Professor Campbell Leith

  • Professor of Macroeconomics (Economics)

telephone: 01413303702
email: Campbell.Leith@glasgow.ac.uk

Rm 307d, Economics, Gilbert Scott Building, Glasgow G12 8QQ

ORCID iDhttps://orcid.org/0000-0002-6406-2636

Biography

Campbell joined Economics at Glasgow as a lecturer in May 1999.  He previously held positions at the Universities of Strathclyde and Exeter.  He holds degrees from the Universities of Strathclyde, Glasgow and Exeter.

Download a full CV: Campbell Leith‌ (pdf, 53kb)

Research interests

Campbell is a member of the Macroeconomics research cluster.

Areas of Expertise:

  • Macroeconomics

Publications

Selected publications

Leeper, E. M. and Leith, C. (2016) Understanding Inflation as a Joint Monetary-Fiscal Phenomenon. Working Paper. National Bureau of Economic Research, Cambridge, Massachusetts. (doi: 10.3386/w21867).

All publications

List by: Type | Date

Jump to: 2022 | 2021 | 2018 | 2017 | 2016 | 2015 | 2013 | 2012 | 2011 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2001 | 2000
Number of items: 37.

2022

Chen, X., Leeper, E. M. and Leith, C. (2022) Strategic interactions in U.S. monetary and fiscal policies. Quantitative Economics, 13(2), pp. 593-628. (doi: 10.3982/QE1678)

2021

Flamini, F. and Leith, C. (2021) Political conflict and bargaining in a new Keynesian model of fiscal stabilization. Macroeconomic Dynamics, 25(8), pp. 2128-2179. (doi: 10.1017/S1365100519000993)

Leeper, E. M., Leith, C. and Liu, D. (2021) Optimal time-consistent monetary, fiscal and debt maturity policy. Journal of Monetary Economics, 117, pp. 600-617. (doi: 10.1016/j.jmoneco.2020.03.015)

2018

Leith, C. , Moldovan, I. and Wren-Lewis, S. (2018) Debt stabilization in a Non-Ricardian economy. Macroeconomic Dynamics, 23(6), pp. 2509-2543. (doi: 10.1017/S1365100517000797)

Bi, H., Leeper, E. M. and Leith, C. (2018) Sovereign default and monetary policy tradeoffs. International Journal of Central Banking, 14(3), pp. 289-324.

2017

Chen, X., Kirsanova, T. and Leith, C. (2017) How optimal is US monetary policy? Journal of Monetary Economics, 92, pp. 96-111. (doi: 10.1016/j.jmoneco.2017.09.009)

Chen, X., Kirsanova, T. and Leith, C. (2017) An empirical assessment of optimal monetary policy in the Euro area. European Economic Review, 100, pp. 95-115. (doi: 10.1016/j.euroecorev.2017.07.012)

Bai, Y., Kirsanova, T. and Leith, C. (2017) Nominal targeting in an economy with government debt. European Economic Review, 94, pp. 103-125. (doi: 10.1016/j.euroecorev.2017.02.011)

2016

Leeper, E. M. and Leith, C. (2016) Understanding inflation as a joint monetary-fiscal phenomenon. In: Taylor, J. B. and Uhlig, H. (eds.) Handbook of Macroeconomics Volume 2. Elsevier: Amsterdam, pp. 2305-2409. ISBN 9780444594778 (doi: 10.1016/bs.hesmac.2016.03.012)

Leith, C. and Liu, D. (2016) The inflation bias under Calvo and Rotemberg pricing. Journal of Economic Dynamics and Control, 73, pp. 283-297. (doi: 10.1016/j.jedc.2016.09.002)

Leeper, E. M. and Leith, C. (2016) Understanding Inflation as a Joint Monetary-Fiscal Phenomenon. Working Paper. National Bureau of Economic Research, Cambridge, Massachusetts. (doi: 10.3386/w21867).

