Research Papers
1. "What monetary authorities do - an examination of reaction functions for UK, US, Germany and Japan", 1997, Schweizerische Zeitschrift fur Volkswirtschaft und Statistik, 133, pp.455-476.+
2. "Shoe-leather costs reconsidered", 1998, Economic Journal, 108, pp.363-82.+
3. "The information content of three month sterling futures", 1998, Economics Letters, 61, pp.209-214.+
4. "A long view of real interest rates", 1999, Oxford Review of Economic Policy, 15, pp.17-45.+
5. "Inflation targets, transparency and interest rate volatility: ditching `monetary mystique' in the UK", 2001, Journal of Macroeconomics, 23, pp.349-366.+
6. "Productivity and preferences in a small open economy", 2001, Manchester School, 69, pp.57-80.+
7. "Inflation and Price Level Targeting in a new Keynesian model", 2002, 70, Manchester School, pp.570-95.+
8. "Short- and long-run price level uncertainty under different monetary policy regimes: an international comparison", 2002, Oxford Bulletin of Economics and Statistics, 64(3), pp187-216.+
9. "Investigating excess returns from nominal bonds", 2003, Oxford Bulletin of Economics and Statistics, 65(1), pp73-90.+
10. "A Long View of the UK Business Cycle", National Institute Economic Review, 2002, 182, pp72-89.+
11. "Policy Rules - the Next Steps", Scottish Journal of Political Economy, 2003, 50(5).+
12. "Output, inflation and the new Keynesian Phillips curve", International Review of Applied Economics, 2004, 18(3), pp271-287.+
13. "Monetary Policy Rules, Asset Prices, and Exchange Rates", IMF Staff Papers, 2004, 51(3), pp529-552.+
14. "Interest Rate Bounds and Fiscal Policy", Economics Letters, 2004, 84(1), pp9-15.+
15. "Optimal Simple Rules for the Conduct of Monetary and Fiscal Policy". Journal of Macroeconomics, 2007, 29(4), pp665-689.+
16. "Independence Day for the `Old Lady': A Natural Experiment on the Implications of Central Bank Independence". Manchester School, 2007, 75(3), pp311-327.
17. "Macroeconomic Models of the Yield Curve: An Assessment of the Fit". Journal of Economics, Dynamics and Control, 2010, 34(8), 1343-1358 +
18. "Productivity, Preferences and UIP Deviations in an Open Economy Business Cycle Model". Open Economies Review, 2010, 21(3), 365-391.+
19. "Money, Prices and Liquidity Effects: Separating Demand from Supply". Journal of Economics Dynamics and Control, 2010, 34(9), 1732-1747.+
20. "Policy rules under the monetary and the fiscal theories of the price-level". Macroeconomics and Finance in Emerging Market Economies. 2011, 4(2), 189-212.
21. "Macro-prudential policy on liquidity: what does a DSGE model tell us?". Journal of Economics and Business, 2012, 64(1), 37--62.+
22. "Accounting for the Great Recession in the UK: Real Business Cycles and Financial Frictions". The Manchester School, 2012.+
23. "Inventories and the Stockout Constraint in General Equilibrium". BE Journal of Macroeconomics (Advances), 2014.+
24. "The Financial Market Impact of Quantitative Easing". Oxford Review of Economic Policy", 2012, 28, (4), 702-728.+
25. "The Ties that Bind: Monetary Policy and Government Debt Management". Oxford Review of Economic Policy, 29 (2) 2013.+
26. "A Note on Money and the Conduct of Monetary Policy". 2013, Macroeconomic Dynamics.+
27. "Let's Turn Forward Guidance into 20/20 Vision". Central Banking, November 2013.+
28. "Applying a Macro-Finance Yield Curve to UK Quantitative Easing". Journal of Banking and Finance, 2014.+
29. "The Microfoundations of Financial Frictions: A Tour D'Horizon". European Journal of Economics and Economic Policies: Intervention.
30. "Was the Gibson Paradox For Real? A Wicksellian study of the Relationship between Interest Rates and Prices". Financial History Review, 2014.+
31. "The New Art of Central Banking". National Institute Economic Review, November 2015.
32. "Bayesian estimation of DSGE models: Identification using a diagnostic indicator", Journal of Economic Dynamics and Control, 95, issue C, p. 172-186, 2018. +
33. "Of Gold and Paper Money", Manchester School, 86, issue S1, p. 1-20, 2018.
34. Exchange Rates, Tariffs and Prices in 1930s’ Britain, with Jason Lennard, Solomos Solomou and Ryland Thomas, In Patricia Clavin, Giancarlo Corsetti, Maurice Obstfeld, and Adam Tooze, eds. Keynes’s Economic Consequences of the Peace after 100 Years: Polemics and Policy (Cambridge University Press, forthcoming).
35. Dating Business Cycles in the United Kingdom, 1700-2010, With Stephen Broadberry, Jason Lennard and Ryland Thomas, Economic History Review (forthcoming)