Working towards a stable and sustainable growth path

Lead Research Organisation: London School of Economics & Pol Sci
Department Name: Economics

Abstract

The centre for macroeconomics brings together a diverse set of institutions, which range from the policy making (Bank of England) through applied policy research (National Institute of Economic and Social Research) to academia (London School of Economics, University College London and Cambridge).



This joint initiative creates an environment for imaginative, policy relevant, and intellectually robust research to address the exceptional challenges of our time. While the immediate losses of the recent crisis have been absorbed by the public sector, the full economic and social consequences are still unfolding. Tepid economic growth, persistent youth unemployment, devastated public finances, and a fractured international financial system are translating into lost opportunities for the next generation unless these issues are addressed.



The academic and policy researchers at the centre for macroeconomics recognise these exceptional challenges and the leading part that the economics profession has to play in finding efficient and equitable solutions.



The centre's objectives are:






  • better research developed subject to the discipline of addressing the most pressing economic and policy issues


  • improvement of the information flow between policy makers, market participants, and academics


  • diffusion of best available tools and analysis among the new generation of young scholars, both within the participating institutions and outside.


Organisations

Publications


10 25 50
Aikman D (2015) Curbing the Credit Cycle in The Economic Journal
Aikman D (2015) Reputation, risk-taking, and macroprudential policy in Journal of Banking & Finance
ALESSANDRI P (2015) Simple Banking: Profitability and the Yield Curve in Journal of Money, Credit and Banking
Alex Haberis And Andrej Sokol A procedure for combining zero and sign restrictions in a VAR-identification scheme in CFM Discussion Paper series
Andre Diniz And Bernardo Guimaraes Financial disruption as a cost of sovereign default: a quantitative assessment in CFM Discussion Paper Series
Antunes A (2013) THE WELFARE GAINS OF FINANCIAL LIBERALIZATION: CAPITAL ACCUMULATION AND HETEROGENEITY in Journal of the European Economic Association
 
Description A lot of researchers and activities are associated with this grant. It is, therefore, difficult to report without overwhelming you. Below we focus on some ground breaking achievements. More details on CFM research and other CFM activities and contributions can be found in a report containing background information. This is available at http://www.centreformacroeconomics.ac.uk/cfmadditionalinformation.pdf .

Fiscal policy and its impact on the economy by Karel Mertens (Cornell) and Morten Ravn (UCL)
The first achievement we want to highlight is the paper 'The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States,' by Karel Mertens and Morten Ravn published in the American Economic Review, a top five economic journal. This paper deals with one of the key questions in macroeconomics, namely the impact of fiscal policy on the business cycle. It also deals with possibly the most challenging methodological problem in empirical macroeconomics, namely the endogeneity issue. The problem is the following. We would like to understand what the effect is of fiscal policy on economic activity. The problem is that fiscal policy responds to factors in the economy (for example, an oil crisis), which also has a direct effect on subsequent economic activity. To disentangle the direct effect from the effect due to fiscal policy, Karel Mertens and Morten Ravn use standard statistical techniques in combination with a narrative approach, which makes it possible to reveal which changes in fiscal policy were due to responses in macroeconomic circumstances and which were not. Joris de Wind from the Netherland Bureau of Economic Policy Analysis has already adopted this approach and extended it to allow for time-varying responses.

Productivity Loss in the Great Stagnation by Rebecca Riley (NIESR), Chiara Rosazza Boundibene (NIESR) and Gary Young (Bank of England)
Why financial crises lead to a permanent loss of output is not well understood. The paper 'Productivity Dynamics in the Great Stagnation: Evidence from British Businesses' by Rebecca Riley, Chiara Rosazza Boundibene, and Gary Young puts out the hypothesis that a banking crisis reduces the efficiency of resource allocation across businesses. This hinders a key mechanism by which productivity growth arises. Yet despite the popularity of this explanation, there is little empirical evidence that these distortions add to the severity of recessions and weaken the productive potential of the economy. This paper investigates inefficiencies in resource allocation further to explain the weakness of productivity growth in the aftermath of the global financial crisis. In particular, it shows how the weakness of productivity growth in the UK following the financial crisis can be accounted for by shifts in the distribution of firm-level productivity and changes in the composition of the business population.

A new approach to capture disequilibrium by Pascal Michaillat (LSE) and Emmanuel Saez (UC Berkeley)
In the paper 'Aggregate Demand, Idle Time, and Unemployment, Pascal Michaillat, together with Emmanuel Saez, has developed a new framework to study business cycles. The framework builds on ideas from disequilibrium models of the 70s in which disequilibrium in the goods market and disequilibrium in the labour market interacted in a way to generate a rich pattern of observations. The earlier framework was discarded because it was cumbersome and had some problematic assumptions. Nevertheless, with the disappearance of this framework from macroeconomic debates we lost some mechanisms that are not present in the set of models that it was replaced by. The framework of Pascal Michaillat and Emmanuel Saez overcome the problems of the earlier framework by using insights from modern matching theories without giving up the key interactions between the different markets. Moreover, their framework is remarkably simple and could very well become a key tool to teach business cycles to many generations of students at different levels. This paper is forthcoming in the Quarterly Journal of Economics, a top five economic journal.

Deflationary spirals by Wouter Den Haan (LSE), Pontus Rendahl (Cambridge), and Markus Riegler (Univ. of Bonn)
A related contribution is a large computational project carried out by Wouter Den Haan, Pontus Rendahl, and Markus Riegler. The results are described in the paper 'Unemployment (fears) and Deflationary Spirals. These authors have developed a model with heterogeneous agents in which agents can only partially insure themselves against unemployment spells. Several computational challenges had to be met to get the framework running. Preliminary results indicate that frictions in the labour market combined frictions in financial markets and nominal sticky wages can substantially deepen recessions. Different from the Michaillat-Saez framework is that the DenHaan-Rendahl-Riegler approach not only introduces matching frictions, but also explicitly models the behaviour of individual agents in the economy. Frictions in financial markets limit the ability of agents to ensure themselves against bad outcomes. This induces an increase in precautionary savings (especially in liquid and non-risky form) during bad times. The increase in savings corresponds to a decrease in consumption (aggregate demand). The reduction in the demand for consumption leads to downward pressure on prices, which in the presence of sticky nominal wages leads to reduction in the real value of profits. This leads to a reduction in the demand for labour, which in turn generates a further increase in precautionary savings.

Housing market by Rachel Ngai (LSE) and Silvana Tenreyro (LSE). In the paper 'Hot and Cold Seasons in the Housing Market,' published in the American Economic Review, Rachel Ngai and Silvana Tenreyro show that the matching framework developed by CFM Chairman and Nobel Laureate Christopher Pissarides (together with Douglas Diamond and Dale Mortensen) can also be understood to understand why there are such large seasonal fluctuations in house prices. If house prices are substantially more expensive during particular seasons and if this is fully predictable, then the question is why buyers do not buy during the season when prices are cheaper. The explanation bought forward by the authors is that during the 'high price' season buyers do get something in return for their higher price, namely typically a better match for their personal demands, since during the high price season the volume is higher, which makes it easier for the buyer to get the features it is looking for. So although the price may seem expensive taking into account objective features, the price does not look (too) high for a buyer who has found the house with the desired features.

Networks and macroeconomics by David Baquee (LSE) and Vasco Carvalho (Cambridge). Trade is a central and vital element of any market economy. The simplest approach is to assume that there are no frictions and that transaction partners can find each other without incurring any costs. For example, to describe the market mechanism of competitive markets, economists use a fictitious agent, the Walrasian auctioneer, who collects information and then calculates the price at which demand equals supply. This approach is popular, even though Walrasian auctioneers do - of course - not exist. Behind this approach is faith in an 'invisible hand' which will ensure that actual market outcomes will correspond to the theoretical construction of frictionless markets. Other approaches, explicitly incorporate frictions that economic agents face in finding transaction partners. In fact, the last three research highlights are about models in which 'matching' frictions are present in at least one key market. But the matching frictions are captured in a reduced-form manner. Moreover, the matching market is still a theoretical construction, which ignores key aspects of reality such as supply chains, the economy's input-output structure, and the geographical location of transaction partners. The idea of network theory is to incorporate into models the actual network through which individuals and firms do transactions. In such models, buyers (sellers) do not have free access to all sellers (buyers) in the economy, but rely on a select number of (nearby) trading partners.
CFM members David Baquee (LSE) and Vasco Carvalho (Cambridge) have incorporated network theory into macroeconomics models. In his paper 'Labor Intensity in an Interconnected Economy, David Baquee constructs network-adjusted labour intensity to characterize how much labour an industry uses. This measure does not only include the direct labour input of this sector, but also the labour inputs of the sectors that deliver to this sector. With this approach, it is possible to determine how fiscal stimulus directed at different sectors affect aggregate employment differently taking into account all the indirect effects that occur because of the trades that occur between sectors.
In the paper 'Network Origins of Aggregate Fluctuations,' published in Econometrica, Vasco Carvalho (joint with Daron Acemoglu, Asuman Ozdaglar, and Alireza Tahbaz-Salehi) develops a theoretical structure to address the question how shocks that hit individual sectors can affect the aggregate economy taking into account the economy's network structure. In the paper 'From Micro to Macro via Production Networks', Vasco Carvalho describes in an intuitive manner the importance and potential of this new exciting research approach.

Corporate Investment, Financing Constraints, and House Prices by Saleem Bahaj (Bank of England), Angus Foulis (Bank of England), and Gabor Pinter (Bank of England). The recent financial crisis has underlined the importance of house price fluctuations and frictions in financial intermediation. The financial crisis started out with severe drops in house prices, but the turmoil spread to financial markets such as money markets and the commercial paper markets. If financial markets do not function well, then this will restrict the ability of firms to finance ongoing operations and new investment. Empirical studies using micro-level data are essential to understand these distortions in financial markets. In the paper 'Collateral Channels,' Saleem Bahaj, Angus Foulis, and Gabor Pinter study the importance of regional house prices on corporate investment for firms in that region. The paper relies on a unique combination of UK datasets including firm-level accounting data matched (covering virtually the UK corporate sector) with loan- level residential mortgage data and transaction-level house price data. They show that a £1 increase in house prices increases corporate investment with £0.04. This is a notable study for several reasons. First, it is remarkable that a link can be made between price developments in residential real estate and regional firm activities. Second, the detailed data set makes it possible to distinguish the different channels through which higher house prices can lead to more firm activity. The authors show that most of the effect is due to a direct collateral channel, that is changes in the value of residential affect lending because it affect the value of the collateral used to secure the loan.
Exploitation Route The research done by the CFM researchers can be used by others in the following ways.
1. Several of the research consisted of developing new methodologies. An important example is the development of computer algorithm to solve modern macroeconomic models. Another example, is the development of new theoretical frameworks such as the network frameworks developed by David Baqaee and Vasco Carvalho.
2. The CFM focuses on policy relevant research. A lot of the research is useful for policy makers and there is a lot of interaction between the university branches of the CFM with its policy branch (the Bank of England) and its policy-analysis branch (NIESR) as well as with policy makers outside the CFM.
Sectors Creative Economy,Financial Services, and Management Consultancy,Government, Democracy and Justice,Other
URL http://www.centreformacroeconomics.ac.uk/cfmadditionalinformation.pdf
 
Description The CFM is involved in many activities. More information can be found at 1. Our online document with background information available at http://www.centreformacroeconomics.ac.uk/cfmadditionalinformation.pdf 2. The website where we make teaching material available: http://www.centreformacroeconomics.org 3. Our main website: http://www.centreformacroeconomics.ac.uk/Home.aspx Below we discuss some of the ways we have achieved impact on non-academic audiences. CFM Survey One of the more notable findings for this reporting period is the impact of the monthly CFM survey which informs the public about views held by prominent UK-based economists on important macroeconomic and public policy questions. Responses from this survey have been used by media houses to inform the general public, to substantiate policy positions and to provide a platform for discussion of topical economic issues. The results of the CFM monthly survey have been referenced on numerous occasions in The Times, The Independent, Wall Street Journal etc. and have been discussed on social media outlets such as twitter. CFM Teaching Material Many professors develop marvellous teaching material. Often access is limited, because the material is posted on university systems to which outsiders have no access or because the availability and/or content of this material is unknown. The CFM has created a completely new website, http://www.centreformacroeconomics.org, to collect teaching material and software that is useful for students. At this point, the website only provides material for graduate-level courses, but we plan to collect material relevant for undergraduate students in the future. CFM-LSE Summer School The CFM sponsors two one-week Macroeconomics Summer Courses taught at the LSE. The first week course is taught by CFM member professor Wouter Den Haan and Dr. Petr Sedlacek of the University of Bonn. The second week course is taught by CFM members Wouter Den Haan and Dr. Pontus Rendahl. These courses are taken by PhD students from across the world, researchers at policy institutions, and some university academics. Students attend a three-hour lecture in the morning. In the afternoon, they work in groups to complete especially designed computer assignment that use the tools taught in the morning. The lecturers and a group of teaching assistants are available to help them with these assignments. These courses have been a big success and have filled up to full capacity of 60 students per course each year. Student evaluations are very favourable. For example, in 2014, all students gave an overall course ranking of very good or good. In 2015, these numbers were 98% and 97%. Other CFM activities There is a wide range of other activities organized by the CFM and its members that go beyond the standard provision of teaching and supervising. These activities are undertaken to nurture the development of young academics. For example, Shengzing Zhang (LSE) has been organizing a weekly reading group in which PhD discuss new and classic papers. At UCL a similar reading group is held every week for PhD students and young faculty. The LSE branch also organizes informal meetings in which students and faculty discuss current events (such as the Eurozone crisis) and the different ways one can approach economic research questions. These debates have benefitted a lot from the presence of Lord Mervyn King, former governor of the Bank of England, and Sir Charles Bean, former deputy-governor of the Bank of England, who joined the LSE and the CFM when they left the Bank of England. All three universities have organized small scale conferences where we invite stars in the field to attend and ask our young faculty to present. One example is the 2014 CFM conference in honour of Robert Barro. Professor Barro was so impressed by the presentation of Pascal Michaillat the he ask Pascal to submit his paper to the Journal of Quarterly Economics, a top-5 economics journal. CFM Public Lecture Series The CFM frequently organizes public lectures given by a variety of speakers, including academic economists, policy makers, popular authors, and journalists. These lectures attract a wide range of attendees, including secondary school students, students from institutions that are part of the CFM as well as students from other universities, journalists, civil servants, and members of the general public. In terms of topics, these public lectures have covered many aspects of macroeconomics, including the financial crisis, poverty and economic development, monetary policy, regulation of financial markets, and the morality of markets
First Year Of Impact 2014
Sector Digital/Communication/Information Technologies (including Software),Education,Financial Services, and Management Consultancy,Government, Democracy and Justice,Retail,Other
Impact Types Societal,Economic
 
Description Minutes of the Bank of Mauritius July 2014 Silvana Tenreyro
Geographic Reach Australia 
Policy Influence Type Citation in other policy documents
Impact International and Domestic Economic Development since the last meeting of April 2014
URL https://www.bom.mu/pdf/Monetary_Policy/meetings/MoM_20140728.pdf
 
Description Press release from the Bank of Mauritius
Geographic Reach Multiple continents/international 
Policy Influence Type Participation in advisory committee
Impact BANK OF MAURITIUS Website: https://www.bom.mu COMMUNIQUÉ MONETARY POLICY COMMITTEE Further to the amendments brought to section 54(1) of the Bank of Mauritius Act 2004 in December 2012 relating to the composition of the Monetary Policy Committee (MPC), the MPC has been reconstituted - Press release on the reconstitution of the Bank of Mauritius MPC Committee
 
Description ESRC Cross Centre Grant
Amount £1 (GBP)
Organisation Economic and Social Research Council (ESRC) 
Sector Public
Country United Kingdom of Great Britain & Northern Ireland (UK)
Start  
 
Description Horizon 2020, A Dynamic Economic and Monetary Union - Morten Ravn
Amount € 2,500,000 (EUR)
Organisation European Commission (EC) 
Sector Public
Country European Union (EU)
Start 06/2015 
End 06/2018
 
Description Leverhulme Trust - Silvana Tenreyro
Amount £65,000 (GBP)
Funding ID SF140036 
Organisation British Academy 
Sector Public
Country United Kingdom of Great Britain & Northern Ireland (UK)
Start 10/2015 
End 09/2016
 
