Dr Yifei Cai

Research Interests

Applied Economics Time-Series Analysis International political economy (excl. international trade) Air passenger transport Environment and Resource Economics

Teaching Strengths

Aviation Economics and Management
International Political Economy
Research Method
Economics
Econometrics

Dr Yifei Cai

Lecturer, Aviation

School of Electrical and Mechanical Engineering

College of Engineering and Information Technology

Eligible to supervise Masters and PhD (as Co-Supervisor) - email supervisor to discuss availability.

Available For Media Comment.

Dr. Yifei Cai serves as a Senior lecturer specializing in aviation economics and finance, international relations and political shocks, time series econometrics, applied macroeconomics, and sustainability. I am actively seeking to supervise PhD students who share an interest in above fields. Several of my recent publications have been featured in prestigious academic journals, including Energy Economics, Scottish Journal of Political Economy, Economics Letters, China Economic Review, World Economy, Transport Policy, Annals of Operations Research, Technological Forecasting and Social Change, Journal of Environmental Management, Empirical Economics, Finance Research Letters, International Review of Economics and Finance, Applied Economics, and more. 
Awards:
I’m pleased to share that my research titled “Political Relations and Trade: New Evidence from Australia, China and the United States” has been awarded the 2024 Adam Smith Best Paper Award by the Scottish Economic Society. This work is a collaboration with Professor Jamel Saadaoui (Université Paris VIII) and Professor Yanrui Wu (University of Western Australia). You may find the paper here: https://onlinelibrary.wiley.com/doi/10.1111/sjpe.12367.
Recent Publications Updates:
1. I'm delighted to share that my solo-authored paper has been published in Economics Letters (ABDC: A). You can access the publication here: https://www.sciencedirect.com/science/article/pii/S016517652500120X. 

Updates on recent publications:

1. Cai, Y., Saadaoui, J., & Uddin, G. S. (2025). US partisan conflict, Sino-US political relation news, and oil market dynamics. Energy Economics, 108820.

2. The Contribution of Political Shocks to Total Spillovers in Semiconductor Industry, with Yahua Zhang, Xiaowen Fu, Jialin Yang, submit to China Economic Review. 

Updates on revision request:

1. Evaluating the Impacts of Joint Shocks of Climate Risks, Global Supply Chains, Global Real Economic Activity and Geopolitical Risks on Commodity Price, with Jialin Zhang, Yahua Zhang, Xiaowen Fu, and Lei Xu, re-submit to World Economy. 

2. The Role of Oil Price Uncertainty Shocks in US Personal Consumption Expenditure, with Marco Chikeung Lau and Nicolas Apergis, re-submit to Humanities and Social Sciences Communications.

3. Evaluating the Effects of Sino-US Political Relations Shocks on Commodity Prices, with Dimitrios Bakas, submit to International Review of Economics and Finance.

Date Position Institution name
2026 - ongoing Senior Lecturer Adelaide University
2024 - 2025 Lecturer University of South Australia
2022 - 2023 Lecturer Teesside University
2021 - 2022 Assistant Professor Macau University of Science and Technology

Date Type Title Institution Name Country Amount
2025 Research Award 2024 SJPE Best Paper Award Scottish Economic Society United Kingdom -

Language Competency
Chinese (Mandarin) Can read, write, speak, understand spoken and peer review
English Can read, write, speak, understand spoken and peer review

Date Institution name Country Title
2017 - 2021 University of Western Australia Australia Ph.D.

