Eric Michael Scheffel

Personal Details

First Name:	Eric
Middle Name:	Michael
Last Name:	Scheffel
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RePEc Short-ID:	psc334
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	http://www.ericscheffel.com
	Office: AB482 199 Taikang East Road, Ningbo, 315100, China
	+447855620844
Terminal Degree:	2010 Economics Section; Cardiff Business School; Cardiff University (from RePEc Genealogy)

Affiliation

(25%) Economics Section
Cardiff Business School
Cardiff University

Cardiff, United Kingdom
http://www.cardiff.ac.uk/business-school/research/themes/economics
RePEc:edi:ecscfuk (more details at EDIRC)

(25%) Julian Hodge Institute of Applied Macroeconomics
Cardiff Business School
Cardiff University

Cardiff, United Kingdom
http://business.cardiff.ac.uk/julian-hodge-institute-applied-macroeconomics
RePEc:edi:jhiamuk (more details at EDIRC)

(25%) Office of National Statistics
Government of the United Kingdom

Newport, United Kingdom
http://www.statistics.gov.uk/
RePEc:edi:onsgvuk (more details at EDIRC)

(25%) Business School
University of Nottingham

Ningbo, China
http://www.nottingham.edu.cn/cn/business/
RePEc:edi:sinotcn (more details at EDIRC)

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

1. Scheffel, Eric, 2008. "A Credit-Banking Explanation of the Equity Premium, Term Premium, and Risk-Free Rate Puzzles," Cardiff Economics Working Papers E2008/30, Cardiff University, Cardiff Business School, Economics Section.

   Cited by:

   1. Scheffel, Eric, 2008. "Consumption Velocity in a Cash Costly-Credit Model," Cardiff Economics Working Papers E2008/31, Cardiff University, Cardiff Business School, Economics Section.

Articles

1. Zhang, Xuan & Zhang, Yongmin & Scheffel, Eric & Zhao, Yang, 2022. "A key driver for the mixed relationship between loan risk premiums and collateral: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 83(C).

   Cited by:

   1. Song, Hengxu & Yang, Zhongchao & Zhou, Yue, 2023. "Upstream subsidy or downstream subsidy? A quantitative analysis of credit subsidy in China," Economic Modelling, Elsevier, vol. 129(C).
   2. Jing Yang & Fan Ma & Yongmin Zhang & Yirong Liang, 2026. "The Impact of Capital Market Activity and Investor Sentiment on the Yield of Internet Money Market Funds: Evidence From Yu'ebao," Economics and Politics, Wiley Blackwell, vol. 38(1), pages 93-103, March.

2. Xiaoying Zhai & Yahui Hao & Eric M. Scheffel & Yongmin Zhang, 2020. "Investor Disagreement, Government Subsidies and the Abnormal Day-one Returns of IPOs: Evidence from China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(14), pages 3522-3550, November.

   Cited by:

   1. Hong, Ziyang & Liu, Qingfu & Tse, Yiuman & Wang, Zilu, 2023. "Black mouth, investor attention, and stock return," International Review of Financial Analysis, Elsevier, vol. 90(C).
   2. Andrikopoulos, Athanasios & Zheng, Min, 2023. "A dynamic analysis of the neglected firm effect," International Review of Financial Analysis, Elsevier, vol. 85(C).
   3. Zhongju Liao & Peiyan Zheng & Ke Chen & Yufei Wang, 2025. "How Does Environmental Innovation Affect Firms' Long‐Term Performance? An Analysis Based on Different Innovation Motivations," Business Strategy and the Environment, Wiley Blackwell, vol. 34(6), pages 7687-7699, September.
   4. Deng, Yu & Yu, Chenming & Zhong, Shengyang, 2025. "From government subsidies to media attention: A study of corporate environmental protection investment strategies driven by these two factors," International Review of Financial Analysis, Elsevier, vol. 104(PA).
   5. Xiaoying Zhai & Huiping Ma & Yongmin Zhang & Peijun Wang & Moau Yong Toh, 2024. "Institutional investor network and idiosyncratic volatility of stocks," Economics and Politics, Wiley Blackwell, vol. 36(3), pages 1261-1288, November.
   6. Yin, Libo & Zhu, Xiaoye, 2025. "Investor–firm interactions versus investor–investor interactions: Which enhances investor learning better?," International Review of Financial Analysis, Elsevier, vol. 104(PA).

