Professor Charles Nolan

  • Bonar MacFie Chair in Economics (Economics)

Research interests

Research interests

Macroeconomics, Theory, Fiscal policy, Monetary policy, Financial aspects of business cycles

Biography

Charles was educated at the University of Strathclyde and Birkbeck College, University of London. He worked for eight years as an economist at the Bank of England, has taught at the University of Reading and was a Reader in Economics at the University of Durham. Prior to joining the University of Glasgow in 2010, he was a Professor of Economics at the University of St Andrews.

Supervision

Current PhD students

Ngozi Nwafor

Thesis title: Asset price bubbles and monetary policy.
Co-supervisor: Alexandros Kontonikas

Alfred Duncan

Thesis title: Private information, contracting and business cycles.
Co-supervisor: Professor Campbell Leith 

Ding Liu

Thesis title: The excessive money puzzle in China.
Co-supervisor: Professor Campbell Leith

Marco Lorusso

Thesis title: Marco is analysing the effects of oil price movements. In particular, he is focussing on a small oil-exporting economy and the implications for fiscal and monetary policy.
Co-supervisor: Dr John Tsoukalas

Zivile Zekaite

Thesis title: Monetary Policy and Financial Frictions: linear and non-linear reactions to financial stress. Co-supervisor: Dr Alexandros Kontonikas

Teaching

Postgraduate: International Macroeconomics and Policy; Public Finance

Additional information

Work in progress

'Banking in macroeconomic models'

'Heterogeneous agent macro models'

'Endogenous Exchange Costs'

Publications

List by: Type | Date

Jump to: 2015 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2004 | 2003 | 2002 | 2001 | 1998 | 1997 | 1996
Number of items: 29.

2015

Damjanovic, T., Damjanovic, V., and Nolan, C. (2015) Ordering Policy Rules with an Unconditional Welfare Measure. International Journal of Central Banking, 11(1). pp. 103-149.

2012

Damjanovic, V., and Nolan, C. (2012) S,s pricing in a dynamic equilibrium model with heterogeneous sectors. Journal of Economic Dynamics and Control, 36(4). pp. 550-567. (doi:10.1016/j.jedc.2011.11.009)

2011

Damjanovic, T., and Nolan, C. (2011) Second-order approximation to the Rotemberg model around a distorted steady state. Economics Letters, 110(2). pp. 132-135. (doi:10.1016/j.econlet.2010.11.010)

2010

Damjanovic, T., and Nolan, C. (2010) Relative price distortions and inflation persistence. Economic Journal, 120(547). pp. 1080-1099. (doi:10.1111/j.1468-0297.2009.02329.x)

Damjanovic, T., and Nolan, C. (2010) Seigniorage-maximizing inflation under sticky prices. Journal of Money, Credit and Banking, 42(2-3). pp. 503-519. (doi:10.1111/j.1538-4616.2009.00297.x)

2009

Nolan, C., and Thoenissen, C. (2009) Financial shocks and the US business cycle. Journal of Monetary Economics, 56(4). pp. 596-604. (doi:10.1016/j.jmoneco.2009.03.007)

2008

Nolan, C., and Thoenissen, C. (2008) Labour markets and firm-specific capital in New Keynesian general equilibrium models. Journal of Macroeconomics, 30(3). pp. 817-843. (doi:10.1016/j.jmacro.2007.02.002)

Damjanovic, T., Damjanovic, V., and Nolan, C. (2008) Unconditionally optimal monetary policy. Journal of Monetary Economics, 55(3). pp. 491-500. (doi:10.1016/j.jmoneco.2008.01.003)

2007

Chadha, J. S., and Nolan, C. (2007) Optimal simple rules for the conduct of monetary and fiscal policy. Journal of Macroeconomics, 29(4). pp. 665-689. (doi:10.1016/j.jmacro.2005.01.005)

Ghosh, S., and Nolan, C. (2007) The impact of simple fiscal rules in growth models with public goods and congestion. Manchester School, 75(5). pp. 634-651. (doi:10.1111/j.1467-9957.2007.01034.x)

Chadha, J. S., Macmillan, P., and Nolan, C. (2007) Independence day for the 'old lady': a natural experiment on the implications of central bank independence. Manchester School, 75(3). pp. 311-327. (doi:10.1111/j.1467-9957.2007.01019.x)

2006

Damjanovic, V., and Nolan, C. (2006) Aggregation and optimization with state-dependent pricing: a comment. Econometrica, 74(2). pp. 565-573. (doi:10.1111/j.1468-0262.2006.00672.x)

Damjanovic, T., and Nolan, C. (2006) Some welfare implications of optimal stabilisation policy in an economy with capital and sticky prices. Scottish Journal of Political Economy, 53(1). pp. 47-71. (doi:10.1111/j.1467-9485.2006.00370.x)

Nicolae, A., and Nolan, C. (2006) The impact of imperfect credibility in a transition to price stability. Journal of Money, Credit and Banking, 38(1). pp. 47-66. (doi:10.1353/mcb.2006.0022)

