Professor of Economics
University of Oxford, Nuffield College, NuCamp, CEPR
I am Professor of Economics at the University of Oxford and a Fellow of Nuffield College. I gained my PhD in economics from the European University Institute, and I was previously a Professor at the University of Warwick and Visiting Professor at Keio University, University of British Columbia and Universitat Autònoma de Barcelona. I have been a consultant at Sveriges Riksbank, European Central Bank, Bank of Finland and Bank of England, and I am a Fellow of the Centre for Economic Policy Research (CEPR). In 2019-21, I served on the Finnish Economic Policy Council.
My research interests cover many areas of theoretical and applied macroeconomics, with recent papers concentrating on the management of the UK National Debt, the role that leaving the gold standard played in ending the Great Depression, and the economic value of increases in longevity. My work has been published in American Economic Review, American Economic Journal: Macroeconomics, Journal of Monetary Economics, Journal of the European Economic Association, Economic Journal, Nature Aging, and other academic journals.
The Curious Case of the National Fund, National Institute Economic Review, forthcoming, [PDF]
Neural Network Learning for Nonlinear Macroeconomies (with Julian Ashwin and Paul Beaudry), Journal of Monetary Economics, forthcoming [PDF] [Slides]
The Ends of 27 Big Depressions (with Kevin O'Rourke and Sang Seok Lee), American Economic Review, 2024, [PDF] [Slides]
International Gains to Achieving Healthy Longevity (with Andrew Scott, Julian Ashwin and David Sinclair), Cold Spring Harbor Perspectives on Medicine, 2023
A Rational Inattention Unemployment Trap (with Alistair Macaulay), Journal of Economic Dynamics and Control, 2021
Beauty Contests and the Term Structure (with Andreas Tischbirek), Journal of European Economic Association, 2021
The Economic Value of Targeting Aging (with Andrew Scott and David Sinclair), Nature Aging, 2021
The Economic Impact of Recession Announcements (with Andy Eggers and Sang Seok Lee), Journal of Monetary Economics, 2021
Managing the UK National Debt 1694-2018 (with Andrew Scott), American Economic Journal: Macroeconomics, 2020
Funding the Great War and the Beginning of the End for British Hegemony (with Tom Sargent and Andrew Scott), in Dabla-Norris, E. (ed.), Debt and Entanglements between the Wars, International Monetary Fund, 2019
Welfare cost of business cycles in economies with idiosyncratic consumption risk and a preference for robustness (with Tom Sargent), American Economic Journal: Macroeconomics, 2015
Unconventional government debt purchases as a supplement to conventional monetary policy (with Andreas Tischbirek), Journal of Economic Dynamics and Control, 2014
Unemployment and market size (with Godfrey Keller, Kevin Roberts and Margaret Stevens), Economic Journal, 2014
Learning and price volatility in duopoly models of resource depletion (with Andrew Scott), Journal of Monetary Economics, 2013
Learning by disinflating (with Alina Barnett), Journal of Money, Credit and Banking, 2013
Too many Dragons in the Dragons' Den (with Chryssi Giannitsarou), in Sargent, T.J. and J. Vilmunen (eds.) Macroeconomics at the Service of Public Policy, 2013
A defence of the FOMC (with Tom Sargent), International Economic Review, 2012
Saddlepath learning (with Joe Pearlman), Journal of Economic Theory, 2011
Inflation and output volatility under asymmetric incomplete information (with Giacomo Carboni), Journal of Economic Dynamics and Control, 2011
The Great Inflation and the Greenbook (with Giacomo Carboni), Journal of Monetary Economics, 2009
Caution or activism? Monetary policy strategies in an open economy (with Lucio Sarno and Jouko Vilmunen), Macroeconomic Dynamics, 2007
Escaping volatile inflation (with Tony Yates), Journal of Money, Credit and Banking, 2007
Optimal monetary policy when lump-sum taxes are unavailable: A reconsideration of the outcomes under commitment and discretion (with Neil Rankin), Journal of Economic Dynamics and Control, 2007
The learning cost of interest rate reversals, Journal of Monetary Economics, 2006
Strong contagion with weak spillovers (with Liam Graham and Jouko Vilmunen), Review of Economic Dynamics, 2006
A simple approach to identifying the incentives for policy experimentation (with Jouko Vilmunen), Economics Letters, 2005
Regime-dependent impulse response functions in a Markov-switching vector autoregression model (with Michael Ehrmann and Natacha Valla), Economics Letters, 2003
Learning, uncertainty and central bank activism in an economy with strategic interactions (with Natacha Valla), Journal of Monetary Economics, 2001
Sticky prices and volatile output (with Andrew Scott), Journal of Monetary Economics, 2000
Professor Martin Ellison
Department of Economics, Room 254
University of Oxford
Manor Road Building
Oxford
OX1 3UQ
Nuffield College, Room H15
New Road
Oxford
Oxford
OX1 1NF