Staff profile

Prospective PhD students are invited to contact the School's Research Office in the first instance to discuss their area of interest.

• Financial economics / financial risk management
• Monetary economics and macroeconomics
• Central banking and financial regulation
• Central Bank Digital currencies
• Financial risk management
• Equity release
• Free banking, private money, mortality and longevity risk
• War on cash
• Pensions/Pension metrics

Authored book

• Dowd, K. (in press). The Experience of Free Banking, 2nd edition. (2nd Edition). Institute of Economic Affairs
• Dowd, K., & Hutchinson, M. (2010). Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System. Wiley
• Dowd, K. (2009). Lessons from the Financial Crisis: A Libertarian Perspective. Libertarian Alliance, Online
• Dowd, K. (2008). Measuring Market Risk. (2nd). John Wiley and Sons
• Dowd, K. (2005). Measuring Market Risk. (2nd). John Wiley and Sons
• Dowd, K. (2002). An Introduction to Market Risk Measurement. (August). John Wiley and Sons
• Dowd, K. (2000). Money and the Market: Essays on Free Banking. Routledge
• Dowd, K. (1998). Beyond Value at Risk: The New Science of Risk Management. (March). John Wiley and Sons
• Dowd, K. (1996). Competition and Finance: A Reinterpretation of Financial and Monetary Economics. MacMillan Press
• Dowd, K. (1993). Laissez-Faire Banking. Routledge
• Dowd, K. (1989). The State and the Monetary System. Phillip Allan Publishers, St Martin's Press
• Dowd, K. (1988). Private Money: The Path to Monetary Stability. Institute of Economic Affairs

Chapter in book

• Down, K. (2015). Free Banking. In P. Boettke, & C. Coyne (Eds.), Oxford Handbook of Austrian Economics. Oxford University Press
• Dowd, K. (2012). Model Risk. In F. Fabozzi (Ed.), Encyclopedia of Financial Models. Wiley: Hoboken, NJ
• Dowd, K., & Hutchinson, M. (2010). Reawakening the Inflation Monster: US Monetary Policy and the Federal Reserve. In R. Kolb (Ed.), Lessons from the Financial Crisis: Insights and Analysis from Today's Leading Minds (475-481). Wiley. https://doi.org/10.1002/9781118266588.ch59
• Dowd, K. (2010). Value-at-Risk. In R. Cont (Ed.), Encyclopedia of Quantitative Finance (1863-1866). (1). Wiley
• Aragones, J., Blanco, C., & Dowd, K. (2009). Stress Tests, Market Risk Measures and Extremes: Bringing Stress Tests to the Forefront of Market Risk Management. In D. Rosch, & H. Scheule (Eds.), Stress Testing for Financial Institutions: Applications, Regulations and Techniques (17-33). Risk Books
• Cotter, J., & Dowd, K. (2009). Quantile-based tail risk estimation for equity portfolios. In G. Gregoriou (Ed.), The VaR Modelling Handbook: Practical Applications in Alternative INvesting, Banking, Insurance and Portfolio Management (297-313). (01). McGraw-Hill
• Dowd, K., & Blanco, C. (2009). Efficient VaR: Using Past Forecast Performance to Generate Improved VaR Forecasts. In G. Gregoriou (Ed.), The VaR Implementation Handbook: Financial Risk and its Applications in Asset Management, Measurement and Modeling (25-39). (01). McGraw-Hill
• Dowd, K. (2008). Back-Testing Market Risk Models. In F. Fabozzi (Ed.), Handbook of Finance (93-99). Wiley: Hoboken, NJ. https://doi.org/10.1002/9780470404324
• Blake, D., & Dowd, K. (2008). Securitization/Life. In E. Melnick, & B. Everitt (Eds.), Encyclopedia of Quantitative Risk Analysis and Assessment (1623-1627). John Wiley and Sons
• Dowd, K. (2008). Default Risk. In E. Melnick, & B. Everitt (Eds.), Encyclopedia of Quantitative Risk Assessment and Analysis (476-481). John Wiley and Sons. https://doi.org/10.1002/9780470061596
• Dowd, K. (2008). A Moments-based Procedure for Evaluating Risk Forecasting Models. In G. Christodoulakis, & S. Satcchell (Eds.), Analytics of Risk Model Validation (45-59). Elsevier
• Dowd, K. (2006). Forecasting Inflation: The Inflation "Fan Charts". In K. A. Matthews, & P. Booth (Eds.), Isues in Monetary Policy: The Relationship between Money and Financial Markets (80-93). John Wiley and Sons, Chichester
