Profile

Professor of Economics

Office: Keynes, Cg.9
Telephone: +44 (0) 1227 823026
Email: Miguel Leon-Ledesma
Consultation hours: Mon 11:30-12:30 and 14:00-15:00

Miguel Leon-Ledesma is Professor of Economics and joined the University of Kent in 1999.

Miguel is a regular consultant for the European Central Bank, and has consulted for the Asian Development Bank and the Central Bank of the Dominican Republic. He has been a visiting researcher at the universities of Frankfurt, UTS (Sydney) and Kiel, and a Visiting Professor at University of Aix-Marseille.

Miguel's personal webpages are at:
http://sites.google.com/site/miguelleonledesmaspernonalsite/Home

Research

Research interests

Miguel's research interests are on the areas of Macroeconomics, Applied Econometrics and Economic Growth. He is currently working on the estimation of the elasticity of substitution and the bias in technical progress, and their consequences for growth and business cycles. He has carried out extensive work on international macroeconomics, unemployment dynamics and nonlinear time-series methods. Miguel is currently writing a post-graduate textbook on International Macro and Finance for Oxford University Press.

Miguel's RePEc page is http://econpapers.repec.org/RAS/ple108.htm

Current work

Working papers

• Miguel A León-Ledesma, Peter McAdam and Alpo Willman, 2012. "Non-Balanced Growth and Production Technology Estimation", Studies in Economics 1204, Department of Economics, University of Kent
  
  
• Miguel A León-Ledesma and Mathan Satchi, 2011. "The Choice of CES Production Techniques and Balanced Growth", Studies in Economics 1113, Department of Economics, University of Kent.
  
  
• Cristiano Cantore, Filippo Ferroni and Miguel A León-Ledesma, 2012. "Interpreting the Hours-Technology time-varying relationship", Studies in Economics 1201, Department of Economics, University of Kent.
  
  
• Miguel A. León-Ledesma, Peter McAdam and Alpo Willman, 2011. "Aggregation, the skill premium, and the two-level production function", Working Paper Series 1400, European Central Bank.
  
  
• Cristiano Cantore, Miguel A. León-Ledesma, Peter McAdam and Alpo Willman, 2010. "Shocking stuff: technology, hours, and factor substitution", Working Paper Series 1278, European Central Bank.
  
  
• Dimitris Christopoulos & Miguel A. León-Ledesma, 2009. "On causal Relationships Between Exchange Rates and Fundamentals: Better Than You Think", Studies in Economics 0909, Department of Economics, University of Kent.
  
  
• Aikaterini Karadimitropoulou and Miguel A. León-Ledesma, 2009. "Sources of Current Account Fluctuations in Industrialized Countries", Studies in Economics 0910, Department of Economics, University of Kent.
  
  
• Dimitris Christopoulos and Miguel León-Ledesma, 2009. "Efficiency and frontier technology in the aftermath of recessions: international evidence", Studies in Economics 0922, Department of Economics, University of Kent.

 

Publications

Articles

"Real exchange rates and net foreign assets in constrained and unconstrained economies" (with K. Gente and D. Christopoulos). Forthcoming: European Economic Review.

"International output convergence, breaks and asymmetric adjustment" (with D. Christopoulos). Studies in Nonlinear Dynamics and Econometrics, BEP, 2011, vol 15(3).

"Identifying the Elasticity of Substitution with Biased Technical Change" (with Peter McAdam and Alpo Willman). The American Economic Review, 2010, 100(4): 1330-1357.

“Post-Bretton-Woods Real Exchange Rates: mean reverting with nonlinear adjustment” (with D. Christopoulos). Journal of International Money and Finance, 2010, 29(6), 1076-1093.

"Revisiting the real wages – unemployment relationship: new results from nonlinear models" (with D. Christopoulos). Bulletin of Economic Research, 2010, 62(1), 0307-3378.

“What did we really know about current account sustainability in the USA?” (with D. Christopoulos). Journal of International Money and Finance, 2010, 29(3), 442-459.

"The effect of the oil price on China's exports" (with J.R. Faria, A.V. Mollick and P. Albuquerque). China Economic Review, 2009, 20(4), 793-805.

“Remittances, Institutions and Economic Growth” (with, N. Catrinescu, M. Piracha and B. Quillin). World Development, 2009, 37(1), 81-92.

“Time series output convergence tests and stationary covariates” (with D. Christopoulos). Economics Letters, 2008, 101, 297-299.

“Can globalization stop the decline in commodities’ terms of trade?” (with J.R.Faria, A.V.Mollick and P.Albuquerque). Cambridge Journal of Economics, 2008, 32, 683–701.

“Testing for Granger (non-)causality in a time-varying coefficients VAR model” (with D. Christopoulos). Journal of Forecasting 27, 293-303, 2008.

“A simple nonlinear dynamic model of unemployment: explaining the Spanish case” (with J.R. Faria). Discrete Dynamics in Nature and Society, volume 2008, Article 981952, 2008.

“How is real convergence driving nominal convergence in the new EU member states?" (with Sarah Lein-Rupprecht and Carolin Nerlich) Journal of International Money and Finance 27, 2008, 227-248.

“Non-linearities and unit roots in G7 macroeconomic variables” (with Yunus Aksoy). The B.E. Journals in Macroeconomics vol 8: Iss. 1 (Topics), Article 5, 2007.

