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Andrew Scott

Professor of Economics

MSc (London), PhD (Oxford)

Andrew Scott is Professor of Economics and former Deputy Dean at London Business School. He is also a Fellow of All Souls, Oxford University and Fellow of the Centre for Economic Policy Research. He previously held lecturing positions at Harvard University, London School of Economics and Oxford University.

At London Business School he lectures on macroeconomics, focusing on providing an understanding of how macro forces shape the global competitive environment. He has won the General Teaching Excellence prize (for which he is regularly shortlisted). His research focuses on business cycles, monetary and fiscal policy and longevity. He has published widely in leading international academic journals and with David Miles and Francis Breedon is author of a textbook, Macroeconomics: Understanding the Global Economy, which has been translated into four languages and soon will appear in its Fourth Edition. His book, with Lynda Gratton The Hundred Year Life, published in May 2016.

Previously he was Managing Editor for the Royal Economic Society’s Economic Journal between 2004-2011 and Scientific Chair of the Euro Area Business Cycle Network. In addition he was Non Executive Director and Chair Risk Committee for the UK’s Financial Services Authority 2009-2013. He has been an advisor on Monetary Policy to the House of Commons Treasury Select Committee and to Chief Economists at both the Bank of England (on monetary policy) and H.M.Treasury (on fiscal policy and debt management) and Economic Advisor to the Prime Minister of Mauritius between 2007 and 2015. He is currently on the advisory board of the UK’s Office for Budget Responsibility.

Both through executive education and as a consultant he has assisted a wide range of firms across a range of industries (financial services, investment banking, manufacturing) and offered guidance to both CEOs and ministers. Through his teaching and consultancy he aims to both explain and make clear the relevance of broader factors, both short and long run, to corporate and national success.


100-year Llfe: living and working in an age of longevity

Gratton L; Scott A

Bloomsbury, 2016

Deleveraging risk

Scott R A; Saffi P A C; Sigurdsson K

Journal of Financial and Quantitative Analysis 2016 Forthcoming


Learning and price volatility in duopoly models of resource depletion

Ellison M; Scott A

Journal of Monetary Economics 2013 Vol 60:7 p 806-820

The impact of debt levels and maturity on inflation

Faraglia E; Marcet A; Oikonomou R; Scott A

Economic Journal 2013 Vol 123:566 p F164-F192


Macroeconomics: Understanding the wealth of nations 3rd Edition

Miles D; Scott A; Breedon F

John Wiley 2012

Quantative easing and unconventional monetry policy - An introduction

Joyce M; Miles D; Scott A; Vayanos D

Economic Journal 2012 Vol 122:564 p F271-F288


In search of a theory of debt management

Scott A; Faraglia E; Marcet A

Journal of Monetary Economics 2010 November Vol 57:7 p 821-836


Debt and deficit fluctuations and the structure of bond markets

Marcet A; Scott A

Journal of Economic Theory 2009 Vol 144:2 p 473-501

The dynamics of trade and competition

Chen N; Imbs J; Scott A

Journal of International Economics 2009 Vol 77:1 p 50-62


Fiscal insurance and debt management in OECD economics

Scott A; Faraglia E; Marcet A

Economic Journal 2008 Vol 118:527

Inflation implications of rising government debt

Scott A; Giannitsarou C

NBER International Macroeconomics Annual 2008 2008 2008


Optimal Taxation and OECD Labor Taxes

Scott A

Journal of Monetary Economics 2007 Vol 54:3 p 925-944


Computational methods for the study of dynamic economics

Marimon R; Scott A; eds.

Oxford University Press, 2001

Discussion of Phelps E and Zoega G, 'Structural booms'

Scott A

Economic Policy 2001 Apr Vol 16:32 p 117-119

Macroeconomics: understanding the wealth of nations

Miles D K; Scott A

John Wiley, 2001


Optimal consumption under imperfect capital markets

Scott A

Economics Letters 2000 Vol 66:1 p 65-70

Sticky prices and volatile output

Scott A; Ellison M

Journal of Monetary Economics 2000 Vol 46:3 p 621-632


Empirical implications of optimal debt management under various financial market structures

Marcet A; Scott A

in Eijffinger S C W, Portes R et al. eds., The changing European financial landscape, CEPR, 1999

Fickle investors: an impediment to growth

Scott A; Uhlig H

European Economic Review 1999 Vol 43:7 p 1345-1370

Fiscal policy and optimal debt management in OECD countries

Scott A; Marcet A

in Eijffinger S C W, Portes R et al. eds., The changing European financial landscape, CEPR, 1999


Determinants of UK business cycles

Holland A; Scott A

Economic Journal 1998 Jul Vol 108 p 1067-1092


Asymmetric business cycles: theory and time series evidence

Acemoglu D; Scott A

Journal of Monetary Economics 1997 Dec Vol 40:3 p 501-534

Labour market over the business cycle: can theory fit the facts?

Millard S; Sensur M; Scott A

Oxford Review of Economic Policy 1997 Autumn Vol 13:3 p 70-92

Property and inflation: is there a hedge?

Scott A

Journal of Real Estate Finance and Economics 1997 Jun Vol 15:1 p 59-76


Asymmetries in the cyclical behaviour of UK labour markets

Scott A; Acemoglu D

Economic Journal 1994 Nov Vol 104:427 p 1303-1323

Consumer confidence and rational expectations

Scott A; Acemoglu D

Economic Journal 1994 Jan Vol 104:422 p 1-19

Hark the herald cash tills ring

Scott A

Financial Times 1994 Dec 24

Seasonality in dynamic regression models

Scott A; Harvey A

Economic Journal 1994 Nov Vol 104:427 p 1324-1345


Estimation of single equation rational expectations models: an application to UK consumption

Robertson D C; Scott A

Oxford Bulletin of Economics and Statistics 1993 May Vol 55:2 p 237-244

What determines institutional investment?

Scott A; Dinenis E

Oxford Economic Papers 1993 Apr Vol 45:2 p 292-310


Dollar, the oil price and policy divergence

Allen C B; Scott A

Economic Outlook 1991 Feb Vol 15:5 p 50-55

Investment needs of a unified Germany

Scott A

International Economic Outlook 1991 Jun Vol 1:1 p 30-35

Place of commercial property in the UK economy

Currie D A; Scott A

London Business School, 1991


Explaining consumption in the 1980s

Scott A

Economic Outlook 1990 Oct Vol 15:1 p 40-43


Portfolio selection and the investment performance of the UK pension funds

Scott A; Dinenis E

Economic Outlook 1989 Oct Vol 14:1 p 30-34

Trends and cycles in GDP

Scott A; Smith P N

Economic Outlook 1989 Jun Vol 13:9 p 25-34

EMBA Global, Global Economic Environment, SPR15

International Assignment, Dubai, SPR15

Research Interests

  • Macroeconomics
  • Business cycles and inflation
  • Fiscal policy and debt management
  • Monetary economics
  • Macroprudential