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Economies
Special Issues
Macroeconomics and Financial Markets: From an International Perspective
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Macroeconomics and Financial Markets: From an International Perspective

A special issue of Economies (ISSN 2227-7099). This special issue belongs to the section "Macroeconomics, Monetary Economics, and Financial Markets".

Deadline for manuscript submissions: 31 October 2026 | Viewed by 1338

Special Issue Editor

Dr. Nazif Durmaz

E-Mail Website
Guest Editor
Department of Marketing, Global Business, and Economics, College of Business and Public Management, Kean University, Union, NJ 07083, USA
Interests: international economics and trade; open economy macroeconomics; empirical financial economics; time series econometrics; forecasting
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue focuses on the broad topic of “Macroeconomics and Financial Markets: From an International Perspective” and involves studying aspects of monetary policies in various economies that pertain to credibility and non-neutrality, addressing the regulations in domestic lands after foreign shocks, and studying the dynamics of interdependence of open economies and their strategic relations.

Analyzing economic systems in connection with the rest of the world regarding their macroeconomic spillovers and policy interdependence is important. Articles, empirical or theoretical, open-economy macroeconomics, global finance, and international trade; comprehensive monitoring and analysis of economic trends in industrialized nations; evaluation of diverse international economic policy issues are welcome.

Papers on international macroeconomics, with an emphasis on emerging market economies are encouraged. Studies covering topics such as banking systems and currency crises, financial globalization, regimes of exchange rate, dollarization, and institutions and governance are expected as well.

Dr. Nazif Durmaz
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 250 words) can be sent to the Editorial Office for assessment.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a double-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Economies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • exchange rates
  • commodity prices
  • international spillovers
  • empirical studies of trade
  • international trade and finance
  • monetary policy and inequality
  • globalization

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Further information on MDPI's Special Issue policies can be found here.

Published Papers (2 papers)

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Research

28 pages, 7358 KB  
Article
Determinants of Base Metal Prices: A Study Across Economic, Investment, and Monetary Drivers (2005–2017)
by Javier Petri, Luis Iglesias and Julián Alonso
Economies 2026, 14(5), 163; https://doi.org/10.3390/economies14050163 - 5 May 2026
Viewed by 470
Abstract
Estimating long-term prices for base metals is central to the financial viability of mining investments, yet prices remain highly volatile and difficult to forecast. This study systematizes the determinants of base metal prices and evaluates their empirical influence using daily and weekly data [...] Read more.
Estimating long-term prices for base metals is central to the financial viability of mining investments, yet prices remain highly volatile and difficult to forecast. This study systematizes the determinants of base metal prices and evaluates their empirical influence using daily and weekly data from the London Metal Exchange (LME) for aluminium, copper, nickel, and zinc between April 2005 and May 2017. In this context, the study aims to identify and evaluate the key economic, financial, and physical drivers of base metal prices, with particular emphasis on distinguishing between short-run predictive factors and long-run equilibrium determinants. After aligning metal prices with candidate explanatory variables, linear associations are quantified through Pearson correlations and alternative functional forms are explored for price modelling, including linear, log-linear, and selected nonlinear transformations. The methodology is complemented with econometric diagnostics. Explanatory variables are grouped into four categories: (i) supply–demand metrics (inventories, production–consumption balances, sales aggregates, and LME position data), (ii) business cycle and income proxies (global GDP growth, China Caixin PMI, the U.S. S&P 500 index, and China steel rebar futures), (iii) investment variables (cross-metal prices and Brent crude), and (iv) monetary indicators (U.S. and the U.S. 10-year yield). Results show that short-run price movements are mainly driven by business cycle indicators and inventory dynamics, while long-run trends reflect structural supply conditions. Monetary variables generate temporary price impulses, and prices tend to lead speculative positioning rather than the reverse. Full article
(This article belongs to the Special Issue Macroeconomics and Financial Markets: From an International Perspective)
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22 pages, 1372 KB  
Article
Effects of Monetary Policy on Investment Dynamics in Latin American Economies Through a Model with Heterogeneous Firms
by Rodney Menezes
Economies 2026, 14(4), 120; https://doi.org/10.3390/economies14040120 - 7 Apr 2026
Viewed by 457
Abstract
This study examines how firms’ financial heterogeneity shapes the transmission of monetary policy to investment in Latin American economies. It develops an extended theoretical model with heterogeneous firms, calibrated for Latin American economies, and validates it empirically through local projection models. These projections [...] Read more.
This study examines how firms’ financial heterogeneity shapes the transmission of monetary policy to investment in Latin American economies. It develops an extended theoretical model with heterogeneous firms, calibrated for Latin American economies, and validates it empirically through local projection models. These projections are applied to both a dataset of 72 of the most representative firms from the six analyzed Latin American economies and simulated data from the theoretical model, enabling direct comparison of the results. The research yields three main findings. First, it shows that financial heterogeneity is crucial and determines how firms respond to a monetary shock. Firms with fragile structures or high levels of indebtedness tend to restrict investment following monetary expansions, whereas firms with stronger financial positions or greater distance to default tend to increase it. The aggregate effect depends on the distribution of financial structures in the economy and which group dominates. Second, a transmission mechanism is identified via a financial channel based on a price–quantity sequence. The drop in the real rate compresses spreads and raises the price of capital; if financial constraints are active, the monetary relief is used to repair balance sheets rather than to invest; otherwise, the stimulus quickly translates into investment. Finally, the study shows that ignoring heterogeneity—as in representative–agent models—leads to a significant overestimation of both the magnitude and persistence of investment responses to monetary policy shocks. Full article
(This article belongs to the Special Issue Macroeconomics and Financial Markets: From an International Perspective)
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