Year Citation
2025 Cai, Y., Zhang, Y., & Xu, Y. (2025). Assessing the influence of unplanned oil supply outages on airline stock connectedness. ENERGY ECONOMICS, 141(108145), 12 pages.
DOI Scopus2 WoS2
2025 Cai, Y., Zhang, Y., & Zhang, A. (2025). Oil price shocks and airlines stock return and volatility - A GFEVD analysis. Economics of Transportation, 41(100396), 1-12.
DOI Scopus8 WoS5
2025 Cai, Y., Fu, X., & Zhang, Y. (2025). Geopolitical risks and airlines stock return - Implications to the financial stability of European airlines. Transport Policy, 170, 51-57.
DOI Scopus2 WoS3
2025 Xu, S., Cai, Y., Zhang, Y., & Wang, C. (2025). Time-varying interactions between US-China political relation, flight frequency, and inbound tourism. Economics & Politics, online(3), 1-12.
DOI Scopus1 WoS1
2025 Cai, Y., Shen, Y., & Uddin, G. S. (2025). Financial conditions and Sino-US tensions: a granger causality analysis of diverging financial condition indicators. Finance Research Letters, 79(107199), 1-6.
DOI Scopus3 WoS2
2025 Cai, Y. (2025). US-China tensions, global supply chains pressure, and global economy. Economics Letters, 250(112283), 1-6.
DOI Scopus10 WoS6
2025 Cai, Y., & Saadaoui, J. (2025). US-China tensions, US partisan conflict, and global oil prices: scapegoating?. Applied Economics Letters, online, 1-10.
DOI Scopus2 WoS1
2025 Shen, Y., Cui, X., Zhu, Y., & Cai, Y. (2025). The causal dynamics between geopolitical risks, climate risks, and Global ESG Equity & Green Bond Balanced Index. Finance Research Letters, 85(107775), 1-8.
DOI Scopus5 WoS7
2025 Yi, X., Shen, Y., & Cai, Y. (2025). Cryptocurrency meets U.S. trade policy uncertainty in the Trump era: a quantile Granger causality test. Finance Research Letters, 85(107999), 1-9.
DOI Scopus2 WoS2
2025 Cai, Y., Saadaoui, J., & Uddin, G. S. (2025). US partisan conflict, Sino-US political relation news, and oil market dynamics☆,☆☆. Energy Economics, 149(108820), 1-17.
DOI Scopus1 WoS1
2025 Li, Z., Shen, Y., & Cai, Y. (2025). Global supply chain pressure and shipping stocks: some causal evidence. Oeconomia Copernicana, 16(1), 190-203.
2024 Cai, Y., Wang, M. C., & Chang, T. (2024). Sino-Japan political relation and bilateral trade-a cross-quantilogram approach. Applied Economics Letters, online(17), 1-9.
DOI Scopus1
2024 Cai, Y., Wu, Y., & Chang, T. (2024). POLITICAL RELATIONS AND BILATERAL TRADE: EVIDENCE FROM CHINA AND TRADING PARTNERS. Romanian Journal of Economic Forecasting, 27(1), 119-128.
2024 Cai, Y., Zhang, Y., Wu, Y., & Chang, T. (2024). Airline stock market performance and political relations: a cross-quantilogram analysis of Chinese and US carriers. Transport Policy, 155, 124-149.
DOI Scopus7 WoS8
2024 Cai, Y., Zhang, Y., & Chang, T. (2024). Dependence structure between energy uncertainty index and airlines stocks returns and volatility: a short communication. Transport Economics and Management, 2, 302-309.
DOI Scopus1
2024 Cai, Y., Li, X., & Zhang, Y. (2024). Oil market responses to Sino-European political relation shock: insights after China's world trade organization accession. Economic Modelling, 141(106907), 1-13.
DOI Scopus3 WoS3
2024 Xu, S., Shen, R., Zhang, Y., & Cai, Y. (2024). Fostering regional innovation efficiency through pilot free trade zones: evidence from China. Economic Analysis and Policy, 81, 356-367.
DOI Scopus21 WoS27
2024 Saadaoui, J., Lau, C. K. M., & Cai, Y. (2024). Testing fiscal sustainability in OECD countries: new evidence from the past centuries. Applied Economics Letters, 31(7), 676-682.
DOI Scopus2
2024 Cai, Y., Chang, H. W., Chang, T., Țăran, A. M., & Pirtea, M. (2024). Time-varying causal impacts of the continental US weather risks on food price. Applied Economics Letters, 31(14), 1298-1304.
DOI Scopus2
2023 Cai, Y., Chang, H. W., Xiang, F., & Chang, T. (2023). Can precious metals hedge the risks of Sino-US political relation?-Evidence from Toda-Yamamoto causality test in quantiles. Finance Research Letters, 58(104327), 1-7.
DOI Scopus6
2023 Cai, Y., & Chang, T. (2023). On the convergence of metals price-a series of Fourier DF unit root tests. Applied Economics Letters, 30(17), 2450-2454.
DOI Scopus1
2023 Cai, Y., Chang, H. W., & Chang, T. (2023). Evaluating time-varying granger causality between US-China political relation changes and China stock market. Finance Research Letters, 55(103918), 1-6.
DOI Scopus13
2023 Soliman, A. M., Lau, C. K., Cai, Y., Sarker, P. K., & Dastgir, S. (2023). Asymmetric effects of energy inflation, agri-inflation and CPI on agricultural output: evidence from NARDL and SVAR models for the UK. Energy Economics, 126(106920), 1-13.
DOI Scopus28
2023 Liu, X., Wojewodzki, M., Cai, Y., & Sharma, S. (2023). The dynamic relationships between carbon prices and policy uncertainties. Technological Forecasting and Social Change, 188(122325), 1-11.
DOI Scopus55
2023 Schneider, N., & Cai, Y. (2023). Quantile integration order of decarbonized energy series using a Fourier function in the deterministic trend. Energy and Climate Change, 4(100105), 1-17.
DOI Scopus3
2023 Cai, Y., Saadaoui, J., & Wu, Y. (2023). Political relations and trade: new evidence from Australia, China, and the United States. Scottish Journal of Political Economy, 71(3), 253-275.
