Professor Richard Dennis

  • Professor in Economics (Economics)

telephone: 01413302305
email: Richard.Dennis@glasgow.ac.uk

New Adam Smith Building, 2 Discovery Place, Glasgow, G11 6EY

Import to contacts

ORCID iDhttps://orcid.org/0000-0002-4972-1509

Biography

Richard Dennis gained his PhD from the Australian National University in 2001.  Prior to joining the University of Glasgow, he has worked for the Australian National University and for the Federal Reserve Bank of San Francisco.  He currently serves as associate editor for the European Economic Review.

Research interests

Richard is a member of the Macroeconomics research cluster.

Areas of expertise:

  • Monetary policy    
  • Business cycles   
  • Time-inconsistency   
  • Quantitative theory  
  • Model uncertainty

Publications

List by: Type | Date

Jump to: 2025 | 2024 | 2023 | 2022 | 2020 | 2018 | 2016 | 2014 | 2013 | 2010 | 2009 | 2008 | 2007 | 2006 | 2004 | 2003 | 2001 | 1999
Number of items: 30.

2025

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanov, Oleg (2025) Monetary policy when preferences are quasi-hyperbolic. Journal of Money, Credit and Banking, (Accepted for Publication)

2024

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanova, Tatiana ORCID logoORCID: https://orcid.org/0000-0002-1470-4311 (2024) Policy biases in a model with labor market frictions. Journal of Money, Credit and Banking, (Accepted for Publication)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2024) Using a hyperbolic cross to solve non-linear macroeconomic models. Journal of Economic Dynamics and Control, 163, 104860. (doi: 10.1016/j.jedc.2024.104860)

2023

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Ilbas, Pelin (2023) Monetary and macroprudential policy interactions in a model of the Euro area. Journal of Economic Dynamics and Control, 154, 104706. (doi: 10.1016/j.jedc.2023.104706)

2022

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2022) Computing time-consistent equilibria: a perturbation approach. Journal of Economic Dynamics and Control, 137, 104349. (doi: 10.1016/j.jedc.2022.104349)

2020

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanov, Oleg (2020) Monetary Policy when Preferences are Quasi-Hyperbolic. Working Paper. University of Glasgow.

2018

Waki, Yuichiro, Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Fujiwara, Ippei (2018) The optimal degree of monetary discretion in a new Keynesian model with private information. Theoretical Economics, 13(3), pp. 1319-1367. (doi: 10.3982/TE2369)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanova, Tatiana ORCID logoORCID: https://orcid.org/0000-0002-1470-4311 (2018) Equilibrium coordination with discretionary policy making. Economic Journal, 128(609), pp. 710-727. (doi: 10.1111/ecoj.12407)

2016

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanova, Tatiana ORCID logoORCID: https://orcid.org/0000-0002-1470-4311 (2016) Computing Markov-perfect optimal policies in business-cycle models. Macroeconomic Dynamics, 20(7), pp. 1850-1872. (doi: 10.1017/S1365100515000176)

2014

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2014) Imperfect credibility and robust monetary policy. Journal of Economic Dynamics and Control, 44, pp. 218-234. (doi: 10.1016/j.jedc.2014.05.004)

2013

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2013) Review of: Macroeconomic Theory: A Dynamic General Equilibrium Approach, 2nd edn, by Michael Wickens (Princeton University Press, Princeton, NJ, 2011). Economic Record, 89(285), pp. 275-276. (doi: 10.1111/1475-4932.12049)[Book Review]

2010

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2010) How robustness can lower the cost of discretion. Journal of Monetary Economics, 57(6), pp. 653-667. (doi: 10.1016/j.jmoneco.2010.06.003)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2010) When is discretion superior to timeless perspective policymaking? Journal of Monetary Economics, 57(3), pp. 266-277. (doi: 10.1016/j.jmoneco.2010.02.006)

2009

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509, Leitemo, K. and Soderstrom, U. (2009) Methods for robust control. Journal of Economic Dynamics and Control, 33(8), pp. 1604-1616. (doi: 10.1016/j.jedc.2009.02.011)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2009) Consumption habits in a New Keynesian business cycle model. Journal of Money, Credit and Banking, 41(5), pp. 1015-1030. (doi: 10.1111/j.1538-4616.2009.00242.x)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2009) Review of: Robustness - by Lars Peter Hansen and Thomas J. Sargent. Economic Record, 85(268), pp. 108-109. (doi: 10.1111/j.1475-4932.2009.00532.x)[Book Review]

2008

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2008) Robust control with commitment: A modification to Hansen-Sargent. Journal of Economic Dynamics and Control, 32(7), pp. 2061-2084. (doi: 10.1016/j.jedc.2007.08.003)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Ravenna, F. (2008) Learning and optimal monetary policy. Journal of Economic Dynamics and Control, 32(6), pp. 1964-1994. (doi: 10.1016/j.jedc.2007.08.002)

