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oxrepjournal.bsky.social
Oxford Econ Policy
@oxrepjournal.bsky.social
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Peer-reviewed journal bridging the gap between academic economics and policy debates since 1985. RTs aren't endorsements.
http://academic.oup.com/oxrep/issue
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oxrepjournal.bsky.social
Oxford Econ Policy @oxrepjournal.bsky.social · Dec 26
The OxREP's newest issue on “Rebuilding Macroeconomic Theory III: The Macroeconomics of Structural Change” has been published! Read all articles online here: academic.oup.com/oxrep/issue/...
Issues | Oxford Review of Economic Policy | Oxford Academic
Publishes original contributions in economic policy, with a balance between macro- and microeconomics. Provides a valuable appraisal of economic policies worldwide with each issue focused on a topic o...
academic.oup.com
oxrepjournal.bsky.social
How can macroeconomic models support policy during the net-zero transition? The final article in the latest OxREP outlines the structural changes necessary to mitigate climate change and identifies five criteria any model in the field should meet.
doi.org/10.1093/oxre...
doi.org
February 4, 2026 at 4:28 PM
oxrepjournal.bsky.social
Structural economic change as dynamic resource creation – in their OxREP paper, Dimitri Zenghelis, Hector Pollitt, Jean-François Mercure, and Frank W. Geels illustrate how innovation, networks and behaviour are adopted in the global economy.
doi.org/10.1093/oxre...
Understanding and modelling structural economic change as a dynamic resource creation process—an application to low-carbon transitions
Abstract. The global economy is constantly undergoing large-scale structural change. Policy-makers face the task of deciding how technological change is di
doi.org
February 3, 2026 at 11:00 AM
oxrepjournal.bsky.social
In this issue of the OxREP, J. Doyne Farmer presents agent-based models (ABMs) as an alternative to mainstream macro analysis. Incorporating heuristic decision-making, myopic reasoning and/or learning algorithms, ABMs produce higher levels of realism.
doi.org/10.1093/oxre...
Quantitative agent-based models: a promising alternative for macroeconomics
Abstract. Agent-based models (ABMs) are dynamic computer simulations that abandon utility maximization and instead assume that agents are boundedly rationa
doi.org
January 30, 2026 at 11:12 AM
oxrepjournal.bsky.social
Supply-side forces drive structural change. Weifeng Larry Liu, Warwick McKibbin, Geoffrey Shuetrim, and Peter Wilcoxen show in the latest OxREP how asymmetric productivity growth may impact economic growth, trade, and relations in the world economy.
doi.org/10.1093/oxre...
Modelling structural change in global macroeconomic models
Abstract. The global economy has experienced significant structural change over the past several decades and is expected to continue evolving in the future
doi.org
January 29, 2026 at 10:57 AM
oxrepjournal.bsky.social
Introducing the Global Gaidar Model, Seth G. Benzell, @Kotlikoff, Maria Kazakova, Guillermo Lagarda, Kristina Nesterova, Victor Yifan Ye, and Andrey Zubarev explore future trajectories of convergence, global savings gluts, taxes and interest rates.
doi.org/10.1093/oxre...
The future of global economic power
Abstract. The global economy’s enormous region-specific demographic, technological, and fiscal changes raise five major questions. First, which regions wil
doi.org
January 28, 2026 at 4:52 PM
oxrepjournal.bsky.social
Did the 2021/22 inflation surge result from loose monetary and fiscal policy during the pandemic? Using a New Keynesian model, Andrew Hodge, Zoltan Jakab, Jesper Lindé, and Vina Nguyen show that the answer partly depends on the Phillips Curve’s slope.
doi.org/10.1093/oxre...
Did expansionary fiscal and monetary policies cause the inflation surge?
Abstract. This paper employs a two-country New Keynesian DSGE model to assess how much of the 2021–2 inflation surge in the US and the euro area is explain
doi.org
January 27, 2026 at 10:10 AM
oxrepjournal.bsky.social
In their OxREP response to Ben Bernanke's analysis of the BoE, Douglas Laxton, Haykaz Igityan, and Shalva Mkhatrishvili call for a rethinking of monetary policy. They emphasise the interplay between credibility, risk management, and macroeconomic stability.
doi.org/10.1093/oxre...
Monetary policy credibility, avoiding dark corners, and risk management: a response to Ben Bernanke's review of monetary policy-making at the Bank of England
Abstract. Ben Bernanke's Forecasting for Monetary Policy Making and Communication at the Bank of England: A Review (Bernanke, 2024) provides a stimulus for
doi.org
January 26, 2026 at 11:53 AM
oxrepjournal.bsky.social
Agents’ beliefs can change abruptly. Timo Henckel, Gordon Menzies, and Daniel J. Zizzo propose in the OxREP that such shifts in beliefs cause structural changes. While agents initially firmly defend beliefs, they might suddenly revise them. doi.org/10.1093/oxre...