3. Zhang, Yongmin & Ding, Shusheng & Scheffel, Eric M., 2019. "A key determinant of commodity price Co-movement: The role of daily market liquidity," Economic Modelling, Elsevier, vol. 81(C), pages 170-180.

   Cited by:

   1. Pan, Zhigang & Bai, Zhihong & Xing, Xiaochao & Wang, Zhufeng, 2024. "US inflation and global commodity prices: Asymmetric interdependence," Research in International Business and Finance, Elsevier, vol. 69(C).
   2. Amelie Schischke & Andreas Rathgeber, 2025. "Time-varying spillover effects within and between industrial metal markets," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 38(4), pages 911-939, December.
   3. Yongmin Zhang & Shusheng Ding & Haili Shi, 2022. "The impact of COVID‐19 on the interdependence between US and Chinese oil futures markets," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 42(11), pages 2041-2052, November.
   4. Ding, Shusheng & Zhang, Yongmin, 2020. "Cross market predictions for commodity prices," Economic Modelling, Elsevier, vol. 91(C), pages 455-462.
   5. Qian, Chenqi & Zhang, Tianding & Li, Jie, 2023. "The impact of international commodity price shocks on macroeconomic fundamentals: Evidence from the US and China," Resources Policy, Elsevier, vol. 85(PB).
   6. Zhang, Yongmin & Sun, Yiru, 2023. "Did U.S. and Chinese investors respond differently to the exogenous shocks from COVID-19 and the war in Ukraine?," International Review of Financial Analysis, Elsevier, vol. 88(C).
   7. Zhuo Chen & Bo Yan & Hanwen Kang & Liyu Liu, 2023. "Asymmetric price adjustment and price discovery in spot and futures markets of agricultural commodities," Review of Economic Design, Springer;Society for Economic Design, vol. 27(1), pages 139-162, February.
   8. Chen, Peng & He, Limin & Yang, Xuan, 2021. "On interdependence structure of China's commodity market," Resources Policy, Elsevier, vol. 74(C).
   9. Lin, Anlan & Gong, Xu, 2025. "Does public climate attention affect the net return spillover from energy to non-energy commodities?," Energy Economics, Elsevier, vol. 143(C).
   10. Benoît Faye & Eric Fur & Stéphanie Prat, 2024. "Exogeneous shocks, risk, and market convergence of real alternative and financial assets: evidence from nonlinear dynamics," Annals of Operations Research, Springer, vol. 334(1), pages 497-520, March.
   11. Luiz Augusto Magalhães & Thiago Christiano Silva & Benjamin Miranda Tabak, 2022. "Hedging commodities in times of distress: The case of COVID‐19," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 42(10), pages 1941-1959, October.
   12. Chen, Liangyu & Yusuyin, Alkut & Zhang, Renyi & Zhang, Yongmin, 2025. "Boards' green background and corporate ESG," International Review of Financial Analysis, Elsevier, vol. 105(C).
   13. Rezitis, Anthony N. & Rokopanos, Andreas & Tsionas, Mike G., 2021. "Investigating dynamic price co-movements in the international milk market using copulas: The role of trade agreements," Economic Modelling, Elsevier, vol. 95(C), pages 215-227.
   14. Amelie Schischke & Patric Papenfuß & Andreas Rathgeber, 2024. "The three co’s to jointly model commodity markets: co-production, co-consumption and co-trading," Empirical Economics, Springer, vol. 66(2), pages 883-925, February.
   15. Hammoudeh, Shawkat & Nguyen, Duc Khuong & Sousa, Ricardo M., 2024. "China's monetary policy framework and global commodity prices," Energy Economics, Elsevier, vol. 138(C).
   16. Khalfaoui, Rabeh & Baumöhl, Eduard & Sarwar, Suleman & Výrost, Tomáš, 2021. "Connectedness between energy and nonenergy commodity markets: Evidence from quantile coherency networks," Resources Policy, Elsevier, vol. 74(C).
       • Khalfaoui, Rabeh & Baumöhl, Eduard & Sarwar, Suleman & Výrost, Tomáš, 2021. "Connectedness between energy and nonenergy commodity markets: Evidence from quantile coherency networks," EconStor Preprints 235529, ZBW - Leibniz Information Centre for Economics.
       • Rabeh Khalfaoui & Eduard Baumöhl & Suleman Sarwar & Tomáš Výrost, 2021. "Connectedness between energy and nonenergy commodity markets: Evidence from quantile coherency networks," Post-Print hal-03797575, HAL.
   17. Yongmin Zhang & Yiru Sun & Haili Shi & Shusheng Ding & Yingxue Zhao, 2024. "COVID-19, the Russia–Ukraine war and the connectedness between the U.S. and Chinese agricultural futures markets," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
   18. Zhang, Yongmin & Liu, Xuewei & Tu, Wenjun & Toh, Moau Yong & Lai, Yuxiao, 2025. "Impact of OFDI on investment choice allocations," International Review of Financial Analysis, Elsevier, vol. 105(C).
   19. Li, Xiafei & Li, Bo & Wei, Guiwu & Bai, Lan & Wei, Yu & Liang, Chao, 2021. "Return connectedness among commodity and financial assets during the COVID-19 pandemic: Evidence from China and the US," Resources Policy, Elsevier, vol. 73(C).
   20. Tang, Yusui & Zhong, Juandan, 2023. "Predicting gold volatility: Exploring the impact of extreme risk in the international commodity market," Finance Research Letters, Elsevier, vol. 58(PB).
   21. Falik Shear & Muhammad Bilal & Badar Nadeem Ashraf & Nasir Ali, 2024. "Commodity Market Risk: Examining Price Co-Movements in the Pakistan Mercantile Exchange," Risks, MDPI, vol. 12(6), pages 1-15, May.
   22. Kamal, Md Mostafa & Roca, Eduardo & Li, Bin & Lin, Chen & Reza, Rajibur, 2025. "Price contagion and risk spillover in the global commodities market: COVID-19 pandemic vs. global financial crisis," Resources Policy, Elsevier, vol. 103(C).

