Richard Harrison

Senior Research and Policy Advisor – Monetary Analysis


Richard is a Senior Research and Policy Advisor in the Monetary Analysis Directorate. He has extensive experience in macroeconomic modelling and his research interests include monetary policy strategy, with a recent focus on forward guidance and quantitative easing. 

Richard received his PhD in Economics from Birkbeck, University of London. He also holds an MSc in Economics from the London School of Economics, and a BA in Economics from the University of Cambridge.

Richard's Bank Underground blog posts

Global R* - November 2023
Covid-19 briefing: monetary policy strategy post-Covid - November 2020
Optimal quantitative easing - December 2017
The forward guidance paradox - June 2017
Hedging the zero bound with threshold-based forward guidance - November 2015

Richard's selected academic publications

‘The Brexit vote, productivity growth and macroeconomic adjustments in the United Kingdom’ - The Review of Economic Studies (2023)
House Price Dynamics, Optimal LTV Limits and the Liquidity Trap - The Review of Economic Studies (2023)
DSGE-based priors for BVARs and quasi-Bayesian estimation - Econometrics and Statistics (2020)
Uncertain policy promises - European Economic Review (2019)
Threshold-based forward guidance - Journal of Economic Dynamics and Control (2018)
Estimating the effects of forward guidance in rational expectations models - European Economic Review (2015)
Practical tools for policy analysis in DSGE models with missing shocks - Journal of Applied Econometrics (2014)
Asset purchase policies and portfolio balance effects: a DSGE analysis, in Interest rates, prices and liquidity - Cambridge University Press (2011)
On the application and use of DSGE models - Journal of Economic Dynamics and Control (2008)
The danger of inflating expectation of macroeconomic stability: heuristic switching in a monetary overlapping generations model - International Journal of Central Banking (2008)
Forecasting with measurement errors in dynamic models - International Journal of Forecasting (2005)
Monetary policy rules for an open economy - Journal of Economic Dynamics and Control (2003)