David Cobham

BA (Econ) 1973, MA (Econ) 1974, and PhD 1982, all from University of Manchester.

E-mail: d.cobham@hw.ac.uk

Phone: (44) (0)131 451 3495

Monetary policy and central bank independence, primarily in the UK and continental Europe; European monetary integration; financial systems; Middle Eastern economies.

Member of the committee of the Money, Macro and Finance Research Group; Associate Editor of the Review of Middle East Economics and Finance; Houblon-Norman Research Fellow at the Bank of England, 1987, 2001. Co-director (with Ghassan Dibeh) of workshop on Monetary Policy and Financial Markets in MENA Countries, in the 10th Mediterranean Research Meeting (EUI) (March 2009). Member of organising committee of Norges Bank conference on Inflation Targeting Twenty Years On (June 2009).

Books:

Macroeconomic Analysis: An Intermediate Text, 2nd edition, Longman, Harlow, 1998, pp. xiv + 263

(edited with George Zis) From EMS to EMU: 1979 to 1999 and beyond, Macmillan, London, 1999

The Making of Monetary Policy in the UK, 1975-2000, John Wiley, Chichester, 2002

(edited with Nu'man Kanafani) The Economics of Palestine: Economic Policy and Institutional Reform for a Viable Palestinian State, Routledge, London, 2004

(edited) The Travails of the Eurozone: Economic Policies, Economic Developments, Palgrave, London, 2007

(edited with Ghassan Dibeh) Monetary Policy and Central Banking in the Middle East and North Africa, Routledge, London, 2009

(edited with Øyvind Eitrheim, Stefan Gerlach and Jan F. Qvigstad) Twenty Years of Inflation Targeting: Lessons Learned and Future Prospects, Cambridge University Press, forthcoming, 2010

Papers:

'Causes and effects of the EMS crises of 1992-93', Journal of Common Market Studies, 1996, vol. 34, pp. 583-602

'The Lawson boom: excessive depreciation versus financial liberalisation', Financial History Review, April 1997, vol. 4, pp.69-90

'Inevitable disappointment? The ERM as the framework for UK monetary policy 1990-92', International Review of Applied Economics, May 1997, vol. 11, pp. 209-224

'The post-ERM framework for monetary policy in the UK', Economic Journal, July 1997, vol. 107, pp. 1128-41

(with Ramesh Subramaniam) 'Corporate finance in developing countries: new evidence for India', World Development, 1998, vol.26, no. 6, pp. 1033-47

(with Stefania Cosci and Fabrizio Mattesini) 'The Italian financial system: neither bank-based nor market-based', Manchester School, vol. 67, June 1999, pp. 325-345

(with Peter Macmillan) ‘Outsider or latecomer: the UK and EMU’, Brown Journal of World Affairs, vol. VI, no. 2, Summer/Fall1999, pp. 149-162

(with Jean-Marin Serre) 'A characterisation of the French financial system', Manchester School, vol. 68, January 2000, pp.44-67

'Economic aspects of the Israeli-Palestinian conflict', Economic Journal, vol. 111, June 2001, pp.F249-53

'The exchange rate as a source of disturbances: the UK 1979-2000', National Institute Economic Review, no. 181, July 2002, pp.96-112

'Why does the Monetary Policy Committee smooth interest rates?', Oxford Economic Papers, vol. 55, July 2003, pp. 467-93

'Alternative currency arrangements', in David Cobham and Nu'man Kanafani (eds), The Economics of Palestine, Routledge, 2004, pp. 38-59

(with Chris Adam and Nu'man Kanafani) 'Budgetary and fiscal policy', in David Cobham and Nu'man Kanafani (eds), The Economics of Palestine, Routledge, 2004, pp. 64-91

(with Athanasios Papadopoulos and George Zis) 'The cost of political intervention in monetary policy', International Finance, vol. 7, 2004, pp. 471-93

(with Chris Adam and Eric Girardin) 'Monetary frameworks and institutional constraints: UK monetary policy reaction functions, 1985-2003', Oxford Bulletin of Economics and Statistics, vol. 67, 2005, pp. 497-516

'Monetary policy and the sterling exchange rate', Economic Journal, vol. 116, June 2006, pp. F181-F184

'The overvaluation of sterling since 1996: how the policy makers responded and why', Economic Journal, vol. 116, June 2006, pp. F185-F207

(with Chris Adam) 'Exchange rate regimes and trade', Manchester School vol. 75 (s1), September 2007, pp. 44-63

(with Stefania Cosci and Fabrizio Mattesini) 'Informal central bank independence: an analysis for three European countries', Scottish Journal of Political Economy, vol. 55, July 2008, pp. 251-80

(with Chris Adam) 'Alternative exchange rate regimes for MENA countries: gravity model estimates of the trade effects', in David Cobham and Ghassan Dibeh (eds), Monetary Policy and Central Banking in the Middle East and North Africa, Routledge, London, 2009

(with Chris Adam) 'Using real time output gaps to examine past and future policy choices', National Institute Economic Review, no. 210, October 2009, pp. 98-110

'Restoring Trust at the Treasury', Financial Times, 10 August 2000

'The Costs of Sterling', Financial Times, 5 July 2002

'The Sterling Experience', in P Stephens et al, Taking a Pounding, Britain in Europe, September 2002

(with Kenichiro Suzuki) 'Recent trends in the sources of finance for Japanese firms: has Japan really become a "high internal finance" country' [pdf file]

'Using Taylor rules to assess the relative monetary policy activism of the European Central Bank, the Bank of England and the Federal Reserve Board' [pdf file]

'Changing currency alignments: euro versus dollar' [pdf file]