Description Macroeconomic Fluctuations and Inequality - Pascal Michaillat
Amount £237,000 (GBP)
Funding ID ES/K008641/1 
Organisation Economic and Social Research Council (ESRC) 
Sector Public
Country United Kingdom of Great Britain & Northern Ireland (UK)
Start 10/2013 
End 09/2016
 
Description Macroeconomic Policy Over The Business Cycle - Pascal Michaillat
Amount £75,519 (GBP)
Funding ID INO14-00018 
Organisation Institute For New Economic Thinking 
Sector Charity/Non Profit
Country United States of America
Start 01/2014 
End 12/2015
 
Description Monetary Policy, Asset Prices and the Liquidity of the Financial Market
Amount £9,748 (GBP)
Funding ID SG151885 
Organisation British Academy 
Sector Public
Country United Kingdom of Great Britain & Northern Ireland (UK)
Start 04/2016 
End 09/2017
 
Description New perspectives on Inflation (INFL)
Amount £1,360,928 (GBP)
Funding ID GA: 682288 
Organisation European Commission (EC) 
Sector Public
Country European Union (EU)
Start 07/2016 
End 06/2021
 
Description Research on Macroeconomic Fluctuations and Trade (MACROTRADE)
Amount £986,798 (GBP)
Funding ID GA: 681664 
Organisation European Commission (EC) 
Sector Public
Country European Union (EU)
Start 10/2016 
End 09/2021
 
Title CFM Teaching Material Website 
Description Many professors develop marvellous teaching material. Often access is limited, because the material is posted on university systems to which outsiders have no access or because the availability and/or content of this material is unknown. The CFM has created a completely new website, http://www.centreformacroeconomics.org, to collect teaching material and software that is useful for students. At this point, the website only provides material for graduate - level courses, but we plan to collect material relevant for undergraduate students in the future. 
Type Of Material Improvements to research infrastructure 
Year Produced 2015 
Provided To Others? Yes  
Impact students and academics have lauded the site, They find it useful to have a collection of different teaching material and software at one location http://www.centreformacroeconomics.org 
URL http://www.centreformacroeconomics.org
 
Title New richer framework for monetary analysis and design 
Description Giancarlo Corsetti and co-authors who developed a , new richer framework for monetary analysis and design encompassing the trade-offs between output gaps and misalignment in asset prices and/or imbalances in saving and borrowing, also expressed in terms of possibly quantifiable gaps. 
Type Of Material Improvements to research infrastructure 
Year Produced 2016 
Provided To Others? Yes  
Impact New richer framework for monetary analysis and design 
 
Description A Vintage Model of Growth 
Organisation Yale University
Country United States of America 
Sector Academic/University 
PI Contribution Collaboration with Aleh Tsyvinki of Yale University
Start Year 2013
 
Description A dynamic multiregional overlapping generations computable general equilibrium model for the study of population ageing in the UK 
Organisation University of Ottawa
Country Canada 
Sector Academic/University 
PI Contribution Collaboration with Prof. Marcel Merette of the University of Ottawa
Start Year 2012
 
Description Austerity, Default and Optimal Fiscal Policy - morten Ravn 
Organisation University College London (UCL)
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Development of working papers and publications
Collaborator Contribution Development of working papers and publications
Impact No impact yet
Start Year 2013
 
Description Cars in the Great Recession - Morten Ravn 
Organisation Ca' Foscari University of Venice
Country Italy, Italian Republic 
Sector Academic/University 
PI Contribution Complimentary research into Cars in the Great Recession which resulted in presentations/papers, Deeper relationships, more discussion, greater ability to impact
Collaborator Contribution Complimentary research into Cars in the Great Recession which resulted in presentations/papers, Deeper relationships, more discussion, greater ability to impact
Impact No impact yet
Start Year 2013
 
Description Collaboration with Andrea Tesei, Queen Mary 
Organisation Queen Mary University of London (QMUL)
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Collaboration with Andrea Tesei, Queen Mary
Start Year 2013
 
Description Collaboration with Christian Siegel - University of Exeter 
Organisation University of Exeter
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Collaboration with Christian Siegel - University of Exeter
Start Year 2013
 
Description Collaboration with Dominic Rohner - Lausanne 
Organisation University of Lausanne
Country Switzerland, Swiss Confederation 
Sector Academic/University 
PI Contribution Collaboration with Dominic Rohner - Lausanne
Start Year 2013
 
Description Collaboration with John Coleman Duke University: The Fuqua School of Business 
Organisation Duke University
Department Duke University Medical Centre
Country United States of America 
Sector Academic/University 
PI Contribution Collaboration with John Coleman Duke University: The Fuqua School of Business
Start Year 2013
 
Description Collaboration with Miklós Koren, Central European University 
Organisation Central European University (CEU)
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Collaboration with Miklós Koren, Central European University
Start Year 2013
 
Description Collaboration with S. Ardagna - Goldman Sachs 
Organisation Goldman Sachs
Country United States of America 
Sector Private 
PI Contribution Collaboration with S. Ardagna - Goldman Sachs
Start Year 2013
 
Description Collaborative visit to Allan Drazen, University of Maryland by Ethan Ilzetzki 
Organisation University of Maryland
Country United States of America 
Sector Academic/University 
PI Contribution Collaborative visit to Allan Drazen, University of Maryland by Ethan Ilzetzki
Start Year 2013
 
Description Collaborative visit to Emmanuel Saez by Pascal Michaillat 
Organisation University of California
Department University of California, Berkeley
Country United States of America 
Sector Academic/University 
PI Contribution Collaborative visit to Emmanuel Saez by Pascal Michaillat
Start Year 2013
 
Description Collaborative visit to George Akerlof 
Organisation University of California
Department University of California, Berkeley
Country United States of America 
Sector Academic/University 
PI Contribution Collaborative visit to George Akerlof by Pascal Michaillat
Start Year 2013
 
Description Collaborative visit to University of Frankfurt by Ethan Ilzetzki 
Organisation University of Frankfurt
Country Germany, Federal Republic of 
Sector Academic/University 
PI Contribution Collaborative visit to University of Frankfurt by Ethan Ilzetzki
Start Year 2013
 
Description Comparing Housing Booms and Mortgage Supply - Angus Armstrong 
Organisation Economic and Social Research Council (ESRC)
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Public 
PI Contribution Collaborative research into he comparison of Housing booms and mortgage supply
Collaborator Contribution Collaborative research into he comparison of Housing booms and mortgage supply
Impact No impact yet
Start Year 2014
 
Description Consultant on Macroeconomics at the Bank of England 
Organisation Bank of England
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Public 
PI Contribution Consultant on Macroeconomics at the Bank of England - Wouter Den Haan
Start Year 2013
 
Description Dawn Holland - Adviser to HM Treasury 
Organisation HM Treasury
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Public 
PI Contribution Dawn Holland - Adviser to HM Treasury
Start Year 2013
 
Description Developing methodology to forecast world trade 
Organisation Association of European Conjecture Organisations
Country Belgium, Kingdom of 
Sector Public 
PI Contribution Developing methodology to forecast world trade with the AIECE working group on world trade
Start Year 2013
 
Description Federal Reserve Bank of St Louis 
Organisation Federal Reserve Bank of St. Louis
Country United States of America 
Sector Charity/Non Profit 
PI Contribution Visit by Roman Sustek to Federal Reserve Bank of St Louis
Start Year 2013
 
Description Firm Dynamics, Growth and Contractual Frictions 
Organisation University of Pennsylvania
Country United States of America 
Sector Academic/University 
PI Contribution Collaboration with Ufuk Akcigit of the University of Penn.
Start Year 2013
 
Description Holland, D. and Kirby, S. -Editors of Economic Growth special edition of National Institute Economic Review 
Organisation National Institute of Economic and Social Research (NIESR)
Department National Institute Economic Review
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Charity/Non Profit 
PI Contribution Holland, D. and Kirby, S. -Editors of Economic Growth special edition of National Institute Economic Review
Start Year 2013
 
Description Input Demand and Trade 
Organisation Centre for Research in Economics and Statistics (CREST)
Country France, French Republic 
Sector Academic/University 
PI Contribution Collaboration with Claire Lelarge, CREST (Paris)
Start Year 2013
 
Description Job Uncertainty and Deep Recessions - Morten Ravn 
Organisation University College London (UCL)
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Ongoing research to result in working papers and publications
Collaborator Contribution Ongoing research to result in working papers and publications
Impact No impact yet
Start Year 2012
 
Description MIKLOS KOREN, CEU 
Organisation Central European University (CEU)
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Collaboration with MIKLOS KOREN, CEU by Silvana Tenreyro
Start Year 2013
 
Description Member at Large - CEMFI 
Organisation Centre for Monetary and Financial Studies (CEMFI)
Country Spain, Kingdom of 
Sector Academic/University 
PI Contribution Silvana Tenreyro - Member at large. Advice on journal, open access, future EEA conference at CEMFI
Start Year 2013
 
Description Michael McMahon - Research advice and work on the Monetary Transmission Team in Monetary Analysis 
Organisation Bank of England
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Public 
PI Contribution Michael McMahon - Research advice and work on the Monetary Transmission Team in Monetary Analysis at the Bank Of England
Start Year 2013
 
Description Mortgages and monetary policy 
Organisation Federal Reserve Bank of St. Louis
Country United States of America 
Sector Charity/Non Profit 
PI Contribution Collaboration with Carlor Garriga of the Federal Reserve Bank of St. Louis
Start Year 2013
 
Description Office for National Statistics 
Organisation Office for National Statistics (ONS)
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Public 
PI Contribution Office for National Statistics
Start Year 2013
 
Description Partnership with Massimo Morelli, Columbia University 
Organisation Columbia University
Country United States of America 
Sector Academic/University 
PI Contribution Partnership with Massimo Morelli, Columbia University
Start Year 2013
 
Description Pascal Michaillat Collaboration with Emmanuel Saez 
Organisation University of California
Department University of California, Berkeley
Country United States of America 
Sector Academic/University 
PI Contribution Pascal Michaillat Collaboration with Emmanuel Saez of the University of California, Berkeley on macroeconomic research
Start Year 2013
 
Description Political Economy of Austerity 
Organisation University of Maryland
Country United States of America 
Sector Academic/University 
PI Contribution Ethan Ilzetzki collaboration with Alan Drazen of the University of Maryland
Start Year 2013
 
Description Professor Marcel Merette of University of Ottawa 
Organisation University of Ottawa
Country Canada 
Sector Academic/University 
PI Contribution Professor Marcel Merette of University of Ottawa
Start Year 2013
 
Description Sectoral shocks and monetary policy in the United Kingdom - Stephen Millard 
Organisation Cardiff University
Department Cardiff Business School
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Complimentary research into Sectoral shocks and monetary policy in the United Kingdom
Collaborator Contribution Complimentary research into Sectoral shocks and monetary policy in the United Kingdom
Impact Complimentary research into Sectoral shocks and monetary policy in the United Kingdom
Start Year 2011
 
Description Silvana Tenreyro - ASSOCIATE EDITOR JOURNAL OF EUROPEAN ECONOMIC ASSOCIATION 
Organisation Journal of the European Economic Association
Country Global 
Sector Academic/University 
PI Contribution Silvana Tenreyro - ASSOCIATE EDITOR JOURNAL OF EUROPEAN ECONOMIC ASSOCIATION
Start Year 2013
 
Description Silvana Tenreyro - External MPC Member at the Central Bank of Mauritius 
Organisation Bank of Mauritius
Country Mauritius, Republic of 
Sector Public 
PI Contribution Silvana Tenreyro - External MPC Member at the Central Bank of Mauritius
Start Year 2013
 
Description Simon Kirby - Adviser to Australian High Commission 
Organisation Australian High Commission UK
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Public 
PI Contribution Simon Kirby - Adviser to Australian High Commission
Start Year 2013
 
Description Simon Kirby - Adviser to Malaysian High Commission 
Organisation Malaysian High Commission
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Public 
PI Contribution Simon Kirby - Adviser to Malaysian High Commission
Start Year 2013
 
Description The effect of the financial crisis on TFP growth: A general equilibrium approach - Stephen Millard 
Organisation Durham University
Department Durham University Business School
Country United Kingdom of Great Britain & Northern Ireland (UK) 
Sector Academic/University 
PI Contribution Complimentary research into The effect of the financial crisis on TFP growth: A general equilibrium approach
Collaborator Contribution Complimentary research into The effect of the financial crisis on TFP growth: A general equilibrium approach
Impact Working papers, complimentary research
Start Year 2012
 
Description Training in macro-modelling for members of the Vietnamese Government 
Organisation Government of Vietnam
Country Vietnam, Socialist Republic of 
Sector Public 
PI Contribution Training in macro-modelling for members of the Vietnamese Government
Start Year 2013
 
Description Wouter DenHaan - Unemployment Fears, Precautionary Savings, and Aggregate Demand 
Organisation Institute For New Economic Thinking
Country United States of America 
Sector Charity/Non Profit 
PI Contribution Generation of data and models, analysis of data
Collaborator Contribution Generation of data and models, analysis of data
Impact Currently ongoing, production of research papers etc.
Start Year 2013
 
Description Markus Brunnermeier and Harold James lecture: The Euro and the Battle of Ideas 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Why is the Euro in trouble? A string of economic difficulties in Greece, Ireland, Spain, Italy, and other Eurozone nations has left observers wondering whether the currency union can survive. Markus Brunnermeier and Harold James argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, and how these seemingly incompatible differences can be reconciled to ensure Europe's survival.
Year(s) Of Engagement Activity 2016
URL http://www.lse.ac.uk/website-archive/newsAndMedia/videoAndAudio/channels/publicLecturesAndEvents/pla...
 
Description (Mis)Allocation Effects of an Overpaid Public Sector - Various presentations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentations given by Tiago Cavalcanti at various locations, Sao Paulo, Konstanz, Illinois, Evora which sparked questions and discussions afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description 2014 Autumn Statement - CFM December 2014 Survey 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact In the wake of the Chancellor's Autumn Statement on Wednesday, the Centre for Macroeconomics (CFM) has conducted its monthly survey of leading UK-based macroeconomists.
The responses indicate overwhelming disagreement with the view that the scale of the planned reduction in total managed government expenditure is realistic. They also indicate disagreement with the view that observed shortfalls in tax receipts make a strong case for higher tax rates.


The results of the survey was mentioned in the Financial Times http://blogs.ft.com/westminster/2014/12/how-osbornes-giveaways-were-overshadowed-by-gruesome-borrowing-figures/?Authorised=false; The Daily Mail http://www.dailymail.co.uk/money/markets/article-2862572/British-winner-Nobel-Prize-economics-warns-George-Osborne-s-plans-shrink-State-smallest-80-years-not-credible.html; Pieria http://www.pieria.co.uk/articles/the_chancellors_incredible_spending_cuts; The Guardian http://www.theguardian.com/uk-news/2014/dec/07/autumn-statement-five-things-we-learnt-about-economy; The Economist http://www.economist.com/blogs/freeexchange/2014/12/britains-autumn-statement-1?fsrc=scn/tw_ec/dodging_the_debate and New Statesman http://www.newstatesman.com/politics/2015/02/hard-choices-lie-ahead-heres-how-next-government-might-make-them
Year(s) Of Engagement Activity 2014,2015
URL http://cfmsurvey.org/
 
Description 2014 China International Conference in Finance - Shengxing Zhang 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Discussant at 2014 China International Conference in Finance this discussion sparked questions and requests for more information

Increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description 2014 Vienna Macro Café - Shengxing Zhang 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Shengxing Zhang was a discussant at 2014 Vienna Macro Café this talk sparked questions and discussion afterwards

Increase in requests for further information
Year(s) Of Engagement Activity 2014
 
Description A "new" UK industrial strategy ? 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.

Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.

The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).

