Prof. David Cobham BA (Econ), MA (Econ), PhD

Profile

Professor of Economics

School of Management & Languages; Accountancy, Economics and Finance

Phone: +44 (0)131 451 3495
Address:
  • Room 1.08
    Mary Burton Building
  • School of Management & Languages; Accountancy, Economics and Finance
  • Heriot-Watt University
  • Edinburgh
  • EH14 4AS
  • United Kingdom
David Cobham

Research profile

Roles and responsibilities

David is a Professor of Economics

Teaching

  • Advanced Economic Policy
  • Advanced Economics
  • Macro Analysis and Policy
Research

David's main research interests are:

  • Monetary policy and central bank independence, primarily in the UK and continental Europe
  • European monetary integration
  • Financial systems
  • Middle Eastern economies
Selected publications

Books

  • 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, 2010 
  • (edited with Ghassan Dibeh) Money in the Middle East and North Africa: Monetary policy frameworks and strategies, Routledge, 2011 
  • (edited with Mongi Boughzala) Inflation Targeting in MENA Countries: An Unfinished Journey, Palgrave 2011 
  • (edited with Miroslav Beblavý and L'udovit Ódor) The Euro Area and the Financial Crisis, Cambridge University Press 2011

Papers

  • '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
  • 'Monetary policy strategies, financial institutions and financial markets: an analytical framework applied to Middle Eastern and North African countries' , in D Cobham and G Dibeh (eds), Money in the Middle East and North Africa: Monetary policy frameworks and strategies, Routledge, 2011
  • 'From Bretton Woods to inflation targeting: financial change and monetary policy evolution in Europe', in D Cobham and M Boughzala, Inflation Targeting in MENA Countries: An Unfinished Journey, Palgrave 2011.
  • 'A Macroeconomic Narrative for the Palestinian Economy', Palestine Economic Policy Research Institute (MAS), Ramallah, 2012.
  • (with Yue Kang) ‘Financial crisis and quantitative easing: can broad money tell us anything?’ Manchester School, 80 (s1), 54-76
  • (with Yue Kang) ‘Time horizons and smoothing in the Bank of England’s reaction function: the contrast between the standard GMM and ex ante forecast approaches’, forthcoming (available online) in Oxford Bulletin of Economics and Statistics.
  • ‘Central banks and house prices in the run-up to the financial crisis’, forthcoming in special issue of Oxford Economic Papers ‘The past, present and future of central banks’, forthcoming in Oxford Review of Economic Policy.

Other

  • '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

Working papers

  • (with Kenichiro Suzuki) 'Recent trends in the sources of finance for Japanese firms: has Japan really become a "high internal finance" country' 
  • 'Currency alignments and the crisis: how has the use of anchor currencies changed?
  • 'Central banks and house prices in the run-up to the crisis' 
  • (with Yue Kang) ‘Time horizons and smoothing in the Bank of England’s reaction function: the contrast between the standard GMM and ex ante forecast approaches’, forthcoming in Oxford Bulletin of Economics and Statistics
Biography

David joined Heriot-Watt in 2006.

  • 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) and workshop on the financial crisis and the MENA countries, in the 12th Mediterranean Ressearch Meeting (April 2011)
  • Member of organising committee of Norges Bank conference on Inflation Targeting Twenty Years On (June 2009)
  • Member of organising committee of conference on 'The Euro Area and the Financial Crisis' , hosted by National Bank of Slovakia (September 2010)
  • Organiser of conference on 'Monetary policy before, during and after the crisis' (sponsored by SIRE and MMF), Heriot-Watt University (September 2011)