33. Alves, J., & Menescal, S. (2025). Green Finance under Fire: Navigating Financial and Geopolitical Risk through Climate Adaptation Strategies. Finance Research Letters, 108132. https://doi.org/10.1016/j.frl.2025.108132
32. Alves, J., Jalles, J., & Menescal, S. (2025). When Austerity Pays Off: Fiscal Consolidations and Public Sector Efficiency in Emerging Markets. Journal of International Money and Finance, 157, 1-26. https://doi.org/10.1016/j.jimonfin.2025.103380
31. Afonso, A., Alves, J., Jalles, J., & Monteiro, S. (2025). Energy Price Dynamics in the Face of Uncertainty Shocks and the role of Exchange Rate Regimes: A Global Cross-Country Analysis. The Journal of Economic Asymmetries, 32, 1-19. https://doi.org/10.1016/j.jeca.2025.e00425
30. Afonso, A., Alves, J., & Ionta, S. (2025). Monetary policy surprises and fiscal sustainability: the case of the Euro Area. Economic Change and Restructuring, 58(3), 1-20. https://doi.org/10.1007/s10644-025-09881-4
29. Afonso, A., Alves, J., & Ionta, S. (2025). Monetary policy surprise shocks under different fiscal regimes: a panel analysis of the Euro Area. Journal of International Money and Finance, 156, 103341. https://doi.org/10.1016/j.jimonfin.2025.103341
28. Afonso, A., Alves, J., & Monteiro, A. (2025). Echoes of Instability: How Geopolitical Risks Shape Government Debt Holdings. Economic Change and Restructuring. 58(41), 1-28. https://doi.org/10.1007/s10644-025-09879-y
27. Alves, J., & Wagner, C. (2025). Leveraging interest-growth differentials: hidden effects of government financial assets in the European Union. Journal of Economics, Finance and Administrative Science. Forthcoming. https://doi.org/10.1108/JEFAS-03-2024-0090
26. Afonso, A., Alves, J., & Monteiro, S. (2024). Banks' portfolio of government debt and sovereign risk: From Safe Havens to Stormy Seas. Finance Research Letters, 70, 106277. https://doi.org/10.1016/j.frl.2024.106277
25. Afonso, A., Alves, J., Beck, K. & Jackson, K. (2024). Financial, institutional, and macroeconomic determinants of cross-country portfolio equity flows: the case of developed countries. Economic Modelling, 141, 106902. https://doi.org/10.1016/j.econmod.2024.106902
24. Afonso, A., Alves, J., Jalles, J. T. & Monteiro, S. (2024). Beyond the Centre: Tracing Decentralization’s Influence on Time-varying Fiscal Sustainability. International Review of Economics & Finance, 96(A), 103662. https://doi.org/10.1016/j.iref.2024.103662
23. Afonso, A., Alves, J., & Monteiro, S. (2024). Sovereign risk dynamics in the EU: the time varying relevance of fiscal and external (im)balances. Journal of International Financial Markets, Institutions & Money, 94, 102026. https://doi.org/10.1016/j.intfin.2024.102026
22. Afonso, A., Alves, J., & Beck, K. (2025). Drivers of Migration Flows in the European Union. Earnings or Unemployment? International Labour Review, 164(2), 1-23. https://doi.org/10.16995/ilr.18845
21. Afonso, A., Alves, J., & Monteiro, S. (2024). Beyond Borders: Assessing the Influence of Geopolitical Tensions on Sovereign Risk Dynamics. European Journal of Political Economy, 83, 102550. https://doi.org/10.1016/j.ejpoleco.2024.102550
20. Afonso, A., Alves, J., & Coelho, J. C. (2025). Determinants of the degree of fiscal sustainability. International Journal of Finance & Economics, 30(2), 1190-1205. https://doi.org/10.1002/ijfe.2960
19. Alves, J., & Coelho, J. C. (2024). Two-way relationship between inequality and growth within the fiscal policy channel: an empirical assessment for European countries. Journal of Economic Studies, 51(8), 1629-1646. https://doi.org/10.1108/JES-09-2023-0479