Sparked questions, discussion and debate afterwards, lead to increased interest in the work of CFM and increased interest in related subject areas
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/%E2%80%9Cnew%E2%80%9D-uk-industrial-strategy
 
Description A Budget that works for women 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Policymakers/politicians
Results and Impact A conference on the impact of government economic policy on women and to look at policies that will encourage greater economic equality.
Year(s) Of Engagement Activity 2017
URL http://www.lse.ac.uk/Events/2017/03/20170301t0900v32L104/A-Budget-That-Works-For-Women
 
Description A Growth and Employment Agenda for Europe 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Estoril Conference: Global Challenges Local Answers, presentation given by Chris Pissarides which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description A Model of Aggregate Demand and Unemployment 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation at the NBER Summer Institute Conference in July 2013

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description A Model of Aggregate Demand and Unemployment 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Research Seminar presentation at University of California, Berkeley which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description A Model of Aggregate Demand and Unemployment 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation at CREI-DEE Research Seminar Series

Requests for more information and further discussion
Year(s) Of Engagement Activity 2013
 
Description A Model of Aggregate Demand and Unemployment 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The Society for Economic Dynamics Meeting in Seoul, South Korea. The program was made up from a selection of invited and submitted papers. from any area in economics This talk sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description A Model of Aggregate Demand and Unemployment 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Professional Practitioners
Results and Impact Presentation given at the Bank of Austria by Pascal Michaillat which sparked questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description A Model of Aggregate Demand and Unemployment 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Lecture given at the Bank of Spain and various venues by Pascal Michaillat which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013,2014
 
Description A Model of Aggregate Demand and Unemployment 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Professional Practitioners
Results and Impact Presentation made at the Federal Reserve Bank of San Francisco by Pascal Michaillat which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description A Positive Analysis of Tax Reform 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Ethan Ilzetzki at the European Union Institute on 3/12/2013 which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description A Positive Analysis of Tax Reform 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Ethan Ilzetzki at the University of Manchester on 22/10/2013 which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description A Positive Analysis of Tax Reform - Ethan Ilzetzki 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by ethan Ilzetzki at the Goethe University Frankfurt which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description A dynamic model of financial balances for the United Kingdom - Royal Holloway College 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Stephen Millard at Royal Holloway College which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Accounting for Mismatch Unemployment 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Thijs van Rijns at CFCM, University of Nottingham

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description Accounting for Mismatch Unemployment 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Individual Seminar given at University of Exeter Business School by Thijs van Rijn which generated questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Accounting for Mismatch Unemployment 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Thijs van Rijns, keynote speaker at SIRE Young Researchers' Forum Edinburgh
25 October 2013. This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Adaptive forecasting in the presence of recent and ongoing structural change 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Professional Practitioners
Results and Impact Presentation given at UWE, Bristol by Simon Price

increased requests for information and involvement
Year(s) Of Engagement Activity 2013
 
Description Aggregate Demand, the Labor Market and Macroeconomic Policy - Cambridge University 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Wouter DenHaan which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Aggregate Fluctuations: Causes and Consequences 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Morten Ravn at Conference organized with Northwestern University in Sicily which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Aggregate demand, the labour market, and macroeconomic policy 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Pontus Rendahl, Organiser and presenter of paper which lead to more discussion and collaboration

Discussion and requests for more information and possible collaboration
Year(s) Of Engagement Activity 2014
 
Description An economical business-cycle model 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at Queen Mary University and bank of England which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description An economical business-cycle model 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at BANK OF ENGLAND AND CENTRE FOR MACROECONOMICS

CONFERENCE ON MACROECONOMICS, UNDERSTANDING LOW GROWTH. This talk sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Anchoring the yield curve using survey expectations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Professional Practitioners
Results and Impact Presentation by Raffaella Giacomini which sparked questions and discussion afterwards
The dynamic behavior of the term structure of interest rates is difficult to replicate with models, and even models with a proven track record of empirical performance have underperformed since the early 2000s. On the other hand, survey expectations are accurate predictors of yields, but only for very short maturities. We argue that this is partly due to the ability of survey participants to incorporate information about the current state of the economy as well as forward-looking information such as that contained in monetary policy announcements. We show how the informational advantage of survey expectations about short yields can be exploited to improve the accuracy of yield curve forecasts given by a base model. We do so by employing a flexible projection method that anchors the model forecasts to the survey expectations in segments of the yield curve where the informational advantage exists and transmits the superior forecasting ability to all remaining yields. The method implicitly incorporates into yield curve forecasts any information that survey participants have access to, without the need to explicitly model it. We document that anchoring delivers large and significant gains in forecast accuracy for the whole yield curve, with improvements of up to 52% over the years 2000-2012 relative to the class of models that are widely adopted by financial and policy institutions for forecasting the term structure of interest rates.

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Anchoring the yield curve using survey expectations 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The dynamic behavior of the term structure of interest rates is difficult to replicate with models, and even models with a proven track record of empirical performance have underperformed since the early 2000s. On the other hand, survey expectations are accurate predictors of yields, but only for very short maturities. We argue that this is partly due to the ability of survey participants to incorporate information about the current state of the economy as well as forward-looking information such as that contained in monetary policy announcements. We show how the informational advantage of survey expectations about short yields can be exploited to improve the accuracy of yield curve forecasts given by a base model. We do so by employing a flexible projection method that anchors the model forecasts to the survey expectations in segments of the yield curve where the informational advantage exists and transmits the superior forecasting ability to all remaining yields. The method implicitly incorporates into yield curve forecasts any information that survey participants have access to, without the need to explicitly model it. We document that anchoring delivers large and significant gains in forecast accuracy for the whole yield curve, with improvements of up to 52% over the years 2000-2012 relative to the class of models that are widely adopted by financial and policy institutions for forecasting the term structure of interest rates. This generated questions and discussion

Increase in requests for further information
Year(s) Of Engagement Activity 2014
 
Description Anchoring the yield curve using survey expectations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Raffaella Giacomini which sparked questions and discussion afterwards
The dynamic behavior of the term structure of interest rates is difficult to replicate with models, and even models with a proven track record of empirical performance have underperformed since the early 2000s. On the other hand, survey expectations are accurate predictors of yields, but only for very short maturities. We argue that this is partly due to the ability of survey participants to incorporate information about the current state of the economy as well as forward-looking information such as that contained in monetary policy announcements. We show how the informational advantage of survey expectations about short yields can be exploited to improve the accuracy of yield curve forecasts given by a base model. We do so by employing a flexible projection method that anchors the model forecasts to the survey expectations in segments of the yield curve where the informational advantage exists and transmits the superior forecasting ability to all remaining yields. The method implicitly incorporates into yield curve forecasts any information that survey participants have access to, without the need to explicitly model it. We document that anchoring delivers large and significant gains in forecast accuracy for the whole yield curve, with improvements of up to 52% over the years 2000-2012 relative to the class of models that are widely adopted by financial and policy institutions for forecasting the term structure of interest rates.

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Annual SED Conference - Toronto 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Wouter DenHaan which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Are academic economists 'in touch' with voters and politicians? 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.
The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).
Sparked questions, discussion and debate afterwards, lead to increased interest in the work of CFM and increased interest in related subject areas
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/are-academic-economists-%E2%80%98-touch%E2%80%99-voters-and-politicians
 
Description As house prices surge, can the Bank of England help the financial sector absorb the risks? - The Conversation 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Article in The Conversation on the CFM July Survey which generated interest, questions and discussion

Increase in requests for further information
Year(s) Of Engagement Activity 2014
 
Description Attention in Economics 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Ran Speigler in Copenhagen

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description BANK OF ENGLAND AND CENTRE FOR MACROECONOMICS Conference on Macroeconomics, UNDERSTANDING LOW GROWTH 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Bank of England, Prudential Regulation Authority (PRA),

Auditorium, 20 Moorgate, London EC2R 6DA

London, 9-10 December 2013
This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description BBC Inflation Calculator 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact BBC Inflation Calculator by A Reuben

http://www.bbc.co.uk/news/business-22523612

Increased requests for more information
Year(s) Of Engagement Activity 2013
URL http://www.bbc.co.uk/news/business-22523612
 
Description BBC Radio 4 - The World at One 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Media (as a channel to the public)
Results and Impact Wouter Den Haan contributed to the BBC Radio 4 - The World at One in which there was discussion on the next GDP figures in the UK, what GDP really is, how it is measured and why it matters. This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description Bank of England-CEPR monetary policy round table 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Bank of England-CEPR monetary policy round table, 17th December 2013 at the Bank of England. This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Bank on It: a show about the financial system for five-year-olds 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Schools
Results and Impact Bank on It: a show about the financial system for five-year-olds

A new promenade piece from the Theatre-Rites starts with a broken ATM and an evasive bank-manager - then goes on to explain the vagaries of economics to kids

http://www.theguardian.com/stage/2013/jun/21/bank-on-it-financial-system-theatre

Resulted in many questions and new ideas
Year(s) Of Engagement Activity 2013
 
Description Bounded Rationality in Choice 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Ran Spiegler which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Brexit and financial market volatility 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.

Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.

The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).

Sparked questions, discussion and debate afterwards, lead to increased interest in the work of CFM and increased interest in related subject areas
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/brexit-and-financial-market-volatility
 
Description Brexit: the potential of a financial catastrophe and long-term consequences for the UK financial sector 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.

Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.

The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).

Sparked questions, discussion and debate afterwards, lead to increased interest in the work of CFM and increased interest in related subject areas
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/brexit-potential-financial-catastrophe-and-long-term-consequences-uk-fi...
 
Description CEPR Macroeconomics and Growth Programme Meeting 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Study participants or study members
Results and Impact Two day series of presentations and discussion on research and policy.
Year(s) Of Engagement Activity 2015
URL http://cepr.org/event/50000
 
Description CFM Public Discussion - The Future of Argentina: a conversation with Laura Alonso and Martín Lousteau 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact CFM Public Discussion - The Future of Argentina: a conversation with Laura Alonso and Martín Lousteau

Sparked questions and discussion and requests for more information
Year(s) Of Engagement Activity 2014
 
Description CFM Public Lecture with The BoE Financial Policy Committee, External Member Richard Sharp 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Public/other audiences
Results and Impact CFM presented The BoE Financial Policy Committee, an experiment in macro prudential management and work in progress: an External Member's view with Richard Sharp

Requests for more information
Year(s) Of Engagement Activity 2014
 
Description CFM Survey, Autumn Statement & Charter for Budgetary Responsibility (December 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
In the December 2015 Centre for Macroeconomics survey, we asked for the panel's views about the Chancellor's plans for debt reduction over the rest of this Parliament that were announced in the Autumn Statement on 25 November. We also asked about the economic rationale for the Charter for Budgetary Responsibility that was announced in the summer. A significant number of respondents felt that the plans for debt reduction were not appropriate and that the Chancellor's Charter for Budgetary Responsibility would not help underpin the credibility of fiscal policy.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/autumn-statement-charter-budgetary-responsibility
 
Description CFM Survey, Autumn Statement (December 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
In the wake of the Chancellor's Autumn Statement on Wednesday, the Centre for Macroeconomics (CFM) has conducted its monthly survey of leading UK-based macroeconomists.
The responses indicate overwhelming disagreement with the view that the scale of the planned reduction in total managed government expenditure is realistic. They also indicate disagreement with the view that observed shortfalls in tax receipts make a strong case for higher tax rates.
The experts have never been as united in their views since the beginning of the CFM survey in April of this year. In contrast to previous surveys, this survey was not announced in advance and panel members were given only half a day to answer the question after the survey was opened. Nevertheless, 28 of the 42 panel members participated in this survey.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/2014-autumn-statement
 
Description CFM Survey, Brexit and financial market volatility (February 2016) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
The February 2016 Centre for Macroeconomics survey of experts asked the panel to opine on whether the possibility of the UK leaving the European Union - 'Brexit' - would lead to volatility in financial markets and the broader economy. There was near unanimity that the Brexit question will increase financial volatility and will pose economic costs in the medium term. Financial volatility can be expected to be especially high if polls remain close. Lack of clarity about the UK's economic arrangements with the EU following Brexit are the main concern for the medium term.
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/brexit-and-financial-market-volatility
 
Description CFM Survey, China's growth slowdown: likely persistence and effects (November 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
What are the prospects for the Chinese economy and its international impact? Three quarters of the experts in the Centre for Macroeconomics (CFM) monthly survey believe that China's annual growth rate will be less than 6% over the next ten years or so. But the panel is divided on whether the slowdown will have a significant impact on the UK economy.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/china%E2%80%99s-growth-slowdown-likely-persistence-and-effects
 
Description CFM Survey, Deal or no deal: The Greece standoff (June 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
A large majority of respondents think that these types of measures would have non-trivial negative effects on Greek GDP. Moreover, a majority thought that such measures could actually reduce the amount of money that creditors would eventually receive, for example, because it would have negative effects on Greed GDP.
Although quite a few respondents think that Greece could just as well throw in the towel and default on some of its debt right now, the majority think that this would not be beneficial right now.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/deal-or-no-deal-greece-standoff
 
Description CFM Survey, Devolving Income Tax Powers within the UK (November 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
This month's survey looks at the devolution of extensive new fiscal powers to Scotland following the independence referendum in September, which showed a majority of Scots preferred Scotland to be within the UK. The Smith Commission is overseeing the process of finding an agreement to 'strengthen the powers of the Scottish Parliament within the UK' (emphasis added). We therefore asked our respondents to answer our questions from the perspective of the whole UK, rather than from one constituent nation or another.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/devolving-income-tax-powers-within-uk
 
Description CFM Survey, ECB's quantitative easing (October 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
Will the risk-sharing arrangements within the European Central Bank's quantitative easing (QE) programme reduce its effectiveness? According to the latest monthly survey of the Centre for Macroeconomics (CFM) reported in this column, our panel of experts are exactly evenly divided. The written responses suggest that this divergence reflects differences in views about the channels through which QE operates.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/ecbs-quantitative-easing
 
Description CFM Survey, Economic Consequences of an Independent Scotland, (June 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
Would Scotland be better-off in economic terms as an independent country? Not according to an overwhelming majority of respondents to the third monthly survey of the Centre for Macroeconomics (CFM), summarised in this column. As the Scottish electorate prepares to vote on independence in September, a smaller majority of the CFM experts agree that the UK would be acting in its own economic interests by ruling out a monetary union with an independent Scotland.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/economic-consequences-independent-scotland-june-2014
 
Description CFM Survey, Euro Area Deflation and Risk for UK Economy (May 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
Although Eurozone inflation has persistently surprised on the downside and has been below 1% since October 2013, the UK macroeconomics profession is not convinced that this heralds a deflation. In the second monthly survey by the Centre for Macroeconomics (CFM), summarised in this column, a small majority of respondents do not think there is a significant risk of Eurozone deflation in the next two years. But nearly two thirds of respondents to the CFM survey think that sustained Eurozone deflation would pose a significant threat to the UK recovery.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/euro-area-deflation-and-risk-uk-economy-may-2014
 
Description CFM Survey, Greece's elections and the future of the Eurozone (January 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
If, as seems likely, the Syriza party wins the Greek election on 25 January, what will be the impact on the Eurozone? This column summarises the views of 40 UK-based experts polled by the Centre for Macroeconomics (CFM). A 60% majority of survey respondents do not think that a Syriza victory will cause interest-rate spreads for other countries in the Eurozone periphery to increase significantly or for a sustained period. But opinion is more evenly divided on whether core Eurozone countries and the EU should be open to renegotiating the Greek debt and the conditions of the Greek bailout.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/greece%E2%80%99s-elections-and-future-eurozone
 
Description CFM Survey, Market Turbulence and Growth Prospects (January 2016) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
The January 2016 Centre for Macroeconomics survey of experts asked for the panel's views on the significance of the recent falls in share prices, low oil prices and the slowdown in some emerging market economies. While all recognise the considerable uncertainty in the world economy, more than two thirds do not fear that these events will have a significant negative impact on the UK's economic recovery. The main argument is that any negative effect due to lower foreign demand and market instability is compensated by the benefits of lower oil prices.
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/market-turbulence-and-growth-prospects
 
Description CFM Survey, Migration Policy (August 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
This month's survey focuses on the impact of migration on the UK economy and the effectiveness of current government migration policies. Among respondents to the fifth monthly survey of the Centre for Macroeconomics (CFM), there is overwhelming support for the view that migration will increase the average income of current UK inhabitants. Moreover, the panel of experts thinks that current government policies are not effective in attracting the 'best and brightest' - in fact, they may even be doing the opposite.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/migration-and-uk-economy-august-2014
 