2015

Leith, C. , Moldovan, I. and Rossi, R. (2015) Monetary and fiscal policy under deep habits. Journal of Economic Dynamics and Control, 52, pp. 55-74. (doi: 10.1016/j.jedc.2014.11.005)

2013

Bi, H., Leeper, E.M. and Leith, C. (2013) Uncertain fiscal consolidations. Economic Journal, 123(566), F31-F63. (doi: 10.1111/ecoj.12011)

Leith, C. and Wren-Lewis, S. (2013) Fiscal sustainability in a new Keynesian model. Journal of Money, Credit and Banking, 45(8), pp. 1477-1516. (doi: 10.1111/jmcb.12060)

2012

Leith, C. , Moldovan, I. and Rossi, R. (2012) Optimal monetary policy in a new Keynesian model with habits in consumption. Review of Economic Dynamics, 15(3), pp. 416-435. (doi: 10.1016/j.red.2012.03.001)

Bi, H., Leeper, E.M. and Leith, C.B. (2012) Uncertain fiscal consolidations. Working Paper. National Bureau of Economic Research. (doi: 10.3386/w17844).

Leith, C. and Wren-Lewis, S. (2012) Fiscal sustainability in a new Keynesian model - additional appendix. (Unpublished)

2011

Leith, C. and Wren-Lewis, S. (2011) Discretionary policy in a monetary union with sovereign debt. European Economic Review, 55(1), pp. 93-117. (doi: 10.1016/j.euroecorev.2010.11.007)

2009

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2009) Monetary and fiscal policy interaction: the current consensus assignment in the light of recent developments. Economic Journal, 119(541), F482-F496. (doi: 10.1111/j.1468-0297.2009.02317.x)

Leith, C. and Wren-Lewis, S. (2009) Electoral uncertainty, the deficit bias and the electoral cycle in a New Keynesian economy. Discussion Paper. Oxford University Press.

Haruyama, T. and Leith, C. (2009) Unemployment and the productivity slowdown: an effciency wage perspective. Japanese Economic Review, 61(3), pp. 301-319. (doi: 10.1111/j.1468-5876.2009.00492.x)

Leith, C. and Wren-Lewis, S. (2009) Taylor rules in the open economy. European Economic Review, 53(8), pp. 971-995. (doi: 10.1016/j.euroecorev.2009.04.009)

2008

Leith, C. and von Thadden, L. (2008) Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers. Journal of Economic Theory, 140(1), pp. 279-313. (doi: 10.1016/j.jet.2007.07.005)

Leith, C. and Wren-Lewis, S. (2008) Interactions between monetary and fiscal policy under flexible exchange rates. Journal of Economic Dynamics and Control, 32(9), pp. 2854-2882. (doi: 10.1016/j.jedc.2007.11.005)

2007

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2007) Optimal debt policy, and an institutional proposal to help in its implementation. European Economy Economics Papers, 275, pp. 269-296.

Leith, C. and Malley, J. (2007) Estimated open economy New Keynesian Phillips curves for the G7. Open Economies Review, 18, pp. 405-426. (doi: 10.1007/s11079-007-9008-x)

Leith, C. and Malley, J. (2007) A sectoral analysis of price-setting behavior in US manufacturing industries. Review of Economics and Statistics, 89, pp. 335-342. (doi: 10.1162/rest.89.2.335)

2006

Andrés, J., Doménech, R. and Leith, C. (2006) Fiscal policy, macroeconomic stability and finite horizons. Scottish Journal of Political Economy, 53(1), pp. 72-89. (doi: 10.1111/j.1467-9485.2005.00371.x)

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2006) Should central banks target consumer prices or the exchange rate? Economic Journal, 116(512), F208-F231. (doi: 10.1111/j.1468-0297.2006.01097.x)

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2006) Optimal debt policy. In: Ayuso-i-Casals, J., Deroose, S., Flores, E. and Moulin, L. (eds.) The Role of Fiscal Rules and Institutions in Shaping Budgetary Outcomes. Series: Economic Papers (275). European Commission Directorate General for Economic and Financial Affairs: Brussels, pp. 269-296. ISBN 9789279046285

