An economics lecturer from Queen Mary University of London who specialises in the formation of business relationships over time, known as matching theory, has been awarded the George fellowship from the Bank of England.
The fellowship will allow Dr Renato Faccini, from Queen Mary’s School of Economics and Finance, to engage in full-time research on an economic or financial topic of his own choice, preferably one that would be particularly beneficial to study at the Bank of England.
George Fellowships are awarded to promote research into the working and function of financial business institutions in the UK and elsewhere and the economic conditions affecting them.
Dr Faccini said the fellowship will be instrumental in administering and advancing his research into Brexit.
He said: “I’m delighted to receive this award which I will use to investigate the effects of uncertainty generated by the Brexit referendum as well the long run implications of Brexit itself. I am grateful to Edoardo Palombo, the PhD student in Economics at Queen Mary with whom I have been pursuing these ideas.”
The George Fellowship was established in 2003 to recognise former Governor Sir Edward George’s lifelong service to the Bank, and his role as the first chair of the Monetary Policy Committee.
The Fellowship is administered by trustees, on the advice of an expert committee. One of the fellowship trustees must be a current Bank of England Governor or Deputy Governor. The advisory committee is appointed by the trustees. It is made up of three people who have the academic standing and knowledge to make recommendations on who is awarded a fellowship.
Dr Faccini previously worked at the Bank of England before joining Queen Mary and received his PhD from the European University Institute in 2009.
His research interest is in macroeconomics, but most of his work has focused on search and matching theory applied to business cycle dynamics and labour market institutions.
He has written articles on the determinants of unemployment fluctuations and on the long-term effects of temporary contracts. Recently, his research has investigated the role of hiring frictions for the transmission of technological developments, monetary policy, and changes in beliefs about future economic conditions.
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