAOHONG CHEN

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