Leith, C. and Wren-Lewis, S. (2006) Compatibility between monetary and fiscal policy under EMU. European Economic Review, 50, pp. 1529-1556. (doi: 10.1016/j.euroecorev.2005.04.003)

2005

Leith, C. and Malley, J. (2005) Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe. European Economic Review, 49, pp. 2137-2159. (doi: 10.1016/j.euroecorev.2004.09.010)

Leith, C. and Wren-Lewis, S. (2005) Fiscal stabilization policy and fiscal institutions. Oxford Review of Economic Policy, 21(4), pp. 584-597. (doi: 10.1093/oxrep/gri033)

2004

Leith, C. (2004) Comments on “Monetary and fiscal interactions in open economies". Journal of Macroeconomics, 26(2), pp. 349-352. (doi: 10.1016/j.jmacro.2003.11.008)

2003

Leith, C., Warren, P. and Wren-Lewis, S. (2003) Fiscal policy, interest rate shocks and prices. Economic Modelling, 20, pp. 361-382.

2001

Leith, C. and Wren-Lewis, S. (2001) Interest rate feedback rules in an open economy with forward looking inflation. Oxford Bulletin of Economics and Statistics, 63, pp. 209-231.

2000

Leith, C. and Wren-Lewis, S. (2000) Interactions between monetary and fiscal policy rules. Economic Journal, 110(462), pp. 93-108. (doi: 10.1111/1468-0297.00523)

This list was generated on Fri Dec 2 21:15:40 2022 GMT.
Number of items: 37.

Articles

Chen, X., Leeper, E. M. and Leith, C. (2022) Strategic interactions in U.S. monetary and fiscal policies. Quantitative Economics, 13(2), pp. 593-628. (doi: 10.3982/QE1678)

Flamini, F. and Leith, C. (2021) Political conflict and bargaining in a new Keynesian model of fiscal stabilization. Macroeconomic Dynamics, 25(8), pp. 2128-2179. (doi: 10.1017/S1365100519000993)

Leeper, E. M., Leith, C. and Liu, D. (2021) Optimal time-consistent monetary, fiscal and debt maturity policy. Journal of Monetary Economics, 117, pp. 600-617. (doi: 10.1016/j.jmoneco.2020.03.015)

Leith, C. , Moldovan, I. and Wren-Lewis, S. (2018) Debt stabilization in a Non-Ricardian economy. Macroeconomic Dynamics, 23(6), pp. 2509-2543. (doi: 10.1017/S1365100517000797)

Bi, H., Leeper, E. M. and Leith, C. (2018) Sovereign default and monetary policy tradeoffs. International Journal of Central Banking, 14(3), pp. 289-324.

Chen, X., Kirsanova, T. and Leith, C. (2017) How optimal is US monetary policy? Journal of Monetary Economics, 92, pp. 96-111. (doi: 10.1016/j.jmoneco.2017.09.009)

Chen, X., Kirsanova, T. and Leith, C. (2017) An empirical assessment of optimal monetary policy in the Euro area. European Economic Review, 100, pp. 95-115. (doi: 10.1016/j.euroecorev.2017.07.012)

Bai, Y., Kirsanova, T. and Leith, C. (2017) Nominal targeting in an economy with government debt. European Economic Review, 94, pp. 103-125. (doi: 10.1016/j.euroecorev.2017.02.011)

Leith, C. and Liu, D. (2016) The inflation bias under Calvo and Rotemberg pricing. Journal of Economic Dynamics and Control, 73, pp. 283-297. (doi: 10.1016/j.jedc.2016.09.002)

Leith, C. , Moldovan, I. and Rossi, R. (2015) Monetary and fiscal policy under deep habits. Journal of Economic Dynamics and Control, 52, pp. 55-74. (doi: 10.1016/j.jedc.2014.11.005)

Bi, H., Leeper, E.M. and Leith, C. (2013) Uncertain fiscal consolidations. Economic Journal, 123(566), F31-F63. (doi: 10.1111/ecoj.12011)