Description CFM Survey, Monetary policy and the zero lower bound (ZLB) (June 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
Does monetary policy really face a zero lower bound or could policy rates be pushed materially below zero per cent? And would the benefits of reforms to achieve negative policy rates outweigh the costs? This column, which reports the views of the leading UK-based macroeconomists, suggests that there is no strong support for reforming the monetary system to allow policy rates to be set at negative levels.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/monetary-policy-and-zero-lower-bound-zlb
 
Description CFM Survey, Prospects for Economic Growth in the UK (April 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
Fears that the financial crisis will have a significant negative impact on long-term UK economic growth are unfounded, according to a majority of the UK macroeconomics profession surveyed by the Centre for Macroeconomics (CFM). What's more, the CFM survey indicates some optimism of the UK's immediate capacity for higher growth: while roughly half of the respondents share the views of the Office of Budget Responsibility, the other half is substantially more optimistic about the capacity for the economy to recover.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/prospects-economic-growth-uk-april-2014
 
Description CFM Survey, Secular Stagnation (October 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
This month's questions concern the revival of interest in the idea of secular stagnation. The survey was conducted in the last week of September. A full list of written responses from our panel of experts can be found here. Only 24% (27% if we weigh by confidence) of respondents think that the Western economies have entered a period of secular stagnation. Indeed, several panel members question whether secular stagnation is a useful and well-defined concept and this may explain the lack of strong views on either side. Despite some ambivalence to the idea of secular stagnation, the number of respondents who think that policies should be more concerned about low real interest rates is substantially higher than the number that do not.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/secular-stagnation
 
Description CFM Survey, The Importance of Elections for UK Economic Activity (April 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
In the week before the dissolution of Parliament, the Centre for Macroeconomics asked its panel of experts about the effects of governments on aggregate economic activity.
The great majority of respondents disagree with the proposition that the coalition government's austerity policies have had a positive effect on aggregate economic activity. And an overwhelming majority of respondents agree that the outcome of the general election (assuming a stable government is formed) will have non-trivial consequences for economic activity.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/importance-elections-uk-economic-activity
 
Description CFM Survey, Transparency and the Effectiveness of Monetary Policy following the Warsh Review at the Bank of England (March 2015) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
Following the Warsh Review, the Bank of England plans to release its policy decisions, 'enhanced' meeting minutes and (once a quarter) the Inflation Report all at the same time. This column, which reports the views of the leading UK-based macroeconomists, reveals substantial support for the idea of simultaneously providing the different MPC documents. In order to make this possible, the Bank plans to change the structure of its Monetary Policy Committee meetings. When the proposed change in the structure is taken into account, the panel is split on the desirability of the Bank's plans.
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/transparency-and-effectiveness-monetary-policy-following-warsh-review-b...
 
Description CFM Survey, UK House Prices and Macro-Prudential Policy (July 2014) 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts.
How should UK policy-makers respond to potential dangers to the economy from the housing market? As this survey reports, a majority of respondents to the fourth monthly survey of the Centre for Macroeconomics (CFM) think that house price dynamics do pose a risk to the UK's recovery; and that macroprudential tools rather than traditional interest rate policy should be deployed to deal with this risk.
Coincidentally, while our survey was open the Bank of England's Financial Policy Committee (FPC) announced its first macroprudential interventions to prevent the build-up of housing related imbalances.[1] The FPC recommended that no more than 15% of a lender's total number of new mortgages should be at or greater than four and a half times borrowers' income and that an affordability test should assess whether borrowers can afford their mortgages if Bank Rate was three percentage points higher.
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/uk-house-prices-and-macro-prudential-policy-july-2014
 
Description CFM and LSE Department of Economics Public Lecture 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Professor Lord King discussed Professor Lord Stern his new book, The End of Alchemy: Banking, the Global Economy and the Future of Money, which suggests original ways to end the alchemy of our current monetary and banking system and to correct the disequilibrium in the world economy today.
Year(s) Of Engagement Activity 2016
URL http://www.centreformacroeconomics.ac.uk/Home.aspx
 
Description CFM and LSE Department of Economics Public Lecture 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Dr Keyu Jin discussed the impact of China's financial reforms.
Year(s) Of Engagement Activity 2016
URL http://www.lse.ac.uk/website-archive/newsAndMedia/videoAndAudio/channels/publicLecturesAndEvents/pla...
 
Description CFM meeting with senior delegation from Bosnia and Herzegovina as part of the FCO Fellowship scheme 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact A a high level delegation from Bosnia and Herzegovina met with CFM macroeconomists for a presentation and Q&A session
Year(s) Of Engagement Activity 2016
 
Description CFM, Cambridge, and INET conference on Aggregate Demand, the Labor Market and Macroeconomic Policy 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Aggregate Demand, the Labor Market and Macroeconomic Policy, Cambridge, September 4-5, 2014, Corpus Christi College, Cambridge in collaboration with CFM, Cambridge, and INET

Promoted questions and discussions and requests for further conferences
Year(s) Of Engagement Activity 2014
 
Description COUER - Morten Ravn 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/parliamentarians
Results and Impact Talk given by Morten Ravn at EU Commission Brussels which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Cambridge Macroeconomic Seminar 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Wouter DenHaan which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Can an Ageing Scotland Afford Independence? 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Seminar given by Angus Armstrong at the University of Edinburgh, Scotland which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013,2014
 
Description Can an Ageing Scotland Afford Independence? - St. Petersburg 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Katerina Lisenkova in St. Petersburg which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Can and Should the Eurozone Survive? 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Lionel Barber gives his views on the ongoing Eurozone crisis, the economic and political challenges ahead, and the future of the Euro. CFM Public Conversation, Chaired by Wouter Den Haan
This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Can research and innovation fuel the UK economy? 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Policymakers/parliamentarians
Results and Impact Talk given by Chris Pissarides in Brighton UK, this sparked questions and discussion afterwards
Growth comes from human inventiveness: how to do new things and how to do everything faster and better. It also comes from things like the ability to organise production and exchange better. Research can be focused on how to adapt the ways of others to our own economy. We still have a lot to learn from the United States in some sectors of the economy, like retail trade and other services (especially management), but research and adaptation are usually exercised by emerging nations. Japan in the 1970s and China in the 2000s grew by learning how to copy the ways of the West and adapt them to their comparative advantage. The UK today is not in that position. If it is to grow and prosper it needs new and more technologically-advanced investment and management needs to learn how to run businesses efficiently in both the private and public sectors.

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Carney's tools gets backing in economists poll - City AM 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Article in City AM which sparked

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
URL http://www.cityam.com/1404781268/carney-s-tools-get-backing-economist-poll
 
Description Causes of latin American productivity gap 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Francesco Caselli as a participant in a Debate at the World Bank

Increased requests for further information and participation
Year(s) Of Engagement Activity 2013
 
Description Centre For Macroeconomics Advisory Board Meeting 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other audiences
Results and Impact The Advisory Board oversees the Centre's strategy and programme of work, advises the Centre in order to reach its overall objectives and supports the Centre in its impact generating activities.
The Advisory Board Meeting was held to update the Board on and discuss past, present and fuure centre activities
This sparked questions and discussion

Commitment made to keep the yearly event up
Year(s) Of Engagement Activity 2013
 
Description China's Role in the Global Economy: Myths and Realities 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Centre for Macroeconomics and Department of Economics Lecture Series
The CFM and Department of Economics lecture series focuses on topical macroeconomic questions. Its aim is to give an informative and balanced overview of available knowledge among macroeconomists. This talk considers China's growing role in the world economy.
Speaker: Keyu Jin is a lecturer at LSE and member of CFM. Her research has focused on global imbalances and global asset prices, as well as international trade and growth
This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description Chris Pissarides- Keynote address at the 12th Conference on Research on Economic Theory & Econometrics 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The 12th Conference on Research on Economic Theory and Econometrics (C.R.E.T.E. 2013) took place at Naxos from Sunday July 14 through Thursday July 18, 2013.
This summer school involves invited faculty and PhD candidates from Greece and abroad, in various areas of economic theory and econometrics. The first meeting took place in 2002 and the series has since been continued each summer.
The program includes senior invited lectures in selected areas, as well as paper presentations by advanced PhD students and more junior faculty. Presentation given by Chris Pissarides which generated questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Cleveland Fed Household Economics Conference 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact 30 people attended a one day event, sharing of research and generating discourse.
Year(s) Of Engagement Activity 2015
URL https://www.clevelandfed.org/en/Newsroom%20and%20Events/Events/2015/Household%20Economics%20and%20De...
 
Description Collateral Constraints and Macroeconomic Asymmetries - Matteo Lacoviello (Federal Reserve Board) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact CEP/CFM/LSE Money-Macro Workshop on 4th November 2014 which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Collateral Risk, Repo Rollover and Shadow Banking 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Shengxing Zhang at numerous locations; Queen's University, Kingston, Canada, LBS, London, UK, Duke University, North Carolina, US,Federal Research Bank at Chicago, US and Toronto University, Toronto, Canada

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Communal Land and Agricultural Productivity - University of Cambridge 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Charles Gottleib that sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Comparing Housing Booms and Mortgage Supply 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact talk given by Angus Armstrong at the Future of Housing Finance conference co-sponsored by CFM which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Conference "Matching, Theory and Estimation" 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Conference "Matching, Theory and Estimation"

Sciences Po, 56 rue des St Peres, Paris

September 26-27, 2013

Sponsored by ERC (Grants WASP and ECOMATCH) and CEMMAP

Presentation made by Markus Rieglier which sparked questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Conference in Honour of Robert Barro 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact CFM and STICERD conference in honour of Robert Barro . The conference is mainly to celebrate Robert's contribution to economics by participating in the discussion. The programme consists of seven papers given by four of Robert's students (Marios Angeletos, Xavier Gabaix, Keyu Jin, and Michael Kremer) and by three junior faculty members at the LSE who are working on areas to which Robert contributed (Ethan Ilzetzki, Pascal Michaillat, and Michael Peters). This was a lot of questions, interaction, discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Contract Enforcement Costs, Productivity, and Industry Structure Across Countries 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Contract Enforcement Costs, Productivity, and Industry Structure Across Countries

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Contract Enforcement Costs, Productivity, and Industry Structure Across Countries 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Johannes Boehm on Contract Enforcement Costs, Productivity, and Industry Structure Across Countries which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Credit Crunches and Credit Allocation in a Model of Entrepreneurship - Istanbul School of Central Banking 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Led to questions and discussion afterwards

Higher than expected interest, requests for more information
Year(s) Of Engagement Activity 2014
 
Description Credit Crunches and Credit Allocation in a Model of Entrepreneurship - Norges Bank 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Policymakers/parliamentarians
Results and Impact Sparked questions and discussion afterwards

Requests for further information
Year(s) Of Engagement Activity 2014
 
Description Credit Dynamics and the Macroeconomy (Bank of England) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Study participants or study members
Results and Impact Two day series of presentations sparking discussion on reserach and pollicy.
Year(s) Of Engagement Activity 2015
URL http://www.centreformacroeconomics.ac.uk/pdf/Events/1512-BoE.pdf
 
Description Credit Traps and Credit Policies 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation by Angus Foulis which sparked questions and discussion afterwards
This paper develops an overlapping generations model with credit frictions. The model

has multiple steady states, and following a negative shock to the financial sector, it can fall into a 'credit trap': a steady state featuring permanently low output, bank lending, and financial sector net worth. In our model, banks' borrowing constraints depend on their net worth. Thus, a large, unexpected negative shock to banks' net worth makes them unable to finance productive investments, which in turn makes the economy 'stuck' in a 'bad' equilibrium characterised by low investment and output. We show that a leverage ratio cap can reduce the risk of an economy falling into a credit trap, but only at the expense of lowering the output in the 'good' steady state. Once the economy is in a credit trap, however, relaxing the leverage ratio cap will not help to get it out of the trap. We show situations in which a change in sectoral risk weights can work. When these fail, bank recapitalisation is needed

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Credit Traps: How to Avoid Them and How to Get Out of Them 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Credit Traps: How to Avoid Them and How to Get Out of Them

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Currency Unions and Sovereign Debt: the Case for Scottish Independence 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Angus Armstrong at the CFM London Macroeconomics Workshop in May 2014

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Deal of no Deal: The Greece Standoff - CFM Survey results June 2015 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Media (as a channel to the public)
Results and Impact Questions were put to a panel based on the following summary
Last week (week of June 22nd), the Greek authorities presented a new proposal to its creditors, consisting of increases in contributions to the government pension scheme, a widening of the 23% VAT rate (but a reduced rate of 13% on energy, basic foods, catering and hotels), an increase in the corporate tax rate from 26% to 29%, an increase in the "solidarity" income tax rate that had been initiated under previous bailout programmes, and a reduction in defence spending

Referenced in The Chronicle and Financial Times. This resulted in requests for interviews and discussion
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/deal-or-no-deal-greece-standoff
 
Description Deal or no deal: The Greece standoff 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.

Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.

The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).

Sparked questions, discussion and debate afterwards, lead to increased interest in the work of CFM and increased interest in related subject areas
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/deal-or-no-deal-greece-standoff
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact 29th - 30th April 2013 Macroeconomics and Econometrics Conference at the Birmingham Business School presentation given by Kevin Sheedy which generated questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact An argument that is sometimes made for a monetary policy that targets a path for nominal GDP (NGDP) is that it reduces risk for most borrowers who take out debt contracts with repayments fixed in nominal terms

Blog by Kevin Sheedy

http://mainlymacro.blogspot.co.uk/2013/05/sheedy-on-ngdp-targeting-and-debt.html

Interest, responses and discussion generated
Year(s) Of Engagement Activity 2013
URL http://mainlymacro.blogspot.co.uk/2013/05/sheedy-on-ngdp-targeting-and-debt.html
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The Econometric Society, North American Summer meeting, University of Southern California, 13-16 June 2013, https://dornsife.usc.edu/assets/sites/90/imgs/2013nasm/header.png This talk sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact 21st CEPR European Summer Symposium in International Macroeconomics (ESSIM), Izmir, Turkey, Hosted by The Central Bank of the Republic of Turkey 21-24 May 2013 by Kevin Sheedy which generated questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Kevin Sheedy at the Anglo-French-Italian Macroeconomics Workshop: 21-22 June hosted by The Birkbeck Centre for Applied Macro-Econometrics (BirkCAM) which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Talk by Kevin Sheedy that sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact 2013 Midwest Macro Meeting



The University of Illinois at Urbana-Champaign hosted the Midwest Macroeconomics Meetings from May 16 through 19, 2013, University of Illinois at Urbana-Champaign

Requests for more information and further discussion
Year(s) Of Engagement Activity 2013
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact 29th - 30th April 2013, Macroeconomics and Econometrics Conference at the University of Birmingham.



Keynote speakers were:

Roger Farmer (UCLA, Bank of England)

Thomas Lubik (Richmond Fed)

Simon Wren-Lewis (Merton College, Oxford)





Sparked questions and discussion afterwards
Year(s) Of Engagement Activity 2013
 
Description Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The 62nd Annual Meeting of the French Economic Association (Association Française de Science Economique, AFSE), held in Aix-en-Provence,

> June 24-26, 2013 which sparked questions and discussion afterwards



followed, at the same location, by the 12th Journées Louis-André Gérard-Varet, Conference in Public Economics, June 26-28, 2013



The two meetings hosted by the Aix-Marseille School of Economics.