4. Yongmin Zhang & Shusheng Ding & Eric Scheffel, 2018. "Policy impact on volatility dynamics in commodity futures markets: Evidence from China," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 38(10), pages 1227-1245, October.

   Cited by:

   1. Jing Wang & Junli Zhou & Fengshan Si & Yuling Wang, 2025. "Optimal Supply Chain Decision With Pre‐ and Aftersales Services and Capital Constraints," Economics and Politics, Wiley Blackwell, vol. 37(2), pages 826-837, July.
   2. Libo Yin & Jier Zhang & Hong Cao & Ying Li, 2025. "The Role of Policy on Commodity Markets: From the Perspective of Narrative News Based on NLP," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 45(11), pages 1871-1910, November.
   3. Xiaoying Zhai & Huiping Ma & Yongmin Zhang & Hanglin Jin & Moau Yong Toh, 2025. "Investor Network Density and Stock Crash Risk," Economics and Politics, Wiley Blackwell, vol. 37(3), pages 869-879, November.
   4. Kathrin Hellmuth & Christian Klingenberg, 2022. "Computing Black Scholes with Uncertain Volatility-A Machine Learning Approach," Papers 2202.07378, arXiv.org.
   5. Yongmin Zhang & Shusheng Ding & Haili Shi, 2022. "The impact of COVID‐19 on the interdependence between US and Chinese oil futures markets," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 42(11), pages 2041-2052, November.
   6. Ding, Shusheng & Zhang, Yongmin, 2020. "Cross market predictions for commodity prices," Economic Modelling, Elsevier, vol. 91(C), pages 455-462.
   7. Gaoxiu Qiao & Yangli Cao & Feng Ma & Weiping Li, 2023. "Liquidity and realized covariance forecasting: a hybrid method with model uncertainty," Empirical Economics, Springer, vol. 64(1), pages 437-463, January.
   8. Zhang, Yongmin & Sun, Yiru, 2023. "Did U.S. and Chinese investors respond differently to the exogenous shocks from COVID-19 and the war in Ukraine?," International Review of Financial Analysis, Elsevier, vol. 88(C).
   9. Owusu Junior, Peterson & Tiwari, Aviral Kumar & Tweneboah, George & Asafo-Adjei, Emmanuel, 2022. "GAS and GARCH based value-at-risk modeling of precious metals," Resources Policy, Elsevier, vol. 75(C).
   10. Chen, Liangyu & Yusuyin, Alkut & Zhang, Renyi & Zhang, Yongmin, 2025. "Boards' green background and corporate ESG," International Review of Financial Analysis, Elsevier, vol. 105(C).
   11. Yongmin Zhang & Yiru Sun & Haili Shi & Shusheng Ding & Yingxue Zhao, 2024. "COVID-19, the Russia–Ukraine war and the connectedness between the U.S. and Chinese agricultural futures markets," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
   12. Zhang, Yongmin & Ding, Shusheng, 2021. "Liquidity effects on price and return co-movements in commodity futures markets," International Review of Financial Analysis, Elsevier, vol. 76(C).
   13. Yongmin Zhang & Keyu Chen & Yingxue Zhao & Wenjun Tu, 2026. "Green Credit and ESG Performance in Construction Enterprises," Economics and Politics, Wiley Blackwell, vol. 38(2), pages 460-472, July.
   14. Wang, Haiying & Luo, Ting & Jiang, Chonghui & Du, Jiangze, 2026. "Which companies are most at low-carbon transition risks? Evidence from ripple effects in multi-order moments," International Review of Financial Analysis, Elsevier, vol. 110(C).
   15. Zhang, Yongmin & Ding, Shusheng & Scheffel, Eric M., 2019. "A key determinant of commodity price Co-movement: The role of daily market liquidity," Economic Modelling, Elsevier, vol. 81(C), pages 170-180.
   16. Zhang, Yongmin & Liu, Xuewei & Tu, Wenjun & Toh, Moau Yong & Lai, Yuxiao, 2025. "Impact of OFDI on investment choice allocations," International Review of Financial Analysis, Elsevier, vol. 105(C).
   17. Yongmin Zhang & Shusheng Ding & Meryem Duygun, 2019. "Derivatives pricing with liquidity risk," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 39(11), pages 1471-1485, November.
   18. Guo, Jin & Wen, Xiaoqian, 2024. "Option listing and underlying commodity futures volatility in China," Economic Modelling, Elsevier, vol. 141(C).
   19. Jing Yang & Fan Ma & Yongmin Zhang & Yirong Liang, 2026. "The Impact of Capital Market Activity and Investor Sentiment on the Yield of Internet Money Market Funds: Evidence From Yu'ebao," Economics and Politics, Wiley Blackwell, vol. 38(1), pages 93-103, March.
   20. Mert Demir & Terrence F. Martell & Jun Wang, 2019. "The trilogy of China cotton markets: The lead–lag relationship among spot, forward, and futures markets," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 39(4), pages 522-534, April.

