Large gaps remain in our knowledge of the interactions between the financial sector and macroeconomic outcomes. Alfred Duncan. a.j.m.duncan@kent.ac.uk. Taught at the University of Kent in Spring 2017. Alfred Duncan & Charles Nolan, 2017. See all articles by Alfred Duncan Alfred Duncan. Alfred has 9 jobs listed on their profile. About Alfred Duncan is a Lecturer in Economics and joined the School of Economics in August 2016.
Alfred Duncan & Charles Nolan, 2015. Duncan, Alfred & Nolan, Charles, 2019. "Disputes, debt and equity," Theoretical Economics, Econometric Society, vol. Alfred Duncan is a lecturer in financial macroeconomics at the University of Kent. 14(3), September.Example plot taken from teaching materials.Costly state verification, risk averse entrepreneurs, imperfect audits, full commitment audit strategies.We show how the prospect of disputes over firms’ revenue reports promotes debt financing over equity. In short, when audit signals are weakly correlated with true incomes, standard debt contracts emerge as optimal; if audit signals are highly correlated with true incomes, optimal contracts resemble equity. "Financial Frictions in Macroeconomic Models". Oxford Research Encyclopedia of Economics and Finance. The prospect of disputes encourages incentive contracts that limit penalties and avoid stochastic monitoring, even when the lender can commit to stochastic monitoring. Consequently, optimal contracts shift from equity toward standard debt. University of Kent - School of Economics. "Financial Frictions in Macroeconomic Models," Studies in Economics 1719, School of Economics, University of Kent. Date Written: January 12, 2016. When individuals have private information about their own luck and income, the sharing of idiosyncratic risks is hampered by moral hazard.
Optimal standard debt contracts under imperfect audits are shown to reproduce key empirical facts of U.S. firm borrowing.business creation decreased 32% since the lockdown.An advanced undergraduate introduction to financial economics.This amounts to over 27,000 fewer businesses than if the 2019 trend had continued.Relative to the same period last year and up until 30 April,Relative to the same period last year and up until 31 May,The module is taught mostly by distance.business creation decreased 25% since the lockdown.Data driven module with a focus on UK business cycles.Oxford research encyclopedia of economics and finance (2018)This amounts to over 38,000 fewer businesses than if the 2019 trend had continued.In recent decades, macroeconomic researchers have looked to incorporate financial intermediaries explicitly into business-cycle models. University of Kent. His main research area is macroeconomics with incomplete financial markets. This course was delivered to a third year undergraduate class at the University of Kent in 2018. "Private information and business cycle risk sharing," Working Papers 2016_02, Business School - Economics, University of Glasgow. There, details are also given on how to add or correct references and citations.Curated articles & papers on various economics topicsPretend you are at the helm of an economics departmentWho was a student of whom, using RePEcPublic profiles for Economics researchersSubscribe to new additions to RePEcBlog aggregator for economics researchHave your research listed on RePEcData, research, apps & more from the St. Louis FedCases of plagiarism in EconomicsQuestions about IDEAS and RePEcUpload your paper to be listed on RePEc and IDEASHave your institution's/publisher's output listed on RePEcFollow serials, authors, keywords & more by Alfred Duncan A (very) short introduction to credit cycles and macroprudential policy for undergraduate economics students. 14(3), September.
"Reform of the UK Financial Policy Committee", Scottish Journal of Political Economy, DOI:10.1111/sjpe.12228Regionally, Wales, Scotland, and Northern Ireland suffer the largest contraction and Greater London the smallest.The construction and retail trade sectors suffer the largest declines in business creation.Includes an introduction to the Julia programming language for applications in finance.Core PhD macroeconomics module.Low quality audits encourage debt financing over equity.
View Alfred Duncan’s profile on LinkedIn, the world's largest professional community.
Duncan, Alfred & Nolan, Charles, 2019. Lecture courses. These modeling developments have helped us to understand the role of the financial sector in the transmission of policy and external shocks into macroeconomic dynamics. Alfred Duncan, 2016.
When audit costs are sufficiently high, stochastic monitoring may be optimal. Alfred Duncan Lecturer, School of Economics, University of Kent Miguel León-Ledesma Professor, School of Economics, University of Kent and CEPR Anthony Savagar Senior Lecturer, School of Economics, University of Kent and Centre for Macroeconomics Key Points Emerging recovery in business creation over June in line with lockdown easing. This is demonstrated in a costly state verification model with a risk-averse entrepreneur. Oxford Research Encyclopedias . "Disputes, debt and equity," Theoretical Economics, Econometric Society, vol. Lecturer (Assistant Professor) School of Economics. Initiative for open bibliographies in EconomicsVarious rankings of research in Economics & related fieldsRePEc working paper series dedicated to the job marketTo make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Abstract.