Ryland Thomas

Senior Economist - Monetary Assessment and Strategy Division

Biography

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 looks after the Bank of England’s historical macroeconomic database and data on the Bank of England’s historical balance sheet.

Ryland Thomas

 

Ryland's Bank publications

Publication // Working Paper

The Bank of England and central bank credit...

The Bank of England and central bank credit rationing during the crisis of 1847: frosted glass or raised...
Publication // Working Paper

Monetary financing with interest-bearing...

Monetary financing with interest-bearing money
Publication // Working Paper

The Bank of England as lender of last resort:...

The Bank of England as lender of last resort: new historical evidence from daily transactional data
Publication // Working Paper

A sectoral framework for analysing money,...

A sectoral framework for analysing money, credit and unconventional monetary policy
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Ryland's Bank Underground blog posts

The Great War and the Bank of England as Market Maker of Last Resort - April 2019
Looking inside the ledgers: the Bank of England as a Lender of Last Resort - December 2017
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
Modelling banking sector shocks and unconventional policy: new wine in old bottles? - March 2016
Monies – Joining Economic and Legal Perspectives - August 2015 

Ryland's selected academic publications

Dating business cycles in the United Kingdom, 1700–2010, with Steve Broadberry, Jagjit Chadha and Jason Lennard, Economic History Review (2023)
Dating the Lender of Last Resort, with Kilian Rieder, Mike Anson and David Bholat, Economic Journal (2023)
Updated estimates of UK GDP from the income side, 1841–1920, with Solomos Solomou, Economic History Review (2022)
UK Business and Financial Cycles Since 1660 - Volume 1: a narrative overview, with Nicholas Dimsdale, Palgrave (2019)
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)
An Empirical Sectoral Model of Unconventional Monetary Policy: The Impact of QE, with James Cloyne, Alex Tuckett and Samuel Wills; The Manchester School (2015)
Has Weak Lending and Activity in the UK been Driven by Credit Supply Shocks? with A Barnett, Manchester School (2014)
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)

 

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