Professor S. Hall

PositionProfessor Stephen G. Hall

Professor of Economics

Key Areas of Research

Econometrics, Macroeconomics.

 

What attracted you to Economics as a subject and where did you begin your studies and early research work?

Initially, my interest in the subject was purely a reaction to the other choices available. Nothing in particular attracted me to Economics, but after successfully retaking it at A-Levels, I went on-to study it at an undergraduate level.

Were you inspired to build a career in Economics by anything in particular?

My father wanted me to work for his business, but during my time at City University London I realised how good the academics had it, and how appealing that life was.

I pursued further study, completing my MSc at the London School of Economics. This is where the subject became interesting, as I learnt what Economics was really all about, and so I stayed on to do my PhD which was more focused on Macroeconomics. This area was more appealing to me than Microeconomics, as it has a greater relevance to policies and the actions implemented by governments.

What was your initial area of research and why were you particularly interested in this area?

I worked for the National Institute of Economic and Social Research.  This is one of the largest forecasting organisations in Britain, independent but linked to the government.  I found that I had a proclivity for certain aspects of econometrics, and as it was an academic research institute, it was possible to produce a lot of publications in econometric techniques and macroeconomics. As a result, this area of macroeconomics became my forte, and my main area of research in terms of both policy and techniques.

Apart from the lack of students, this experience was similar to being a university teacher. Being involved with policy makers and advising policy makers was a great experience on the whole.

What was/is your latest research and how if possible does it apply to everyday life?

Throughout my career, one of my main focusses has been the development of methodologies in econometrics. I was one of the founders of Cointegration, a technique widely used by econometricians everywhere.

I have applied these techniques numerous times throughout my career, such as when I was working for the Bank of England, and even now when I advise and work with the United Nations. This work and advice tend to principally be orientated around Macroeconomic modelling and policies.

What I’ve been doing recently is developing a methodology which allows you to estimate parameters in a consistent way even when you have the wrong model, omitted variables and measurement error.

What attracted you to the University of Leicester?

At the University of Leicester, I had the potential to cultivate my own professional development.  The Department of Economics also had an improving academic reputation. This coupled with the fact that I had a few connections within Leicester, inspired me to become part of the University.

If you were asked by a prospective student wondering why study economics what would your answer be?

Two reasons come to mind. Firstly, Economics is inherently an important subject. If you want to do something in the world which is actually useful and results in policy changes, then Economics offers you that. Secondly it opens the door to a plethora of career prospects, by studying Economics there are a wide range of areas and jobs that you can go into.

Fun Fact about yourself: (e.g. Favourite football team, hobbies, favourite foods etc.)

  • Connoisseur of red wine!

 

For further information on Stephen, including research papers, please click here.

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