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The Cambridge-INET Institute


The "Transmission Mechanisms and Economic Policy" theme at the Cambridge-INET Institute brings together researchers conducting fundamental research in macroeconomics. We use a variety of approaches – encompassing micro and macro econometrics, macro models and historical and institutional analysis – to develop theoretical and empirical work on a wide range of issues, from firm growth and firm churning to household level savings and inequality, from unemployment dynamics to supply chains, from the analysis of monetary policy to international finance and global imbalances. Our research aims to generate inputs for stabilisation and structural policy.


Giancarlo Corsetti

Prof. Giancarlo Corsetti
Professor of Macroeconomics

Research Interests
International Economics and Open Economy Macroeconomics

Meredith Crowley

Prof. Meredith Crowley
University Reader

Research Interests
International trade and trade policy

Published Papers

Production Networks: A Primer
Carvalho, V. M. and Tahbaz-Salehi, A., (2019), Annual Review of Economics

Large Firm Dynamics and the Business Cycle
Carvalho, V. M. and Grassi, B., (2019), American Economic Review

Policy shocks and stock market returns: evidence from Chinese solar panels
Crowley, M. A., Meng, N. and Song, H., (2019), Journal of the Japanese and International Economies

Tariff scares: Trade policy uncertainty and foreign market entry by Chinese firms
Crowley, M. A., Meng, N., and Song, H., (2018), Journal of International Economics

Are prices enough? The economics of material demand reduction
Aidt, T.S., Lili, J. and Low, H., (2017), Philosophical Transactions of the Royal Society A : Mathematical, Physical and Engineering Sciences


See all the Published Papers for the Transmission Theme

Working Papers

See all the Working Papers for the Transmission Theme


Dr Jordi Gali
Senior Researcher, CREI

Macroeconomic Theory and Monetary Economics

Visiting between:
(04 Nov 2019 - 07 Nov 2019)

Host: Vasco Carvalho

Dr Antonio Dalla-Zuanna
Research Associate at the Institute for Fiscal Studies

Labour economics and the economics of education

Visiting between:
(24 Sep 2019 - 25 Sep 2019)

Host: Kai Liu

Prof Petra Todd
Professor of Economics, University of Pennsylvania

Social Program Evaluation, Labor Economics, and Microeconometrics

Visiting between:
(17 May 2019 - 22 May 2019)

Host: Meredith Crowley

Luca Guerrieri
Federal Reserve Board

Formulation and Evaluation of Dynamic Models.

Visiting between:
(15 May 2019 - 20 May 2019)

Host: Giancarlo Corsetti


See all the Visitors for the Transmission Theme

Past Events

The Centenary Conference on Keynes’s Economic Consequences of the Peace

The Centenary Conference on Keynes’s Economic Consequences of the Peace

Cambridge-INET is proud to announce a major conference on Keynes’s 1919 book. The book is celebrated as a brilliant piece of advocacy by one of the 20th century’s pre-eminent economists. This distinguished event will take place at King’s College, Cambridge, on September 9th-10th 2019. See the event website for more details.

Event Date - Monday 9th September 2019 - Tuesday 10th September 2019

New Economics of Exchange Rate Adjustment

New Economics of Exchange Rate Adjustment

Cambridge-INET are holding an event "New Economics of Exchange Rate Adjustment" on 21st and 22nd March 2018, from 9.00am - 5.00pm, in The Elton-Bowring Room, Clare College, Cambridge. Please register you interest.

Event Date - Thursday 21st March 2019 - Friday 22nd March 2019

The New Malthusianism: A Symposium

The New Malthusianism: A Symposium

On the occasion of the 220th anniversary of Thomas Malthus’ Essay on Population, a small workshop will be convened at his Cambridge College to consider more recent explorations of Malthus and Malthusianism. Dr. Toke Aidt and Professor Tim Swanson are organising the event on the 12th - 13th December 2018, in the Webb Library, Jesus College, Cambridge University. MAVA Foundation, Switzerland and INET-Cambridge will be sponsoring the event.

Event Date - Wednesday 12th December 2018 - Thursday 13th December 2018

Office for National Statistics Economic Forum Roadshow

Office for National Statistics Economic Forum Roadshow

ONS Economic Forum roadshow will present the current state of the UK economy. The event will take place on 30th November 2018 from 10.00am - 12.30pm, in the Francopan Hall, Jesus College, Cambridge.

Event Date - Friday 30th November 2018

See all the Past Events for the Transmission Theme


EEA 2020 Scientific Programme Committee Chair

EEA 2020 Scientific Programme Committee Chair

Professor Vasco M. Carvalho, has been appointed the EEA 2020 Scientific Programme Committee Chair, for the 35th Annual Congress of the European Economic Association, which will held at the ERASMUS University Rotterdam (The Netherlands), on the 24th - 27th August 2020.

Published on - Wednesday 13th November 2019

National Food Strategy Advisory Panel

National Food Strategy Advisory Panel

Dr. Meredith Crowley has been appointed to the Department for Environment, Food & Rural Affairs's (DEFRA) Advisory Panel for a National Food Strategy. This advisory panel of experts from across agriculture, retail, food manufacture, NGOs and academia has today been named to support the development of the National Food Strategy.

Published on - Thursday 7th November 2019

IMF Annual Research Conference

IMF Annual Research Conference

Professor Giancarlo Corsetti will speak at The International Monetary Fund's Twentieth Jacques Polak Annual Research Conference, which is being held at the IMF headquarters in Washington DC on 7th-8th November 2019. Prof. Corsetti's talk will be on his paper "Debt Sustainability and the Terms of Official Support", joint with Aitor Erce (European Investment Bank) and Timothy Uy (Deloitte).

Published on - Wednesday 6th November 2019

The Zombie Economy

The Zombie Economy

Dr. Meredith Crowley's research "Renegotiation of Trade Agreements and Firm Exporting Decisions: Evidence from the Impact of Brexit on UK Exports", joint with Oliver Exton and Lu Han, was cited in the article "The Zombie Economy" in The Economist.

Published on - Tuesday 5th November 2019

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