• Dowd, K. (2006). Value-at-Risk. In J. Teugelsl, & B. Sundt (Eds.), Encyclopedia of Actuarial Science (1740-1748). John Wiley and Sons. https://doi.org/10.1002/9780470012505.tav004
• Dowd, K. (2002). Time Inconsistency. In B. A. Snowdon, & H. Vane (Eds.), An Encyclopedia of Macroeconomics (699-703). Edward Elgar, Cheltenham
• Dowd, K. (2002). Gold Standard. In B. A. Snowdon, & H. Vane (Eds.), An Encyclopedia of Macroeconomics (293-296). Edward Elgar, Cheltenham
• Dowd, K., & Hinchliffe, J. (2000). Patemalism Fails Again - The Story of the Financial Services Act. In K. Dowd (Ed.), Money and the Market: Essays on Free Banking (167-182). Routledge
• Dowd, K. (2000). The "Compensated Dollar" Revisited. In K. Dowd (Ed.), Money and the Market: Essays on Free Banking (104-113). Routledge
• Dowd, K. (1999). The Invisible Hand and the Evolution of the Monetary System. In J. Smithin (Ed.), What is Money? (139-156). Routledge
• Dowd, K. T., & Jr, R. (1998). The Misguided Drive Toward European Monetary Union. In Money and the Nation State: The Financial Revolution, Government and the World Monetary System. Transaction Publishers
• Chappell, D., & Dowd, K. (1997). Is Convertibility on Demand Always Optimal?. In P. Topsacalian (Ed.), Contemporary Developments in Finance (167-174). ESKA
• Dowd, K. (1997). Option Clause. In D. Glasner (Ed.), Business Cycles and Depressions. An Encyclopedia (501-2). Garland Pulbishers, New York
• Dowd, K. (1995). Money and Banking: The American Experience. In G. E. D. Foundation (Ed.), Money and Banking: The American Experience (1-29). George Mason University Press
• Dowd, K. (1994). Free Banking. In A. Mullineux, & V. Murinde (Eds.), Handbook of International Banking (173-190). Edward Elgar Publishing
• Dowd, K. (1994). Free Banking. In P. Boettke (Ed.), The Elgar Companion to Austrian Economics (408-413). Edward Elgar Publishing
• Dowd, K. (1992). Stopping Inflation. In Honest Money (13-22). (21). Australian Institute for Public Policy. Perth, WA
• Dowd, K. (1992). Free Banking in Australia. In K. Dowd (Ed.), The Experience of Free Banking (48-78). Routledge
• Dowd, K. (1992). US Banking in the Free Banking Period. In K. Dowd (Ed.), The Experience of Free Banking (206-240). Routledge
• Dowd, K. (1991). The Evolution of Central Banking in England, 1821-1890. In F. Capie, & G. Wood (Eds.), Unregulated Banking: Order or Chaos? (24-28). Macmillan

Edited book

• Dowd, K. T., & Jr., R. (Eds.). (1998). Money and the Nation State: The Financial Revolution, Government and the World Monetary System. Transaction Publishers, New Brunswick, NJ
• Dowd, K. (Ed.). (1992). The Experience of Free Banking. Routledge
• Dowd, K., & Lewis, M. (Eds.). (1992). Current Issues in Monetary Theory and Policy. Macmillan

Journal Article

• Buckner, D., Dowd, K., & Hulley, H. (2024). How suitable are equity release mortgages as investments for pension funds?. Geneva Papers on Risk and Insurance - Issues and Practice, https://doi.org/10.1057/s41288-024-00316-1
• Dowd, K. (2024). So far, Central Bank Digital Currencies have failed. Economic Affairs, https://doi.org/10.1111/ecaf.12621
• Buckner, D., Dowd, K., & Hulley, H. (2024). Arbitrage problems with reflected geometric Brownian motion. Finance and Stochastics, 28(1), 1-26. https://doi.org/10.1007/s00780-023-00525-x
• Buckner, D., Dowd, K., & Hulley, H. (2023). A market consistent approach to the valuation of no-negative equity guarantees and equity release mortgages. Journal of Demographic Economics, 89(3), 349-372. https://doi.org/10.1017/dem.2023.6
• Cairns, A. J., Blake, D., Dowd, K., Coughlan, G. D., Jones, O., & Rowney, J. (2022). A General Framework for Analysing the Mortality Experience of a Large Portfolio of Lives: With an Application to the UK Universities Superannuation Scheme. European Actuarial Journal, 12(1), 381-415. https://doi.org/10.1007/s13385-022-00309-1
• Dowd, K., & Blake, D. (2022). Good Practice Principles in Modelling Defined Contribution Pension Plans. Journal of Risk and Financial Management, 15(3), Article 108. https://doi.org/10.3390/jrfm15030108
