Macroeconomics, Growth and History Centre (MaGHiC)
About the Centre
The Macroeconomics, Growth and History Centre (MaGHiC) is the focal point for macroeconomic research, events and PhD training at the University of Kent. The research interests of the group span macroeconomic theory, empirical macroeconomics, macroeconometrics and the macroeconomic analysis of historical data. The Centre has strengths in growth, structural change, computational economics, firm dynamics and macroeconomic history.
Researchers within the Centre have published articles in leading international journals including the American Economic Review, the Review of Economic Studies, the Journal of The European Economic Association, the Economic Journal, the American Economic Journal: Macroeconomics, the Review of Economic Dynamics, the Journal of Econometrics and many others.
Macroeconomic simulation comparison with a multivariate extension of the Markov Information Criterion
17 June 2019
by Sylvain Barde, University of Kent. Discussion paper KDPE 1908, June 2019. Non-technical summary: The paper develops and tests a multivariate extension of the Markov Information Criterion (MIC) originally developed in Barde (2017). The main motivation for the MIC is the problem of comparing the distance between a set of models and some empirical data for cases where estima...
Expert comment: UK economy grows but labour productivity continues to stagnate
15 April 2019
Professor Miguel Leon-Ledesma from the School of Economics notes that despite a small rise in UK GDP there are areas of concern, not least stagnating labour productivity. 'According to ONS figures, GDP grew by 0.2% in the UK between November 2018 and January 2019. This is the "rolling three-month" release that is not comparable with quarterly growth statistics in National Accounts and is a prov...
Make Yourselves Scarce: The Effect of Demographic Change on the Relative Wages and Employment Rates of Experienced Workers
30 March 2019
by Prof Michael J. Böhm, University of Bonn and Dr Christian Siegel, University of Kent. Discussion paper KDPE 1902, March 2019. Non-technical summary: Many developed economies have experienced a rapid aging of their workforces and are projected to age further. This demographic change has substantial effects on the labor market by changing ...
The missing link: Monetary policy and the labour share
27 March 2019
A research paper by Miguel León-Ledesma (Professor of Economics) together with Dr Cristiano Cantore (Bank of England) and Dr Filippo Ferroni (Federal Reserve Bank of Chicago) has been featured in VoxEU and Bank Underground (the research blog of the Bank of England). ‘How do monetary policy shocks affect the distribution of income between workers and owners of capital? Do workers benefit relatively more when policy change...
Engines of Sectoral Labor Productivity Growth
26 March 2019
by Dr Zsófia L. Bárány, Sciences Po and CEPR and Dr Christian Siegel, University of Kent. Discussion paper KDPE 1901, March 2019. Non-technical summary: The fact that labor productivity growth is different across sectors is well known. Average annual labor productivity growth between 1960 and 2017 in the US, for instance, was 2.49% in the goods sector, much higher than the 1.53% in low-skilled and the 0.72% in high-skilled services....