Academic Profiles

Research Interests

Professor Levine's general research area is in open economy macroeconomics with a particular focus on policy rules, international policy coordination and the credibility problem. Other research interests include the economics of immigration, defence economics and the economics of radio spectrum. He has numerous publications in leading economics journals including the Economic Journal, Economic Letters, the Journal of Economic Theory , the European Economic Review , the Journal of Economic Dynamics and Control , the Journal of Monetary Economics and Oxford Economic Papers. He is co-author with Professor David Currie of a book, Rules Reputation and Macroeconomic Policy Co-ordination (CUP). Other activities include: consultancy for Ofcom, visiting researcher at the IMF and the ECB, and visiting Professor at Autỏnoma University, Barcelona.

Keynote Lectures

"The Credibility Problem Revisited: Thirty Years on from Kydland and Prescott", 2006, (with J. Pearlman and B. Yang). 

Keynote Lecture given at the European Economics and Finance Society 2006 Conference in Heraklion, Crete, June 2006

Contact Me

Phone: 01483 68 9928

Find me on campus
Room: 15 AD 00

My office hours

Wednesday 2:00pm - 4:00pm

RePEc web page: download papers



  1. Mark Harris & Paul Levine & Christopher Spencer, 2011. "A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members," Public Choice, Springer, vol. 146(3), pages 413-442, March.
  2. Ali Choudhary & Paul Levine, 2010.Risk averse firms and unemployment dynamics”,Oxford Economic Papers, 62(3), 578-602,
  3. Levine, Paul & Pearlman, Joseph, 2010. "Robust monetary rules under unstructured model uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 34(3), pages 456-471, March.
  4. Gabriel, Vasco J. & Levine, Paul & Spencer, Christopher, 2009. "How forward-looking is the Fed? Direct estimates from a [`]Calvo-type' rule," Economics Letters, Elsevier, vol. 104(2), pages 92-95, August.
  5. García-Alonso, María D.C. & Levine, Paul, 2008. "Strategic procurement, openness and market structure," International Journal of Industrial Organization, Elsevier, vol. 26(5), pages 1180-1190, September.
  6. Levine, Paul & McAdam, Peter & Pearlman, Joseph, 2008. "Quantifying and sustaining welfare gains from monetary commitment," Journal of Monetary Economics, Elsevier, vol. 55(7), pages 1253-1276, October.
  7. Evans, Joanne & Levine, Paul & Trillas, Francesc, 2008. "Lobbies, delegation and the under-investment problem in regulation," International Journal of Industrial Organization, Elsevier, vol. 26(1), pages 17-40, January.
  8. Levine, Paul & Pearlman, Joseph & Pierse, Richard, 2008. "Linear-quadratic approximation, external habit and targeting rules," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3315-3349, October.
  9. Paul Levine & Joseph Pearlman & Bo Yang, 2008. "The Credibility Problem Revisited: Thirty Years on from Kydland and Prescott *," Review of International Economics, Blackwell Publishing, vol. 16(4), pages 728-746, 09.



  1. Gabriel, V., Levine, P., Pearlman, J. and B. Yang. An Estimated DSGE Model of the Indian Economy. Forthcoming, Handbook of the Indian Economy, ed., C. Ghate.
  2. Ali Choudhary & Paul Levine & Peter McAdam & Peter Welz.  "Happiness Inertia: Analytical Aspects of the Easterlin Paradox,"  Forthcoming,  Oxford Economic Papers.


Selected Working Papers

  1. Paul Levine & Joseph Pearlman & George Perendia & Bo Yang, 2010. "Endogenous Persistence in an Estimated DSGE Model under Imperfect Information," Department of Economics Discussion Papers 0310, Department of Economics, University of Surrey.
  2.  Nicoletta Batini & Paul Levine & Young-Bae Kim & Emanuela Lotti, 2010. "Informal Labour and Credit Markets: A Survey," IMF Working Papers 10/42, International Monetary Fund.
  3. Nicoletta Batini & Paul Levine & Joseph Pearlman, 2009. "Monetary and Fiscal Rules in an Emerging Small Open Economy," IMF Working Papers 09/22, International Monetary Fund.]
  4. Paul Levine & Peter McAdam & Joseph Pearlman & Richard Pierse, 2008. "Risk Management in Action. Robust monetary policy rules under structured uncertainty," Working Paper Series 870, European Central Bank. 

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