• Buckner, D., & Dowd, K. (2022). Discounting the Discounted Projection Approach. North American Actuarial Journal, 26(4), 521-536. https://doi.org/10.1080/10920277.2021.1916537
• Dowd, K., & Blake, D. (2022). Projecting Mortality Rates to Extreme Old Age with the CBDX Model. Forecasting, 4(1), 208-218. https://doi.org/10.3390/forecast4010012
• Hutchinson, M., & Dowd, K. (2021). The Economic Policies of Lord Liverpool. The Cato journal, 41(3), 711-727. https://doi.org/10.36009/cj.41.3.12
• Buckner, D., & Dowd, K. (2020). How Profitable are Equity Release Mortgages?. Economics Letters, 197, Article 109651. https://doi.org/10.1016/j.econlet.2020.109651
• Dowd, K., Cairns, A., & Blake, D. (2020). CBDX: A Workhorse Mortality Model from the Cairns-Blake-Dowd Family. Annals of Actuarial Science, 14(2), 445-460. https://doi.org/10.1017/s1748499520000159
• Dowd, K., Blake, D., Buckner, D., & Fry, J. (2019). The valuation of no-negative equity guarantees and equity release mortgages. Economics Letters, 184, Article 108669. https://doi.org/10.1016/j.econlet.2019.108669
• Dowd, K. (2019). The war on cash is about much more than cash. Economic Affairs, 39(3), 391-399. https://doi.org/10.1111/ecaf.12377
• Cairns, A., Kallestrup, M., Rosenskjold, C., Blake, D., & Dowd, K. (2019). Modelling Socio-Economic Differences in Mortality Using a New Affluence Index. ASTIN Bulletin: The Journal of the IAA, 49(3), 555-590. https://doi.org/10.1017/asb.2019.14
• Dowd, K., Cairns, A., & Blake, D. (2019). Hedging Annuity Risks with the Age-Period-Cohort Two-Population Gravity Model. North American Actuarial Journal, 25(sup1), S170-S181. https://doi.org/10.1080/10920277.2019.1652102
• Blake, D., Cairns, A., Dowd, K., & Other, A. (2019). Still living with mortality: the longevity risk transfer market after one decade. British Actuarial Journal, 24, Article e1. https://doi.org/10.1017/s1357321718000314
• Dowd, K., & Hutchinson, M. (2018). The apotheosis of the rentier: how Napoleonic war finance kickstarted the industrial revolution. The Cato journal, 38(3), 255-278
• Dowd, K., & Hutchinson, M. (2017). From Excess Stimulus to Monetary Mayhem. The Cato journal, 37(2), 303-328
• Cairns, A., Blake, D., Dowd, K., & Kessler, A. (2016). Phantoms never die: living with unreliable population data. Journal of the Royal Statistical Society: Series A, 179(4), 975-1005. https://doi.org/10.1111/rssa.12159
• Dowd, K., Blake, D., & Cairns, A. (2016). The Myth of Methusalah and the Uncertainty of Death: The Mortality Fan Charts. Risks, 4(3), Article 21. https://doi.org/10.3390/risks4030021
• Dowd, K., & Hutchinson, M. (2016). Learning the Right Lessons from the Financial Crisis. The Cato journal, 36(2), 393-413
• Blake, D., Cairns, A., Coughlan, G., Dowd, K., & MacMinn, R. (2016). Le nouveau marché du risque de longévité. https://doi.org/10.3917/ecofi.122.0129
• Dowd, K. (2015). Central Bank Stress Tests: Mad, Bad, and Dangerous. The Cato journal, 35(3), 507-524
• Down, K., & Hutchinson, M. (2015). Bitcoin Will Bite the Dust. The Cato journal, 35(2), 357-382
• Dowd, K., & Hutchinson, M. (2014). How Should the Financial System be Regulated?. The Cato journal, 34(2), 353-388
• Dowd, K. (2014). Math Gone Mad: Regulatory Risk Modeling by the Federal Reserve
• Mozumder, S., Sorwar, G., & Dowd, K. (2013). Option Pricing Under Non-Normality: A Comparative Analysis. Review of Quantitative Finance and Accounting, 40(2), 273-292. https://doi.org/10.1007/s11156-011-0271-y
• Cairns, A., Dowd, K., Blake, D., & Coughlan, G. (2013). Longevity hedge effectiveness : a decomposition. Quantitative Finance, 14(2), 217-235. https://doi.org/10.1080/14697688.2012.748986
• Dowd, K. (2013). Moral Hazard and the Financial Crisis. The Cato journal, 29(1), 141-166
• Dowd, K., Kerr, G., & Hutchinson, M. (2012). The Coming Fiat Money Cataclysm and the Case for Gold. The Cato journal, 32(2), 363-388
