Macroeconomics Group

We undertake research in monetary policy, fiscal policy, expectations formation, sovereign bond default, central banking communication and forward guidance, policy credibility, maturity structure, dynamic contracts, financial frictions, closed and open-economy macro.

Our research

We run the Centre for International Macroeconomic Studies.


We publish in world-class journals such as the Quarterly Journal of EconomicsJournal of Political EconomyReview of Economic StudiesAmerican Economic Review: Insights, Journal of Economic TheoryJournal of Monetary EconomicsAmerican Economic Journal: Macroeconomics, Journal of the European Economic AssociationJournal of International Economics, Economic Journal, among many others.

Research outputs

We regularly give talks at central banks and policy institutions.


We attract research funding on a regular basis, with projects funded from the Nuffield Foundation, UK Research Innovation, European Commission Cordis, European Commission H2020, European Commission FP7, ESRC, French National Research Agency, Danish Social Sciences Research Foundation as well as private donors.


We have links with several central banks and policy institutions. On February 2018, one of our members joined the Council of Economic Advisors to the Chancellor of the Exchequer, providing economic advice to the Chancellor, the HMT, and the Government on a range of key economic issues.

We are also act as academic visitors and consultants with several institutions including the Federal Reserve Bank of Boston, the International Monetary Fund, Her Majesty's Treasury, the Bank of England, the Bundesbank, and the Bank of Portugal.

Find an expert

Group coordinator

Research staff

Harris Dellas profile image

Professor Harris Dellas

Professor of Economics

Hyungseok Joo profile image

Dr Hyungseok Joo

Lecturer in Economics

Anastasios Karantounias profile image

Dr Anastasios Karantounias

Associate Professor of Economics

Paul Levine profile image

Professor Paul Levine

Professor of Economics

Alistair Macaulay profile image

Dr Alistair Macaulay

Surrey Future Fellow

Alex Mandilaras profile image

Dr Alexandros Mandilaras

Associate Professor, Deputy Head, Director of Learning

Rigas Oikonomou profile image

Dr Rigas Oikonomou

Reader in Economics

Luciano Rispoli profile image

Dr Luciano Rispoli

Senior Lecturer

Kirill Shakhnov profile image

Dr Kirill Shakhnov

Senior Lecturer in Economics

Hitoshi Tsujiyama profile image

Dr Hitoshi Tsujiyama

Senior Lecturer

Alessio Volpicella profile image

Dr Alessio Volpicella

Senior Lecturer in Economics

Aliaksandr Zaretski profile image

Dr Aliaksandr Zaretski

Lecturer in Economics

Postgraduate research students

Rodolfo Arioli

Postgraduate Research Student

Davide Vincenzo Bucci profile image

Davide Bucci

Postgraduate Research Student

Maria Burmistrova

Postgraduate Research Student

Vedanta Dhamija

Postgraduate Research Student

Roshni Tara

Postgraduate Research Student