The very first gathering of monetary economists in the UK took place under Harry Johnson’s aegis at Hove in October 1969. The meeting was held to commemorate the tenth anniversary of the Radcliffe Report, and to take stock of the progress made in UK monetary economics since its publication. The Hove meeting pointed to the need for more frequent meetings among monetary economists. It was from that event that the Money Study Group was born, with a key objective of promoting research into monetary economics in the United Kingdom. Not surprisingly, in 1970 it published its first major book of readings in British monetary economics (Croome, D. R. and H. G. Johnson, (eds.), Money in Britain 1959-1969, Oxford University Press, Oxford, 1970) following a relevant conference. Ever since the pattern that was established has been followed: a number of publications have been produced from the proceedings of special events, annual conferences and seminars in the areas of the group’s interests. The phenomenal developments in the area dictated the change in its name to Money, Macro and Finance Research Group in 1991.

From its inception, the Group has been very active:

  • It has held a significant number of major conferences;
  • It has held special seminars in honour of its important members;
  • Frequent one day workshop meetings have been organised around research topics that were emerging as promising and important;
  • It organises Annual Conference; it is now in its 38th year having travelled the length and breadth of the United Kingdom and, most recently, outside of the UK for the first time in Crete. It is, we believe, the largest conference of its type in Europe. A list of the invited speakers gives a picture of the strength of the conference (link to list);
  • An annual Special Issue of the Manchester School has been published since 1990 containing a subset of papers presented at the Annual Conference including papers by our distinguished guest speakers;
  • A number of special issues of journals based on conferences and seminars have been published including Manchester School (Beyond Inflation Targeting, 70(4), 2002; Transparency in Monetary Policy, 71(5), 2003);
  • It has developed links with equivalent research groups in Europe including the French GdR Monnaie et Financement Research Group and the international SUERF (Société Universitaire Européene de Recherches Finançières) and the UK-based Society of Business Economists;
  • The current membership is over 400.

The Group is now firmly established in the profession. The breath of its interests and the wide range of its membership distinguish the MMF. It promotes discussion of new ideas and provides a facility by which academics; researchers, policy makers (especially from the Bank of England and the Treasury) and practitioners in the City can meet and debate issues of current importance. The Group provides the principal open forum for serious broad-based discussion of macro, finance and monetary economics on a regular basis in the UK.

MMF Annual Conference Invited Speakers

1990 Niels Thygesen Copenhagen University and a member of ‘Delors Committee’ on EMU
1991 Charles Goodhart
Christian de Boisseau
London School of Economics
Paris I
1992 Paul Krugman
Stanley Fischer
Massachusetts Institute of Technology
Massachusetts Institute of Technology
1993 David Laidler
Rick Mishkin
University of Western Ontario
Graduate School of Business , New York
1994 Robert Shiller
Mervyn King
Yale University and Cowles Foundation
Executive Director, Bank of England
1995 Finn Kydland
Stephen Ross
University of Texas (Austin)
Yale University
1996 Howard Davies
Robert Engle
Deputy Governor of Bank of England
University of California , San Diego
1997 John Taylor
Andrew Crochett
Stanford University
Bank for International Settlements
1998 Michael Woodford
Alan Budd
Princeton University
Monetary Policy Committee
1999 Kenneth Singleton
John Vickers
Peter Kenen
Stanford University
Bank of England
Princeton University
2000 Joseph Stiglitz
David Clementi
Columbia University
Bank of England
2001 Charles Engel
Martin Hellwig
University of Wisconsin
University of Mannheim
2002 Alan Taylor
Marco Pagano
University of California ,
Davis University of Salerno
2003 William Brock
VV Chari
Robert King
University of Wisconsin
University of Minnesota
Boston University
2004 Michael Brennan
David Hirschliefer
Raman Uppal
University of California ,
Los Angeles Ohio State University
London Business School
2005 George Constantinides
Hashem Pesaran
University of Chicago
University of Cambridge
2006 Matthew Canzoneri
Deborah Lucas
Salih Neftci
Georgetown University
Northwestern University
City University New York
2007 Eric Berglof
David Hendry
Ross Levin
Athanasios Orphanides
European Bank for Reconstruction and Development
Oxford University
Brown University
Central Bank of Cyprus
2008 Michael Deveraux
George Evans
Paul Tucker
University of British Columbia
University of Oregon
Bank of England
2009 Claudio Borio
Alan Morrison
Glenn Rudebusch
Bank for International Settlements
Oxford University
San Francisco Federal Reserve Bank
2010 Charles Calomiris
Marcus Miller
Columbia University
University of Warwick
2011 Jean-Bernard Chatelain
Michael Foot
Giancarlo Corsetti
University of Paris
Promontory Finance Group
University of Cambridge