• Learmonth, M., Lockett, A., & Dowd, K. (2012). Promoting Scholarship that Matters: The Uselessness of Useful Research and the Usefulness of Useless Research. British Journal of Management, 23(1), 35-44. https://doi.org/10.1111/j.1467-8551.2011.00754.x
• Dowd, K., Cotter, J., & Loh, L. (2011). U.S. Core Inflation: a Wavelet Analysis. Macroeconomic Dynamics, 15(4), 513-536. https://doi.org/10.1017/s1365100510000179
• Dowd, K., & Hutchinson, M. (2011). U.S. Decapitalization, Easy Money and Asset Price Cycles. The Cato journal, 31(3), 505-519
• Cairns, A., Blake, D., Dowd, K., Coughlan, G., Epstein, D., & Khalaf-Allah, M. (2011). Mortality Density Forecasts: An Analysis of Six Stochastic Mortality Models. Insurance: Mathematics and Economics, 48(3), 355-367. https://doi.org/10.1016/j.insmatheco.2010.12.005
• Dowd, K., Blake, D., & Cairns, J. (2011). A Computationally Efficient Algorithm For Estimating The Distribution Of Future Annuity Values Under Interest-Rate and Longevity Risks. North American Actuarial Journal, 15(2), 237-247. https://doi.org/10.1080/10920277.2011.10597619
• Cairns, A., Blake, D., Dowd, K., Khalaf-Allah, M., & Coughlan, G. (2011). A Gravity Model of Mortality Rates for Two Related Populations. North American Actuarial Journal, 15(2), 334-356. https://doi.org/10.1080/10920277.2011.10597624
• Cairns, A., Blake, D., Dowd, K., Coughlan, G., & Khalaf-Allah, M. (2011). Bayesian Stochastic Mortality Modelling for Two Populations. ASTIN Bulletin: The Journal of the IAA, 41(1), 29-59. https://doi.org/10.2143/ast.41.1.2084385
• Cairns, A., Dowd, K., Blake, D., & Coughlan, G. (2011). Longevity Hedge Effectiveness: A Decomposition. Discussion paper _ Birkbeck College. Pensions Institute,
• Dowd, K., & Cronin, D. (2011). Fiscal Fan Charts - A Tool for Assessing Member States'(Likely?)Compliance with EU Fiscal Rules
• Dowd, K., & Hutchinson, M. (2011). Easy Money and the Decapitalization of America
• Dowd, K. (2011). The End of a Monetary Phenomenon
• Morgan, W., Cotter, J., & Dowd, K. (2011). Extreme Measures of Agricultural Financial Risk. Journal of Agricultural Economics, 63(1), 65-82. https://doi.org/10.1111/j.1477-9552.2011.00322.x
• Cotter, J., & Dowd, K. (2011). Extreme global equity market risk. Journal of derivatives & hedge funds, 17(4), 312-325. https://doi.org/10.1057/jdhf.2011.14
• Dowd, K., Hutchinson, M., Ashby, S., & Hinchliffe, J. (2011). Capital Inadequacies: The Dismal Failure of the Basel System of Bank Capital Regulation
• Coughlan, G., Khalaf-Allah, M., Ye, Y., Kumar, S., Cairns, A., Blake, D., & Dowd, K. (2011). Longevity Hedging 101: A Framework for the Longevity Basis Risk Analysis and Hedge Effectiveness. North American Actuarial Journal, 15(2), 150-176. https://doi.org/10.1080/10920277.2011.10597615
• Sorwar, G., & Dowd, K. (2010). Estimating Financial Risk Measures for Options. Journal of Banking and Finance, 34(8), 1982-1992. https://doi.org/10.1016/j.jbankfin.2010.01.005
• Dowd, K., Cairns, A., Blake, D., Coughlan, G., Epstein, D., & Khalaf-Allah, M. (2010). Evaluating the Goodness of Fit of Stochastic Mortality Models. Insurance: Mathematics and Economics, 47(3), 255-273. https://doi.org/10.1016/j.insmatheco.2010.06.006
• Cotter, J., & Dowd, K. (2010). Intra-Day Seasonality in Foreign Exchange Market Transactions. International Review of Economics and Finance, 19(2), 287-294. https://doi.org/10.1016/j.iref.2009.08.003
• Dowd, K., Blake, D., & Cairns, A. (2010). Facing up to Uncertain Life Expectancy: The Longevity Fan Charts. Demography, 47(1), 67-78. https://doi.org/10.1353/dem.0.0083
• Dowd, K., Cairns, A., Blake, D., Coughlan, D., Epstein, D., & Khalaf-Allah, M. (2010). Backtesting Stochastic Mortality Models: An Ex-Post Evaluation of Multi-Period-Ahead Density Forecasts. North American Actuarial Journal, 14(3), 281-298. https://doi.org/10.1080/10920277.2010.10597592
• Dowd, K. (2010). Using Order Statistics to Estimate Confidence Intervals for Quantile-based Risk Measures. The journal of derivatives, 17(3), 9-14. https://doi.org/10.3905/jod.2010.17.3.009
