Andrew Hughes-Hallett
Andrew Hughes-Hallett
Room: S1
University of St Andrews,
School of Economics and Finance,
St. Andrews, Fife, KY16 9AR,
Scotland, U.K.
Office Hours Friday11-1pm in Semester 2; otherwise by email any time
Tel: 2425
Email: ahh1@st-andrews.ac.uk


Andrew Hughes-Hallett studied at the University of Warwick, London School of Economics and Nuffield College Oxford. He has held academic posts at Bristol, Erasmus, Newcastle, Strathclyde, Princeton and Vanderbilt before coming to St.Andrews. He is a Fellow of the Royal Society of Edinburgh, was a Fulbright Scholar (1992-4), a member of the Council of Economic Advisors (2007-2015), and is now a Commissioner of the Scottish Fiscal Commission (2014- ) and advisor for economic and monetary affairs to the European Parliament (2015- ).

Research Interests

Open Economy Macroeconomics, Fiscal and Monetary Policies, Federalism, Policy Coordination; European Integration.


Selected Publications

208 refereed papers of which top ten papers (by AEA/AMS citations) are:

  • "The Impact of Exchange Rate Variability on Investment", Economic Journal, 1999, Vol. 109, pp. c55-67.
  • "East Germany, West Germany and their Mezzogiorno Problem", Economic Journal, 1993, 103, 416-28..
  • "Adjustment Mechanisms in a Monetary Union between Asymmetric and Incompletely Converged Economies", European Economic Review, 1994, 38, 1731-1761.
  • "International Policy Coordination when Policy Markets do not Agree on the True Model", American Economic Review, 1992, Vol. 82, pp. 1043-51.
  • "Target Zones and International Policy Coordination: the Contrast between the Necessary and Sufficient Conditions for Success", European Economic Review 1992, Vol. 36, pp. 893-914.
  • "The Transmission of the Great Depression between the United States, Britain, France and Germany", European Economic Review, 1992, Vol. 36, 685-694.
  • "Economic Conflict and the Solution of Dynamic Games", European Economic Review, 1984, Vol. 26, pp. 13-32.
  • "The Determination of Implicit Preferences: Two Possible Approaches Compared", European Economic Review, 1982, Vol. 18, pp. 267-289.
  • "The Convergence of Accelerated Overrelaxation Iterations", Mathematics of Computation, 1986, Vol. 47, pp. 219-223.
  • "Techniques which Accelerate First Order Iterations Automatically, Linear Algebra and Applications", 1985, Vol. 68, pp. 115-130.

Selected Papers in 2013-15:

“Stabilization and Expanded Commitment: The Value of Forward Guidance in Economies with Rational Expectations”, Macroeconomic Dynamics, to appear 2015

 “The Cyclicality of Automatic and Discretionary Fiscal Policy: What Can Real Time Data Tell Us?”, Macroeconomic Dynamics,19(1), 221-43, 2015.

 “Announcements as an equilibrium selection device”, Oxford Economic Papers, 66 (1), 325-347, 2014.

 “Fiscal sustainability using growth-maximising debt targets” Applied Economics, 46 (6), 638-647, 2013.

 “External imbalances and fiscal fragility in the euro area”, Open Economies Review,25, 3-34, 2014.

 “Growth Maximising Public Debt under Changing Demographics” in Macroeconomic Dynamics, 2015.

 “Great Moderation or "Will o' the Wisp"? A Time-Frequency Decomposition of GDP for the US and UK”, Journal of Macroeconomics, 44, 82-97, 2015.

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