Paul Levine

More Information

• Research interests
• Selected Recent Publications
• Keynote Lecture
• Select Recent Working Papers
• Teaching materials

Paul Levine received a first-class BSc and a PhD, both in Mathematics, from the University of Manchester. He then taught and researched in the area of applied mathematics at Liverpool Polytechnic and the Polytechnic of North London before joining South Bank Polytechnic in 1972. His move into economics began at South Bank as the result of collaborative research with Sam Aaronovitch into merger activity and a year studying for an MSc in economics (distinction) at Queen Mary College followed in 1977. In 1984 he became a senior research officer at the Centre for Economic Forecasting, London Business School and was appointed Professor of Economics at the University of Leicester in 1989. In 1994 he moved to the University of Surrey.

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.

Selected Recent Publications

• "Does Precommitment Raise Growth? Dynamic Aspects of Growth and Fiscal Policy", 2001, Scandinavian Journal of Economics , 103, 295-316 (with T. Krichel).
• "Winners and Losers in a North-South Model of Growth, Innovation and Product Cycles", 2001, Journal of Development Economics, 333-365 (with M. Chui and J. Pearlman).
• "Utility Price Regulation and Time Inconsistency: Comparisons with Monetary Policy", 2005, Oxford Economic Papers , 57(3), 447-478 (with J. Stern and F.Trillas).
• "Idle Worship", 2005, Economic Letters, 90(1), 77-83 (with A.Choudhary).
• "Robust-Inflation-Forecast rules to Shield against Indeterminacy", 2006, Journal of Economic Dynamics and Control , 30, 1491-1526 (with N. Batini , A. Justiniano, and J. Pearlman).
• "Managing Asymmetric Conflict", 2006, Oxford Economic Papers , 58(2), 183-208 (with P. Dunne, M. Garcia Alonso and R. Smith).
• "Optimal Sliding Scale Regulation: An Application to the Regional Electricity Companies in England and Wales", 2007, Oxford Economic Papers, 59 (3), 458-485 (with D. Hawdon, L. Hunt and N. Rickman ).
• "Arms Trade and Arms Races: A Strategic Analysis", 2007, in Handbook of Defence Economics, Hartley and Sandler (ed), Elsevier (with M. Garcia-Alonso).
• "The Immigration Surplus Revisited in a General Equilibrium Model with Endogenous Growth", 2007, Journal of Regional Studies, 47 (3), pp569-601 (with S. Drinkwater and E. Lotti ).
• "Monetary Rules in Emerging Economies with Financial Market Imperfections ", 2007, Presented to the NBER Conference on International Dimensions of Monetary Policy, S'Agaro, Catalonia, Spain, June 11-13, 2007 and forthcoming in NBER Conference Volume, International Dimensions of Monetary Policy, ed. J. Gali and M. Gertler (with N. Batini and J. Pearlman).
• "Forward-Looking Inflation Targeting Rules: a Puzzle and a Resolution" , 2007, International Journal of Central Banking, 3(4), pp77-110 and ECB Working Paper No. 643, 2007  (with P. McAdam and J. Pearlman ).
• "Lobbies, Delegation and the Underinvestment Problem in Regulation", 2008, International Journal of Industrial Organization , 26(1), pp 17-40 (with J. Evans and F. Trillas).
• "The Credibility Problem Revisited: Thirty Years on from Kydland and Prescott", 2008, Review of International Economics , forthcoming (with J. Pearlman and B. Yang).
• "Strategic Procurement, Openness and Market Structure", 2008, International Journal of Industrial Economics , forthcoming (with M.Garcia-Alonso).
• "Linear-Quadratic Approximation, External Habit and Targeting Rules ", 2008, Journal of Economic Dynamics and Control , forthcoming and ECB Working Paper No. 759, 2007. (with J. Pearlman and R. Pierse).
• "Quantifying and Sustaining Welfare Gains from Monetary Commitment", 2008, Journal of Monetary Economics, forthcoming and ECB Working Paper No. 709, 2007 (with P. McAdam and J. Pearlman).

Keynote Lecture

"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

Selected Recent Working Papers

• "Indeterminacy with Inflation-Forecast-Based Rules in the Large Open Economy", 2005, ECB Working Paper no. 340 and FRB Discussion paper no. 794. (with N. Batini , and J. Pearlman). Presented at the International Research Forum on Monetary Policy in Washington, DC, November, 2003.
• "Risk Management in Action. Robust monetary policy rules under structured uncertainty ", 2008, ECB Working Paper No. 870 ( with P. McAdam, J. Pearlman and R. Pierse).