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.

Recent Submissions

  • Fiscal policy multipliers in an RBC model with learning 

    Mitra, Kaushik; Evans, George William; Honkapohja, Seppo (2016-09-20) - Journal article
    Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers ...
  • Meritocracy, egalitarianism and the stability of majoritarian organizations 

    Barberà, Salvador; Beviá, Carmen; Ponsatí, Clara (2015-05) - Journal article
    Egalitarianism and meritocracy are competing principles to distribute the joint benefits of cooperation. We examine the consequences of letting members of society vote between those two principles, in a context where ...
  • Velocity in the long run : money and structural transformation 

    Mele, Antonio; Stefanski, Radoslaw (Radek) (University of St Andrews, 2016-07-28) - Working or discussion paper
    Monetary velocity declines as economies grow. We argue that this is due to the process of structural transformation - the shift of workers from agricultural to non-agricultural production associated with rising income. A ...
  • Nominal Stability and Financial Globalization 

    Devereux, Michael B.; Senay, Ozge; Sutherland, Alan (2014-08) - Journal article
    Over the past four decades, there has been a substantial increase in financial globalization, that is, rapid growth in gross external portfolio positions. There has also been a substantial fall in the variability of ...
  • Legal uncertainty, competition law enforcement procedures and optimal penalties 

    Katsoulacos, Yannis; Ulph, David Tregear (2015) - Journal article
    In this paper we make three contributions to the literature on optimal Competition Law enforcement procedures. A first contribution, of more general interest, is to formalise the concept of “legal uncertainty”, relying on ...

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