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Alistair Macaulay

Personal Details

First Name:Alistair
Middle Name:
Last Name:Macaulay
Suffix:
RePEc Short-ID:pma3165
[This author has chosen not to make the email address public]
https://sites.google.com/site/alistairmacaulayecon
Terminal Degree: (from RePEc Genealogy)

Affiliation

School of Economics
University of Surrey

Guildford, United Kingdom
http://www.surrey.ac.uk/school-economics
RePEc:edi:desuruk (more details at EDIRC)

Research output

as
Jump to: Working papers Articles

Working papers

  1. Alexa Kaminski & Alistair Macaulay & Wenting Song, 2026. "Monetary Policy Narratives and the Transmission of Monetary Policy," School of Economics Discussion Papers 0126, School of Economics, University of Surrey.
  2. Alistair Macaulay, 2026. "The Causal Effects of Heterogeneous Expectation Formation in General Equilibrium," School of Economics Discussion Papers 0326, School of Economics, University of Surrey.
  3. Alistair Macaulay & Chenchuan Shi, 2025. "Ambiguity Aversion, Portfolio Choice, and Life Expectancy," School of Economics Discussion Papers 0425, School of Economics, University of Surrey.
  4. Xing Guo & Alistair Macaulay & Wenting Song, 2024. "The (Mis)Allocation of Corporate News," Staff Working Papers 24-47, Bank of Canada.
  5. Alistair Macaulay & Wenting Song, 2023. "Narrative-Driven Fluctuations in Sentiment: Evidence Linking Traditional and Social Media," Staff Working Papers 23-23, Bank of Canada.
  6. Alistair Macaulay & James Moberly, 2022. "Heterogeneity in imperfect inflation expectations:theory and evidence from a novel survey," Economics Series Working Papers 970, University of Oxford, Department of Economics.
  7. Alistair Macaulay, 2022. "Heterogeneous Information, Subjective Model Beliefs, and the Time-Varying Transmission of Shocks," CESifo Working Paper Series 9733, CESifo.
  8. Alistair Macaulay, 2021. "The Attention Trap: Rational Inattention, Inequality, and Fiscal Policy," Economics Series Working Papers 931, University of Oxford, Department of Economics.
  9. McMahon, Michael & Haldane, Andrew & Macaulay, Alistair, 2020. "The 3 E’s of Central Bank Communication with the Public," CEPR Discussion Papers 14265, Centre for Economic Policy Research.
  10. Andrew Haldane & Alistair Macaulay & Michael McMahon, 2020. "The 3 E’s of central bank communication with the public," Bank of England Staff Working Paper series 847, Bank of England.
  11. Ellison, Martin & Macaulay, Alistair, 2019. "A Rational Inattention Unemployment Trap," CEPR Discussion Papers 13761, Centre for Economic Policy Research.

Articles

  1. Alistair Macaulay & Chenchuan Shi, 2026. "Ambiguity Aversion, Portfolio Choice, and Life Expectancy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 67(2), pages 633-655, May.
  2. Alistair Macaulay, 2025. "Cyclical Attention to Saving," American Economic Journal: Macroeconomics, American Economic Association, vol. 17(4), pages 124-167, October.
  3. Alistair Macaulay & Wenting Song, 2023. "News Media, Inflation, and Sentiment," AEA Papers and Proceedings, American Economic Association, vol. 113, pages 172-176, May.
  4. Macaulay, Alistair, 2021. "The attention trap: Rational inattention, inequality, and fiscal policy," European Economic Review, Elsevier, vol. 135(C).
  5. Ellison, Martin & Macaulay, Alistair, 2021. "A rational inattention unemployment trap," Journal of Economic Dynamics and Control, Elsevier, vol. 131(C).

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Alexa Kaminski & Alistair Macaulay & Wenting Song, 2026. "Monetary Policy Narratives and the Transmission of Monetary Policy," School of Economics Discussion Papers 0126, School of Economics, University of Surrey.

    Cited by:

    1. Firmin Ayivodji & Etienne Briand & Kevin Moran & Dalibor Stevanovic, 2026. "Monetary Policy in the Media Spotlight: Sentiments, Signals, and Economic Impact," Papers 2605.15092, arXiv.org.

  2. Alistair Macaulay, 2026. "The Causal Effects of Heterogeneous Expectation Formation in General Equilibrium," School of Economics Discussion Papers 0326, School of Economics, University of Surrey.