DOI Scopus10 WoS8
2023 Zhang, D., Chen, X. H., Lau, C. K. M., & Cai, Y. (2023). The causal relationship between green finance and geopolitical risk: Implications for environmental management. Journal of Environmental Management, 327(116949), 1-25.
DOI Scopus117 Europe PMC32
2023 Lau, C. K., Cai, Y., & Gozgor, G. (2023). How do weather risks in Canada and the United States affect global commodity prices? Implications for the decarbonisation process. Annals of Operations Research, online(2), 1-17.
DOI Scopus9 WoS6
2023 Churchill, S. A., Cai, Y., Erdiaw Kwasie, M. O., & Pan, L. (2023). Financial development and tourism: a century of evidence from Germany. Applied Economics, 55(3), 305-318.
DOI Scopus8
2022 Cai, Y., & Saadaoui, J. (2022). Fourier DF unit root test for R&D intensity of G7 countries. Applied Economics, 54(42), 4900-4914.
DOI Scopus3
2022 Yang, H. C., Cai, Y. F., & Zhang, M. Y. (2022). Political risk and green technology improvement: New insights from global evidence. Innovation and Green Development, 1(1), 100004.
DOI Scopus32
2022 Cai, Y., Mignon, V., & Saadaoui, J. (2022). Not all political relation shocks are alike: assessing the impacts of US-China tensions on the oil market. Energy Economics, 114(106199), 1-10.
DOI Scopus34
2022 Cai, Y., & Omay, T. (2022). Using double frequency in fourier dickey-fuller unit root test. Computational Economics, 59(2), 445-470.
DOI Scopus12
2022 Cai, Y., Zhang, D., Chang, T., & Lee, C. C. (2022). Macroeconomic outcomes of OPEC and non-OPEC oil supply shocks in the euro area. Energy Economics, 109(105975), 1-16.
DOI Scopus64
2021 Cai, Y., & Menegaki, A. (2021). FDI, growth and trade partisan conflict in the US: TVP-BVAR approach. Empirical Economics, 60(3), 1335-1362.
DOI Scopus3
2021 Cai, Y., & Wu, Y. (2021). Time-varying interactions between geopolitical risks and renewable energy consumption. International Review of Economics and Finance, 74, 116-137.
DOI Scopus106
2021 Dong, H., Cai, Y., & Shi, X. (2021). Does globalisation promote economic output in Sub-Saharan Africa? Evidence from bootstrap ARDL model. Journal of Asian and African Studies, 56(8), 1795-1818.
DOI
2021 Cai, Y., & Wu, Y. (2021). Understanding gas pricing mechanisms: implications for the Asian market. Australasian Journal of Environmental Management, 28(4), 373-390.
DOI Scopus3
2019 Jiang, Y., Cai, Y., Peng, Y. T., & Chang, T. (2019). Testing hysteresis in unemployment in G7 vountries using quantile unit root test with both sharp shifts and smooth breaks. Social Indicators Research, 142(3), 1211-1229.
DOI Scopus10
2019 Cai, Y., & Wu, Y. (2019). Time-varied causality between US partisan conflict shock and crude oil return. Energy Economics, 84(104512), 1-9.
DOI Scopus15
2019 Cai, Y., & Menegaki, A. N. (2019). Convergence of clean energy consumption-panel unit root test with sharp and smooth breaks. Environmental Science and Pollution Research, 26(18), 18790-18803.
DOI Scopus36 Europe PMC5
2019 Cai, Y., & Menegaki, A. N. (2019). Fourier quantile unit root test for the integrational properties of clean energy consumption in emerging economies. Energy Economics, 78, 324-334.
DOI Scopus32
2019 Cai, Y., & Magazzino, C. (2019). Are shocks to natural gas consumption transitory or permanent? A more powerful panel unit root test on the G7 countries. Natural Resources Forum: a united nations sustainable development journal, 43(2), 111-120.
DOI Scopus18
2019 Cai, Y., & Wu, Y. (2019). On the convergence of per capita carbon dioxide emission: a panel unit root test with sharp and smooth breaks. Environmental Science and Pollution Research, 26(36), 36658-36679.
DOI Scopus16 Europe PMC4
2019 Tiwari, A. K., Cai, Y., & Chang, T. (2019). Monetary shocks to macroeconomic variables in China using time-vary VAR model. Applied Economics Letters, 26(20), 1664-1669.
DOI Scopus4
2018 Xie, H., Cai, Y., Sam, C. Y., & Chang, T. (2018). Revisit financial development, trade openness and economic growth nexus in China using a new developed bootstrap ardl test. Economic Computation and Economic Cybernetics Studies and Research, 52(4), 131-144.
DOI Scopus4
2018 Cai, Y. (2018). Testing the Fisher Effect in the US. Economics Bulletin, 38(2), 1014-1027.
Scopus2
2018 Cai, Y., Sam, C. Y., & Chang, T. (2018). Nexus between clean energy consumption, economic growth and CO2 emissions. Journal of Cleaner Production, 182, 1001-1011.
DOI Scopus432
2018 Cai, Y. (2018). Predictive power of us monetary policy uncertainty shock on stock returns in Australia and New Zealand. Australian Economic Papers, 57(4), 470-488.
DOI Scopus10
2018 Cai, Y., Chang, T., & Inglesi Lotz, R. (2018). Asymmetric persistence in convergence for carbon dioxide emissions based on quantile unit root test with Fourier function. Energy, 161, 470-481.
DOI Scopus44
2017 Chang, T., Cai, Y., & Chen, W. Y. (2017). Are suicide rate fluctuations transitory or permanent? Panel KSS unit root test with a fourier function through the sequential panel selection method. Romanian Journal of Economic Forecasting, 20(3), 5-17.
Scopus5
  • Growing sustainable aviation fuel industries in combatting climate crises: opportunities for Australia and China, National Foundation for Australia-China Relations, 30/04/2024 - 06/04/2026