2007

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2007) Optimal policy in rational expectations models: new solution algorithms. Macroeconomic Dynamics, 11(1), pp. 31-55. (doi: 10.1017/S1365100507050341)

2006

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Soderstrom, Ulf (2006) How important is precommitment for monetary policy? Journal of Money, Credit and Banking, 38(4), pp. 847-872. (doi: 10.1353/mcb.2006.0054)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2006) The policy preferences of the US Federal Reserve. Journal of Applied Econometrics, 21(1), pp. 55-77. (doi: 10.1002/jae.808)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2006) The policy preferences of the US Federal Reserve. Journal of Applied Econometrics Newsletter, 21(1), pp. 55-77. (doi: 10.1002/jae.808)

2004

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2004) Inferring policy objectives from economic outcomes. Oxford Bulletin of Economics and Statistics, 66(Sup 1), pp. 735-764. (doi: 10.1111/j.1468-0084.2004.100_1.x)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2004) Solving for optimal simple rules in rational expectations models. Journal of Economic Dynamics and Control, 28(8), pp. 1635-1660. (doi: 10.1016/S0165-1889(03)00097-6)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Lopez, J. (2004) [Modeling regional interdependencies using a global error-correcting macroeconometric model]: Comment. Journal of Business and Economic Statistics, 22(2), pp. 165-169. [Book Review]

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Lopez, Jose A. (2004) Comment. Journal of Business and Economic Statistics, 22(2), pp. 165-169. (doi: 10.1198/073500104000000037)

2003

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2003) Exploring the role of the real exchange rate in Australian monetary policy. Economic Record, 79(244), pp. 20-38. (doi: 10.1111/1475-4932.00076)

2001

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2001) Book review: Challenges for Monetary Policy: A Symposium Sponsored by the Federal Reserve Bank of Kansas City, Kansas City, 1999. Journal of Economic Literature, 39(4), pp. 1239-1240. [Book Review]

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2001) Inflation expectations and the stability properties of nominal GDP targeting. Economic Journal, 111(468), pp. 103-113. (doi: 10.1111/1468-0297.00590)

1999

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (1999) Discretionary monetary policy with costly inflation. Economics Letters, 65(1), pp. 91-96. (doi: 10.1016/S0165-1765(99)00123-8)

This list was generated on Sun Jun 15 07:59:20 2025 BST.
Jump to: Articles | Book Reviews | Research Reports or Papers
Number of items: 30.

Articles

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanov, Oleg (2025) Monetary policy when preferences are quasi-hyperbolic. Journal of Money, Credit and Banking, (Accepted for Publication)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanova, Tatiana ORCID logoORCID: https://orcid.org/0000-0002-1470-4311 (2024) Policy biases in a model with labor market frictions. Journal of Money, Credit and Banking, (Accepted for Publication)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2024) Using a hyperbolic cross to solve non-linear macroeconomic models. Journal of Economic Dynamics and Control, 163, 104860. (doi: 10.1016/j.jedc.2024.104860)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Ilbas, Pelin (2023) Monetary and macroprudential policy interactions in a model of the Euro area. Journal of Economic Dynamics and Control, 154, 104706. (doi: 10.1016/j.jedc.2023.104706)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2022) Computing time-consistent equilibria: a perturbation approach. Journal of Economic Dynamics and Control, 137, 104349. (doi: 10.1016/j.jedc.2022.104349)