    Cited by:

    1. Frantisek Masek, 2026. "Households' Inflation Expectations and Consumption in Macroeconomic Models: A Negative Real Income Channel," Working Papers 2026/06, Czech National Bank, Research and Statistics Department.

  3. Xing Guo & Alistair Macaulay & Wenting Song, 2024. "The (Mis)Allocation of Corporate News," Staff Working Papers 24-47, Bank of Canada.

    Cited by:

    1. Ding Dong & Allen Hu & Zhaorui Li & Zheng Liu, 2025. "Information Acquisition and the Finance-Uncertainty Trap," Working Paper Series 2025-12, Federal Reserve Bank of San Francisco.
    2. Jacobs, Heiko & Lauber, Alexander & Müller, Sebastian, 2025. "Bearish bets and the press: On the relation between short interest and media tone," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 104(C).

  4. Alistair Macaulay & Wenting Song, 2023. "Narrative-Driven Fluctuations in Sentiment: Evidence Linking Traditional and Social Media," Staff Working Papers 23-23, Bank of Canada.

    Cited by:

    1. Colesanti Senni, Chiara & Goel, Skand, 2025. "Nature scenario plausibility: A dynamic Bayesian network approach," Ecological Economics, Elsevier, vol. 236(C).
    2. Weinig, Max & Fritsche, Ulrich, 2025. "Going viral: Inflation narratives and the macroeconomy," WiSo-HH Working Paper Series 86, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory, revised 2025.
    3. Xing Guo & Alistair Macaulay & Wenting Song, 2024. "The (Mis)Allocation of Corporate News," Staff Working Papers 24-47, Bank of Canada.
    4. Anwesha Banerjee & Katharina Momsen, 2025. "(Un-)scientifically Spun: Narratives, Belief Updating, and Pro-Environmental Behavior," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 88(12), pages 3873-3903, December.
    5. Kai Gehring & Matteo Grigoletto, 2025. "Virality: What Makes Narratives Go Viral, and Does it Matter?," CESifo Working Paper Series 12064, CESifo.
    6. Francesco Bilotta & Alberto Binetti & Giacomo Manferdini, 2025. "Blameocracy: Causal Rhetoric in Politics," Papers 2504.06550, arXiv.org, revised Nov 2025.
    7. Kai Gehring & Matteo Grigoletto, 2023. "Analyzing Climate Change Policy Narratives with the Character-Role Narrative Framework," CESifo Working Paper Series 10429, CESifo.
    8. Vito Cormun & Kim Ristolainen, 2024. "Exchange Rate Narratives," Discussion Papers 167, Aboa Centre for Economics.
    9. Chenyu Hou and Tao Wang, 2024. "Uncovering Subjective Models from Survey Expectations," Discussion Papers dp24-09, Department of Economics, Simon Fraser University.
    10. Alexa Kaminski & Alistair Macaulay & Wenting Song, 2026. "Monetary Policy Narratives and the Transmission of Monetary Policy," School of Economics Discussion Papers 0126, School of Economics, University of Surrey.
    11. Demgensky, Lisa & Fritsche, Ulrich, 2023. "Narratives on the causes of inflation in Germany: First results of a pilot study," WiSo-HH Working Paper Series 77, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory.
    12. Chenyu Hou & Tao Wang, 2025. "Uncovering Subjective Models from Survey Expectations," Staff Working Papers 25-31, Bank of Canada.
    13. Alistair Macaulay, 2026. "The Causal Effects of Heterogeneous Expectation Formation in General Equilibrium," School of Economics Discussion Papers 0326, School of Economics, University of Surrey.

  5. Alistair Macaulay, 2022. "Heterogeneous Information, Subjective Model Beliefs, and the Time-Varying Transmission of Shocks," CESifo Working Paper Series 9733, CESifo.

    Cited by:

    1. Alistair Macaulay & James Moberly, 2022. "Heterogeneity in imperfect inflation expectations:theory and evidence from a novel survey," Economics Series Working Papers 970, University of Oxford, Department of Economics.
    2. Macaulay, Alistair & Song, Wenting, 2022. "Narrative-Driven Fluctuations in Sentiment: Evidence Linking Traditional and Social Media," MPRA Paper 113620, University Library of Munich, Germany.

  6. Alistair Macaulay, 2021. "The Attention Trap: Rational Inattention, Inequality, and Fiscal Policy," Economics Series Working Papers 931, University of Oxford, Department of Economics.