Courses I teach

  • AERO 2059 Aviation Economics (2025)
  • AERO 3013 Aviation Project 1 (2025)
  • AERO 2059 Aviation Economics (2024)
  • AERO 3013 Aviation Project 1 (2024)

Date Role Research Topic Program Degree Type Student Load Student Name
2024 Co-Supervisor How to Prepare for New Energy Aviation; Perspective of Infrastructure and Skill Development - Doctorate Full Time Miss Zahra Jaffary
2024 Co-Supervisor How to Prepare for New Energy Aviation; Perspective of Infrastructure and Skill Development Doctor of Philosophy Doctorate Full Time Miss Zahra Jaffary

Date Title Engagement Type Institution Country
2026 - ongoing What does the Australian dollar falling below 60 US cents mean? Public Community Engagement SBS Radio Mandarin -
2026 - ongoing Gold is likely to experience a volatile upward trend, with increasing investment difficulty Public Community Engagement SBS Radio Mandarin -
2025 - ongoing The imposition of a 10% U.S. tariff on Australia: minimal economic effects but increased perceived economic insecurity. Public Community Engagement SBS Radio Mandarin -
2025 - ongoing How might secondary tariffs affect the global economy? Public Community Engagement SBS Radio Mandarin -
2025 - ongoing Will the Sharp Decline of AUD Against RMB Trigger Another Wave of Chinese Property Buyers in Australia? Public Community Engagement SBS Mandarin -
2025 - ongoing What does the Ddecline of the Australian dollar mean for the economy? Public Community Engagement SBS Radio Mandarin -

Date Role Editorial Board Name Institution Country
2024 - ongoing Board Member Journal of Chinese Economic and Foreign Trade Studies N.A. Australia

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