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Home > Research > Ryland Thomas

Ryland Thomas

​​Senior Economist - Monetary Assessment and Strategy Division ​

Ryland Thomas

Ryland's research has mainly focused on the role of money and credit in the economy and has largely involved using empirical time series methods.  Ryland has also researched the impact of QE, fiscal policy and oil price changes on the UK economy.  Additionally he has a research interest in the UK’s economic history.  Currently he look after the Bank of England’s historical macroeconomic database and data on the Bank of England’s historical balance sheet.

​ Email RylandRyland Thomas at IDEAS

​Selected Academic Publications

UK broad money growth and nominal spending during the Great Recession: an analysis of the money creation process and the role of money demand
in Money in the Great Recession: Did a Crash in Money Growth Cause the Global Slump? edited by T Congdon, E Elgar (2017)
UK broad money growth in the long expansion, 1992–2007: what can it tell us about the role of money?
with Michael McLeay; The UK Economy in the Long Expansion and its Aftermath, Cambridge University Press (2016)
The analysis of money and credit during the financial crisis – the approach at the Bank of England
with Jon Bridges, James Cloyne and Alex Tuckett; Monetary Analysis at Central Banks (Jon Bridges, James Cloyne and Alex Tuckett; in Monetary Analysis at Central Banks (2016)
An Empirical Sectoral Model of Unconventional Monetary Policy: The Impact of QE
with James Cloyne, Alex Tuckett and Samuel Wills; The Manchester School (2015)
The Link Between Money and Nominal Spending: A look at Historical UK data through the lens of the Quantity Theory
World Economics (2014).

​​Money, Debt and Prices in the United Kingdom
with N Janssen, C Nolan; Economica (2002).

​Bank Publications

Date Title

​Bank Underground blog posts

Central Bank Balance Sheets: Past. Present and Future
July 2017
​​The ghost of crises past, present and future: The Bank Charter Act goes on trial in 1847
December 2016
Monies – Joining Economic and Legal Perspectives
August 2015