    Cited by:

    1. Alistair Macaulay & Chenchuan Shi, 2025. "Ambiguity Aversion, Portfolio Choice, and Life Expectancy," School of Economics Discussion Papers 0425, School of Economics, University of Surrey.
    2. Alistair Macaulay, 2022. "Heterogeneous Information, Subjective Model Beliefs, and the Time-Varying Transmission of Shocks," CESifo Working Paper Series 9733, CESifo.
    3. Alistair Macaulay, 2026. "The Causal Effects of Heterogeneous Expectation Formation in General Equilibrium," School of Economics Discussion Papers 0326, School of Economics, University of Surrey.

  7. McMahon, Michael & Haldane, Andrew & Macaulay, Alistair, 2020. "The 3 E’s of Central Bank Communication with the Public," CEPR Discussion Papers 14265, Centre for Economic Policy Research.

    Cited by:

    1. Ehrmann, Michael & Wabitsch, Alena, 2022. "Central bank communication with non-experts – A road to nowhere?," Journal of Monetary Economics, Elsevier, vol. 127(C), pages 69-85.
    2. Tim Munday & James Brookes, 2021. "Mark my words: the transmission of central bank communication to the general public via the print media," Bank of England Staff Working Paper series 944, Bank of England.
    3. D'Acunto, Francesco & Hoang, Daniel & Paloviita, Maritta & Weber, Michael, 2020. "Effective policy communication: Targets versus instruments," Bank of Finland Research Discussion Papers 17/2020, Bank of Finland.
    4. Ferrara, Federico Maria & Angino, Siria, 2022. "Does clarity make central banks more engaging? Lessons from ECB communications," European Journal of Political Economy, Elsevier, vol. 74(C).
    5. Mochhoury, Sarah, 2023. "Central bank communication and trust: an experimental study on the European Central Bank and the general public," Working Paper Series 2824, European Central Bank.
    6. Piotr Turek, 2023. "Bezrobocie, inflacja i wzrost gospodarczy w świetle polityki informacyjnej Narodowego Banku Polskiego," Bank i Kredyt, Narodowy Bank Polski, vol. 54(5), pages 499-518.
    7. Roy Trivedi, Smita & Ghosh, Saibal, 2025. "Do deeds match words? India’s monetary policy needs to “walk the talk” for inflation anchoring," Journal of Policy Modeling, Elsevier, vol. 47(3), pages 662-680.
    8. Blinder, Alan S. & Ehrmann, Michael & de Haan, Jakob & Jansen, David-Jan, 2022. "Central Bank communication with the general public: promise or false hope?," Working Paper Series 2694, European Central Bank.

  8. Andrew Haldane & Alistair Macaulay & Michael McMahon, 2020. "The 3 E’s of central bank communication with the public," Bank of England Staff Working Paper series 847, Bank of England.

    Cited by:

    1. Ehrmann, Michael & Wabitsch, Alena, 2022. "Central bank communication with non-experts – A road to nowhere?," Journal of Monetary Economics, Elsevier, vol. 127(C), pages 69-85.
    2. Tim Munday & James Brookes, 2021. "Mark my words: the transmission of central bank communication to the general public via the print media," Bank of England Staff Working Paper series 944, Bank of England.
    3. D'Acunto, Francesco & Hoang, Daniel & Paloviita, Maritta & Weber, Michael, 2020. "Effective policy communication: Targets versus instruments," Bank of Finland Research Discussion Papers 17/2020, Bank of Finland.
    4. Ferrara, Federico Maria & Angino, Siria, 2022. "Does clarity make central banks more engaging? Lessons from ECB communications," European Journal of Political Economy, Elsevier, vol. 74(C).
    5. Miller, Marcus, 2021. "Choosing the narrative : the shadow banking crisis in the light of Covid," The Warwick Economics Research Paper Series (TWERPS) 1324, University of Warwick, Department of Economics.
    6. Mochhoury, Sarah, 2023. "Central bank communication and trust: an experimental study on the European Central Bank and the general public," Working Paper Series 2824, European Central Bank.
    7. Piotr Turek, 2023. "Bezrobocie, inflacja i wzrost gospodarczy w świetle polityki informacyjnej Narodowego Banku Polskiego," Bank i Kredyt, Narodowy Bank Polski, vol. 54(5), pages 499-518.
    8. Roy Trivedi, Smita & Ghosh, Saibal, 2025. "Do deeds match words? India’s monetary policy needs to “walk the talk” for inflation anchoring," Journal of Policy Modeling, Elsevier, vol. 47(3), pages 662-680.
    9. Blinder, Alan S. & Ehrmann, Michael & de Haan, Jakob & Jansen, David-Jan, 2022. "Central Bank communication with the general public: promise or false hope?," Working Paper Series 2694, European Central Bank.

