Researchers in the Macroeconomics Research Cluster are engaged in work across a broad range of themes covering both closed and open economy topics and management of economic policy at shorter and longer-term horizons.
More specifically, recent work has addressed a wide variety of issues pertaining to:
- Development and international tax competition
- Exchange rate fluctuations and economic policy
- The optimal design of monetary and fiscal policy, trade policy, growth and economic inequality
- Financial market incompleteness
- Investment frictions in the macroeconomy
- The role of news in business cycle analysis
- Labour market distortions and the optimal conduct of economic policy
- The credibility of economic policymakers and the issues involved in policy formation when the “true” model of the economy is unknown
- The economics of independence/devolution
The researchers in the Macroeconomics Research Cluster are regular visitors to central banks and other policymaking institutions around the world. There are also close ties between the cluster and policymakers here in the UK.