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Deflation in urozone.... - The Times 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Article relating to CFM survey in The Times which sparked questions and discussion afterwards

Increase in requests for interviews and information
Year(s) Of Engagement Activity 2014
URL http://www.thetimes.co.uk/tto/business/economics/article4089029.ece
 
Description Demand Effects and Labour Market Interactions 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation at the 2013 Annual Meeting of the Society for Economic Dynamics

http://editorialexpress.com/conference/SED2013/program/SED2013.html#67

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Development Accounting - F Caselli - Paris 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Policymakers/parliamentarians
Results and Impact Presentation to policymakers - Paris (OECD), sparked questions and discussion

generated queries and discussion
Year(s) Of Engagement Activity 2014
 
Description Development accounting: methods and results 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Professional Practitioners
Results and Impact talk by Francesco Caselli at World Bank, Latin American Department Conference. this sparked questions and discussion aferwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Development and Misallocation - Lecture at INSPER Business School 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Tiago Cavalcanti at the INSPER Business School Sao Paulo, this talk sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Discussion of An Equilibrium Asset Pricing Model with Labor Market Search by Lars-Alexander Kuehn, Nicolas Petrosky-Nadeau and Lu Zhang 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Thijs van Rijns - Dicussant at the Barcelona GSE Summer Forum

http://www.barcelonagse.eu/tmp/pdf/SummerForumProgramBooklet.pdf this sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Discussion of Breaking the Spell with Credit Easing - Cambridge University 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Sparked questions and discussion

Higher than expected interest, requests for more information and further discussion
Year(s) Of Engagement Activity 2014
 
Description Discussion of Monetary Policy with Heterogeneous Agents by Nils Gornemann, Keith Kuester and Makoto Nakajima 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Thijs van Rijns - discussant at Macroeconomic Dynamics with Heterogeneous Agents Workshop held at the London Business School. This sparked questions and discussion

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Discussion of Segmented Housing Markets by Piazzesi and Schneider - Silvana Tenreyro 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Discussion panel which included Silvana Tenreyro, this sparked questions and discussion afterwards
The conference brought together a fantastic mix of quantitative macroeconomists and applied microeconometricians that shared their views on the empirical usefulness of various approaches to quantify the heterogeneity in the responses of economic agents to policy and other structural shocks.

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Discussion of Small and Large Price Changes and the Propagation of Shocks 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Silvana Tenreyro was part of a discussion group for the paper Small and Large Price Changes and the Propagation of Shocks by Fernando Alvarez, Francesco Lippi and Le Bihan at Cambridge University which sparked questions and discussion afterwards

There was an increase in requests for further participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Discussion of Transparency versus Tone: Public Communication with Limited Commitment - Cambridge MA 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation sparked questions and discussion afterwards

Led to requests for more information
Year(s) Of Engagement Activity 2014
 
Description Discussion of When Does a Central Bank's Balance Sheet Require Fiscal Support? - Marco Bassetto 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Professional Practitioners
Results and Impact Discussion at Conference (Frontiers of Macroeconomics) at the Federal Reserve Bank of Chicago, sparked discussion and questions

High interest, requests for more information and collaboration
Year(s) Of Engagement Activity 2014
 
Description Diversification Through Trade 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at invited session - EEA which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Diversification through Trade 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Invited session at the 35th Brazilian Meeting of Econometrics at Foz de Iguazu, Brazil on 12/12/2013

Requests for more information and further discussion
Year(s) Of Engagement Activity 2013
 
Description Diversification through Trade - Nottingham - F. Caselli 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Conference presentation that sparked questions and discussion afterwards

High interest from participants, requests for more information
Year(s) Of Engagement Activity 2014
 
Description Diversification through Trade - Keynote conference presentation - Beijing - Francesco Caselli 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Keynote presentation, sparked questions and discussion afterwards

Requests for more information
Year(s) Of Engagement Activity 2014
 
Description Do Oil Windfalls Improve Living Standards? Evidence from Brazil 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/parliamentarians
Results and Impact Presentation given by Francesco Caselli to the World Bank, Latin American Department

Future related activities; requests for further information
Year(s) Of Engagement Activity 2013
 
Description Durables and The Transmission Mechanism of Monetary Policy 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Presentation given, EIEF Rome by Silvana Tenreyro

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description EDP Jamboree 2013 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact All participants in the EDP get together each year for one or two short sessions, devoted to seminars on special topics and student presentations. These sessions, drawing on the common faculty resources, also provide students with information about current research activities, help orient their own work, and offer guidance on research subjects and associated supervisors. This generated questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Economic Consequences of an Independent Scotland - CFM Survey, June 2014 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
A. Armstrong, F. Caselli, J. Chadha, W. Den Haan

Requests for interviews from journalists, raised the profile of CFM and the work of CFM
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/economic-consequences-independent-scotland-june-2014
 
Description Economic Policy Panel 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Member of a panel discussion at the Central Bank of Lithuania. This sparked questions and discussions afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Economist Conference - debating on Europe's Future - Chris Pissarides 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/parliamentarians
Results and Impact Presentation by Chris Pissarides which sparked questions and discussion afterwards
Cabinet Ministers, heads of financial institutions and organizations and prominent economists take part in the event to brainstorm and share insight with decision-makers from politics, business, finance and academia on what lies ahead for Europe. In addition, leading experts were invited to openly discuss and debate on how Cyprus may find its way towards stability.

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Economists negative about UK migration policies - VoxEU 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact VoxEU article on CFM August 2014 survey which generated discussion and interest in CFM and the CFM survey

This lead to increased interest in the work of CFM
Year(s) Of Engagement Activity 2014
URL http://www.voxeu.org/article/migration-policy-survey-uk-based-macroeconomists
 
Description El Ahorro Individual: Mejores Pensiones y Más Desarrollo Económico 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Keynote address by Christopher Pissarides on The Labour Market: Unemployment and Informality

Increased requests for information and involvement, plans made for future activities
Year(s) Of Engagement Activity 2013
 
Description Euro Area Deflation and Risk for UK Economy - CFM Survey, May 2014 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
A. Armstrong, F. Caselli, J. Chadha, W. Den Haan

Requests for interviews from journalists, raised the profile of CFM
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/prospects-economic-growth-uk-april-2014
 
Description Europe: For Better or Worse 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Will entrenched structural impediments such as long term unemployment and aging demographics permanently diminish Europe's attractiveness as location for investments versus the United States?, lecture given by Chris Pissarides. This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description European Macroeconomics Workshop 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Postgraduate students
Results and Impact Organised by the Centre For Macroeconomics13 invited participants and 6 Chairs and 15 additional participants
http://www.centreformacroeconomics.ac.uk/pdf/CFM-EMW-Workshop-Programme.pdf
This sparked greater interaction, questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description European Summer Symposium International Macroeconomics 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Organiser of EUROPEAN SUMMER SYMPOSIUM IN INTERNATIONAL

MACROECONOMICS (ESSIM) 2013, Hosted by the Central Bank of the Republic of Turkey (CBRT), Izmir, Turkey; 21-24 May 2013

http://www3.tcmb.gov.tr/CEPR/Program.pdf this sparked questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description European Summer Symposium in International Macroeconomics 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact paper presented which led to further discussion

Further discussion, more information and collaboration
Year(s) Of Engagement Activity 2014
 
Description Eurozone deadlock : finding a path out of the crisis 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Joint with CEP, we organized this event about the Euro crisis. Professor Luis Garicano gave a lecture and a panel consisting of professor Paul de Grauwe, professor John Van Reenen, and professor Wouter Den Haan commented. The moderator was professor Francesco Caselli. This event was open to the public.
This generated questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Eurozone deadlock: Finding a path out of the crisis 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Joint with CEP, we organized this event about the Euro crisis. Professor Luis Garicano gave a lecture and a panel consisting of professor Paul de Grauwe, professor John Van Reenen, and professor Wouter Den Haan commented. The moderator was professor Francesco Caselli.
This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Eurozone deflation could derail UK economy - VoxEU article 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact voxEU article on the May 2014 CFM survey that sparked questions and discussion

Requests for more information, involvement
Year(s) Of Engagement Activity 2014
 
Description Exchange rate adjustment: discussions - Various locations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Giancarlo Corsetti at various locations; Macroeconomics of Global Interdependence April 4 and 5, 2014, CREI Barcelona; ECB-IMF conference, `International dimensions of conventional and unconventional monetary policy, April 29-30; CERP SNB Conference i`Exchange Rates and External Adjustmenti^, June i`International dimensions of conventional and unconventional monetary policyi^ April 29 and 30, 2014. These talks sparked discussion and questions

Led to requests for more information, future involvement and future related activities
Year(s) Of Engagement Activity 2014
 
Description Exploratory Analysis of the English Business Survey 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Seminar presentation given by Simon Kirby at BIS

Generated a lot of discussion and requests for more information
Year(s) Of Engagement Activity 2013
 
Description Finance after a 'Yes' - Angus Armstrong 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Angus Armstrong on 5th June 2014 which sparked questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Financial Crises Lessons from History (Cambridge University) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact One day series of presentations, which sparked discussion afterwards.
Year(s) Of Engagement Activity 2015
 
Description Financial crisis will not have long term impact on UK Growth - The Guardian 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Article in the Guardian following the April 2014 CFM survey that sparked questions and discussion

Increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
URL http://www.theguardian.com/business/economics-blog/2014/apr/14/financial-crisis-unlikely-long-term-i...
 
Description Firm Dynamics, Growth and Contractual Frictions 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given to faculty at University of Cologne, Germany by Michael Peters which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Firm Dynamics, Growth and Contractual Frictions 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Participants in your research and patient groups
Results and Impact Staff Seminar given by Michael Peters at LSE which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description First Impressions Matter: Signalling as a Source of Policy Dynamics 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Michael McMahon at Birkbeck University

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description Fiscal Austerity and Reputation - Luca Metelli (LSE) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact CEP/CFM/LSE Money-Macro Workshop on 7th October which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Fiscal Policy during Recessions and Recoveries 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Centre for Macroeconomics and Department of Economics Lecture Series
Lecture given by Ethan Ilzetzki

The CFM and Department of Economics lecture series focuses on topical macroeconomic questions. Its aim is to give an informative and balanced overview of available knowledge among macroeconomists. This talk discusses what is known about the effects of austerity and fiscal stimulus on economic activity.
This sparked questions and discussion afterwards



Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Fiscal Policy in an Unemployment Crisis 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Pontus Rendahl at the Mannheim Center For Macroeconomics and Finance on Fiscal Policy in an Unemployment Crisis

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Forecasting with Judgment 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk by Raffaella Giacomini in Berekley California which sparked questions and discussion afterwards
We consider a formal framework for incorporating judgmental corrections into a base multivariate density forecast using exponential tilting. We define judgment as a belief about moments of the distribution of a subset of the variables considered by the base multivariate forecast. Common examples are expert judgments about the mean, variance, covariance, quantiles and probability distribution of some macroeconomic variables, such as those contained in the Survey of Professional Forecasters and Blue Chip Analysts forecasts. Although exponential tilting has a long tradition in econometrics, the two main contributions of this paper are: 1) to formalize the method in a classical inferential context with out-of-sample forecast evaluation objectives and parameter estimation uncertainty; 2) to investigate when the incorporation of judgment results in accuracy improvements. In particular, we provide a testable condition that can guide a forecaster in deciding which type of judgment to incorporate and when to incorporate it. An implication of our analysis is that judgment does not have to be correct to be useful for forecasting.

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Forecasting with Judgment 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation by Raffaella Giacomini, Oct. 2013, Berkeley, California

We consider a formal framework for incorporating judgmental corrections into a base multivariate density forecast using exponential tilting. We define judgment as a belief about moments of the distribution of a subset of the variables considered by the base multivariate forecast. Common examples are expert judgments about the mean, variance, covariance, quantiles and probability distribution of some macroeconomic variables, such as those contained in the Survey of Professional Forecasters and Blue Chip Analysts forecasts. Although exponential tilting has a long tradition in econometrics, the two main contributions of this paper are: 1) to formalize the method in a classical inferential context with out-of-sample forecast evaluation objectives and parameter estimation uncertainty; 2) to investigate when the incorporation of judgment results in accuracy improvements. In particular, we provide a testable condition that can guide a forecaster in deciding which type of judgment to incorporate and when to incorporate it. An implication of our analysis is that judgment does not have to be correct to be useful for forecasting.

Stimulated further discussion
Year(s) Of Engagement Activity 2013
 
Description Forward Guidance: Communication, Commitment, or Both? - Toulouse, France 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation led to further questions and discussion

Requests for more information and further discussion
Year(s) Of Engagement Activity 2014
 
Description Friends of Europe State of Europe VIP Roundtable 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact A CONVERSATION WITH Sir Christopher Pissarides, Nobel prize-winner in economics and Regius Professor at the London School of Economics (LSE), and a roundtable discussion on the options open to Europe as it strives to resolve both short-term and structural economic challenges while also reviving public support for the EU.
This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Future of the Euro 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Panel discussion at the University of Padova, Italy in which Francesco Casellli was a participant

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description GENERALISED DENSITY FORECAST COMBINATIONS 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at EEA-ESEM 2013



Density forecast combinations are becoming increasingly popular as a meansof improving forecast 'accuracy', as measured by a scoring rule. In this paper we

generalise this literature by letting the combination weights follow more general

schemes. Sieve estimation is used to optimise the score of the generalised density

combination where the combination weights depend on the variable one is trying to

forecast. Specific attention is paid to the use of piecewise linear weight functions that

let the weights vary by region of the density. We analyse these schemes theoretically,

in Monte Carlo experiments and in an empirical study. Our results show that the

generalised combinations outperform their linear counterparts.

requests for more information and discussion
Year(s) Of Engagement Activity 2013
 
Description Gender Gaps and the Rise of the Service Economy - Chinese University of Hong Kong 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Rachel Ngai at the Chinese University of Hong Kong, this talk sparked questions and discussion afterwards

This lead to increased requests for further information
Year(s) Of Engagement Activity 2014
 
Description General Equilibrium Effects of Targeted Transfers: The case of the Earned Income Tax Credit (EITC) - Numerous locations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Charles Gottleib at numerous venues; European University Institute, Florence, Italy, University of Cologne, Germany and University of Frankfurt this talk sparked questions and discussion afterwards

Increase in requests for further information and involvement
Year(s) Of Engagement Activity 2014
 
Description Generalised Density Forecast Combinations 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Density forecast combinations are becoming increasingly popular as a means

of improving forecast 'accuracy', as measured by a scoring rule. In this paper we

generalise this literature by letting the combination weights follow more general

schemes. Sieve estimation is used to optimise the score of the generalised density

combination where the combination weights depend on the variable one is trying to

forecast. Specific attention is paid to the use of piecewise linear weight functions that

let the weights vary by region of the density. We analyse these schemes theoretically,

in Monte Carlo experiments and in an empirical study. Our results show that the

generalised combinations outperform their linear counterparts.

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Generalised Density Forecast Combinations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Postgraduate students
Results and Impact Presentation given by Simon Price at City University to Post Graduates and potential graduates
Abstract

Density forecast combinations are becoming increasingly popular as a means

of improving forecast 'accuracy', as measured by a scoring rule. In this paper we

generalise this literature by letting the combination weights follow more general

schemes. Sieve estimation is used to optimise the score of the generalised density

combination where the combination weights depend on the variable one is trying to

forecast. Specific attention is paid to the use of piecewise linear weight functions that

let the weights vary by region of the density. We analyse these schemes theoretically,

in Monte Carlo experiments and in an empirical study. Our results show that the

generalised combinations outperform their linear counterparts.

JEL Codes: C53

Requests for more information
Year(s) Of Engagement Activity 2013,2014
 
Description German Council of Economic Experts' view of ECB policy 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.

Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.

The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).