The straw that breaks the camel's back: inferential expectations and sudden belief changes
Abstract. We propose a theory of abrupt shifts in beliefs—termed inferential expectations (IE)—to explain significant structural changes observed in econom
doi.org
January 25, 2026 at 10:13 PM
oxrepjournal.bsky.social
Andrew Blake, Richard Dennis, Tatiana Kirsanova, and @t0nyyates.bsky.social demonstrate how multiple equilibria arise under discretionary monetary policy in a standard New Keynesian model with capital accumulation. Coordination on Pareto efficient optima is unlikely.
doi.org/10.1093/oxre...
Multiple equilibria in the absence of commitment
Abstract. This paper shows how multiple equilibria can arise under discretionary monetary policy in a standard New Keynesian model with capital accumulatio
doi.org
January 23, 2026 at 12:22 AM
oxrepjournal.bsky.social
Ross Garnaut notes in the OxREP that climate change mitigation seems like an unlikely aim. The difficulty of making progress towards goals is due to international trade in energy-intensive goods currently not being a feature of the zero-carbon economy.
doi.org/10.1093/oxre...
The Blair Black Hole in global climate policy
Abstract. Slow progress in reducing greenhouse gas emissions has led to comments that achievement of global climate change mitigation goals is unlikely, be
doi.org
January 21, 2026 at 12:29 PM
oxrepjournal.bsky.social
When should climate policies be implemented? Noting that propagation and amplification mechanisms increase effectiveness, Frederick van der Ploeg and Anthony J. Venables argue that temporary radical measures are necessary to reach key ‘tipping points’.
doi.org/10.1093/oxre...
Green transitions: complementarities, multiple equilibria, and tipping points
Abstract. With strategic complementarities stemming from peer effects in demand or technological spillovers, propagation and amplification mechanisms incre
doi.org
January 18, 2026 at 1:12 PM
oxrepjournal.bsky.social
In the latest OxREP, Peter Warr and Arief Anshory Yusuf analyse the causes of structural change in a general equilibrium model of Thailand’s economy. They find that differential productivity growth rates between sectors have been the driver of change in the country.
doi.org/10.1093/oxre...
What causes structural change?
Abstract. Structural change refers to long-term, systematic changes in the sectoral composition of aggregate economic output. Ordinarily, it means the cont
doi.org
January 16, 2026 at 5:37 PM
oxrepjournal.bsky.social
Henry George argued that the most efficient tax is a tax on land. Going beyond his analysis, Tomohiro Hirano and @josephestiglitz.bsky.social suggest that financial liberalisation and loose monetary policy can stimulate land speculation instead of productive investment.
doi.org/10.1093/oxre...
Henry George, land speculation, and economic growth and transformation
Abstract. There has long been a concern that speculation on land (or other non-produced assets) may adversely affect economic performance by diverting scar
doi.org
January 14, 2026 at 11:09 AM
oxrepjournal.bsky.social
Economists have applied the idea of ‘directed technological change’ to a range of pressing issues, from climate change to AI. Daniel Susskind provides an intellectual history of the concept, and reflects on its theory, relevance and limitations.
academic.oup.com/oxrep/articl...
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January 10, 2026 at 12:09 AM
oxrepjournal.bsky.social
The economic literature on structural change and development is constantly evolving. In their OxREP contribution, Douglas Gollin and Richard Rogerson advocate incorporating structural change into growth models to more fully understand adjustment processes.
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January 8, 2026 at 9:47 AM
oxrepjournal.bsky.social
In the OxREP, Tomohiro Hirano and @josephestiglitz.bsky.social show that multiple steady states and momentary equilibria, and bounded yet non-periodic complex dynamics can be observed even in the simplest overlapping-generations models with capital accumulation. academic.oup.com/oxrep/articl...
Overlapping generations models, multiplicity of steady states and momentary equilibria, and economic fluctuations
Abstract. This paper examines the simplest OLG models with capital accumulation, demonstrating three results that stand in marked contrast to those of the
academic.oup.com
January 5, 2026 at 3:26 PM
oxrepjournal.bsky.social
In his introduction to this OxREP issue, David Vines develops a taxonomy of reasons for structural change in macroeconomic models: tipping points, asymmetries in the growth process, large external shocks, and actual chaos. academic.oup.com/oxrep/articl...