Leith, C. and Wren-Lewis, S. (2013) Fiscal sustainability in a new Keynesian model. Journal of Money, Credit and Banking, 45(8), pp. 1477-1516. (doi: 10.1111/jmcb.12060)

Leith, C. , Moldovan, I. and Rossi, R. (2012) Optimal monetary policy in a new Keynesian model with habits in consumption. Review of Economic Dynamics, 15(3), pp. 416-435. (doi: 10.1016/j.red.2012.03.001)

Leith, C. and Wren-Lewis, S. (2012) Fiscal sustainability in a new Keynesian model - additional appendix. (Unpublished)

Leith, C. and Wren-Lewis, S. (2011) Discretionary policy in a monetary union with sovereign debt. European Economic Review, 55(1), pp. 93-117. (doi: 10.1016/j.euroecorev.2010.11.007)

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2009) Monetary and fiscal policy interaction: the current consensus assignment in the light of recent developments. Economic Journal, 119(541), F482-F496. (doi: 10.1111/j.1468-0297.2009.02317.x)

Haruyama, T. and Leith, C. (2009) Unemployment and the productivity slowdown: an effciency wage perspective. Japanese Economic Review, 61(3), pp. 301-319. (doi: 10.1111/j.1468-5876.2009.00492.x)

Leith, C. and Wren-Lewis, S. (2009) Taylor rules in the open economy. European Economic Review, 53(8), pp. 971-995. (doi: 10.1016/j.euroecorev.2009.04.009)

Leith, C. and von Thadden, L. (2008) Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers. Journal of Economic Theory, 140(1), pp. 279-313. (doi: 10.1016/j.jet.2007.07.005)

Leith, C. and Wren-Lewis, S. (2008) Interactions between monetary and fiscal policy under flexible exchange rates. Journal of Economic Dynamics and Control, 32(9), pp. 2854-2882. (doi: 10.1016/j.jedc.2007.11.005)

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2007) Optimal debt policy, and an institutional proposal to help in its implementation. European Economy Economics Papers, 275, pp. 269-296.

Leith, C. and Malley, J. (2007) Estimated open economy New Keynesian Phillips curves for the G7. Open Economies Review, 18, pp. 405-426. (doi: 10.1007/s11079-007-9008-x)

Leith, C. and Malley, J. (2007) A sectoral analysis of price-setting behavior in US manufacturing industries. Review of Economics and Statistics, 89, pp. 335-342. (doi: 10.1162/rest.89.2.335)

Andrés, J., Doménech, R. and Leith, C. (2006) Fiscal policy, macroeconomic stability and finite horizons. Scottish Journal of Political Economy, 53(1), pp. 72-89. (doi: 10.1111/j.1467-9485.2005.00371.x)

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2006) Should central banks target consumer prices or the exchange rate? Economic Journal, 116(512), F208-F231. (doi: 10.1111/j.1468-0297.2006.01097.x)

Leith, C. and Wren-Lewis, S. (2006) Compatibility between monetary and fiscal policy under EMU. European Economic Review, 50, pp. 1529-1556. (doi: 10.1016/j.euroecorev.2005.04.003)

Leith, C. and Malley, J. (2005) Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe. European Economic Review, 49, pp. 2137-2159. (doi: 10.1016/j.euroecorev.2004.09.010)

Leith, C. and Wren-Lewis, S. (2005) Fiscal stabilization policy and fiscal institutions. Oxford Review of Economic Policy, 21(4), pp. 584-597. (doi: 10.1093/oxrep/gri033)

Leith, C. (2004) Comments on “Monetary and fiscal interactions in open economies". Journal of Macroeconomics, 26(2), pp. 349-352. (doi: 10.1016/j.jmacro.2003.11.008)

Leith, C., Warren, P. and Wren-Lewis, S. (2003) Fiscal policy, interest rate shocks and prices. Economic Modelling, 20, pp. 361-382.