Sparked questions, discussion and debate afterwards, lead to increased interest in the work of CFM and increased interest in related subject areas
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/german-council-economic-experts-view-ecb-policy
 
Description Giving guidance on future monetary policy in a very uncertain world - David Miles 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact CFM lecture given by David Miles MPC, Bank of England which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Global imbalance and structural change 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at UAB

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Goods Markets, the Macroeconomy and Policy - Paris 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact talk given by Wouter DenHaan which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Government Spending Multipliers in Good Times and in Bad: Evidence from U.S. Historical Data - Valerie Ramey - (University of California, San Diego) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact CEP/CFM/LSE Money-Macro Workshop on 14th October 2014 which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Greece Elections and the Future of the Eurozone - CFM Survey January 2015 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Media (as a channel to the public)
Results and Impact Questions were asked based on --If, as seems likely, the Syriza party wins the Greek election on 25 January, what will be the impact on the Eurozone? This column summarises the views of 40 UK-based experts polled by the Centre for Macroeconomics (CFM). A 60% majority of survey respondents do not think that a Syriza victory will cause interest-rate spreads for other countries in the Eurozone periphery to increase significantly or for a sustained period. But opinion is more evenly divided on whether core Eurozone countries and the EU should be open to renegotiating the Greek debt and the conditions of the Greek bailout. - See more at: http://cfmsurvey.org/surveys/greece%E2%80%99s-elections-and-future-eurozone#sthash.4uBRticY.dpuf

This survey resulted in articles in Share Radio https://audioboom.com/boos/2810500-francesco-caselli-cep_lse-talks-about-possible-effects-of-a-grexit and The Money Market http://www.money-marketuk.com/Business-and-Finance/4170-could-eurozone-deflation-derail-uk-recovery.html. It also resulted in queries and further discussion
Year(s) Of Engagement Activity 2015
URL http://cfmsurvey.org/surveys/greece%E2%80%99s-elections-and-future-eurozone
 
Description Growth Risks for the EU emanating from global imbalances 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Paper presented at the EUROFRAME conference in Warsaw in May 2013

Requests for more information
Year(s) Of Engagement Activity 2013
 
Description Has the West entered secular stagnation - Voxeu article on CFM 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact VoxEu article in response to the October 2014 CFM survey. This article sparked interest in the work of CFM and the CFM survey

Increased interest in CFM and the work of CFM
Year(s) Of Engagement Activity 2014
 
Description Heterogenous Mark-Ups and Endogenous Misallocation 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Michael Peters in Cologne, Germany which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Homo Economicus - Homo Hellenicus" Lecture by Christopher Pissarides & Stelios Ramfos 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Public lecture as part of the Greece and the West lectures given by Chris Pissarides

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description House of Lords Macroeconomic Policy Group 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Policymakers/politicians
Results and Impact Working group on alternative macroeconomic policies, generating discourse on economic policy practice.
Year(s) Of Engagement Activity 2015
 
Description Household debt and the dynamic effects of tax changes 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact This paper investigates a new channel in the transmission of scal policy: household debt. Using a long span of expenditure survey data and a new

narrative measure of exogenous income tax changes for the UK, mortgagors exhibit large and persistent consumption responses to tax changes. Home owners without a mortgage, in contrast, do not appear to react, with responses not

statistically di erent from zero at all horizons. Social renters increase their con-

sumption, but by less than mortgagors. Households with non-mortgage debt

also tend to adjust their expenditure by more than non-borrowers. Splitting

the sample by age and education yields only limited evidence of heterogeneity

as the distributions of these demographics overlap across housing tenures. Our

ndings highlight the role of household debt in evaluating the e ectiveness of

scal policy both in the aggregate and across di erent groups in society.
This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Household debt and the dynamic effects of tax changes 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by James Cloyne at the University of Bonn

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description Household saving (NIESR's August 2013 Review) on Today Programme, BBC Radio 4. 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Media (as a channel to the public)
Results and Impact Interview given by Simon Kirby on Household saving (NIESR's August 2013 Review) on Today Programme, BBC Radio 4. This sparked discussion

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Housing Dynamics over the Business Cycle 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Housing Dynamics over the Business Cycle talk, this sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Housing Market Risk to the Economy - Pieria 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact article in Pieria in response to July 2014 CFM survey that generated discussion on social media

Increased requests for interviews and advice
Year(s) Of Engagement Activity 2014
URL http://www.pieria.co.uk/articles/housing_market_risks_to_the_uk_economy_time_to_deploy_macroprudenti...
 
Description IMF goes back to the future with gloomy talk of secular stagnation - The Guardian 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The Guardian article with reference to CFM survey, this has lead to increased interest in the CFM survey and CFM

Increase in requests for further participation and involvement
Year(s) Of Engagement Activity 2014
 
Description IPPR North: Implications of Scottish powers for NE England - Angus Armstrong 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Presentation given by Angus Armstrong which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Improving UK economic growth interview on BBC Radio 5Live - 5Live Drive 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Media (as a channel to the public)
Results and Impact Interview given by Simon Kirby to Radio 5Live - 5Live Drive on Improving UK economic growth interview on BBC. This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Input Demand and Trade 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact lecture given by Michael peters at the University of Edinburgh. This talk sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description International Economic Trends 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Keynote address given at Hi-Tech Forum: Capital Market Summit by Chris Pissarides in Shenzhen, China. This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description International Monetary Policy - SNB Study Center, Gersenzee, Bern Switzerland 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/parliamentarians
Results and Impact presentation given by Giancarlo Corsetti at central Bankers Seminar at SNB Study Center, Gersenzee, Bern Switzerland. This presentation created lively discussion and questions

Requests for more information and further discussion
Year(s) Of Engagement Activity 2014
 
Description Interview, Times Higher Education (Filipa Sa) 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Article citing comments made during the Royal Economic Society's annual conference, and subsequent interview discussing tuition fees and policy.
Year(s) Of Engagement Activity 2015
URL https://www.timeshighereducation.com/news/tuition-fees-hike-hit-courses-with-low-salary-expectations...
 
Description Inventories and the Role of Goods-Market Frictions 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Professional Practitioners
Results and Impact Talk given by Wouter DenHaan which sparked questions and discussion afterwards at the National Bank of Serbia

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Inventories and the Role of Goods-Market Frictions for Business Cycles 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Seminar presentation by Wouter DenHaan done at the Bilkent University, Turkey

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Inventories and the Role of Goods-Market Frictions for Business Cycles 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Changes in the stock of inventories are important for fluctuations in aggregate output. How

ever, the possibility that rms do not sell all produced goods and inventory accumulation are typically ignored in business cycle models. This paper captures this with a goods-market friction. Using US data, "goods-market e¢ ciency" is shown to be strongly procyclical. By including both a goods-market friction and a standard labor-market search friction, the model developed can substantially magnify and propagate shocks. Despite its simplicity, the model can also replicate key inventory facts. However, when these inventory facts are used to discipline parameter values, then goods-market frictions are quantitatively not very important.
Tis sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Inventories and the Role of Goods-Market Frictions for Business Cycles 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Invited presentation at the Paris School of Economics by Wouter DenHaan which generated questions and discussion

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Investing in Inclusive Growth with Bill Morneau, Canada's Minister of Finance 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Canada's Minister of Finance, Bill Morneau, shares his views on the global economy and how Canada is investing to strengthen its middle class and grow the economy over the long term.

Previously, he led Morneau Shepell and was Pension Investment Advisor to Ontario's Finance Minister. Morneau's community service in Toronto is extensive, having supported the arts, helped street kids, and improved access to health care and education. Internationally, he founded a school for Somali and Sudanese youth in an African refugee camp.
Year(s) Of Engagement Activity 2016
URL http://www.lse.ac.uk/website-archive/newsAndMedia/videoAndAudio/channels/publicLecturesAndEvents/pla...
 
Description Is Europe Working? 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Christopher Pissarides has been appointed as Regius Professor at LSE. In 2010 he was awarded the Nobel Prize in Economic Sciences for his work with Peter Diamond and Dale Mortensen on the analysis of markets with search frictions. This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Is Everything You Hear About Macroeconomics True? 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Centre for Macroeconomics and Department
of Economics Lecture Series
This talk discussed the real (and perceived) weaknesses, the strengths, and the challenges of modern macroeconomics.
Speaker: Wouter Den Haan is a Professor at LSE and Co-director of the Centre for Macroeconomics. This generated questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Is VAT a Very Alterable Tax in China? - Xiaoguang Chen (LSE) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact CEP/CFM/LSE Money-Macro Workshop on 21st October which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Is the Federal Reserve breeding the next financial crisis? 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Done by Cesa-Bianchi, A., & Rebucci, A.

http://www.voxeu.org/article/federal-reserve-breeding-next-financial-crisis%20-%20.UWZyK_dAnQg.facebook

Feedback, discussion and requests for more information
Year(s) Of Engagement Activity 2013
URL http://www.voxeu.org/article/federal-reserve-breeding-next-financial-crisis%20-%20.UWZyK_dAnQg.faceb...
 
Description It's time to deploy macroprudential policy - VoxEU 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Article following the dissemination of CFM Survey July 2014 results

Increased interest in the CFM survey and CFM
Year(s) Of Engagement Activity 2014
URL http://www.voxeu.org/article/macroprudential-policy-survey-uk-based-macroeconomists
 
Description Italy after the elections 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Public/other audiences
Results and Impact Debate at Chatham House where Francesco Caselli was a participant in the debate http://www.chathamhouse.org/events/view/190187

http://www.chathamhouse.org/events/view/190187
Year(s) Of Engagement Activity 2013
 
Description Job Uncertainty and Deep Recessions 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact talk by Morten Ravn presented at Bocconi University, Toulouse University, Brussels and Rome which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Job Uncertainty and Deep Recessions 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk by Vincent Sterk at EEA meetings Toulouse and Richmond Fed Macro labor conference which sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description Jordi Gali, CREI, Barcelona 
Form Of Engagement Activity Participation in an open day or visit at my research institution
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Collaborative visit by Thijs van Rijns to Jordi Gali, CREI, Barcelona

Increased requests for more information
Year(s) Of Engagement Activity 2013
 
Description Labor Markets and Business Cycles: Part 3 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Postgraduate students
Results and Impact Part 3 of a Seminar series given by Robert Shimer for PhD students in which he discusses "Standard" Preferences and Technology. This sparked questions and discussion

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description Labor Markets and Business Cycles: Part 4 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Postgraduate students
Results and Impact Part 4 of a seminar series given by Robert Shimer to PhD students in which he discusses:

Stochastic Trends
This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description Labor Markets and Business Cycles: Part II 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Postgraduate students
Results and Impact Part 2 in a seminar series given by Robert Shimer to PhD students in which he discusses:

1) Discrete Time Models

2) Recursive Formulation and

3) Bargaining

this sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description Labor Markets and Business Cycles: Part1 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Postgraduate students
Results and Impact Part 1 of a seminar series given by Robert Shimer to PhD students in which he discusses:
1. basic facts about the labor market over the business cycle
2. linear search model
3. synthesis of search and neoclassical models and
4. wage rigidities
This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description Labour market slack and inflation - multiple presentations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Stephen Millard at Brunel University,University of Bournemouth and University of the West of England which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Learning about asset prices and financial frictions 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Participants in your research and patient groups
Results and Impact Presentation made at LSE Economics seminar

Learning about asset prices and financial frictions
Year(s) Of Engagement Activity 2013
 
Description Learning dynamics and the support for economic reforms: why good news can be bad 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other audiences
Results and Impact Support for economic reforms has often shown puzzling dynamics: many reforms that started o¤ successfully, lost public support nevertheless. We show that learning dynamics can rationalize this paradox, the reason being that the process of revealing reform outcomes is an example of sampling without replacement. We show that this concept challenges the conventional wisdom that one should start by revealing reform winners. We use our framework to explain why gradual reforms worked well in China (where successes in Special Economic Zones facilitated further reform), while this is much less so for Latin American and Central and Eastern European countries. This sparked questions and discussion

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Learning dynamics and the support for economic reforms: why good news can be bad 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Support for economic reforms has often shown puzzling dynamics: there are many examples of reforms that started off successfully but nevertheless lost public support, and vice versa. We show that learning dynamics can rationalize this apparent paradox, the reason being that the process of revealing reform outcomes is an example of sampling without replacement: every winner revealed reduces the number of unfilled winning places left, thereby making individuals who remain uncertain on their identity (reform winner or loser?) more pessimistic about their chances of benefiting from the reform. Consequently, learning considerations challenge the conventional wisdom that sequencing should be such that favorable reform outcomes are revealed first. Finally, we provide an explanation for why the gradual reform strategy worked well for China, while this is much less so for Latin American and Central and Eastern European countries.

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Lecture by Ryan Avent on he Wealth of Humans: work, power, and status in the twenty-first century 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact The Wealth of Humans: Work, Power, and Status in the Twenty-First Century, Ryan Avent addressed the difficult questions about the increasing abundance of labour and what this means politically, economically and socially for every one of us. The traditional solutions - improved education, wage subsidies, universal basic income - will no longer work as they once did. In order to navigate our way across today's rapidly transforming economic landscape, Avent argues that we must radically reassess the very idea of how, and why, we work.
Year(s) Of Engagement Activity 2016
URL http://www.centreformacroeconomics.ac.uk/Home.aspx
 
Description London Macroeconomics Workshop 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The workshop is aimed at fostering interaction and collaboration between macro researchers in the (greater) London area, and is jointly organized by the Bank of England, London Business School, London School of Economics, University College London and the newly established Center for Macroeconomics. The emphasis is on presenting new research including work in progress.

Generated discussion and future collaboration
Year(s) Of Engagement Activity 2013
 
Description London Macroeconomics Workshop 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact London Macroeconomics Workshop

Friday 19th April 2013

Ricardo L.T., Drayton House, Department of Economics, UCL

Organised By Morten Ravn, UCL
This event sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2014
 
Description London Macroeconomics Workshop - Tuesday 6 May 2014 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Participants in your research and patient groups
Results and Impact CFM aim towards fostering interaction and collaboration between macro researchers in the greater London area. It is jointly
organised by the Bank of England, Cambridge University, London Business School, London School of
Economics, the National Institute of Economic and Social Research and University College London,


More discussion and interaction within CFM and CFM and wider London based economists
Year(s) Of Engagement Activity 2014
 
Description Luncheon Talk on Impact of European Financial Crisis 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Policymakers/parliamentarians
Results and Impact Europe is coming out of recession but very slowly. The southern countries are still deep in crisis, especially with respect to unemployment and job creation, and progress towards banking union in the Eurozone is stalling. What are the prospects of a full recovery in Europe and what kind of Europe will there be after the crisis? Sir Christopher Pissarides, the IAS Helmut & Anna Pao Sohmen Professor-at-Large of the Hong Kong University of Science and Technology, discussed the impact of the crisis on Europe and its trading partners.
This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description MACROPRUDENTIAL CAPITAL REQUIREMENTS IN GENERAL EQUILIBRIUM 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/parliamentarians
Results and Impact Presentation given at Frankfurt, Bundesbank

Increased requests for further involvement and participation
Year(s) Of Engagement Activity 2013
 
Description Macroeconomic Stabilization and Economic Recovery after the Financial Crisis 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact CFM in collaboration with EABCN-INET and University of Cambridge hosted a conference Macroeconomic Stabilization and Economic Recovery after the Financial Crisis|.

Requests for further information and future conferences
Year(s) Of Engagement Activity 2014
 
Description Making Markets Fair and Effective - Dr Minouche Shafik 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Centre for Macroeconomics, Department of Economics, Systemic Risk Centre and International Growth Centre public lecture

Date: Monday 27 October 2014
Time: 6.30-8pm
Venue: Old Theatre, Old Building
Speaker: Dr Minouche Shafik
Chair: Professor Lord Stern

The wholesale financial markets are some of the largest in the world, and matter to all of us. But public confidence in these markets has been rocked by a series of misconduct scandals in recent years, such as those affecting LIBOR. How far have the underlying causes of this misconduct been identified and tackled? And what is left to be done? Minouche Shafik, Deputy Governor of the Bank of England, will discuss how the Fair and Effective Markets Review - launched by the Chancellor of the Exchequer and the Governor of the Bank of England this summer - is seeking to answer these questions.


Increased discussion around the lecture title
Year(s) Of Engagement Activity 2014
URL http://www.lse.ac.uk/publicEvents/events/2014/10/20141027t1830vOT.aspx
 
Description Medicaid Insurance in Old Age - Mariacristina De Nardi 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Mariacristina De Nardi at numerous locations; University of St. Gallen, Queen Mary University, London, Mannheim University, Goethe University, Frankfurt, Federal Reserve Bank of Chicago, Universitat Autonoma de Barcelona, UCLouvain, Louvain La Neuve, Belgium and Bank of France, Paris This talk sparked questions and discussion afterwards.

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Michael McMahon, Bank Underground Blog 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Bank of England "Bank Underground" blog article with Nick Butt and Rohan Churm, analysing quantatitive easing.
Year(s) Of Engagement Activity 2015
URL http://bankunderground.co.uk/2015/07/17/did-quantitative-easing-boost-bank-lending/
 
Description Michael McMahon, CNBC Interview 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact TV interview discussing Central Bank Communication
Year(s) Of Engagement Activity 2015
 
Description Michael McMahon, ERC Clash of the Titans 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Winner of economic forecasting competition hosted by ESRC, sparking discussion and generating media interest.
Year(s) Of Engagement Activity 2015
URL http://www.ercouncil.org/cottwinners/
 
Description Michael McMahon, Share Radio Guest 
Form Of Engagement Activity A broadcast e.g. TV/radio/film/podcast (other than news/press)
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Radio guest to discuss current economic issues
Year(s) Of Engagement Activity 2015
 
Description Micro Foundations for Macro Finance 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact CEPR-CIFRA workshop, Amsterdam, 8-9 June, talk given by Wouter Den Haan which generated questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Migration and the UK Economy - August 2014 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.



