Details about Michael McLeay

Access statistics for papers by Michael McLeay.

Last updated 2025-12-09. Update your information in the RePEc Author Service.

Short-id: pmc249

Working Papers

2025

1. Dollar dominance and the transmission of monetary policy
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library

2020

2. Optimal inflation and the identification of the Phillips curve
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (29)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (56)
   Discussion Papers, Centre for Macroeconomics (CFM) (2018) View citations (13)
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2018) View citations (13)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (13)
   See also Journal Article Optimal Inflation and the Identification of the Phillips Curve, NBER Macroeconomics Annual, University of Chicago Press (2020) View citations (61) (2020)
   Chapter Optimal Inflation and the Identification of the Phillips Curve, NBER Chapters, National Bureau of Economic Research, Inc (2019) View citations (52) (2019)

2019

3. Monetary policy for commodity booms and busts
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
4. Targeting financial stability: macroprudential or monetary policy?
   Working Paper Series, European Central Bank View citations (10)
   Also in Bank of England working papers, Bank of England (2018) View citations (17)
   See also Journal Article Targeting Financial Stability: Macroprudential or Monetary Policy?, International Journal of Central Banking, International Journal of Central Banking (2023) View citations (6) (2023)

2016

5. Pass-through of bank funding costs to lending and deposit rates: lessons from the financial crisis
   Bank of England working papers, Bank of England View citations (12)

Journal Articles

2023

1. Targeting Financial Stability: Macroprudential or Monetary Policy?
   International Journal of Central Banking, 2023, 19, (1), 159-242 View citations (6)
   See also Working Paper Targeting financial stability: macroprudential or monetary policy?, Working Paper Series (2019) View citations (10) (2019)

2020

2. Optimal Inflation and the Identification of the Phillips Curve
   NBER Macroeconomics Annual, 2020, 34, (1), 199 - 255 View citations (61)
   See also Chapter Optimal Inflation and the Identification of the Phillips Curve, NBER Chapters, 2019, 199-255 (2019) View citations (52) (2019)
   Working Paper Optimal inflation and the identification of the Phillips curve, LSE Research Online Documents on Economics (2020) View citations (29) (2020)

2014

3. Money creation in the modern economy
   Bank of England Quarterly Bulletin, 2014, 54, (1), 14-27 View citations (366)
4. Money in the modern economy: an introduction
   Bank of England Quarterly Bulletin, 2014, 54, (1), 4-13 View citations (67)

2012

5. Influences on household spending: evidence from the 2012 NMG Consulting survey
   Bank of England Quarterly Bulletin, 2012, 52, (4), 332-342 View citations (2)
6. What can the money data tell us about the impact of QE?
   Bank of England Quarterly Bulletin, 2012, 52, (4), 321-331 View citations (26)

Chapters

2019

1. Optimal Inflation and the Identification of the Phillips Curve
   A chapter in NBER Macroeconomics Annual 2019, volume 34, 2019, pp 199-255 View citations (52)
   See also Working Paper Optimal inflation and the identification of the Phillips curve, London School of Economics and Political Science, LSE Library (2020) View citations (29) (2020)
   Journal Article Optimal Inflation and the Identification of the Phillips Curve, University of Chicago Press (2020) View citations (61) (2020)