Leith, C. and Wren-Lewis, S. (2001) Interest rate feedback rules in an open economy with forward looking inflation. Oxford Bulletin of Economics and Statistics, 63, pp. 209-231.

Leith, C. and Wren-Lewis, S. (2000) Interactions between monetary and fiscal policy rules. Economic Journal, 110(462), pp. 93-108. (doi: 10.1111/1468-0297.00523)

Book Sections

Leeper, E. M. and Leith, C. (2016) Understanding inflation as a joint monetary-fiscal phenomenon. In: Taylor, J. B. and Uhlig, H. (eds.) Handbook of Macroeconomics Volume 2. Elsevier: Amsterdam, pp. 2305-2409. ISBN 9780444594778 (doi: 10.1016/bs.hesmac.2016.03.012)

Kirsanova, T. , Leith, C. and Wren-Lewis, S. (2006) Optimal debt policy. In: Ayuso-i-Casals, J., Deroose, S., Flores, E. and Moulin, L. (eds.) The Role of Fiscal Rules and Institutions in Shaping Budgetary Outcomes. Series: Economic Papers (275). European Commission Directorate General for Economic and Financial Affairs: Brussels, pp. 269-296. ISBN 9789279046285

Research Reports or Papers

Leeper, E. M. and Leith, C. (2016) Understanding Inflation as a Joint Monetary-Fiscal Phenomenon. Working Paper. National Bureau of Economic Research, Cambridge, Massachusetts. (doi: 10.3386/w21867).

Bi, H., Leeper, E.M. and Leith, C.B. (2012) Uncertain fiscal consolidations. Working Paper. National Bureau of Economic Research. (doi: 10.3386/w17844).

Leith, C. and Wren-Lewis, S. (2009) Electoral uncertainty, the deficit bias and the electoral cycle in a New Keynesian economy. Discussion Paper. Oxford University Press.

This list was generated on Fri Dec 2 21:15:40 2022 GMT.

Grants

ESRC Grant (2001-2004) £50,000 (£34,000 for Dr. C. Leith) for research on “Interactions Between Monetary and Fiscal Policy” joint with Simon Wren-Lewis (University of Exeter). Rated as ‘outstanding’.

HM Treasury project (2005-2008) on “Fiscal Stabilisation in EMU”, with S. Wren-Lewis (University of Exeter).

ESRC Grant (2005-2008) £147,000 (£97,000 for Prof C. Leith as the Principal Investigator) for research on “Reinstating Fiscal Policy as a Stabilisation Device” joint with Simon Wren-Lewis (University of Oxford). Rated as ‘outstanding’.

ESRC Grant (2008-2011) £150,000 for research on “New Directions in  Monetary and Fiscal Policy Analysis at the Macroeconomic Level” joint with Simon Wren-Lewis (University of Oxford). Rated as ‘outstanding’.

Supervision

Current PhD students

Teaching

I have taught a broad spectrum of courses at both undergraduate and post-graduate level including Financial Economics, Advanced Macroeconomics, Intermediate Macroeconomics, Government and the Economy, Economics for Management, Macroeconomic Modelling, and International Banking. This teaching includes a contribution to the core Macroeconomics class of the Scottish Graduate Programme in Economics at the University of Edinburgh. I also supervise postgraduate research undertaken as part of Masters and PhD study. Finally, I am a member of the Higher Education Academy (formerly the Institute of Learning and Teaching).

Additional information

Work in progress

Bi, H., Leeper, E. and Leith, C. (2010), 'Stabilization versus Sustainability: Macroeconomic Policy Tradeoffs' (pdf, 340kb).

Editorships

Associate Editor, European Economic Review http://ees.elsevier.com/eer/default.asp

Co-editor, B.E. Journal of Macroeconomics bepress.com/bejm/

Co-editor, Scottish Journal of Political Economy. wiley.com/bw/journal.asp?ref=0036-9292

Working papers

Details of Campbell's working papers can be found on his RePEc profile on the RePEc website.