Welcome to the Personal Website for Paul Mizen
I am Professor of Monetary Economics and Director of the Centre for Finance, Credit and Macroeconomics, University of Nottingham and Chairman and Trustee of the Money Macroeconomic and Finance Society. I have taught in the Economics Departments of the University of Nottingham, the University of Vienna, the European University Institute, Florence and Princeton University.
My research focuses on the interaction between monetary policy, investment, real activity, resilience to shocks, and productivity. I have pioneered a number of surveys that underpin much of this research. and have fostered research collaborations with Chicago Booth, Imperial, Kings, LSE, MIT, Northwestern, Stanford; Bank of England, Bank for International Settlements, Banque de France. Deutsche Bundesbank, European Central Bank, Federal Reserve and the International Monetary Fund.
I have contributed evidence to support economic policy to the Bank of England, COBRA, the Cabinet Office, 10 Downing St and Government Departments such as HM Treasury, BEIS, Home Office and DfT; this led to an Impact Case Study graded 4 in REF2021. I have published 7 books and more than 120 articles on various aspects of economics (listed in Researchgate, Repec IDEAS and Google Scholar Cites). I am also on Linkedin.
A steady flow of grants from blue chip funders (ESRC, UKRI, Research England) significantly exceeds the discipline norm. Since 2016 I have raised £5.5m in research funding, and have been a PI on a portfolio of twelve research grants. The major grants are:
Decision Maker Panel. A major research project with the Bank of England and Nick Bloom of Stanford University on economic uncertainty and effects of major shocks drawing on monthly online surveys of over 9400 CEO and CFOs. The website www.decisionmakerpanel.co.uk has had 16,541 users and 36,839 page views since July 2019. It was announced by The Economic and Social Research Council as a Prize Finalist for its Celebrating Impact Prize 2021 ESRC announcement. ESRC sponsored the production of a short introductory film. See here for more information and ESRC brochure.
Management and Expectations Survey. A large scale project in collaboration with the Office for National Statistics, Nick Bloom (Stanford), John van Reenen (LSE, MIT), Rebecca Riley (Kings) and ESCoE drawing on triennial surveys of around 30,000 firms regarding management practices.https://www.ons.gov.uk/surveys/informationforbusinesses/businesssurveys/managementandexpectations
Working from Home Survey in collaboration with Jose Barrrero (ITAM). Nick Bloom (Stanford) and Steve Davis (Chicago Booth). This online monthly survey of 2,500 working age adults per month explores working from home impacts on productivity, commuting and business organisation. https://wfhresearch.com/
In connection with my work on DMP and MES I was appointed as a Fellow of the Office for National Statistics from September 2018, Fellow of the Royal Society of Arts from January 2019, and Fellow of the Academy of Social Sciences from March 2019. In 2021 I joined the ESRC funded Productivity Institute.
I have several roles with the Office for National Statistics.
I am a member of The Economic Experts Working Group at the ONS, which draws on the expertise of the ONS Fellows in all areas of economic statistics: these include responses to Covid-19 such as development of faster indicators, the Business Impact and Conditions Survey and new data sources summarised by National Statistician Sir Ian Diamond in a 2021 Nottingham public lecture.
I am a member of the National Statistician’s Committee for Advice on Standards for Economic Statistics (NSCASE) which is part of the new governance framework for the Office for National Statistics, reporting to Sir Ian Diamond (National Statistician) and chaired by Martin Weale.
I am currently a member of the Productivity Institute, I am a member of the Research Partnership Board of the Midlands Engine, and from 2020-2022 i was a member of the Analytics Group of the D2N2 Local Enterprise Partnership, feeding knowledge of Covid impacts and response to the D2N2 Board and city and county councils. The Data Driven Discovery Institute (3Di) and the Track the Economy Dashboard are initiatives that I have been involved with as a Scientific Advisory Board Member.
Previously I was a consultant and visiting scholar to the Federal Reserve, the Bank of England, the Bundesbank, the European Central Bank, the Bank for International Settlements, the International Monetary Fund and a number of other central banks and universities. I was invited to take up the first “OeNB Anniversary Visiting Professorship” celebrating 200th anniversary of the foundation of the Austrian central bank (OeNB) and the 650th anniversary of the foundation of the University of Vienna.
For more see the pages (left) about my current work, research grants, blogs, CV, research, policy impact, visiting positions, seminars and discussions, roles in the MMF and CFCM and teaching.
2022 HM Treasury has approved £250,000 for funding MES 2023.
2022 Pleased to be appointed to the National Statistician’s Committee for Advice on Standards for Economic Statistics (NSCASE) which is part of the new governance framework for the Office for National Statistics, reporting to Sir Ian Diamond (National Statistician) and chaired by Martin Weale.
