Economics & Finance
Our research strengths are in dynamic macroeconomics, choice theory, bounded rationality, game theory, expectations and learning, competition and innovation and climate change. We support two research centres - the Centre for Dynamic Macroeconomic Analysis (CDMA) and the Centre for Research in Industry, Enterprise, Finance and the Firm (CRIEFF), and we are also actively involved in the Scottish Institute for Research in Economics (SIRE).
For more information please visit the School of Economics & Finance home page.
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Recent Submissions
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Nuclear power plant closures and local housing values : evidence from Fukushima and the German housing market
(2017-05) - Journal articleThe Fukushima Daiichi accident in Japan in March 2011 caused a fundamental change in Germany’s energy policy which led to the immediate shut down of nearly half of its nuclear power plants. Using data from Germany’s largest ... -
Preference intensity representation and revelation
(University of St Andrews, 2018-12-30) - Working or discussion paperThis paper introduces preference intensity functions -an extension of (neo)classical cardinal utility functions- and characterizes by means of three simple standard axioms the class of basic preference intensity orderings ... -
Information disclosure and asymmetric speed of learning in booms and busts
(2017-09) - Journal articleWe consider a model in which agents gradually learn about the aggregate market conditions — ‘boom’ or ‘bust’ — from the information disclosed after a trading round. The disclosure rules can generate asymmetric learning and ... -
Valuation risk revalued
(University of St Andrews, 2018-12-17) - Working or discussion paperThis paper shows the recent success of valuation risk (time-preference shocks in Epstein- Zin utility) in resolving asset pricing puzzles rests sensitively on an undesirable asymptote that occurs because the preference ... -
The transmission of inequality across multiple generations : testing recent theories with evidence from Germany
(2018-03-02) - Journal articleThis paper shows that across multiple generations, the persistence of occupational and educational attainment in Germany is larger than estimates from two generations suggest. We consider two recent interpretations. First, ...
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