Staff profile

Dr Sandy Suardi

Associate Professor

College of Arts, Social Sciences and Commerce
La Trobe Business School
Department of Economics and Finance

Donald Whitehead, Melbourne (Bundoora)


BEc (Hons)(ANU), MCom (Hons), PhD (Melb)

Area of study


Brief profile


Sandy Suardi is an Associate Professor at the School of Economics. His research focuses on issues at the intersection of economics and finance. His articles have featured in both economics and finance journals such as the Journal of Business Finance and Accounting, Journal of Empirical Finance, Economic Inquiry, International Journal of Forecasting, Journal of Economic Surveys, British Journal of Industrial Relations, Regional Studies, World Development, Energy Economics, and Economics Letters, amongst others; and his research has been cited in a senate inquiry and by academics, practitioners and the media. He completed his PhD in economics at the University of Melbourne in 2005.

With his co-authors, he is currently working on the following research topics:

  1. Neglected structural breaks and nonlinearity: New insights from money demand
  2. The regime-dependent predictive power of changes in output, term spread and stock returns. 
  3. Political connection and market liquidity
  4. Assessing U.S. Fiscal Sustainability
  5. Feathers and Rockets: Oil Price Asymmetric Threshold Dynamics


Research interests

Finance and economic development

- Please contact me to discuss a topic.

Financial econometrics and time series analysis

- Please contact me to discuss a topic.


- Please contact me to discuss a topic.

Teaching units

  • Consumers, Firms and Competition (ECO2CFC)
  • Modeling with Econometrics: Problems and Solutions (ECM3MEC)
  • Economic Growth and Stability : Theory and Evidence (ECO3EGS)


Recent publications

  1. "Factor Reversal in Euro Zone Stock Returns: Evidence from the Crisis Period" (with Hsin-I Chou and Jing Zhao), 2014,Journal of International Financial Markets, Institutions and Money,33,28-55.
  2. “Regional Differences Pose Challenges for Food Security Policy: A Case Study of India” (with Renuka Mahadevan), 2014, Regional Studies, 48, 1319-1336.
  3. "The Cascade Effect on Lending Conditions: Evidence from the Syndicated Loan Market" (with Weishao Wu, Yuanchen Chang and Hsinghua Chang), 2013, Journal of Business Finance and Accounting, 40, 1247-1275.
  4. "Predicting short-term interest rates using Bayesian model averaging: Evidence from weekly and high frequency data" (with Chew Lian Chua and Sarantis Tsiaplias), 2013, International Journal of Forecasting, 29, 442-455.
  5. “An Examination of Linear and Nonlinear Causal Relationships between Commodity Prices and U.S. Inflation” (with Renuka Mahadevan),2013, Economic Inquiry, 51, 1932-1947. 
  6. "Is there a Role for Caste and Religion in Food Security Policy? A Look at Rural India" (with Renuka Mahadevan), 2013, Economic Modelling, 31, 58-69.
  7. "An Impulse-Response Function for a VAR with Multivariate GARCH-in-Mean that Incorporates Direct and Indirect Transmission of Shocks" (with Chew Lian Chua and Sarantis Tsiaplias), 2012, Economics Letters, 117, 452-454.
  8. "Are Foreign Reserves a Good Proxy for Foreign Exchange Interventions?" (with Yuanchen Chang), 2012, Journal of International Financial Markets, Institutions and Money, 22, 678-695.
  9. “Impact of Socioeconomic Factors and Social Affiliation on Living Standards: A Quantile Regression Approach” (with Renuka Mahadevan), 2012, Applied Economics Letters, 19, 1231-1236.
  10. "When the U.S. Sneezes the World Catches Cold: Are Worldwide Stock Markets Stable?", 2012, Applied Financial Economics, 22(23), 1961-1978.
  11. “A Nonparametric Model of Crude Oil Price Return Volatility” (with Aijun Hou), 2012, Energy Economics, 34, 618-626.
  12. "Modeling and Forecasting Short-Term Interest Rate Volatility: A Semiparametric Approach" (with Aijun Hou), 2011, Journal of Empirical Finance, 18(4), 692-710.
  13. "Minimum Wages and Employment: Reconsidering the Use of a Time-Series Approach as an Evaluation Tool" (with Wang Sheng Lee), 2011, British Journal of Industrial Relations, 42(S2), 376-401.
  14. "Are Empirical Measures of Economic Uncertainty Alike?" (with David Kim and Michael Chew Lian Chua), 2011, Journal of Economic Surveys, 25(4), 801-827.
  15. "The Effects of Uncertainty Dynamics on Exports, Imports and Productivity Growth" (with Renuka Mahadevan), 2011, Journal of Asian Economics, 22(2), 174-188.
  16. “The Australian Firearms Buyback and Its Effect on Gun Deaths” (with Wang Sheng Lee), 2010, Contemporary Economic Policy, 28(1), 65-79.
  17. “Non-stationarity, Cointegration and Structural Breaks in the Australian Term Structure of Interest Rates”, 2010, Applied Economics, 42(22), 2865-2879.
  18. “Dynamic Effects of Trade and Output Volatility on the Trade-Growth Nexus: Evidence from Singapore” (with Renuka Mahadevan),2010, Journal of Economic Studies, 37(3), 314-326.
  19. "Macroeconomic Volatility, Trade and Financial Liberalisation in Africa" (with Abdullahi D. Ahmed), 2009, World Development, 37(10), 1623-1636.
  20. “Central Bank Intervention, Threshold Effects and Asymmetric Volatility: Evidence from the Japanese Yen-US Dollar Foreign Exchange Market”, 2008, Economic Modelling, 25(4), 628-642.
  21.  “Are Levels Effects Important for Out-of-Sample Performance of Short Rate Models?”, 2008, Economics Letters, 99(1), 181-184.
  22. "A Dynamic Analysis of the Impact of Uncertainty on Import and/or Export-led Growth: the Experience of Japan and the Asian Tigers” (with Renuka Mahadevan), 2008, Japan and the World Economy, 20(2), 155-174.
  23. “Markov-Switching Mean Reversion in Short-Term Interest Rates: Evidence from East Asian Economies” (with Chew Lian Chua), 2007, Economic Record, 83, 383-397.
  24. “Sources of Economic Growth and Technology Transfer in Sub-Saharan Africa” (with Abdullahi D. Ahmed), 2007, South African Journal of Economics, 75(2), 159-178.
  25. “Testing for Rate-Dependence and Asymmetry in Inflation Uncertainty: Evidence from the G7 Economies” (with Nilss Olekalns and Ólan Henry), 2007, Economics Letters, 94(3), 383-388.



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