Requests for interviews from journalists, raised the profile of CFM and the work of CFM
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/migration-and-uk-economy-august-2014
 
Description Migration and the UK Economy - CFM Survey August 2014 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
A. Armstrong, F. Caselli, J. Chadha, W. Den Haan


Requests for interviews from journalists, raised the profile of CFM
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/
 
Description Mismatch, Unemployment and Productivity 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Individual seminar given under the Economist Visitor Programme at DG Enterprise, European Commission which sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Modelling Migration in an OLG Framework: the Case of UK Migration Policy 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Katerina Lisenkova which sparked questions and discussion afterwards
International Conference on Economic Modeling
Prague, Czech Republic
July 1-3, 2013

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Modelling the service sector 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact In the wake of the financial crisis output fell dramatically while inflation remained above its target and productivity collapsed relative to its previous trend. The fall in productivity relative to trend was particularly pronounced within the service sector, and then most particularly in certain subsectors such as 'Professional, Scientific and Technical Activities'. Given the weight of services in the economy - 75% in GDP and 50% in the CPI - it would seem that understanding how this sector works is crucial if we are to understand how the economy as a whole responds to shocks. But our standard macroeconomic models are not well suited to analysing this sector. In this paper, we try to address these deficiencies by modelling better the service sector and then examine the implications of trying to take certain features of the service sector into account. In order to do this, we first embarked on a series of structured visits to a set of firms that span the service sector. The motivation for doing this was that we could use our findings from these visits to get a better feel for how service-sector firms operate and, so, to be able to construct a model of a 'typical' service-sector firm. We then build a model taking into account what we learned from the visits and examined the effects of demand shocks within the model. We find that the model can explain some of the qualitative movements in productivity seen in response to the financial crisis

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description Modelling the service sector 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at a number of venues by Stephen Millard including University of Bath, Univ. of Glasgow, Univ. of Exeter, Univ. of Leeds, Univ. of Manchester and Univ. of Bristol which sparked questions and discussion afterwards

Increased requests for more information and further presentations
Year(s) Of Engagement Activity 2013,2014
 
Description Modelling the service sector 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact In the wake of the financial crisis output fell dramatically while inflation remained above its target and productivity collapsed relative to its previous trend. The fall in productivity relative to trend was particularly pronounced within the service sector, and then most particularly in certain subsectors such as 'Professional, Scientific and Technical Activities'. Given the weight of services in the economy - 75% in GDP and 50% in the CPI - it would seem that understanding how this sector works is crucial if we are to understand how the economy as a whole responds to shocks. But our standard macroeconomic models are not well suited to analysing this sector. In this paper, we try to address these deficiencies by modelling better the service sector and then examine the implications of trying to take certain features of the service sector into account. In order to do this, we first embarked on a series of structured visits to a set of firms that span the service sector. The motivation for doing this was that we could use our findings from these visits to get a better feel for how service-sector firms operate and, so, to be able to construct a model of a 'typical' service-sector firm. We then build a model taking into account what we learned from the visits and examined the effects of demand shocks within the model. We find that the model can explain some of the qualitative movements in productivity seen in response to the financial crisis

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Monetary Policy, Leverage, and Default 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Monetary Policy, Leverage, and Default, Presentation by Michele Piffer which generated questions and discussion afterwards

Increase in requests for further participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Monetary Policy, Leverage, and Default 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Monetary Policy, Leverage, and Default which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Monetary Policy, Leverage, and Default 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Monetary Policy, Leverage, and Default, talk given by M Piffer at the RES conference which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Money For Nothing: Inside the Federal Reserve 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Money For Nothing: Inside The Federal Reserve is the first film to take viewers inside America's central bank and reveal the impact of Fed policies - past, present and future - on our lives. As Ben Bernanke's tumultuous tenure comes to a close, Paul Volcker, Janet Yellen, and many of the world's best financial minds debate the decisions that led the global economy to the brink of collapse and ask whether we might be headed there again. Screening and panel discussion co-chaired by Wouter Den Haan this sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Money Macro and Finance Conference 2013 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The 45th annual Money Macro and Finance Conference took place at Queen Mary, University of London from Wednesday 11th to Friday 13th September, 2013. This sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Mortgages and Monetary Policy 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Mortgage loans are a striking example of a persistent nominal rigidity. As a result, under incomplete markets, monetary policy affects decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. Observed debt levels and payment to income ratios suggest the role of such loans in monetary transmission may be important. A general equilibrium model is developed to address this question. The transmission is found to be stronger under adjustable- than fixed-rate contracts. The source of impulse also matters: persistent inflation shocks have larger effects than cyclical fluctuations in inflation and nominal interest rates. Queries and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Mortgages and monetary policy 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Roman Sustek which sparked questions and discussion afterwards
Mortgage loans are a striking example of a persistent nominal rigidity. As a result, under incomplete markets, monetary policy affects decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. Observed debt levels and payment to income ratios suggest the role of such loans in monetary transmission may be important. A general equilibrium model is developed to address this question. The transmission is found to be stronger under adjustable- than fixed-rate contracts. The source of impulse also matters: persistent inflation shocks have larger effects than cyclical fluctuations in inflation and nominal interest rates

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Multi-Worker Firms and Size Adjustment Costs 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Participants in your research and patient groups
Results and Impact Presentation given at LSE Macroeconomics Work in Progress seminar by Markus Rieglier

Increased requests for further information
Year(s) Of Engagement Activity 2013
 
Description Multi-Worker Firms and Size Adjustment Costs - University of Manchester 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Markus Riegler at the University of Manchester which sparked questions and discussion afterwards

Increase in requests for further information
Year(s) Of Engagement Activity 2014
 
Description NIESR Conference - THE FUTURE OF HOUSING FINANCE in collaboration with CFM and ESRC 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Promoted questions and discussion

Promoted questions, discussions and requests for more activities of this nature
Year(s) Of Engagement Activity 2014
 
Description NIESR Estimates of Monthly GDP - August 2013 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact NATIONAL INSTITUTE OF ECONOMIC AND SOCIAL RESEARCH

ESTIMATES OF MONTHLY GDP

6th August 2013

Our monthly estimates of GDP suggest that output grew by 0.7 per cent in the three months ending in July after growth of 0.6 per cent in the three months ending in June 2013. These estimates suggest a narrowing of the UK's large negative output gap. Consumer spending growth has underpinned the recent gains in economic momentum, in spite of the continued decline of real consumer wages. Our monthly GDP estimates are consistent with this pattern continuing in the three months ending in July 2013.

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description NIESR Estimates of Monthly GDP - July 2013 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact NATIONAL INSTITUTE OF ECONOMIC AND SOCIAL RESEARCH

ESTIMATES OF MONTHLY GDP

on 9th July 2013

Our monthly estimates of GDP suggest that output grew by 0.6 per cent in the three months ending in June after growth of 0.6 per cent in the three months ending in May 2013. These estimates suggest that economic growth accelerated from 0.3 per cent per quarter in 2013Q1 to 0.6 per cent in 2013Q2, largely due to the performance of the private service sector. Production sector output has been flat since the rebound in February 2013. Nevertheless, this translates into a modest positive contribution to GDP growth in 2013Q2.
This sparked questions and discussion

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description NIESR's multi-country model NiGEM 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Educational lecture given by Dawn Holland of NIESR to CFM members. Dawn explained and discussed key features of the model. This sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description NIGEM Explanation and Discussion 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation by Dawn Holland at LSE, which sparked questions and discussion afterwards
NIGEM is the model that is used by NIESR to make forecasts and policy recommendations.
The purpose of the seminar is to narrow the gap between researchers at universities (following a more abstract approach) and researchers at policy institutions (following an approach that can arguably be more directly applied to give advice to policy makers).

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description National Living Wage and the UK economy 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.

Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.

The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).

Sparked questions, discussion and debate afterwards, lead to increased interest in the work of CFM and increased interest in related subject areas
Year(s) Of Engagement Activity 2016
URL http://cfmsurvey.org/surveys/national-living-wage-and-uk-economy
 
Description Negative Interest Rate Conference, co-hosted by Barclays and the Centre for Macroeconomics. 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Professional Practitioners
Results and Impact Over the past few years, several of Europe's central banks cut key interest rates below zero, and Japan's central bank recently followed. This year, some 500 million people in a quarter of the world economy live with interest rates below zero. Bringing together the world's preeminent scholars and economists, the conference explored the financial impact of negative interest rates on the economy, and the consequences of negative rates for real investment, saving, and consumer behaviour.
Year(s) Of Engagement Activity 2016
 
Description On the Determinants of Slum Formation 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Tiago Cavalcanti at the SAET Conference, Brazilian Society Conference, Paris, Foz do Iguacu. This presentation sparked questions and promoted discussion

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description On the Optimality of Financial Repression - Pat Kehoe (UCL) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact CEP/CFM/LSE Money-Macro Workshop on 11 November 2014 which sparked questions and discussion afterwards



Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description On the Relationship between Mobility, Population Growth and Capital Spending in the United States - Ecole Polytechnique, Paris 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Questions and requests for more information

Higher than expected interest, requests for more information and further discussion
Year(s) Of Engagement Activity 2014
 
Description Open macro Macroeconomics - Kiel Institute 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Giancarlo Corsetti at the Kiel Institute Summer school which sparked questions and discussion afterwards

Requests for more information
Year(s) Of Engagement Activity 2014
 
Description Open macro Macroeconomics - University of Cambridge 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Professional Practitioners
Results and Impact Presentation given by Giancarlo Corsetti to central bankers and post doctoral students at the University of Cambridge. This presentation stimulated lively discussion and requests for more information

After the presentation there were requests for more information
Year(s) Of Engagement Activity 2014
 
Description Optimal Learning on Climate Change: Why Climate Skeptics Should Reduce Emissions 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The 20th Annual Conference of the European Association of Environmental and Resource Economists (EAERE) held in Toulouse, France, on June 26-29, 2013. This sparked questions and discussion

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Optimal Learning on Climate Change: Why Climate Skeptics Should Reduce Emissions 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Presentation given at Tinbergen Institute Amsterdam by T Willems

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description Optimal unemployment insurance over the business cycle 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Professional Practitioners
Results and Impact Presentation given by Pascal Michaillat at Mannheim University which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Outlook for the UK economy (NIESR's May 2013 Review) on Today Programme, BBC Radio 4. 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact BBC Radio 4 interview with Simon Kirby

Interaction, requests for more information
Year(s) Of Engagement Activity 2013
 
Description Outlook for the UK economy and changes to monetary policy 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Media (as a channel to the public)
Results and Impact TV interview given by Simon Kirby to Dukascopy TV, Switzerland which sparked questions and discussion

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Outlook for the UK economy and what to expect from the arrival of the new Bank of England Governor 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact TV Channel Russia 24 interview with Simon Kirby

Requests for more information
Year(s) Of Engagement Activity 2013
 
Description Outlook for the UK economy, presentation to the Low Pay Commission 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Professional Practitioners
Results and Impact Presentation given by Simon Kirby to the Low Pay Commission which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013,2014
 
Description Panel on Scotland's currency options - Angus Armstrong 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact presentation given by Angus Armstrong at the Festival of Politics in Edinburgh on 16th August 2014 which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Paris Conference on Goods Markets, the Macroeconomy and Policy 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact CFM in conjunction with ANR, Bank of France, ERC, and SciencesPo held a Paris Conference on Goods Markets, the Macroeconomy and Policy

more interaction and collaboration on macro issues
Year(s) Of Engagement Activity 2014
 
Description Pension Systems and Economic Growth 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Delivered at 7th National Meeting of Social Security, Santiago, Chile, August 8, 2013, The role of the state in modern societies
• Key challenges in the design of pensions
• Labor market challenges
• World economic performance and prospects
This talk by Chris Pissarides sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Persistent Output Gaps: Causes and Policy Remedies (Cambridge University) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Study participants or study members
Results and Impact Two day series of presentations stimulating debate and dialogue among academics.
Year(s) Of Engagement Activity 2015
URL http://www.cepr.org/1855
 
Description Policy Issues Affecting the Bank of England: inflation control and social choice - Lecture by Mark Carney, Governor of the Bank of England, followed by a discussion and Q&A with Amartya Sen, Professor of Economics and Philosophy at Harvard University, charied by Professor Lord Stern. 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact A lecture by Mark Carney, the Governor of the Bank of England, followed by a discussion and Q&A with Amartya Sen, Professor of Economics and Philosophy at Harvard University, charied by Professor Lord Stern.

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. The Governor joined the Bank on 1 July 2013. After a thirteen-year career with Goldman Sachs in its London, Tokyo, New York and Toronto offices, Mark Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In November 2004, he left the Bank of Canada to become Senior Associate Deputy Minister of Finance. He held this position until his appointment as Governor of the Bank of Canada on 1 February 2008. Mark Carney served as Governor of the Bank of Canada and Chairman of its Board of Directors until 1 June 2013.

Amartya Sen is Thomas W Lamont University Professor and Professor of Economics and Philosophy at Harvard University. He is the recipient of the 1998 Nobel Prize in Economics and an LSE Honorary Fellow.

Nicholas Stern is the Chair of the Grantham Research Institute on Climate Change and the Environment at the LSE and is currently the President of the British Academy.
Year(s) Of Engagement Activity 2017
URL http://www.lse.ac.uk/website-archive/newsAndMedia/videoAndAudio/channels/publicLecturesAndEvents/pla...
 
Description Political Accountability and Policy Experimentation: Why to Elect Left-Handed Politicians 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact The 2013 RES Conference was held at Royal Holloway University of London, 3 to 5 April 2013. Keynote lectures were given by Raquel Fernandez (New York University), Matthew Jackson (Stanford), Charles Manski (Northwestern) and Richard Blundell (UCL).

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Political Consequences of Natural-Resource Windfalls 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Francesco Caselli which sparked questions and discussion afterwards
We study theoretically and empirically whether natural resource windfalls affect political regimes. We document the following regularities. Natural resource windfalls have no effect on the political system when they occur in democracies. However, windfalls have significant political consequences in autocracies. In particular, when an autocratic country receives a positive shock to its flow of resource rents it responds by becoming even more autocratic. Furthermore, there is heterogeneity in the response of autocracies. In deeply entrenched autocracies the effect of windfalls on politics is virtually nil, while in moderately entrenched autocracies windfalls significantly exacerbate the autocratic nature of the political system.

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Political Economy Conference 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presenter at Political Economy Conference at the University of Pennsylvania

Lead to increased networking and visits to CFM
Year(s) Of Engagement Activity 2013
 
Description Politics after Brexit and Trump: Rick Pildes in conversation with Mervyn King 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact A year of unpredictable political upheavals in the industrialised world promises an interesting period ahead. What are the lessons from Brexit and the Trump election for our democracy?

Richard H. Pildes is the Sudler Family Professor of Constitutional Law at the New York University Law School. He is one of the nation's leading scholars of constitutional law and a specialist in legal issues affecting democracy.

Mervyn King was Governor of the Bank of England from 2003 to 2013, and is currently School Professor at the London School of Economics and Political Science. Lord King was made a life peer in 2013, and appointed by the Queen a Knight of the Garter in 2014.
Year(s) Of Engagement Activity 2017
URL http://www.lse.ac.uk/website-archive/newsAndMedia/videoAndAudio/channels/publicLecturesAndEvents/pla...
 
Description Precautionary Saving and Aggregate Demand 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Morten Ravn as part of a discussion group on the topic Precautionary Saving and Aggregate Demand which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Presentation by Pontus Rendahl - Goethe University Frankfurt 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation made by Pontus Rendahl at the University of Singapore

Requests for more information
Year(s) Of Engagement Activity 2014
 
Description Presentation by Prof. Numan Kurtulmus 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Prof. Numan Kurtulmus, Vice-Chair of AK Party, Turkey, is in charge of Economic Affairs. He discussed his ideas on the transformation for a just and democratic system in Turkey.