2004

Chadha, J.S., and Nolan, C. (2004) Interest rate bounds and fiscal policy. Economics Letters, 84(1). pp. 9-15. (doi:10.1016/j.econlet.2003.12.001)

Chadha, J. S., and Nolan, C. (2004) Output, inflation and the New Keynesian Phillips Curve. International Review of Applied Economics, 18(3). pp. 271-287. (doi:10.1080/0269217042000227060)

Chadha, J. S., and Nolan, C. (2004) The interaction of monetary and fiscal policy: solvency and stabilisation issues. In: Minford, P. (ed.) Money Matters: Essays in Honour of Alan Walters. Edward Elgar: Cheltenham, pp. 169-210. ISBN 9781843764434

2003

Chadha, J. S., Muscatelli, V. A., and Nolan, C. (2003) 'Policy rules-the next steps'-Scottish Journal of Political Economy Special Issue. Scottish Journal of Political Economy, 50(5). i-iii. (doi:10.1111/j.0036-9292.2003.05005007.x)

Nolan, C., Chadha, J. and Altug, S., (Eds.) (2003) Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium. Cambridge University Press: Cambridge. ISBN 0521534038

2002

Janssen, N., Nolan, C., and Thomas, R. (2002) Money, debt and prices in the United Kingdom, 1705-1996. Economica, 69(275). pp. 461-479. (doi:10.1111/1468-0335.00294)

Chadha, J. S., and Nolan, C. (2002) Inflation and price level targeting in a New Keynesian model. Manchester School, 70(4). pp. 570-595. (doi:10.1111/1467-9957.00301)

Nolan, C. (2002) Monetary stabilisation policy in a monetary union: some simple analytics. Scottish Journal of Political Economy, 49(2). pp. 196-215. (doi:10.1111/1467-9485.00228)

Chadha, J. S., and Nolan, C. (2002) Supply shocks and the 'natural rate of interest': an exploration. In: Mahadeva, L. and Sinclair, P. (eds.) Monetary Transmission in Diverse Economies. Cambridge University Press: Cambridge, pp. 49-67. ISBN 9780521813464

2001

Chadha, J. S., Janssen, N., and Nolan, C. (2001) Productivity and preferences in a small open economy. Manchester School, 69(s1). pp. 57-80. (doi:10.1111/1467-9957.69.s1.4)

Chadha, J. S., and Nolan, C. (2001) Inflation targeting, transparency and interest rate volatility: ditching "monetary mystique" in the U.K. Journal of Macroeconomics, 23(3). pp. 349-366. (doi:10.1016/S0164-0704(01)00168-9)

1998

Schaling, E., and Nolan, C. (1998) Monetary policy uncertainty and inflation: the role of central bank accountability. De Economist, 146(4). pp. 585-602. (doi:10.1023/A:1003494413926)

1997

Canzoneri, M. B., Nolan, C., and Yates, T. (1997) Mechanisms for achieving monetary stability: inflation targeting versus the ERM. Journal of Money, Credit and Banking, 29(1). pp. 46-60. (doi:10.2307/2953685)

Nolan, C., and Schaling, E. (1997) Monetary Policy Uncertainty and Central Bank Accountability. Working Paper. Bank of England, London.

1996

Nolan, C., and Schaling, E. (1996) International monetary policy co-ordination: some lessons from the literature. Bank of England Quarterly Bulletin, 36(4). pp. 412-417.

This list was generated on Fri Mar 6 12:20:23 2015 GMT.
Number of items: 29.

Articles

Damjanovic, T., Damjanovic, V., and Nolan, C. (2015) Ordering Policy Rules with an Unconditional Welfare Measure. International Journal of Central Banking, 11(1). pp. 103-149.

Damjanovic, V., and Nolan, C. (2012) S,s pricing in a dynamic equilibrium model with heterogeneous sectors. Journal of Economic Dynamics and Control, 36(4). pp. 550-567. (doi:10.1016/j.jedc.2011.11.009)

Damjanovic, T., and Nolan, C. (2011) Second-order approximation to the Rotemberg model around a distorted steady state. Economics Letters, 110(2). pp. 132-135. (doi:10.1016/j.econlet.2010.11.010)

Damjanovic, T., and Nolan, C. (2010) Relative price distortions and inflation persistence. Economic Journal, 120(547). pp. 1080-1099. (doi:10.1111/j.1468-0297.2009.02329.x)

Damjanovic, T., and Nolan, C. (2010) Seigniorage-maximizing inflation under sticky prices. Journal of Money, Credit and Banking, 42(2-3). pp. 503-519. (doi:10.1111/j.1538-4616.2009.00297.x)

Nolan, C., and Thoenissen, C. (2009) Financial shocks and the US business cycle. Journal of Monetary Economics, 56(4). pp. 596-604. (doi:10.1016/j.jmoneco.2009.03.007)

Nolan, C., and Thoenissen, C. (2008) Labour markets and firm-specific capital in New Keynesian general equilibrium models. Journal of Macroeconomics, 30(3). pp. 817-843. (doi:10.1016/j.jmacro.2007.02.002)