18. Alves, J., & Menescal, L. (2024). Optimal threshold taxation: an empirical investigation for developing economies. The Journal of Economic Asymmetries, 29, e00343. https://doi.org/10.1016/j.jeca.2023.e00343
17. Alves, A., & Morgado, S. (2024). Secular Stagnation: Is Immigration part of the solution? Journal of International Development, 36(2), 1426-1449. https://doi.org/10.1002/jid.3866
16. Afonso, A., & Alves, J. (2023). Does government spending efficiency improve fiscal sustainability? European Journal of Political Economy, 102403. https://doi.org/10.1016/j.ejpoleco.2023.102403
15. Alves, J., Coelho, J. C., & Couto, C. (2024). The Impact of Foreign Aid on Aggregate Welfare Measures: A Panel Data Analysis. Journal of the Knowledge Economy, 15, 1210-1230. https://doi.org/10.1007/s13132-023-01119-w
14. Afonso, A., Alves, J., & Jalles, J. (2022). To consolidate or not to consolidate? A multi-step analysis to assess needed fiscal sustainability. International Economics, 72, 106-123. https://doi.org/10.1016/j.inteco.2022.09.005
13. Afonso, A., & Alves, J. (2022). Are fiscal consolidation episodes helpful for public sector efficiency? Applied Economics, 55(31), 3547-3560. https://doi.org/10.1080/00036846.2022.2115455
12. Afonso, A., Alves, J., & Jalles, J. (2022). The (non-)Keynesian effects of fiscal austerity: New evidence from a large sample. Economic Systems, 46(2), 100981. https://doi.org/10.1016/j.ecosys.2022.100981
11. Afonso, A. Alves, J., & Jalles, J. T. (2021). Fiscal Reaction Functions in the EU: A tale of “r-g” and whether it matters. Revue française d' économie, XXXVI(3), 65-101. https://doi.org/10.3917/rfe.213.0065
10. Alves, J. (2021). The sinful side of taxation: is it possible to satisfy the government hunger for revenues while promoting economic growth? Hacienda Pública Española/Review of Public Economics, 237-(2/2021), 85-109. https://doi.org/10.7866/HPE-RPE.21.2.4
9. Alves, J., & Silva, T. (2021). An Empirical Assessment of Monetary Policy Channels in Income and Wealth Disparities. Comparative Economic Studies, 63, 432-449. https://doi.org/10.1057/s41294-021-00149-0
8. Alves, J., & Pereira, R. (2020). The indebtedness of households up until the economic adjustment programme for Portugal: an empirical assessment. Public Sector Economics, 44(4), 529-550. https://doi.org/10.3326/pse.44.4.5
7. Alves, J. (2019). The impact of tax structure on investment: an empirical assessment for OECD countries. Public Sector Economics, 43(3), 291-309. https://doi.org/10.3326/pse.43.3.4
6. Afonso, A., & Alves, J. (2019). Tax Structure for Consumption and Income Inequality: an Empirical Assessment. SERIEs – Journal of the Spanish Economic Association, 10(3), 337-364. https://doi.org/10.1007/s13209-019-00202-3
5. Afonso, A., Alves, J., & Balhote, R. (2019). Interactions between Monetary and Fiscal Policies. Journal of Applied Economics, 22(1), 131-150. https://doi.org/10.1080/15140326.2019.1583309
4. Afonso, A, & Alves, J. (2019). Short and Long-Term Interest Rate Risk: The Sovereign Balance-Sheet Nexus. Finance Research Letters, 31, 294-299. https://doi.org/10.1016/j.frl.2018.11.014
3. Alves, J., Craveiro, D., Garcia, M. T., & Albuquerque, P. (2019). The Impact Of International Migration On The Public Pension System - The Case of Portugal. International Social Security Review, 72(1), 107-128. https://doi.org/10.1111/issr.12197
2. Afonso, A., & Alves, J. (2016). Reconsidering Wagner's Law: evidence from the functions of the government. Applied Economics Letters, 24(5), 1-5. http://dx.doi.org/10.1080/13504851.2016.1192267
1. Afonso, A., & Alves, J. (2015). The Role of Government Debt in Economic Growth. Hacienda Pública Española/Review of Public Economics, 215-(4/2015), 9-26. http://dx.doi.org/10.7866/HPE-RPE.15.4.1