• Dawson, P., Dowd, K., Cairns, A., & Blake, D. (2010). Survivor Derivatives: A Consistent Pricing Framework. Journal of Risk and Insurance, 77(3), 579-596. https://doi.org/10.1111/j.1539-6975.2010.01356.x
• Dawson, P., Dowd, K., Cairns, A., & Blake, D. (2009). Options on Normal Underlyings with an Application to the Pricing of Survivor Swaptions. Journal of Futures Markets, 29(8), 757-774. https://doi.org/10.1002/fut.20378
• Cairns, A., Blake, D., Dowd, K., Coughlan, G., Epstein, D., Ong, A., & Balevich, I. (2009). A Quantitative Comparison of Stochastic Mortality Models Using Data from England and Wales and the United States. North American Actuarial Journal, 13(1), 1-35
• Blake, B., Cairns, A., & Dowd, K. (2009). Designing a Defined Contribution Plan: What to Learn from Aircraft Designers. Financial Analysts Journal, 65(1), 37-42. https://doi.org/10.2469/faj.v65.n1.7
• Woods, M., Humphrey, C., Dowd, K., & Liu, Y. (2009). Crunch Time for Bank Audits? Questions of Practice and the Scope for Dialogue. Managerial Auditing Journal, 24(2), 114-134. https://doi.org/10.1108/02686900910924545
• Blake, D., Cairns, A., & Dowd, K. (2008). The Birth of the Life Market. Asia-Pacific Journal of Risk and Insurance, 3(1), 6-36. https://doi.org/10.2202/1793-2157.1027
• Dowd, K. (2008). Copulas in Macroeconomics
• Blake, D., Dowd, K., & Cairns, A. (2008). Longevity Risk and the Grim Reaper's Toxic Tail: The Survivor Fan Charts. Insurance: Mathematics and Economics, 42, 1062-1068
• Dowd, K., Bartlett, D., Chaplin, M., Kelliher, P., & O'Brien, C. (2008). Risk Management in the UK Insurance Indusry: The Changing State of Practice. International Journal of Financial Services Management, 3(1), 5-23. https://doi.org/10.1504/ijfsm.2008.016696
• Dowd, K., Cotter, J., & Sorwar, G. (2008). Spectral Risk Measures: Properties and Limitations. Journal of Financial Services Research, 34(1), 61-75. https://doi.org/10.1007/s10693-008-0035-6
• Dowd, K. (2008). The GDP Fan Charts: An Empirical Evaluation. National Institute Economic Review, 203(1), 59-67. https://doi.org/10.1177/00279501082030010801
• Cairns, A., Blake, D., & Dowd, K. (2008). Modelling and Management of Mortality Risk: A Review. Scandinavian Actuarial Journal, 2008(2-3), 79-113. https://doi.org/10.1080/03461230802173608
• Dowd, K. (2008). The Swedish Inflation Fan Charts: An Evaluation of the Riksbank's Inflation Density Forecasts. Journal of Risk Model Validation, 2(1), 73-87
• Woods, M., Dowd, K., & Humphrey, C. (2008). The Value of Risk Reporting: A Critical Analysis of Value-at-Risk Disclosures in the Banking Sector. International Journal of Financial Services Management, 3(1), 45-64. https://doi.org/10.1504/ijfsm.2008.016698
• Dowd, K. (2008). It's Time to Abolish Risk-Based Regulation
• Dowd, K., Cotter, J., Humphrey, C., & Woods, M. (2008). How Unlucky is 25-Sigma?. Journal of portfolio management, 34(4), 76-80. https://doi.org/10.3905/jpm.2008.709984
• Byrne, A., Blake, D., Cairns, A., & Dowd, K. (2007). Default Funds in UK Defined Contribution Pension Plans. Insurance: Mathematics and Economics, 63(4), 40-51
• Cotter, J., & Dowd, K. (2007). The Tail Risks of FX Return Distributions: A Comparison of the Returns Associated with Limit Orders and Market Orders. Finance Research Letters, 4(3), 146-154. https://doi.org/10.1016/j.frl.2007.05.002%2C
• Blake, D., Cairns, A., & Dowd, K. (2007). The Impact of Occupation and Gender on Pensions from Defined Contribution Plans. Geneva Papers on Risk and Insurance - Issues and Practice, 32(October), 458-482. https://doi.org/10.1057/palgrave.gpp.2510141
• Blake, D., Cotter, J., & Dowd, K. (2007). Financial Risks and the Pension Protection Fund: Can it survive them?. https://doi.org/10.1057/palgrave.pm.5950054
• (In)credibility of the UK Inflation Fan Charts. Journal of Macroeconomics, 29(1), 91-102. https://doi.org/10.1016/j.jmacro.2005.04.003
• Dowd, K. (2007). Temporal Dependence in Multi-Step Density Forecasting Models. Journal of Risk Model Validation, 1(1), 1-20