5. Michael C. Hatcher & Eric M. Scheffel, 2016. "Solving the Incomplete Markets Model in Parallel Using GPU Computing and the Krusell–Smith Algorithm," Computational Economics, Springer;Society for Computational Economics, vol. 48(4), pages 569-591, December.

   Cited by:

   1. Ivo Bakota, 2023. "Market Clearing and Krusell-Smith Algorithm in an Economy with Multiple Assets," Computational Economics, Springer;Society for Computational Economics, vol. 62(3), pages 1007-1045, October.

6. Eric M. Scheffel, 2016. "Accounting for the Political Uncertainty Factor," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 31(6), pages 1048-1064, September.

   Cited by:

   1. Godil, Danish Iqbal & Sarwat, Salman & Sharif, Arshian & Jermsittiparsert, Kittisak, 2020. "How oil prices, gold prices, uncertainty and risk impact Islamic and conventional stocks? Empirical evidence from QARDL technique," Resources Policy, Elsevier, vol. 66(C).
   2. Matousek, Roman & Panopoulou, Ekaterini & Papachristopoulou, Andromachi, 2020. "Policy uncertainty and the capital shortfall of global financial firms," Journal of Corporate Finance, Elsevier, vol. 62(C).
   3. Li, Xiang, 2022. "How does economic policy uncertainty affect corporate debt maturity?," IWH Discussion Papers 5/2022, Halle Institute for Economic Research (IWH).
   4. Karanasos, M. & Yfanti, S., 2021. "On the Economic fundamentals behind the Dynamic Equicorrelations among Asset classes: Global evidence from Equities, Real estate, and Commodities," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
   5. Li, Xiang & Su, Dan, 2020. "How does economic policy uncertainty affect corporate debt maturity?," IWH Discussion Papers 6/2020, Halle Institute for Economic Research (IWH).
   6. Dang, Dandan & Fang, Hongsheng & He, Minyuan, 2019. "Economic policy uncertainty, tax quotas and corporate tax burden: Evidence from China," China Economic Review, Elsevier, vol. 56(C), pages 1-1.
   7. Prüser, Jan & Schlösser, Alexander, 2018. "On the time-varying effects of economic policy uncertainty on the US economy," Ruhr Economic Papers 761, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
   8. Belcaid, Karim & El Ghini, Ahmed, 2019. "U.S., European, Chinese economic policy uncertainty and Moroccan stock market volatility," The Journal of Economic Asymmetries, Elsevier, vol. 20(C).
   9. Bannigidadmath, Deepa & Narayan, Paresh Kumar, 2021. "Commodity futures returns and policy uncertainty," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 364-383.
   10. Jing Yuan & Yajing Dong & Weijie Zhai & Zongwu Cai, 2021. "Economic Policy Uncertainty: Cross-Country Linkages and Spillover Effects on Economic Development in Some Belt and Road Countries," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202110, University of Kansas, Department of Economics, revised Nov 2021.
   11. Rehman, Mobeen Ur & Sensoy, Ahmet & Eraslan, Veysel & Shahzad, Syed Jawad Hussain & Vo, Xuan Vinh, 2021. "Sensitivity of US equity returns to economic policy uncertainty and investor sentiments," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
