Charles Nolan Professor of Economics and Director of CDMA Room F6 Office Hours   Telephone +44(0)1334 462425 Fax +44(0)1334 462444 Email Charles.Nolan@st-andrews.ac.uk Personal Web Page
About	Charles Nolan was educated at the University of Strathclyde and Birkbeck College, University of London. He worked for eight years as an economist at the Bank of England. He taught at the University of Reading, UK and was Reader in Economics at the University of Durham, UK. He is a member of the European Monetary Forum. His research interests are quantitative general equilibrium macroeconomics and monetary theory, international finance and business cycle analysis.
Teaching	EC1001: Macroeconomics EC4522: International Trade and Globalisation
Research Interests	Macroeconomics, Quantitative General Equilibrium, Macro/Monetary Theory, Monetary-Fiscal Interactions, International Finance, UK Business Cycles.
Selected Publications	Mechanisms for Achieving Monetary Stability: Inflation Targeting versus the ERM, (1997), Journal of Money, Credit and Banking, February, 29(1) Money, Debt and Prices in the UK: 1705-1996 (2002) with Norbert Janssen (Bank of England) and Ryland Thomas (Bank of England). Economica, vol. 69, no. 275, pp. 461-479(19). A Long View of the UK Business Cycle, (2002), with Jagjit Chadha. National Institute Economic Review No. 182 October, pages 72-89. Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium, edited by Sumru Altug (University of York), Jagjit Chadha (University of St Andrews) and Charles Nolan (University of Durham), 2003, Cambridge University Press. Interest Rate Bounds and Fiscal Policy (2004), with Jagjit Chadha, Economics Letters, 84(1), pp. 9-15. The Impact of Imperfect Credibility in a Transition to Price Stability (2006), with Anamaria Nicolae, The Journal of Money, Credit, and Banking, 38(1), pp. 47-66. Aggregation and Optimization with State-Dependent Pricing: A Comment (2006), with Vladislav Damjanovic, Econometrica, 74(2), pp. 565-73. Damjanovic, T., Damjanovic, V. and Nolan, C. (2008), 'Unconditionally Optimal Monetary Policy', Journal of Monetary Economics, 55(3), pp. 491-500. Nolan, C. and Thoenissen, C. (2009), 'Financial shocks and the US business cycle', Journal of Monetary Economics, 56(4), pp. 596-604. Damjanovic, T. and Nolan, C. (2009), 'Relative Price Distortions and Inflation Persistance', forthcoming in Economic Journal. Damjanovic, T. and Nolan, C. (2009), 'Seigniorage-maximizing inflation under sticky prices', forthcoming in Journal of Money, Credit and Banking.