• Dowd, K. (2007). Validating Multiple-Period Density Forecasting Models. Journal of Forecasting, 26(4), 251-270. https://doi.org/10.1002/for.1025
• Dowd, K. (2007). Backtesting the RPIX Inflation Fan Charts. Journal of Risk Model Validation, 1(3), 1-19
• Dowd, K. (2006). Using Order Statistics to Estimate Confidence Intervals for Probabilistic Risk Measures. The journal of derivatives, 14(2), 77-81. https://doi.org/10.3905/jod.2006.667552
• Cotter, J., & Dowd, K. (2006). Extreme Spectral Risk Measures: An Application to Futures Clearinghouse Margin Requirements. Journal of Banking and Finance, 30(12), 3469-3485. https://doi.org/10.1016/j.jbankfin.2006.01.008%2C
• Dowd, K. (2006). Backtesting Risk Models within a Standard Normality Framework. Journal of Risk, 9(2), 93-111
• Dowd, K. (2006). FOMC Macroeconomic Forecasts: A Non-Parametric Analysis. International Journal of Applied Economics and Finance, 3(2), 1-8
• Dowd, K., & Blake, D. (2006). After VaR: The Theory, Estimation and Insurance Applications of Quantile-based Risk Measures. Journal of Risk and Insurance, 73(2), 193-228. https://doi.org/10.1111/j.1539-6975.2006.00171.x
• Dowd, K. (2005). Copulas and Coherence: Portfolio Analysis in a Non-Normal World. Journal of portfolio management, 32(1), 123-127. https://doi.org/10.3905/jpm.2005.599516
• Dowd, K. (2004). A Modified Berkowitz Back-test
• Dowd, K. (2004). Rejoinder to Huang. Journal of portfolio management, 30(3),
• Dowd, K., Blake, D., & Cairns, A. (2004). Long-term Value at Risk. Journal of Risk Finance, 5(2), 52-57. https://doi.org/10.1108/eb022986
• Dowd, K. (2002). A Bootstrap Back-test
• Dowd, K. (2002). Assessing the Pre-Commitment Approach to Bank Capital Regulation. Journal of Risk Finance, 3(4), 35-40
• Dowd, K. (2001). Estimating the Failure Probabilities of Financial Institutions: A Simple Approach. Journal of Risk Finance, 2(4), 33-38. https://doi.org/10.1108/eb043473
• Cronin, D., & Dowd, K. (2001). Does Monetary Policy have a Future?
• Dowd, K. (2001). The Emergence of Fiat Money: A Reconsideration
• Dowd, K. (2000). Bank Capital Adequacy versus Deposit Insurance. Journal of Financial Services Research, 17(1), 7-15. https://doi.org/10.1023/a%3A1008149106536
• Dowd, K. (2000). Accounting for Value at Risk. Journal of Risk Finance, 2(1), 51-58. https://doi.org/10.1108/eb022946
• Dowd, K. (2000). Adjusting for Risk: An Improved Sharpe Ratio. International Review of Economics and Finance, 9(3), 209-222. https://doi.org/10.1016/s1059-0560%2800%2900063-0
• Dowd, K. (2000). Are Free Markets the Cause of Financial Instability?. Critical Review, 14(1,200), 57-67. https://doi.org/10.1080/08913810008443547
• Dowd, K. (2000). Using Futures Prices to Control Inflation: Reply to Garrison and White. Journal of Money, Credit and Banking, 32(1), 142-145. https://doi.org/10.2307/2601096
• Dowd, D. A., & Harrison, B. (2000). The Gibson Paradox and the Gold Standard: Evidence from the United Kingdom, 1821-1913. Applied Economics Letters, 7(11), 711-713. https://doi.org/10.1080/135048500421322
• Doed, K. (2000). Estimating Value-at-Risk: A Subjective Approach. Journal of Risk Finance, 1(4), 43-46. https://doi.org/10.1108/eb043454
• Dowd, K. (1999). A VAR Approach to Risk-Return Analysis. Journal of portfolio management, 25(4), 60-67. https://doi.org/10.3905/jpm.1999.319755
• Dowd, K., & Hinchliffe, J. (1999). A Free Retail Investment Market?. Economic Affairs, 19(2), 45-47
• Dowd, K. (1999). Too Big to Fail? Long-Term Capital Management and the Federal Reserve
• Dowd, K. (1999). Financial Risk Management. Financial Analysts Journal, 55(4), 65-71. https://doi.org/10.2469/faj.v55.n4.2286
• Dowd, K. (1999). An Almost Ideal Monetary Rule
• Dowd, K. (1999). Does Asymmetric Information Justify Bank Capital Adequacy Regulation
• Dowd, K. (1998). Monetary Policy in the 21st Century: An Impossible Task
• Dowd, K. (1998). Free Banking More Relevant than Ever
• Dowd, K., & Hinchliffe, J. (1998). Independence - No Way!
