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.
School of Economics Academic Promotions 2017
1 October 2017
The School of Economics has the pleasure to announce that Dr Christian Siegel has received a promotion over the summer period of this year. Congratulations to Christian on becoming a Senior Lecturer in Macroeconomics. His new role is effective from Sunday 1 October and we would like to wish him all the very best.
Allocative efficiency of UK firms during the Great Recession
11 September 2017
by Florian Gerth, discussion paper KDPE 1714, September 2017. Non-technical summary: Research shows that financial crises are accompanied by severe and long-lasting drops in TFP. The most recent Global Financial Crisis does not seem to be any different from this pattern. On the contrary, Gerth and Otsu (2017) find significant correlations between financial variables and long-lasting drops in aggregate productivity measures ...
Firm Dynamics, Dynamic Reallocation, Variable Markups and Productivity Behaviour
6 September 2017
by Anthony Savagar, discussion paper KDPE 1713, August 2017. Non-technical summary: Traditionally macroeconomists assume that the number of firms in an economy adjusts instantaneously to arbitrage profits. This assumption ignores ‘slow’ fluctuations in firm entry and exit over the business cycle. This paper develops a model of firm dynamics in the macroeconomy with sunk costs that cause firms to respond slowly t...
Automation will not lead to fewer jobs...
21 August 2017
Research by Christian Siegel from the School of Economics featured in an article in The Guardian on Sunday 20 August on the rise of robots and automation: ‘Robots will not lead to fewer jobs – but the hollowing out of the middle class’ by Larry Elliott. Read the full article here.
An empirical validation protocol for large-scale agent-based models
17 July 2017
by Sylvain Barde and Sander van der Hoog, discussion paper KDPE 1712, July 2017. Non-technical summary Despite recent advances in bringing agent-based models (ABMs) to the data, the estimation or calibration of model parameters remains a challenge, especially when it comes to large-scale agent-based macroeconomic models. Most methods, such as the method of simulated moments (MSM), require in-the-loop simulation of new ...