The rebuilding macroeconomic theory project part III: macroeconomic models of structural change
Abstract. In this article I first set out a taxonomy of reasons for structural change within a macroeconomic model. There may be tipping points, either wit
academic.oup.com
December 27, 2025 at 6:53 PM
oxrepjournal.bsky.social
The OxREP's newest issue on “Rebuilding Macroeconomic Theory III: The Macroeconomics of Structural Change” has been published! Read all articles online here: academic.oup.com/oxrep/issue/...
Issues | Oxford Review of Economic Policy | Oxford Academic
Publishes original contributions in economic policy, with a balance between macro- and microeconomics. Provides a valuable appraisal of economic policies worldwide with each issue focused on a topic o...
academic.oup.com
December 26, 2025 at 8:51 PM
oxrepjournal.bsky.social
Eleanor Carter and Michael Gibson explore the evolving roles of the state, issues arising from outsourced delivery, emerging collaborative models, and the increasing role of citizens in welfare provision. #Welfare #PublicPolicy
academic.oup.com/oxrep/articl...
Delivering the UK welfare state
Abstract. A range of welfare services are delivered to citizens on behalf of the state, both directly by public servants, and by private actors from the fo
academic.oup.com
June 26, 2025 at 10:07 AM
oxrepjournal.bsky.social
Rising health spending threatens fiscal sustainability in England. Anita Charlesworth and Ann Raymond suggest that long-term funding must rely on higher taxes or private spending due to limited scope for public service cuts. #NHS #FiscalPolicy
academic.oup.com/oxrep/articl...
Affording the NHS: estimating demand pressures and the options for addressing the challenge of fiscal sustainability
Abstract. Rising health spending is increasingly becoming a key concern for policy-makers across many high-income countries due to ageing populations and i
academic.oup.com
June 25, 2025 at 11:37 PM
oxrepjournal.bsky.social
The UK must significantly expand health and social care supply to meet rising demand. @maxwarner.bsky.social and @benzaranko.bsky.social explore how to boost inputs and productivity amid policy and fiscal constraints. #HealthPolicy #SocialCare
academic.oup.com/oxrep/articl...
Future challenges for health and social care provision in the UK
Abstract. The supply of health and social (long-term) care services in the UK will need to substantially increase in coming decades to meet growing demand
academic.oup.com
June 24, 2025 at 9:27 PM
oxrepjournal.bsky.social
Council housing, once common and broadly accessible, now serves mainly low-income households and sees minimal new builds. Peter A. Kemp finds that social housing covers only 1 in 6 households today. #HousingPolicy #uk
academic.oup.com/oxrep/articl...
Reserved for the poor? Social housing in a liberal market economy
Abstract. Since 1980, social housing has undergone a fundamental transformation in England. In the 1970s, three out of ten households, the majority of whom
academic.oup.com
June 23, 2025 at 3:12 PM
oxrepjournal.bsky.social
UK pensions face challenges from an ageing population. Jonathan Cribb, Carl Emmerson and Heidi Karjalainen argue that this implies raising pension age—hitting poorer groups hardest—or limiting ‘triple lock’ indexation, impacting higher earners more. #Pensions
academic.oup.com/oxrep/articl...
The future of public pension provision in the UK: challenges and trade-offs
Abstract. The UK state pension system faces significant challenges given the country’s ageing population, but at the same time it is crucial for retirement
academic.oup.com
June 22, 2025 at 2:07 PM
oxrepjournal.bsky.social
In 2023, the UK tax-benefit system reduced income inequality by 27.6%, trailing France. Victoria Prowse shows that fiscal drag disproportionately affects low earners, while advocating for higher Universal Credit to limit inequality. #TaxPolicy #Inequality
academic.oup.com/oxrep/articl...
Programme interactions and fiscal drag in the UK tax-and-benefit system: effects on income inequality
Abstract. This paper provides a comprehensive quantitative analysis of the UK tax-and-benefit system in 2023, focusing on its impact on income inequality.
academic.oup.com
June 18, 2025 at 2:58 PM
oxrepjournal.bsky.social
David Coady traces 40 years of UK fiscal redistribution. Labour’s 1997–2010 expansion boosted budget effort but cut progressivity; post-2010 austerity reversed this. Notably, redistribution to the poorest declined throughout. #Welfare #UKPolicy
academic.oup.com/oxrep/issue/...
Fiscal redistribution cycles: four decades of social assistance in the UK
Abstract. This paper describes the evolution of fiscal redistribution (FR) in the UK through social assistance transfers over the last four decades and the
academic.oup.com
June 17, 2025 at 9:59 AM