  9. Ellison, Martin & Macaulay, Alistair, 2019. "A Rational Inattention Unemployment Trap," CEPR Discussion Papers 13761, Centre for Economic Policy Research.

    Cited by:

    1. Maćkowiak, Bartosz & Matějka, Filip & Wiederholt, Mirko, 2021. "Rational inattention: a review," Working Paper Series 2570, European Central Bank.
    2. Bartosz Maćkowiak & Mirko Wiederholt, 2021. "Rational Inattention and the Business Cycle Effects of Productivity and News Shocks," Sciences Po Economics Publications (main) hal-03878704, HAL.
    3. Yin, Penghui, 2021. "Optimal attention and heterogeneous precautionary saving behavior," Journal of Economic Dynamics and Control, Elsevier, vol. 131(C).

Articles

  1. Alistair Macaulay & Wenting Song, 2023. "News Media, Inflation, and Sentiment," AEA Papers and Proceedings, American Economic Association, vol. 113, pages 172-176, May.

    Cited by:

    1. Couture, Cody & Owen, Ann L., 2025. "Social media advertising and macroeconomic expectations: Evidence from Meta," Economics Letters, Elsevier, vol. 255(C).
    2. Kfir Eliaz & Ran Spiegler, 2024. "News Media as Suppliers of Narratives (and Information)," Papers 2403.09155, arXiv.org.
    3. Michael McMahon, 2024. "Lessons for Monetary Policy Communication: Communication, Getting Through and Expectation Formation," RBA Annual Conference Papers acp2024-01, Reserve Bank of Australia, revised May 2025.
    4. Schmidt, Tobias, 2025. "Narrating inflation: How German economic journalists explain post-covid price rises," DoCMA Working Papers 14, TU Dortmund University, Dortmund Center for Data-based Media Analysis (DoCMA).
    5. Kai-Robin Lange & Tobias Schmidt & Matthias Reccius & Henrik Muller & Michael Roos & Carsten Jentsch, 2025. "Narrative Shift Detection: A Hybrid Approach of Dynamic Topic Models and Large Language Models," Papers 2506.20269, arXiv.org.
    6. Nikoleta Anesti & Vania Esady & Matthew Naylor, 2024. "Food prices matter most: Sensitive household inflation expectations," Discussion Papers 2434, Centre for Macroeconomics (CFM).

  2. Macaulay, Alistair, 2021. "The attention trap: Rational inattention, inequality, and fiscal policy," European Economic Review, Elsevier, vol. 135(C).
    See citations under working paper version above.
  3. Ellison, Martin & Macaulay, Alistair, 2021. "A rational inattention unemployment trap," Journal of Economic Dynamics and Control, Elsevier, vol. 131(C).
    See citations under working paper version above.

More information

Research fields, statistics, top rankings, if available.

Statistics

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Co-authorship network on CollEc

NEP Fields

NEP is an announcement service for new working papers, with a weekly report in each of many fields. This author has had 11 papers announced in NEP. These are the fields, ordered by number of announcements, along with their dates. If the author is listed in the directory of specialists for this field, a link is also provided.
  1. NEP-MAC: Macroeconomics (6) 2019-07-22 2020-02-03 2020-07-27 2022-06-13 2022-06-20 2023-05-08. Author is listed
  2. NEP-MON: Monetary Economics (6) 2020-02-03 2020-07-27 2022-06-13 2022-06-20 2023-05-08 2026-01-26. Author is listed
  3. NEP-BIG: Big Data (3) 2022-08-08 2023-05-08 2023-12-11. Author is listed
  4. NEP-CBA: Central Banking (3) 2020-02-03 2023-05-08 2026-01-26. Author is listed
  5. NEP-BAN: Banking (2) 2022-08-08 2023-05-08
  6. NEP-DGE: Dynamic General Equilibrium (2) 2019-07-22 2025-05-12
  7. NEP-FDG: Financial Development and Growth (2) 2023-05-08 2025-01-13
  8. NEP-AGE: Economics of Ageing (1) 2025-05-12
  9. NEP-ORE: Operations Research (1) 2019-07-22
  10. NEP-UPT: Utility Models and Prospect Theory (1) 2025-05-12

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