Professor Peter McAdam

Biography

Other affiliation

European Central Bank
Email: peter.mcadam@ecb.int

Peter McAdam received a first-class BA and a PhD in Economics from the University of Strathclyde. He subsequently held positions as a Research Fellow at Strathclyde, Economist at the European Commission and lecturer at the University of Kent. Currently he is a senior economist at the Research Department of the European Central Bank and honorary professor at the University of Kent. He is also on the editorial board of the Scottish Journal of Political Economy and is currently on secondment at MIT.

Research Interests

Professor McAdam’s research interests are very wide but essentially lie in applied macro. Recent topics have included production function modeling, biased technical change, Bayesian estimation, DSGE modeling, Calvo-contracting, monetary policy rules. He has published papers in journals such as the Review of Economics and Statistics, the Journal of Economic Dynamics and Control, Journal of Macroeconomics, Oxford Bulletin of Economics and Statistics, Oxford Review of Economic Policy, Journal of Economics Surveys. He also edited a book on computational macroeconomic modeling with A. J. Hughes-Hallett, Analyses in Macroeconomic Modeling (Kluwer)

Publications

• Leon-Ledesma, M., P. McAdam and A. Willman “Identifying the aggregate elasticity of substitution with biased technical change”, American Economic Review (forthcoming).
• Mestre, R. and P. McAdam “Is forecasting with large models informative? An Application using the Area Wide Model”, Journal of Forecasting (forthcoming)
• McAdam, P. and A. Willman “Arrow-Calvo Price Staggering” Manchester School (forthcoming)
• Levine, P., P. McAdam and J. Pearlman (2008) “Quantifying and Sustaining Welfare Gains from Monetary Commitment”, Journal of Monetary Economics, 32, 8, 2543-2583.
• Klump, R., P. McAdam and A. Willman (2008) “Unwrapping Some Euro Area Growth Puzzles: Factor Substitution, Productivity and Unemployment”, Journal of Macroeconomics, 30, 2, 645-666.
• Coenen, G. P. McAdam and R. Straub (2008) “Tax Reform and Labour-Market Performance: A Simulation-Based Analysis Using the New Area-Wide Model”, Journal of Economic Dynamics and Control, 32, 8, 2543-2583.
• McAdam, P. and R. Mestre (2008) “Evaluating Macro-Economic Models in the Frequency Domain”, Economic Modeling, 25, 1137-1143.

View more publications since 2007

Current Working Papers

• ECB Working Paper No. 1175
  In dubio pro CES - Supply estimation with mis-specified technical change, by Miguel A. León-Ledesma, Peter McAdam and Alpo Willman, April 2010
• ECB Working Paper No. 1001
  Identifying the elasticity of substitution with biased technical change, by Miguel A. León-Ledesma, Peter McAdam and Alpo Willman, January 2009
  Published in: American Economic Review (forthcoming)
• ECB Working Paper No. 950
  Is forecasting with large models informative? Assessing the role of judgement in macroeconomic forecasts, by Ricardo Mestre and Peter McAdam, October 2008
  Published in: Journal of Forecasting (forthcoming)
• ECB Working Paper No. 915
  Medium run redux: technical change, factor shares and frictions in the euro area, by Peter McAdam and Alpo Willman, June 2008
• ECB Working Paper No. 870
  Risk Management in Action. Robust monetary policy rules under structured uncertainty., by Paul Levine, Peter McAdam, Joseph G. Pearlman and Richard Pierse, February 2008