“A Long-run Nonlinear Approach to the Fisher Effect” (with, D.K. Christopoulos). Journal of Money, Credit and Banking 39 (2-3), 2007, 543-559.

“Does the Real Interest Parity Hypothesis Hold? Evidence for Emerging and Developed Countries.” (with A.L. Ferreira). Journal of International Money and Finance 26, 2007, 364-382.

“Does the world real interest rate affect the real exchange rate? The SEA experience” (with, Karine Gente). Journal of International Trade and Economic Development 15 (4), 2006, 441-467.

“Population and growth: is there a puzzle?” (with J. Faria and A. Sachida). Journal of Development Studies 42 (6), 2006, 909-917.

“Exports, Product Differentiation and Knowledge Spillovers.” Open Economies Review, 17, 2005, 363-379.

“Real Exchange Rate and Employment Performance in an Open Economy” (with J. Faria,). Research in Economics, 59, 2005, 67-80.

“International Migration and the Role of Remittances in Eastern Europe” (with M. Piracha). International Migration, 42(4), 2004, 65-83.

“Unemployment, Hysteresis and Transition” (with P. McAdam). Scottish Journal of Political Economy, 51(3), 2004, 277-401.

“Habit Formation, Work Ethics and Technological Progress.” (with J.R. Faria) The Manchester School, 72(3), 2004, 403-413.

“Testing the Balassa-Samuelson Effect: Implications for Growth and the PPP” (With: J. Faria). Journal of Macroeconomics, 25(2), 2003, 241-253.

“Unemployment Hysteresis in the US States and the EU: a Panel Approach”. Bulletin of Economic Research, 54(2), 95-104, 2002.

“The Endogeneity of the Natural Rate of Growth” (with: A.P. Thirlwall). Cambridge Journal of Economics, 26(4), 2002.

“Accumulation, Innovation and Catching-up: an Extended Cumulative Growth Model.” Cambridge Journal of Economics, 2002, 26(2), 201-216.

Selected contributions to books

"Skills and Technology: Estimating Wage Premiums with a Supply Side Approach" (with P. McAdam and A. Willman) in de La Grandville and K. Choi (eds), Frontiers in Economics and Globalization, vol 11, Emerald, 2011.

"Growth with Biased Technical Progress and Factory Complementarity: a New Approach" (with M. Satchi) in de La Grandville and K. Choi (eds), Frontiers in Economics and Globalization, vol 11, Emerald, 2011.

"The Link Between Real and Nominal Convergence: The Case of the New EU Member States" (with S. Lein and C.Nerlich), in Reiner Martin and Adalbert Winkler (eds), Real Convergence in Central, Eastern and South-Eastern Europe, Macmillan, 2009.

"The endogenous nature of the natural rate of growth" (with M. Lanzafame), in M. Stetterfield (ed.), Handbook of Alternative Theories of Economic Growth, Edward Elgar, 2009.

'Cycles, Aggregate Demand and Growth', in P. Arestis, J. McCombie and R. Vickerman (eds): Growth and Economic Development: Essays in Honour of A. P. Thirlwall, Edward Elgar, 2007.

'Is the natural rate of growth exogenous? (with A. P. Thirlwall), in P. Arestis, M. Baddeley and J.S.L. McCombie (eds), Economic Growth: New Directions in Theory and Policy, Edward Elgar, 2007

'Cumulative growth and the catching-up debate from a dis-equilibrium standpoint', in J.S.L. McCombie, M. Pugno and B. Soro (eds), Productivity Growth and Economic Performance, Macmillan, 2004

'Export performance and R&D spillovers in 21 OECD countries', in J.R. Faria and A. Levi (eds), Economic Growth, Inequality and Migration, Edward Elgar, 2002

Books

Advanced International Macro and Finance (with A. Mihailov), Oxford University Press, expected date of publication: end of 2012

Teaching

Undergraduate

• EC502 Macroeconomics
• EC548 International Finance

Postgraduate

• EC816 International Financce

PhD supervision

Current students

• Ms Aikaterini Karadimitropoulou: “Recessions, growth and restructuring: cross-sectoral and cross country evidence"
• Mr Timo Bettendorf: "Essays on Global imbalances and capital flows"
• Ms Monica Paganini: "Firm efficiency, misallocation and productivity in African countries"
• Mr Jonathan Hughes: "Exchange rate volatility, growth and recoveries"
• Ms Aydan Dogan: "Essays on International macroeconomics"

Past students

• Dr Alex L. Ferreira: "Causes of real interest rate differentials between emerging and developed countries". Completed: August 2005. Destination: University of Sao Paulo, FEARP.
• Dr Jose Eduardo Ferreira: "Empirical Essays on Exchange Rate Determination: Fundamentals, Bubbles and News". Completed: October 2005. Destination: Central Bank of Brazil.
• Dr Brinda Sooreea: "FDI and Growth in Developing Countries". Completed: January 2006. Destination: University of Mauritius.
• Dr Reginaldo Nogeira: "Inflation targeting in Emerging Markets". Completed: September 2007. Destination: Ibmec Business School, BH, Brazil.
• Dr Gabriele Amorosi: “Essays on income distribution and financial access”. Completed: February 2012. Destination: University of Hull.

Administrative roles

• Director of Research