Monthly Archives: January 2015

PhD Macroeconomic Workshop 8-9 April 2015

“Recent Developments in Money, Macroeconomics and Finance”, University of York, 8-9 April 2015

Sponsored by the Money, Macro, Finance Group, the Centre for Applied Macro-Finance (CAMF) and the Department of Economics at the University of York, University of Sheffield and the Bank of England.

Together with colleagues at the University of York, University of Sheffield and the Bank of England, the Money Macro and Finance group, MMF, are organising another annual workshop for UK-based PhD economists in the broad fields of money, macro and finance, following the success of the inaugural conference at Warwick last year.

The main objective of the workshop is to provide advanced PhD economists, about to go on the job market, with an opportunity to present their research to their peers and leading researchers in the field in order to obtain feedback and practice the presentation of their key research ideas. An added bonus is that it allows for some early dissemination of these ideas across the research and policy-making community. As well as senior academics, the conference will be attended by economists from the Bank of England and H M Treasury.

We invite submissions of complete papers from PhD students who are registered for their research degree at UK institutions of higher education. Topics may include but are not confined to macroeconomic theory, time series, panel data, Bayesian macro-econometrics and economic and financial history. Attendees should note that they may be asked to discuss a paper. The costs of attendance at the conference and reasonable travel costs will be met by the sponsors. Should you wish simply to attend please contact the organisers directly.

The Scientific Committee for the conference in 2015 will include the local organisers Mauro Bambi, Gulcin Ozkan, Neil Rankin, Peter Smith and Peter Spencer (University of York) and Christoph Thoenissen (University of Sheffield), Kevin Lee (University of Nottingham and MMF), Jagjit Chadha (University of Kent and MMF) and Stephen Millard (Bank of England and MMF).

The deadline for the submission of papers is January 23, 2015. Please submit papers along with a covering letter confirming your status in an email with “PhD Conference Submission” in the Subject Heading, to macrophd@york.ac.uk. Authors will be notified by February 27, 2014 and the programme published shortly thereafter.

 

MaGHiC Inaugural Lecture

Professor José-Víctor Ríos-Rull, from the University of Minnesota and the Minneapolis FED, delivered the Inaugural Macroeconomics, Growth and History Centre (MaGHiC) Lecture on Friday 16 January. He presented his work with Huo Zhen on ‘Financial Frictions, Asset Prices, and the Great Recession‘.

The Great Recession that most western economies faced from 2008 was unusual in that it represented the largest drop of economic activity since the Great Depression of the 1930s. The loss of output, employment, productivity and house values during the period was of an order of magnitude many times larger than standard recessions.

Professor Rios-Rull addressed a question on whether a financial shock in macroeconomic models can reproduce such a large slump. This financial shock comes in the form of tightening lending standards by banks. The answer to the question is ‘yes’: a quantitative assessment of a model with financial imperfections, and where demand can contribute to productivity fluctuations, demonstrated that we can generate such a large decline in economic activity even with a modest tightening of lending standards by banks.

For further information on the Macroeconomics, Growth and History Centre (MaGHiC), please click here.

 

 

Was Domar Right? The Second Serfdom, the Land-Labour Ratio, and Urbanization in Eighteenth-Century Bohemia

Dr Alex Klein is giving a seminar tomorrow (20 January 2015) at the UCL School of Slavonic & East European Studies titled “Was Domar Right? The Second Serfdom, the Land-Labour Ratio, and Urbanization in Eighteenth-Century Bohemia”. The seminar is at 5pm in Roberts 309, UCL, Torrington Place, London, WC1E 7JE. For further details, click here.