This talk was moderated by Prof. Wouter den Haan and co-sponsored by the Centre for Macroeconomics. It generated questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Presentation on Productivity and Long-Run growth in Brazil 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Tiago Cavalcanti gave this presentation on numerous occasions at the presidential program of the political campaign of Marina Silva - Brasil, this lead to several interviews to Brazilian and international media. The talk sparked questions and discussion afterwards

Increased requests about further participation and involvement and plans for future related activities
Year(s) Of Engagement Activity 2014
 
Description Presentations (3) on effects of liquidity enhancing transfers - various locations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Giancarlo Corsetti at various locations; CIM CFM UCL and CSEF Conference "Aggregate Fluctuations: Causes and Consequences" Siracusa - June 13/14, 2014, Bank of Estonia, Science Po Paris. This talk sparked questions and discussion afterwards

Requests for more information and future presentations
Year(s) Of Engagement Activity 2014
 
Description Presentations (6) of work on competitiveness and stabilization policy 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Giancarlo Corsetti at various locations; National University of Singapore, London Business School, Banco de Espana, Universidade Nova de Lisbona, Yale University, New York Fed. This talk sparked questions and discussion afterwards

There was a higher than expected interest, requests for more information and further participation
Year(s) Of Engagement Activity 2014
 
Description Productivity Dynamics in the Great Stagnation: Evidence from British Businesses 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Chiarra Rosazza Bondibene at the Work and Pensions Group Annual conference, University of Sheffield, which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Productivity Dynamics in the Great Stagnation: Evidence from British Businesses - University of Manchester 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at the University of Manchester by Chiarra Rosazza Bondibene which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Productivity Dynamics in the Great Stagnation: Evidence from British Businesses - University of Sheffield 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given at the Work and Pensions Group Annual conference, University of Sheffield by Chiarra Rosazza Bondibene which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Prospects for Economic Growth in the UK - CFM Survey April 2014 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.

Requests for interviews from journalists, raised the profile of CFM and the work of CFM
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/prospects-economic-growth-uk-april-2014
 
Description Prospects for UK Growth - A New Survey 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Media report as a response to the New CFM survey, this generated lots of interest in the work of CFM and the CFM survey

Requests for further information and participation
Year(s) Of Engagement Activity 2014
 
Description Public Lecture, A Conversation with Ben Bernanke 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/10/20151028t1830vLSE.aspx
 
Description Public Lecture, Are Welfare Programmes Just Keeping People Out of Work? An Economist's Take on Benefits Street, Camille Landais 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 200 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
 
Description Public Lecture, Clear and Present Challenges to the Chinese Economy, Keyu Jin 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2016
URL http://www.lse.ac.uk/publicEvents/events/2016/03/20160309t1830vOT.aspx
 
Description Public Lecture, Debt and austerity: post-crisis lessons from Ireland, Patrick Honohan, Charles Bean 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session, and was referenced in media mentions.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/11/20151117t1830vOT.aspx
 
Description Public Lecture, Debt, Demographics and the Distribution of Income: new challenges for monetary policy, Gertjan Vlieghe 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2016
URL http://www.lse.ac.uk/publicEvents/events/2016/01/20160118t1830vOT.aspx
 
Description Public Lecture, Economics Rules: the rights and wrongs of the dismal science, Dani Rodrik 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/10/20151007t1830vOT.aspx
 
Description Public Lecture, Economics of Migration, Alan Manning 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 200 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2016
URL http://www.lse.ac.uk/publicEvents/events/2016/01/20160112t1830vHKT.aspx
 
Description Public Lecture, GDP: a brief but affectionate history, Diane Coyle 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 200 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/11/20151116t1830vWT.aspx
 
Description Public Lecture, Hall of Mirrors, Barry Eichengreen 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/01/20150121t1830vOT.aspx
 
Description Public Lecture, How to See into the Future, Tim Harford 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/02/20150205t1830vOT.aspx
 
Description Public Lecture, Hubris: why economists failed to predict the crisis and how to avoid the next one, Lord Desai, Charles Goodhart, Stephen King 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/05/20150527t1830vOT.aspx
 
Description Public Lecture, In Conversation with Professor Lawrence H. Summers 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion and screened live in additional theatre, followed up in a question and answer session and media mentions.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/01/20150120t1400vOT.aspx
 
Description Public Lecture, Inequality and Taxation in a Globalised World, Dr Gabriel Zucman 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/01/20150120t1830vHKT.aspx
 
Description Public Lecture, Other People's Money, John Kay 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/10/20151020t1830vOT.aspx
 
Description Public Lecture, Phishing for Phools: the economics of manipulation and deception, Robert Shiller 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/11/20151111t1830vOT.aspx
 
Description Public Lecture, Should Markets be Moral? Felix Martin and Professor Lord Skidelsky 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/01/20150114t1830vOT.aspx
 
Description Public Lecture, The End of Alchemy, Mervyn King 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2016
URL http://www.lse.ac.uk/publicEvents/events/2016/03/20160301t1830vLSE.aspx
 
Description Public Lecture, When to Rob a Bank: a rogue economist's guide to the world, Stephen Dubner, Tim Harford 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/05/20150527t1700vOT.aspx
 
Description Public Lecture, When, Why, and What's Next for Low Inflation? No Magic Slippers Needed, Kristin Forbes 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 450 attended public discussion, which followed up in a question and answer session, and was referenced in media mentions.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/06/20150617t1830vSZT.aspx
 
Description Public Lecture, Yes, it is a Curse: politics and the adverse impact of natural-resource riches, Francesco Caselli 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Audience of around 200 attended public discussion, which followed up in a question and answer session.
Year(s) Of Engagement Activity 2015
URL http://www.lse.ac.uk/publicEvents/events/2015/03/20150304t1830vHKT.aspx
 
Description Public debate on Scotland's Future - Angus Armstrong (March 2014) 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Angus Armstrong was part of a public debate on Scotland's future which resulted in questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Public sector debt, borrowing, taxation and fiscal rules - Angus Armstrong 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Policymakers/parliamentarians
Results and Impact Evidence to Scottish Parliament's Finance Committee and Evidence to Scottish Parliament's Economy Committee which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Quantifying Confidence - Morten Ravn 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Morten Ravn in Sicily which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Questioning secular Stagnation 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Media mention as a response to CFM survey, this resulted in increased interest in the CFM Survey and the CFM

Increased interest in the CFM survey and the work of CFM
Year(s) Of Engagement Activity 2014
 
Description Radio interview on new inflation calculator on 5 live breakfast show 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Public/other audiences
Results and Impact Interview with M McMahon, BBC Radio 5Live Breakfast Show

Created discussion, and requests for more information
Year(s) Of Engagement Activity 2013
 
Description Ran Spiegler - Behavioral industrial organization and consumer protection 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Presenting cutting edge research in behavioral IO and consumer protection to academics and regulators. Considerable interest at FCA and CMA in pursuing ideas presenting at the conference and in continuing interaction.
Year(s) Of Engagement Activity 2014
URL https://www.ucl.ac.uk/economics/non-seminar/index/edit/behavioural-industrial
 
Description Reassessing the fiscal multiplier 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Dawn Holland presenter at the EBEA Bank of England conference: Current Policies and their Consequences for the UK this talk sparked questions and discussion afterwards

This lead to an increase in requests for further participation, information and involvement
Year(s) Of Engagement Activity 2013
 
Description Reducing migration from "hundreds of thousands to tens of thousands" 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact RGEI aims to advance our knowledge of the economic contribution of immigrants in order to improve policy development in the areas of immigration and the integration of immigrants in Canada. Research priorities include the contribution of immigrants to human capital intensity; the integration of immigrants in Canada's labour market; the economic performance of immigrants in Quebec relative to that of immigrants outside Quebec; and the efficiency of Canada's immigration policies

Increased requests for further information and involvement
Year(s) Of Engagement Activity 2013
 
Description Reducing migration from "hundreds of thousands to tens of thousands" 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Seminar given to NIESR, UK by Katerina Lisenkova which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2013
 
Description Rethinking Macroeconomics Conference - cohosted by CFM and NIESR 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Professional Practitioners
Results and Impact he need for new ideas in macroeconomics is clear. The monetary, fiscal and financial policy rules, designed on
the theories and predictions of the universal paradigm of modern macroeconomics, ended in spectacular
failure. Champions of modern macroeconomics, for example Robert Lucas, asserted that its main objective of
preventing depression conditions had been solved.
Not only has this proved to be false, especially in some
European countries, but the core model has
failed to provide useful insights for policy makers having to
understand the causes and hence respond to the largest economic crisis for two generations.
The aim of the conference was to start a discussion about what needs to be done to transform
macroeconomics back into a useful policy science. Each session involved an opening statement by our
panellists and an opportunity to respond to each other with enough time for an open dialogue with the
audience.
Year(s) Of Engagement Activity 2016
URL http://www.centreformacroeconomics.ac.uk/pdf/Events/1611-NIESR.pdf
 
Description Riksbank Seminar - Stockholm 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact talk given by Wouter DenHaan in Stockholm Sweden, the talk sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Saving During Retirement - Mariacristina De Nardi 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Mariacristina De Nardi at the International Pension Workshop, NETSPAR, Venice, This talk sparked questions and discussion afterwards

Increased requests for further information and plans made for future activities
Year(s) Of Engagement Activity 2014
 
Description Savings and Wealth Inequality - Mariacristina De Nardi 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Mariacristina De Nardi at the Redesigning the Wealfare State for Aging Societies Conference, International Institute for Public Finance, Lugano 2014. This talk sparked questions and discussion afterwards.

Increase in requests for further information and plans made for future activity
Year(s) Of Engagement Activity 2014
 
Description Scotland's borrowing costs - Angus Armstrong 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Speech given by Angus Armstrong to Scottish Fellowship Committee on 5th August 2014 which sparked questions and discussion afterwards

Increase in requests for further information, participation and involvement
Year(s) Of Engagement Activity 2014
 
Description Scottish Economy would be worse off... - WSJ article 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Article in Wall Street Journal which referenced the CFM survey. This sparked questions and discussion

Lead to increased requests for information and interviews
Year(s) Of Engagement Activity 2014
URL http://online.wsj.com/articles/scottish-economy-would-be-worse-off-if-independent-economists-say-140...
 
Description Scottish Independence is bad Economics for 3 reasons - The Conversation 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact Article in The Conversation referencing the June 2014 CFM Survey. This sparked questions and discussion afterwards

More interest in CFM and the work of CFM
Year(s) Of Engagement Activity 2014
URL https://theconversation.com/scottish-independence-is-bad-economics-for-three-reasons-28427
 
Description Scottish Independence:Alex Slamond claims...... - The Independent 
Form Of Engagement Activity A press release, press conference or response to a media enquiry/interview
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact article in the Independent following the CFM June 2014 survey. This sparked questions and discussion afterwards

Increased requests for interviews and information
Year(s) Of Engagement Activity 2014
URL http://www.independent.co.uk/incoming/scottish-independence-alex-salmond-claims-britain-is-one-of-th...
 
Description Search and Matching Conference - Edinburgh 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Wouter DenHaan in Edinburgh which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Sectoral shocks and monetary policy in the United Kingdom - Cardiff Universtiy Business School 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Talk given by Stephen Millard at Cardiff University Business School which sparked questions and discussion afterwards

Deeper relationships, more discussion, greater ability to impact
Year(s) Of Engagement Activity 2014
 
Description Secular Stagnation - CFM Survey October 2014 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Public/other audiences
Results and Impact The monthly CFM survey informs the public about the views held by prominent UK-based economists on important macroeconomic and public policy questions. The survey sheds light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.




Requests for interviews from journalists, raised the profile of CFM and the work of CFM
A. Armstrong, F. Caselli, J. Chadha, W. Den Haan
Year(s) Of Engagement Activity 2014
URL http://cfmsurvey.org/surveys/secular-stagnation
 
Description Selective Hiring and the Cost of Fluctuations 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Royal economic Society Annual conference. The 2013 Conference was held at Royal Holloway University of London, 3 to 5 April 2013. Keynote lectures were given by Raquel Fernandez (New York University), Matthew Jackson (Stanford), Charles Manski (Northwestern) and Richard Blundell (UCL). That sparked discussion on research topics

Decision made for presentations at future activities
Year(s) Of Engagement Activity 2013
 
Description Seminar presentation at Banco de Espana - Pontus Rendahl 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation made by Pontus Rendahl at Banco De Espana

Requests for more information
Year(s) Of Engagement Activity 2014
 
Description Seminar, Central Banks and Digital Currencies, Ben Broadbent 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Audience of around 60 attended seminar, which followed up in a question and answer session and cited in national media.
Year(s) Of Engagement Activity 2016
URL http://www.bankofengland.co.uk/publications/Pages/speeches/2016/886.aspx
 
Description Seminars (4) on Monetary Backstops to government debt - Various venues 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation given by Giancarlo Corsetti at various venues: 'The European Crisis: Causes and Consequences" Bonn University June 20-21 2014, FRBNY-HKMA Conference on Domestic and International Dimensions of Unconventional Monetary Policy, March 20-21,Hong Kong, Banco Central de Portugal, University of Amsterdam. This sparked questions and discussion afterwards

Requests for more information, further involvement and future activities
Year(s) Of Engagement Activity 2014
 
Description Series of lectures to introduce students to the recent literature on The macroeconomics of uncertainity shocks 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Postgraduate students
Results and Impact This series of lectures introduced students to the recent literature on the macroeconomics of uncertainty shocks (also known as volatility shocks).
Macroeconomics is concerned with the dynamic effects of shocks. For instance, the real business cycle research program originated with an investigation of the consequences of changes in productivity. Later, the new generation of monetary models of the late 1990s and early 2000s was particularly focused on shocks to monetary policy. In open macroeconomics, considerable attention has been devoted to shocks to the interest rate (Mendoza, 1991) or to the terms of trade. Similar examples can be cited from dozens of other subfields of macroeconomics, from asset pricing to macro public finance: researchers postulate an exogenous stochastic process and explore the consequences for prices and quantities of innovations to it.
Year(s) Of Engagement Activity 2016
URL https://www.ucl.ac.uk/economics/non-seminar/macro-masterclass
 
Description Skill Reallocation in Dual Labour Markets 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Participants in your research and patient groups
Results and Impact presentation given at LSE seminar

Increased requests for further information
Year(s) Of Engagement Activity 2013
 
Description Speculative Runs on Interest Rate Pegs - CEMFI Madrid 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Conference (IX REDg), presentation given by Marco Bassetto which sparked questions and discussion

High interest, requests for more information and collaboration
Year(s) Of Engagement Activity 2014
 
Description Speculative Runs on Interest Rate Pegs - CREI Barcelona 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation by Marco Bassetto at CREI Barcelona which sparked questions and discussion

High interest, requests for more information and collaboration
Year(s) Of Engagement Activity 2014
 
Description Speculative Runs on Interest Rate Pegs - Goethe Universitaet Frankfurt 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation by Marco Bassetto which sparked questions and discussion afterwards

Requests for more information
Year(s) Of Engagement Activity 2014
 
Description Speculative Runs on Interest Rate Pegs - NIESR 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Regional
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Lecture by Marco Bassetto which sparked questions and further discussion

Requests for more information
Year(s) Of Engagement Activity 2014
 
Description Speculative Runs on Interest Rate Pegs - Norges Bank 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Policymakers/parliamentarians
Results and Impact Presentation by Marco Bassetto which resulted in continued discussion and requests for more information

High interest, possibility of future activities
Year(s) Of Engagement Activity 2014
 
Description Speculative Runs on Interest Rate Pegs - Nottingham University 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Other academic audiences (collaborators, peers etc.)
Results and Impact Presentation by Marco Bassetto which sparked questions and discussion afterwards

High interest, requests for more information and collaboration
Year(s) Of Engagement Activity 2014
 
Description Speculative Runs on Interest Rate Pegs - Sveriges Riksbank 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach Local
Primary Audience Professional Practitioners
Results and Impact Presentation given by Marco Bassetto at Sveriges Riksbank which sparked questions and discussion afterwards

High interest, requests for more information and collaboration
Year(s) Of Engagement Activity 2014
 
Description Speculative Runs on Interest Rate Pegs - UCL 
Form Of E