2022 The Productivity Institute latest podcast episode, Bart van Ark looks at Staying productive in uncertain times with Jagjit Chadha, Director of the National Institute of Economic and Social Research; Rain Newton-Smith, Chief Economist at the Confederation of British Industry, and Paul Mizen, Professor of Monetary Economics at the University of Nottingham
2022 The NBER Digest features our latest research on how ‘At-Home Capital’ Attenuated COVID-Related Output Losses. This was featured in a Sunday Times article on 9th January 2022 by the economics editor David Smith., Financial Times (Tim Harford) The lesson humble sea urchins offer about economic resilience and a VoxEU blog
2021 Awarded £440,000 extension funding by the ESRC to the Decision Maker Panel project.
2021 Delighted to be invited to join The Productivity Institute
2021 invited to be a member of the ESCoE Management Group.
2020 Invited to join the Research Partnership Board of the Midlands Engine.
2020 Invited to be a member of the Analytics Group of the D2N2 Local Enterprise Partnership, feeding knowledge of Covid impact and response to the D2N2 Board and city and county councils.
2020 Awarded £265,000 extension funding by the ESRC to the Decision Maker Panel project.
2020 UKRI has awarded £804,000 by UKRI to support research into the business impact of Covid-19, which is a joint project with Bank of England and the Office for National Statistics.
2019 The NBER DIgest features our Brexit uncertainty index and the toll on the UK economy.
2019 International Central Banking Course for central bankers from the European System of Central Banks and other central banks (venue:Central Bank of Malta). More details here.
2019 Kevin Lee and Paul Mizen have been awarded £132,600 by ONS-ESCoE to fund a project on Using Firm-Level Surveys to Understand Industrial and Regional Capacity, Investment, Productivity and Output Growth.
2019 ESRC has awarded £1,102,171 to conduct a second wave and analyse the results of a Management and Expectations Survey with the Office for National Statistics Economic Statistics Centre of Excellence, Nick Bloom (Stanford) and John van Reenen (MIT).
2018 DMP evidence used extensively by the Bank of England's Monetary Policy Committee including the official assessment of the Withdrawal Agreement presented to Parliament (Nov 2018) and in the Agents' Survey on Preparations for EU Withdrawal presented to Parliament (Dec 2018).
2018 Invited to join the Expert Group, ifo World Economic Survey (WES), Munich. ifo surveys have been conducted since 1949 and WES began in 1981. It is one of the longest running surveys of global economic conditions.
2018 Presentations of the DMP evidence on misallocation due to Brexit uncertainty at the FRB Philadelphia, Board of Governors, Federal Reserve, Peterson Institute, International Monetary Fund and Becker Friedman Institute, University of Chicago.
2018 Presentation MMF Special Session at the Royal Economic Society on the DMP evidence base for effects of Brexit on the UK economy.
2018 Presentation at the Royal Economic Society on ONS Management and Expectations Survey.
2018 A new edited book on Macroprudential Policy and Practice was published by Cambridge University Press, this book provides an assessment of the effectiveness of macroprudential instruments used by central banks around the world.
2017 A second launch event for the Decision Maker Panel attended by about 80 senior business executives took place on 22 November 2017 at the Bank of England. Chief Economist Andrew Haldane gave introductory remarks on the timeliness of the Decision Maker Panel project.
2017 A launch event for the Decision Maker Panel attended by about 100 senior business executives took place on 6 November 2017 at Jubilee Conference Centre, University of Nottingham. Deputy Governor Sir Dave Ramsden discussed the role of business surveys in monetary policymaking.
2017 The Decision Maker Panel has received £1.3m funding from various sources including the ESRC, the Bank of England, the University of Nottingham and Stanford University. I will act at Principal Investigator (PI) on this project 2017-2020.
2016 As part of a team involving Professor Nick Bloom, the Bank of England and HM Treasury I have set up a Decision Maker Panel to review the effect of current economic uncertainty on UK firms investment, growth, sales, and cost of finance. Ben Broadbent, Deputy Governor for Monetary Policy has referred to this work here. It has been supported by the ESRC Nottingham Impact Accelerator.
2016 Funded by the Office for National Statistics Economic Statistics Centre of Excellence, as CI on successful NIESR bid to develop a survey on management and uncertainty. We are now collaborating with Nick Bloom (Stanford), Tatsuro Senga (QMUL) and Phil Wales (ONS) to roll out an ONS-led statutory survey of 25,000 firms in mid 2017.
2016 Invited to be the Inaugural OeNB Visiting Professor at the University of Vienna established to mark the 650th anniversary of the University of Vienna and the 200th anniversary of the Austrian National Bank (OeNB)).