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.
Coordinators:
Prof. Giancarlo Corsetti
Professor of MacroeconomicsResearch Interests
International Economics and Open Economy Macroeconomics
Prof. Meredith Crowley
University Reader
Senior Fellow, UK in a Changing Europe
Research Fellow, CEPR (London)Research Interests
International trade and trade policy
Postdoctoral
Researchers:
Dr Miguel Ferreira
Cambridge-INET Postdoctoral Research FellowResearch Interests
Macroeconomics, Fiscal Policy, Heterogeneous Agents, Firm Dynamics, Financial Crises
Dr Juan Carlos Ruiz Garcia
Cambridge-INET Postdoctoral Research FellowResearch Interests
Macroeconomics, Firm Dynamics
Published Papers
Does electricity drive structural transformation? Evidence from the United States
Gaggl, P., Gray, R., Marinescu, I. and Morin, M., (2021), Labour Economics
Beyond Competitive Devaluations: The Monetary Dimensions of Comparative Advantage
Bergin, P. R. and Corsetti, G., (2020), American Economic Journal: Macroeconomics
Inequality in the Impact of the Coronavirus Shock: Evidence from Real Time Surveys
Adams-Prassl, A., Boneva, T., Golin, M. and Rauh, C., (2020), Journal of Public Economics
Parental Beliefs About Returns to Child Health Investments
Biroli, P., Boneva, T., Raja, A. and Rauh, C., (2020), Journal of Econometrics
Liquidity and Consumption: Evidence from Three Post-earthquake Reconstruction Programs in Italy
Acconcia, A., Corsetti, G. and Simonelli, S., (2020), American Economic Journal: Macroeconomics
Official Sector Lending Strategies During the Euro Area Crisis
Corsetti, G., Erce, A. and Uy, T., (2020), The Review of International Organizations
See all the Published Papers for the Transmission Theme
Working Papers
The Imperium of the Colonial Tongue? Evidence on Language Policy Preferences in Zambia
Ramachandran, R. and Rauh, C., (WP2049)
Bottom-up Markup Fluctuations
Burstein, A., Carvalho, V. M. and Grassi, B., (WP2045)
Workers, Capitalists, and the Government: Fiscal Policy and Income (Re)Distribution
Cantore, C. and Freund, L. B., (WP2044)
Furloughing
Adams-Prassl, A., Boneva, T., Golin, M. and Rauh, C., (WP2036)
Gravity in International Finance: Evidence From Fees on Equity Transactions
Milsom, L., Pazitka, V., Roland, I. and Wójcik, D., (WP2028)
Bank Default Risk Propagation along Supply Chains: Evidence from the U.K.
Spatareanu, M., Manole, V., Kabiri, A. and Roland, I., (WP2027)
See all the Working Papers for the Transmission Theme
Visitors
Dr Danial Lashkari
Assistant Professor of Economics and International Studies Boston College
Research
Intersection of Economic Growth, Innovation, and International Trade
Visiting between:
(10 May 2021 - 14 May 2021)
Host: Vasco Carvalho
Dr Joao Duarte
Assistant Professor of Economics, Nova SBE
Research
Macroeconomics, Housing, Monetary Policy and Economic Growth
Visiting between:
(04 Mar 2020 - 08 Mar 2020)
Host: Giancarlo Corsetti
Dr Luca Dedola
European Central Bank
Research
International macroeconomics and finance, Monetary Economics
Visiting between:
(30 Jan 2020 - 03 Feb 2020)
Host: Giancarlo Corsetti
Dr Jordi Gali
Senior Researcher, CREI
Research
Macroeconomic Theory and Monetary Economics
Visiting between:
(04 Nov 2019 - 07 Nov 2019)
Host: Vasco Carvalho
See all the Visitors for the Transmission Theme
Upcoming Events
Dominant Currency Pricing Mini Conference
Cambridge-INET, the Centre for Macroeconomics and the Faculty of Economics are holding a mini conference on "Dominant Currency Pricing". Organised by Professor Giancarlo Corsetti and Balduin Bippus. It will take place on Tuesday 1st December 2020, 3:10pm-6:00pm GMT (UK) and will be held online. See the event page for more details.
Event Date - Tuesday 1st December 2020
Past Events
Rebuilding Macroeconomics Cambridge-INET Sustainable Growth Hub Workshop
Rebuilding Macroeconomics and Cambridge-INET are hosting the Sustainable Growth Hub Workshop at King's College, University of Cambridge on 16th March 2020. The aim of this workshop is to discuss the preliminary results of projects funded by the Hub. Presentations will be given on some interim findings to open up a general discussion and encourage a cross-fertilization of ideas from members of the Network.
Event Date - Monday 16th March 2020
Sandra Batten "Central Banks and Climate Change" - Public Talk
As part of the Rebuilding Macroeconomics Cambridge-INET Sustainable Growth Hub Workshop, Rebuilding Macroeconomics and Cambridge-INET are hosting a public talk by Sandra Batten (Bank of England) on Monday 16th March 2020, 03:15pm - 04:30pm in King's College, Cambridge.
Event Date - Monday 16th March 2020
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
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
See all the Past Events for the Transmission Theme
News
Keynote: 2nd European Commission-JEDC Conference
TODAY Prof. Giancarlo Corsetti is delivering the keynote speech on "The exchange rate insulation puzzle" at the 2nd European Commission-JEDC conference entitled ‘Secular Stagnation, Low Interest Rates and Low Inflation: Causes and Implications for Policy’. It is being held online from 5-6 November 2020. More information here: Event details
Published on - Thursday 5th November 2020
European Commission and De Nederlandsche Bank Conference Keynotes
Professor Giancarlo Corsetti has been invited to give two keynote speeches. The first is at the 23rd Annual Research Conference of De Nederlandsche Bank, "Monetary Non-Neutrality: The Real Effects of Monetary Policy in the Short and Long Run", on the 29th October 2020 and the second is the 2nd European Commission-JEDC conference "Secular Stagnation, Low Interest Rates and Low Inflation: Causes and Implications for Policy", on the 5th-6th November 2020.
Published on - Tuesday 27th October 2020
China's Economic Recovery Gains Momentum
China's economy is picking up steam as the country continues to steadily recover from the economic turmoil caused by the coronavirus pandemic. The world's second largest economy expanded 4.9% in the July-to-September quarter compared to a year ago, according to new Chinese government statistics. It's a V shaped recovery, according to Dr. Meredith Crowley. She was interviewed on BBC Radio 4's Today programme, and said retails sales are up, but only by 3.2%. However, the worry is that the virus could come back, and that would slow down China's economy again.
Published on - Monday 19th October 2020
Deep Trade Agreements - World Bank Webinar
Dr. Meredith Crowley will be presenting new research on trade agreements at the World Bank's "The Economics of Deep Trade Agreements Seminar Series". Dr. Crowley's new paper is "The Value of Deep Trade Agreements in the Presence of Pricing to Market", and is joint with Lu Han (Cambridge-INET affiliate and Lecturer at Liverpool University) and Thomas Prayer (Faculty of Economics, PhD student).
Published on - Friday 16th October 2020