   12. Hossein Asgharian & Charlotte Christiansen & Ai Jun Hou, 2017. "Economic Policy Uncertainty and Long-Run Stock Market Volatility and Correlation," CREATES Research Papers 2018-12, Department of Economics and Business Economics, Aarhus University.
   13. Phan, Dinh Hoang Bach & Sharma, Susan Sunila & Tran, Vuong Thao, 2018. "Can economic policy uncertainty predict stock returns? Global evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 55(C), pages 134-150.
   14. Zhang, Feng & Huang, Yongming & Nan, Xiaoli, 2022. "The price volatility of natural resource commodity and global economic policy uncertainty: Evidence from US economy," Resources Policy, Elsevier, vol. 77(C).
   15. Salah Uddin & Javed Iqbal & Mark Wohar, 2026. "Strategic insights into export diversification in Pakistan under trade policy uncertainty," Economic Change and Restructuring, Springer, vol. 59(3), pages 1-46, June.
   16. Sun, Xiaolei & Chen, Xiuwen & Wang, Jun & Li, Jianping, 2020. "Multi-scale interactions between economic policy uncertainty and oil prices in time-frequency domains," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
   17. Zhang, Yongmin & Ding, Shusheng & Scheffel, Eric M., 2019. "A key determinant of commodity price Co-movement: The role of daily market liquidity," Economic Modelling, Elsevier, vol. 81(C), pages 170-180.
   18. Yuan, Di & Li, Sufang & Li, Rong & Zhang, Feipeng, 2022. "Economic policy uncertainty, oil and stock markets in BRIC: Evidence from quantiles analysis," Energy Economics, Elsevier, vol. 110(C).

7. Eric Scheffel & Andrew Thomas, 2011. "Employment and intangible spending in the UK's creative industries - A view from the micro data," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 5(1), pages 79-104, January.

   Cited by:

   1. Maddah, Lina & Arauzo Carod, Josep Maria, 2021. "Cultural and Creative Industries: Empirical Evidence on Employment Growth," Working Papers 2072/534910, Universitat Rovira i Virgili, Department of Economics.

8. Pete Brodie & Tullio Buccellato & Eric Scheffel, 2011. "Assessing the accuracy of business‐level forecasts," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 5(4), pages 119-134, April.

   Cited by:

   1. Frank Heilig & Edward J. Lusk, 2020. "OLS-Regression Forecasting Confidence Intervals Capture Rates: Precision Profiling in the Forecasting Model Selection Process," International Business Research, Canadian Center of Science and Education, vol. 13(4), pages 1-14, April.

More information

Research fields, statistics, top rankings, if available.

Statistics

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Co-authorship network on CollEc

NEP Fields

NEP is an announcement service for new working papers, with a weekly report in each of many fields. This author has had 3 papers announced in NEP. These are the fields, ordered by number of announcements, along with their dates. If the author is listed in the directory of specialists for this field, a link is also provided.

1. NEP-MAC: Macroeconomics (2) 2009-01-03 2009-01-03
2. NEP-BEC: Business Economics (1) 2009-01-03
3. NEP-DGE: Dynamic General Equilibrium (1) 2009-01-03
4. NEP-POL: Positive Political Economics (1) 2012-03-21

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