Centre for Dynamic Macroeconomic Analysis
The Centre for Dynamic Macroeconomic Analysis was established in 2003, and facilitates a programme of research centred on macroeconomic theory and policy. The Centre is currently engaged in a number of specific research projects and, in general, aims to foster research in the following broad areas: characterising the key stylised facts of the business cycle; constructing theoretical models that can match these business cycles; using theoretical models to understand the normative and positive aspects of the macroeconomic policymakers' stabilisation problem, in both open and closed economies; understanding the conduct of monetary/macroeconomic policy in the UK and other countries; analyzing the impact of globalization and policy reform on the macroeconomy; and analyzing the impact of financial factors on the long-run growth of the UK economy, from both an historical and a theoretical perspective. The Centre also has interests in developing numerical techniques for analyzing dynamic stochastic general equilibrium models.
For more information please visit the Centre for Dynamic Macroeconomic Analysis home page.
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(2017-09-27) - Working or discussion paperExisting empirical studies do not concur on whether R&D spending is procyclical or countercyclical: the former hypothesis is supported by studies of aggregate R&D spending, whereas the latter is vindicated by firm-level ...
(2017-09-27) - Working or discussion paperThe hypothesis of a hump-shaped relationship between innovation and competition due to Aghion, Bloom, Blundell, Griffith, and Howitt (2005), has been tested for different data sets without garnering conclusive support. In ...
(2012-03) - Working or discussion paperA social network of stock trading is defined for the notorious South Sea Bubble. Complete market trade in East India Company and Bank of England shares is described in a flow network. Intermediation is treated as a form ...