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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Indecisiveness, undesirability and overload revealed through rational choice deferral
(2018-09) - Journal articleThree reasons why decision makers may defer choice are indecisiveness between various feasible options, unattractiveness of these options, and choice overload. This paper provides a choice-theoretic explanation for each ... -
A financial accelerator through coordination failure
(University of St Andrews, 2019-01-31) - Working or discussion paperThis paper studies the effect of liquidity crises in short-term debt markets in a dynamic general equilibrium framework. Creditors (retail banks) receive imperfect signals regarding the profitability of borrowers (wholesale ... -
Social groups and credit shocks : evidence of inequalities in consumption smoothing
(University of St Andrews, 2019-01-31) - Working or discussion paperA strand of research holds the view that restricting access to credit to regulate over-borrowing can worsen consumers’ financial condition. Another strand of research holds the view that access to credit in the developing ... -
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 ... -
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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