• Chappell, D., & Dowd, K. (1997). A Simple Model of the Gold Standard. Journal of Money, Credit and Banking, 29(1), 94-105. https://doi.org/10.2307/2953688
• Dowd, K. (1997). The regulation of bank capital adequacy. Advances in Austrian economics, 4, 95-110. https://doi.org/10.1016/s1529-2134%2897%2904007-6
• Dowd, K. (1996). Should the Bank of England be Abolished?
• Dowd, K. (1996). Some Unpleasant Budgetary Arithmetic of a Proposal to End Inflation A Reply. The Economic Journal, 106(436), 635-636. https://doi.org/10.2307/2235569
• Dowd, K. (1996). The Case for Financial Laissez-Faire. The Economic Journal, 106(436), 679-687
• Dowd, K. (1996). The Analytics of Bimetallism. Manchester School, 64(3), 281-297. https://doi.org/10.1111/j.1467-9957.1996.tb00486.x
• Dowd, K. (1995). A Rule to Stabilize the Price Level
• Dowd, K. (1995). The Mechanics of Indirect Convertibility. Journal of Money, Credit and Banking, 27(1), 67-88
• Dowd, K. (1995). The Damage Inflation Does
• Dowd, K. (1995). Deflating the Productivity Norm. Journal of Macroeconomics, 17(4), 717-732. https://doi.org/10.1016/0164-0704%2895%2980091-3
• Dowd, K. (1995). Central Bank Independence and Inflation: An Alternative View
• Baker, S., & Dowd, K. (1994). The New Zealand Monetary Policy Experiment: A Preliminary Assessment. World Economy, 17(6), 855-867
• Dowd, K. (1994). The Political Economy of Central Banking. Critical Review, 8(1), 49-60. https://doi.org/10.1080/08913819408443323
• Dowd, K. (1994). Competitive Banking Bankers' Clubs and Bank Regulation. Journal of Money, Credit and Banking, 26(2), 289-308. https://doi.org/10.2307/2077910
• Dowd, K. (1994). The Costs of Inflation and Disinflation
• Dowd, K. (1994). An Imperfect Union: the Maastsricht Treaty Could Not Deceive the Markets
• Dowd, K. (1993). Free Banking
• Dowd, K., & Greenaway, D. (1993). A Single Currency for Europe?
• Dowd, K. (1993). Re-examining the Case for Government Deposit Insurance. Southern Economic Journal, 59(3), 363-370
• Dowd, K. (1993). Deposit Insurance: A Skeptical View
• Dowd, K., & Sampson, A. (1993). The Gold Standard, Gibson's Paradox and the Gold Stock. Journal of Macroeconomics, 15(4), 653-659. https://doi.org/10.1016/s0164-0704%2805%2980003-5
• Dowd, K. (1993). A Reply to Schnadt and Whittaker. Southern Economic Journal, 60(2), 501-504
• Dowd, K., & Sampson, A. (1993). A New Model of the Gold Standard. Canadian Journal of Economics, 26(2), 380-391. https://doi.org/10.2307/135915
• Dowd, K., & Greenaway, D. (1993). Currency Competition, Network Externalities and Switching Costs: Towards an Alternative View of Optimal Currency Areas. The Economic Journal, 103(420), 1180-1189. https://doi.org/10.2307/2234244
• Dowd, K. (1993). Eruopean Monetary Reform: The Pitfalls of Central Planning
• Dowd, K. (1993). Money and the Market: What Role for Government?
• Dowd, K. (1992). The Monetary Economics of Henry Meulen. Journal of Money, Credit and Banking, 24, 173-183. https://doi.org/10.2307/1992734
• Dowd, K. (1992). Is Banking a Natural Monopoly?. Kyklos, 45(3), 379-392
• Dowd, K. (1992). Consumer Demand, "Full Income", and Real Wages. Empirical Economics, 17(3), 333-345. https://doi.org/10.1007/bf01206297
• Dowd, K. (1992). The Demand for Non-Durable Goods and Endogenous Labour Supply. Applied Economics, 24, 1199-1202. https://doi.org/10.1080/00036849200000129
• Dowd, K. (1992). Models of Banking Instability: A Partial Review of the Literature. Journal of Economic Surveys, 6(2), 107-132. https://doi.org/10.1111/j.1467-6419.1992.tb00147
• Dowd, K. (1991). Which Way for Euro-Money Reform?. Economic Affairs, 11(5), 29-31. https://doi.org/10.1111/j.1468-0270.1991.tb00816.x
• Dowd, K. (1991). Evaluating the Hard Ecu. World Economy, 14(2), 215-225. https://doi.org/10.1111/j.1467-9701.1991.tb00497.x
• Dowd, K. (1991). Option Clauses and Banknote Suspension
• Dowd, K. (1991). A Note on the Demand for Non-Durable Goods. Journal of Macroeconomics, 13(3), 543-551. https://doi.org/10.1016/0164-0704%2891%2990010-r
• Dowd, K. (1991). Sechrest on Scottish Free Banking
• Dowd, K. (1991). Financial Instability in a "Directly Convertible" Gold Standard. Southern Economic Journal, 57, 719-726
• Dowd, K. (1990). A European Central Bank?