Waki, Yuichiro, Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Fujiwara, Ippei (2018) The optimal degree of monetary discretion in a new Keynesian model with private information. Theoretical Economics, 13(3), pp. 1319-1367. (doi: 10.3982/TE2369)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanova, Tatiana ORCID logoORCID: https://orcid.org/0000-0002-1470-4311 (2018) Equilibrium coordination with discretionary policy making. Economic Journal, 128(609), pp. 710-727. (doi: 10.1111/ecoj.12407)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanova, Tatiana ORCID logoORCID: https://orcid.org/0000-0002-1470-4311 (2016) Computing Markov-perfect optimal policies in business-cycle models. Macroeconomic Dynamics, 20(7), pp. 1850-1872. (doi: 10.1017/S1365100515000176)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2014) Imperfect credibility and robust monetary policy. Journal of Economic Dynamics and Control, 44, pp. 218-234. (doi: 10.1016/j.jedc.2014.05.004)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2010) How robustness can lower the cost of discretion. Journal of Monetary Economics, 57(6), pp. 653-667. (doi: 10.1016/j.jmoneco.2010.06.003)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2010) When is discretion superior to timeless perspective policymaking? Journal of Monetary Economics, 57(3), pp. 266-277. (doi: 10.1016/j.jmoneco.2010.02.006)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509, Leitemo, K. and Soderstrom, U. (2009) Methods for robust control. Journal of Economic Dynamics and Control, 33(8), pp. 1604-1616. (doi: 10.1016/j.jedc.2009.02.011)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2009) Consumption habits in a New Keynesian business cycle model. Journal of Money, Credit and Banking, 41(5), pp. 1015-1030. (doi: 10.1111/j.1538-4616.2009.00242.x)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2008) Robust control with commitment: A modification to Hansen-Sargent. Journal of Economic Dynamics and Control, 32(7), pp. 2061-2084. (doi: 10.1016/j.jedc.2007.08.003)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Ravenna, F. (2008) Learning and optimal monetary policy. Journal of Economic Dynamics and Control, 32(6), pp. 1964-1994. (doi: 10.1016/j.jedc.2007.08.002)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2007) Optimal policy in rational expectations models: new solution algorithms. Macroeconomic Dynamics, 11(1), pp. 31-55. (doi: 10.1017/S1365100507050341)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Soderstrom, Ulf (2006) How important is precommitment for monetary policy? Journal of Money, Credit and Banking, 38(4), pp. 847-872. (doi: 10.1353/mcb.2006.0054)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2006) The policy preferences of the US Federal Reserve. Journal of Applied Econometrics, 21(1), pp. 55-77. (doi: 10.1002/jae.808)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2006) The policy preferences of the US Federal Reserve. Journal of Applied Econometrics Newsletter, 21(1), pp. 55-77. (doi: 10.1002/jae.808)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2004) Inferring policy objectives from economic outcomes. Oxford Bulletin of Economics and Statistics, 66(Sup 1), pp. 735-764. (doi: 10.1111/j.1468-0084.2004.100_1.x)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2004) Solving for optimal simple rules in rational expectations models. Journal of Economic Dynamics and Control, 28(8), pp. 1635-1660. (doi: 10.1016/S0165-1889(03)00097-6)

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Lopez, Jose A. (2004) Comment. Journal of Business and Economic Statistics, 22(2), pp. 165-169. (doi: 10.1198/073500104000000037)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2003) Exploring the role of the real exchange rate in Australian monetary policy. Economic Record, 79(244), pp. 20-38. (doi: 10.1111/1475-4932.00076)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2001) Inflation expectations and the stability properties of nominal GDP targeting. Economic Journal, 111(468), pp. 103-113. (doi: 10.1111/1468-0297.00590)

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (1999) Discretionary monetary policy with costly inflation. Economics Letters, 65(1), pp. 91-96. (doi: 10.1016/S0165-1765(99)00123-8)

Book Reviews

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2013) Review of: Macroeconomic Theory: A Dynamic General Equilibrium Approach, 2nd edn, by Michael Wickens (Princeton University Press, Princeton, NJ, 2011). Economic Record, 89(285), pp. 275-276. (doi: 10.1111/1475-4932.12049)[Book Review]

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2009) Review of: Robustness - by Lars Peter Hansen and Thomas J. Sargent. Economic Record, 85(268), pp. 108-109. (doi: 10.1111/j.1475-4932.2009.00532.x)[Book Review]

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Lopez, J. (2004) [Modeling regional interdependencies using a global error-correcting macroeconometric model]: Comment. Journal of Business and Economic Statistics, 22(2), pp. 165-169. [Book Review]

Dennis, R. ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 (2001) Book review: Challenges for Monetary Policy: A Symposium Sponsored by the Federal Reserve Bank of Kansas City, Kansas City, 1999. Journal of Economic Literature, 39(4), pp. 1239-1240. [Book Review]

Research Reports or Papers

Dennis, Richard ORCID logoORCID: https://orcid.org/0000-0002-4972-1509 and Kirsanov, Oleg (2020) Monetary Policy when Preferences are Quasi-Hyperbolic. Working Paper. University of Glasgow.

This list was generated on Sun Jun 15 07:59:20 2025 BST.

Grants

Principle investigator for “Time-consistent macroeconomic policy in nonlinear models” Australian research Council DP130104051, 2013-2015, A$156,000 (Relinquished upon moving to United Kingdom).

Supervision

Macroeconomic Theory, Monetary Policy.

  • Ning, Xiaoli
    Monetary Policy and Inequality: The role of behavioral expectations

Teaching

Undergraduate: Economics 1B (undergraduate), and Macroeconomic Theory (graduate).

Additional information

Professor Dennis is co-director of the Macroeconomic Policy Frameworks Program at the Center for Applied Macroeconomic Analysis and serves as associate editor for the European Economic Review. 


Professor Richard Dennis, Professor in Economics