Damjanovic, T., Damjanovic, V., and Nolan, C. (2008) Unconditionally optimal monetary policy. Journal of Monetary Economics, 55(3). pp. 491-500. (doi:10.1016/j.jmoneco.2008.01.003)

Chadha, J. S., and Nolan, C. (2007) Optimal simple rules for the conduct of monetary and fiscal policy. Journal of Macroeconomics, 29(4). pp. 665-689. (doi:10.1016/j.jmacro.2005.01.005)

Ghosh, S., and Nolan, C. (2007) The impact of simple fiscal rules in growth models with public goods and congestion. Manchester School, 75(5). pp. 634-651. (doi:10.1111/j.1467-9957.2007.01034.x)

Chadha, J. S., Macmillan, P., and Nolan, C. (2007) Independence day for the 'old lady': a natural experiment on the implications of central bank independence. Manchester School, 75(3). pp. 311-327. (doi:10.1111/j.1467-9957.2007.01019.x)

Damjanovic, V., and Nolan, C. (2006) Aggregation and optimization with state-dependent pricing: a comment. Econometrica, 74(2). pp. 565-573. (doi:10.1111/j.1468-0262.2006.00672.x)

Damjanovic, T., and Nolan, C. (2006) Some welfare implications of optimal stabilisation policy in an economy with capital and sticky prices. Scottish Journal of Political Economy, 53(1). pp. 47-71. (doi:10.1111/j.1467-9485.2006.00370.x)

Nicolae, A., and Nolan, C. (2006) The impact of imperfect credibility in a transition to price stability. Journal of Money, Credit and Banking, 38(1). pp. 47-66. (doi:10.1353/mcb.2006.0022)

Chadha, J.S., and Nolan, C. (2004) Interest rate bounds and fiscal policy. Economics Letters, 84(1). pp. 9-15. (doi:10.1016/j.econlet.2003.12.001)

Chadha, J. S., and Nolan, C. (2004) Output, inflation and the New Keynesian Phillips Curve. International Review of Applied Economics, 18(3). pp. 271-287. (doi:10.1080/0269217042000227060)

Chadha, J. S., Muscatelli, V. A., and Nolan, C. (2003) 'Policy rules-the next steps'-Scottish Journal of Political Economy Special Issue. Scottish Journal of Political Economy, 50(5). i-iii. (doi:10.1111/j.0036-9292.2003.05005007.x)

Janssen, N., Nolan, C., and Thomas, R. (2002) Money, debt and prices in the United Kingdom, 1705-1996. Economica, 69(275). pp. 461-479. (doi:10.1111/1468-0335.00294)

Chadha, J. S., and Nolan, C. (2002) Inflation and price level targeting in a New Keynesian model. Manchester School, 70(4). pp. 570-595. (doi:10.1111/1467-9957.00301)

Nolan, C. (2002) Monetary stabilisation policy in a monetary union: some simple analytics. Scottish Journal of Political Economy, 49(2). pp. 196-215. (doi:10.1111/1467-9485.00228)

Chadha, J. S., Janssen, N., and Nolan, C. (2001) Productivity and preferences in a small open economy. Manchester School, 69(s1). pp. 57-80. (doi:10.1111/1467-9957.69.s1.4)

Chadha, J. S., and Nolan, C. (2001) Inflation targeting, transparency and interest rate volatility: ditching "monetary mystique" in the U.K. Journal of Macroeconomics, 23(3). pp. 349-366. (doi:10.1016/S0164-0704(01)00168-9)

Schaling, E., and Nolan, C. (1998) Monetary policy uncertainty and inflation: the role of central bank accountability. De Economist, 146(4). pp. 585-602. (doi:10.1023/A:1003494413926)

Canzoneri, M. B., Nolan, C., and Yates, T. (1997) Mechanisms for achieving monetary stability: inflation targeting versus the ERM. Journal of Money, Credit and Banking, 29(1). pp. 46-60. (doi:10.2307/2953685)

Nolan, C., and Schaling, E. (1996) International monetary policy co-ordination: some lessons from the literature. Bank of England Quarterly Bulletin, 36(4). pp. 412-417.

Book Sections

Chadha, J. S., and Nolan, C. (2004) The interaction of monetary and fiscal policy: solvency and stabilisation issues. In: Minford, P. (ed.) Money Matters: Essays in Honour of Alan Walters. Edward Elgar: Cheltenham, pp. 169-210. ISBN 9781843764434

Chadha, J. S., and Nolan, C. (2002) Supply shocks and the 'natural rate of interest': an exploration. In: Mahadeva, L. and Sinclair, P. (eds.) Monetary Transmission in Diverse Economies. Cambridge University Press: Cambridge, pp. 49-67. ISBN 9780521813464

Edited Books

Nolan, C., Chadha, J. and Altug, S., (Eds.) (2003) Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium. Cambridge University Press: Cambridge. ISBN 0521534038

Research Reports or Papers

Nolan, C., and Schaling, E. (1997) Monetary Policy Uncertainty and Central Bank Accountability. Working Paper. Bank of England, London.

This list was generated on Fri Mar 6 12:20:23 2015 GMT.