• Dowd, K. (1990). Ending Australia's Inflation : Th Need for Radical Monetary Reform
• Dowd, K. (1990). The Value of Time Hypothesis and the Demand for Money: Some Evidence for the UK. Applied Economics, 22(5), 599-603. https://doi.org/10.1080/00036849000000093
• Dowd, K. (1990). Does Europe Need a Federal Reserve System?
• Dowd, K. (1990). The Value of Time and the Transactions Demand for Money. Journal of Money, Credit and Banking, 22(5), 599-603. https://doi.org/10.2307/1992127
• Dowd, K. (1990). The Case for Free Banking. Economic Affairs, 10(6), 15-17
• Dowd, K. (1990). Did Central Banks Evolve Naturally? A Review Essay of Charles Goodhart's The Evolution of Central Banks. Scottish Journal of Political Economy, 37(1), 96-104. https://doi.org/10.1111/j.1467-9485.1990.tb00575.x
• Chrystal, K. A., & Dowd, K. (1989). Disaggregate Supply: Evidence for the UK. Applied Economics, 21(10), 1397-1409. https://doi.org/10.1080/758522332
• Kaufman, G. (., & Dowd, K. (1989). Some Lessons from the Recent Canadian Bank Failures
• Dowd, K. (1989). How to End European Inflation: A Proposal to Deal with the Controversy Surrounding British Membership of the Exchange Rate Mechanism of the EMS
• Chappell, D. A., & Dowd, K. (1989). A Simple Model of Macroeconomic Policy. Economic Modelling, 6(4), 447-451. https://doi.org/10.1016/0264-9993%2889%2990020-5
• Dowd, K. (1989). The Case Against a European Central Bank. World Economy, 12(3), 361-372. https://doi.org/10.1111/j.1467-9701.1989.tb00786.x
• Dowd, K. (1988). Automatic Stabilizing Mechanisms Under Free Banking
• Dowd, K. (1988). Option Clauses and the Stability of a Laisser Faire Monetary System. Journal of Financial Services Research, 1(4), 319-333
• Chrystal, K. A., & Dowd, K. (1987). Would a Higher Fiscal Deficit Stimulate the Economy?. Fiscal Studies: The Journal of Applied Public Economics, 8(1), 17-23. https://doi.org/10.1111/j.1475-5890.1987.tb00431.x

Newspaper/Magazine Article

• Alexander, J., Beenstock, M., Booth, P., Butler, E., Congdon, T., Copeland, L., …Wood, G. (2009). The Government's Second Bail-Out is a Poor Way Government Failure Caused the Financial Crisis to Save the Banking System
• Dowd, K. (2009). The Government's Second Bail-Out is a Poor Way to Save the Banking System
• Dowd, K., Lilico, A., Greenwood, J., Jeffrey, R., Lea, R., Williams, T., …Spencer, P. (2008). Keynesian Over-spending Won't Rescue the Economy
• Blake, D., Cairns, A., & Dowd, K. (2008). One day Pensions Will Be Properly Planned
• Dowd, K. (2007). Northern Rock Managers like Captain of Titanic
• Dowd, K. (2007). Better to Have Thrown Northern Rock to the Wolves

Report

• Dowd, K. No Stress: The Flaws in the Bank of England’s Stress Testing Programme. [No known commissioning body]
• Dowd, K. Killing the Cash Cow: Why Andy Haldane is Wrong about Demonetisation. [No known commissioning body]
• Dowd, K. No Stress II: The Flaws in the Bank of England’s Stress Testing Programme. [No known commissioning body]
• Dowd, K. (2017). No Stress III: The Flaws in the Bank of England's 2016 Stress Tests. [No known commissioning body]
• Dowd, K. (2014). New Private Monies: A Bit-Part Player?. [No known commissioning body]
• Harrison, D., Blake, D., & Dowd, K. (2014). VfM: Assessing value for money in defined contribution default funds. [No known commissioning body]
• Woods, M., & Dowd, K. (2008). Financial Risk Management for Management Accountants. [No known commissioning body]