Senior Research and Policy Advisor at @bankofengland. Same handle on Threads. All views are my own.
Joined February 2022
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My personal website is now on github: rharrisonmacro.github.io/
It includes links to (some) replication codes and I plan to add more over time.
Richard Harrison retweeted
Delighted to see my paper with Emile Marin @UCDavisEcon, “Capital Controls and Trade Policy”, out at @JIntlEcon. We study #trade and #capitalflow policies in unified setting, asking: how does optimal cross-border #financialpolicy change with #trade policies? @BoE_Research (1/4)
New: "Capital controls and trade policy" by Simon Lloyd (@splloyd_econ) and Emile Marin (@UCDavisEcon). How does optimal capital-flow management change with prevailing trade policies?
doi.org/10.1016/j.jinteco.20… 1/2
Richard Harrison retweeted
Our paper
"The Brexit Vote, Productivity Growth and Macroeconomic Adjustments in the United Kingdom"
with Ben Broadbent @FedeDiPa @rHarrisonMacro and Silvana Tenreyro
is now published in REStud!
academic.oup.com/restud/adva… @RevEconStudies
A brief thread about the paper:
Richard Harrison retweeted
Boom-bust cycles in house prices & private debt can lay groundwork for deep financial crises.
Prof @APFerrero explores this in recently published paper, 'House Price Dynamics, Optimal LTV Limits and the Liquidity Trap' (joint with co-authors).
Read here:lnkd.in/e6KPncvY
Richard Harrison retweeted
Congratulations to @_SiLviA_mA and @ricco_giovanni for their great paper (and work)! The annual American Economic Journal (AEJ) Best Paper Awards: "The Transmission of Monetary Policy Shocks," Silvia Miranda-Agrippino, and Giovanni Ricco 13(3), (pp.74-107) 2021 @lbs @cepr_org
Richard Harrison retweeted
New CEPR Discussion Paper - DP18943
#Capital Flows and #ExchangeRates: A Quantitative Assessment of the Dilemma Hypothesis
@AmbrogioCB @bankofengland, @APFerrero @UniofOxford, Shangshang Li @LivUni
ow.ly/o4bt50R15FM
#CEPR_IMF #economics
Richard Harrison retweeted
Paper by Michael McLeay (BoE) and Silvana Tenreyo (LSE) on optimal inflation and the identification of the Phillips curve appears in the 2024 Economic Report of the President released by the Council of Economic Advisers journals.uchicago.edu/doi/fu…
Richard Harrison retweeted
🧵SWP 1065 by Tim Willems (BoE) + Rick van der Ploeg (Oxford Uni) develops a model where workers and firms can differ in their desired markups, and explores how this affects wage-price dynamics and (optimal) monetary policy... bankofengland.co.uk/working-…
Very pleased to have (finally) completed an update of my 2017 working paper. Many thanks to @BoE_Research for the great summary thread.
SWP 1063 by Richard Harrison develops a simple portfolio balance model of QE to explore optimal combination of balance sheet + interest rate policy in tightening phase.
bankofengland.co.uk/working-…
Richard Harrison retweeted
I have a new #bankunderground @BoE_Research blogpost out with @BoncianiDario! We study how well a Bayesian VAR forecasts inflation in the face of large terms of trade shocks.
Key finding: it turns out the VAR predicts the recent inflation spike surprisingly well if (1/2)
BU post develops Bayesian VAR and explores its ability to forecast in the face of large terms of trade shocks.
bankunderground.co.uk/2024/0…
Richard Harrison retweeted
Happy to share our latest publication on climate and monetary policy. We look at the role of expectations in shaping economic outcomes during a green transition. A big shoutout to my brilliant co-authors @Baannic & @FabioDiDio76. Dive into the findings ➡️sciencedirect.com/science/ar…
Richard Harrison retweeted
BoE's Ryland Thomas blogs about the British Government Securities Database and its move to the BoE-@ESCoEorg-ONS historical data repository.
The British Government Securities Database is moving to ESCoE. Hosted for years by @HeriotWattUni & Faculty of Actuaries this series of fixed interest stocks in the UK will now be curated by ESCoE. Read Ryland Thomas blog on the history of the database at tinyurl.com/w83azt4s
Richard Harrison retweeted
You have two days left to register for our joint workshop on Behavioural Macro and Finance with the LSE European Institute. Join us on 19th Jan. In person + online registration at:
lse.ac.uk/european-institute…
Richard Harrison retweeted
Thanks to @FTAlphaville for picking up or work on Global R* 😊
w @rHarrisonMacro and Rana Sajedi
ft.com/content/059aeded-3312…
Richard Harrison retweeted
BU post delves into forces driving global equilibrium real rates. Finds 3pp fall since 1970s driven by falling productivity growth + increased longevity. Unless these trends reverse/new forces emerge to offset them, long-run global R* likely to remain low
bankunderground.co.uk/2023/1…
Richard Harrison retweeted
Global R* has declined over 3% since the mid-70s due to lower productivity growth & increased longevity. Absent a reversal in trends or counteracting forces, a sustained low Global R* is anticipated.
@AmbrogioCB, @rHarrisonMacro, Rana Sajedi @bankofengland
ow.ly/tCGi50Qejx1
Richard Harrison retweeted
To form a view on the long-run prospects for global interest rates, it's important to understand the driving forces underlying their secular trends
New blog post based on our paper 𝑮𝒍𝒐𝒃𝒂𝒍 𝑹*, with @rHarrisonMacro and Rana Sajedi 👇
bankunderground.co.uk/2023/1…
Richard Harrison retweeted
Silvana Tenreyro, @LSEEcon, now looks at whether the 2016 #referendum result provided news on a slowdown in future traded sector productivity as a result of a #Brexit.
3/n
@NIESRreview
Richard Harrison retweeted
New CEPR Discussion Paper - DP18595
Measuring Monetary Policy in the UK: the UK Monetary Policy Event-Study Database
Robin Braun @robin_braun @federalreserve, Silvia Miranda-Agrippino @_SiLviA_mA @NewYorkFed, Tuli Saha @bankofengland
ow.ly/KuiG50Q8Fkk
#CEPR_MEF
