Reader - Associate Professor

Contact details

School of Economics and Finance

Queen Mary, University of London

Mile End Road

London, E1 4NS

United Kingdom


Research areas

Macroeconomics, real estate, monetary economics, macro-finance

Other appointments

Centre for Macroeconomics, LSE

Associate Editor, European Economic Review


Working papers


Earlier WP versions of published papers are available here.

Old and dormant papers

  • "Time to Produce and the Puzzling Behavior of Labor Productivity" (draft), First-year summer paper in the PhD programme at Carnegie Mellon University.

  • "Limited Participation and Inflation Determinacy" (draft)


  • Housing market in the Czech Republic (slides), date: 9 March 2018

  • Accounting for UK Recessions (slides): date 14 October 2011


Courses I teach or have taught in the past few years

  • Macro A: Recursive Methods. First-year PhD course at Queen Mary. It covers the basics of recursive methods: Markov processes, dynamic programming, and the recursive competitive equilibrium. In each topic it discusses the issues of existence, uniqueness and convergence and problems with both continuous and discrete variables. These concepts are demonstrated at the backdrop of three examples: the neoclassical growth model, household consumption-saving decisions, and firm profit maximization problems in the presence of adjustment costs. Each part of the course is accompanied by computational exercises. The course is preceded by a crash course on the basics of programming and numerical methods.

2019-20: Syllabus, HW1, HW2, HW3, HW4

  • Business Cycles. Third-year undergraduate course at Queen Mary. Using two- or three- period OLG models with simple functional forms, in order to avoid the burden of complicated dynamic optimization, the course introduces students to modern dynamic general equilibrium macroeconomics. After covering the basics of the OLG framework (the planner's problem and a decentralized monetary equilibrium) the course focuses on the real business cycle theory and recent research on housing in macroeconomics. Students are also introduced to the way modern models are parameterized (calibration/GMM estimation). The implications of the models are confronted with the standard business cycle statistics as well as the recent boom-bust in the housing market. Depending on the year, the course also covers government debt sustainability, ageing population, bank runs and financial crisis, and the macroeconomic implications of within-cohort wealth inequality.

  • Macro and Housing. Second-year PhD macro topics course taught at the London School of Economics. The aim is to get students quickly to the frontier of research on the macroeconomic aspects of housing. The course covers three areas, focusing on the main research questions, tools, data, and some recent papers: i) housing and the business cycle, ii) tenure, mortgage, and portfolio choice, and iii) housing and monetary policy.

  • Monetary Economics. MSc level course taught at the London School of Economics. Starts with a basic RBC model and in a one-thing-at-a-time fashion introduces inflation and the nominal interest rate, commodity prices, taxes, sticky prices, sticky wages, and a banking sector with inside and outside money. Concludes with the basics of consumption-based dynamic asset pricing theory and affine models of the term structure. The aim is to provide an insight into the equilibrium effects of the various features of typical DSGE models without requiring any knowledge of computational methods.