James Cloyne

Education

• Ph.D., Economics, University College London, 2011
• MSc (Distinction), Economics, University College London, 2005
• B.A. (Honors), Philosophy, Politics and Economics, Keble College, University of Oxford, 2004

About

James Cloyne joined the Department of Economics faculty in November 2016 after 5 years as a senior research economist at the Bank of England in London. Previously he worked as an economic policy adviser at the UK Cabinet Office, a part-time university lecturer and a consultant to a nonpartisan think tank. He is a Research Associate at the NBER and a Research Fellow at the Institute for Institute for Fiscal Studies, the CEPR and the CESifo institute.

Research Focus

Professor Cloyne’s academic research focuses on empirical macroeconomics, monetary and fiscal policy, and economic history.

Publications

• Heterogeneous Agent Macroeconomics: Origins, Progress and Challenges (with Wendy Carlin), in Macroeconomics: Institutions, Instability and Inequality, Carlin, W and Soskice, D, Oxford University Press, January 2024.

• Do Tax Increases Tame Inflation? (with Joseba Martinez, Haroon Mumtaz and Paolo Surico), AEA Papers and Proceedings, May 2023 113: 377-381.

• Monetary Policy, Corporate Finance and Investment  (with Paolo Surico,  Clodo Ferreira and Maren Froemel),  Journal of the European Economic Association Volume 21(6), 2586-2634, December 2023.

• Taxes and Growth: New Narrative Evidence from Interwar Britain (with Natacha Postel-Vinay and Nicholas Dimsdale), Review of Economic Studies, forthcoming, August 2023.

• Estimating the Elasticity of Intertemporal Substitution Using Mortgage Notches (with Michael Best, Ethan Ilzetzki and Henrik Kleven) Review of Economic Studies Volume 87(2), 656–690, March 2020.

• Monetary Policy When Households Have Debt: New Evidence on the Transmission Mechanism with Paolo Surico and Clodo Ferreira.  Review of Economic Studies Volume 87(1) 102-129, January 2020.

• Firms' Price, Cost and Activity Expectations: Evidence from Micro Data (with Lena Boneva, Martin Weale and Tomasz Wieladek). Economic Journal Volume 130, Issue 627, 555–586, April 2020.

• The Effect of House Prices on Household Borrowing: A New Approach (with Kilian Huber, Ethan Ilzetzki and Henrik Kleven). American Economic Review Vol. 109(6), June 2019

• Estimating the Elasticity of Intertemporal Substitution Using Mortgage Notches (with Michael Best, Ethan Ilzetzki and Henrik Kleven) Review of Economic Studies Volume 87(2), 656–690, March 2020

• Monetary Policy When Households Have Debt: New Evidence on the Transmission Mechanism (with Paolo Surico and Clodo Ferreira) Review of Economic Studies Volume 87(1) 102-129, January 2020.

• Brexit: New Evidence and Policy Perspectives Fiscal Studies 39(4): 549-533, December 2018.

• Household Debt and the Dynamic Effects of Income Tax Changes (with Paolo Surico) Review of Economic Studies. Volume 84(1) 45-81, January 2017.

• The Macroeconomic Effects of Monetary Policy: a New Measure for the United Kingdom (with Patrick Huertgen). American Economic Journal: Macroeconomics. 8(4): 75-102, October 2016.

• Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom, American Economic Review, 103(4): 1507-28, June 2013

Teaching

James Cloyne teaches undergraduate and graduate courses in macroeconomics, monetary and fiscal policy and quantitative macroeconomic analysis.

Awards

• Economic Journal Referee Prize, The Royal Economic Society, UK, 2013.
• Distinguished Young Affiliate Prize for the best paper by a young economist, 2011. CESifo Institute Munich, Germany
• Outstanding Teaching Award, University College London UK, 2007, 2008, 2009 and 2011.
• W.M. Gorman Scholarship, University College London UK, 2005.