Centre for Finance, Credit and Macroeconomics (CFCM)

Welcome to CFCM

CFCM is a research centre focusing on financial markets, macroeconomic cycles, consumer and corporate credit. Based in the University of Nottingham School of Economics.

CFCM receives external funding from the UK government (BERR), research councils (ESRC), the private sector (Experian, Fitch Ratings) and charities (Nuffield Foundation, the British Academy). CFCM research focuses on the operation of financial markets, monetary policy, household and corporate finance and macroeconomic dynamics. The centre specialises in the analysis of high frequency data from markets, households and firms to understand indebtedness and financial distress.

The centre also investigates the transmission mechanisms of monetary policy through credit channels, exploring the behaviour of corporations and households when credit is constrained, and the effect of credit on house prices and business cycles. 

CFCM has formed close research links with a number of similar research institutions (Institute for Fiscal Studies, EUI Finance and Consumption) and central banks (Bank of England, European Central Bank, Federal Reserve).






CFCM Seminar Michael McMahon (Warwick)

Title and location to be confirmed

CFCM Seminar Ivan Jaccard (ECB)

Title and location to be confirmed

CFCM Seminar Spiros Bougheas (Nottingham)

Title and location to be confirmed

CFCM Seminar Marco Bassetto (UCL)

Title and location to be confirmed

You can also view details of our previous seminars/ events.


Our next conference will take place from 13 to 14 November 2014.  A 'call for papers' has been issued with a closing date of 30 September 2014.

Our last conference was entitled 'Liquidity Management, Institutions and the Macro-economy’ and was held on 9 May 2014. 


Credit Constraints and Spillovers from Foreign Firms in China by Natasha Agarwal, Chris Milner and Alejandro Riaño

Forecasting Global Recessions in a GVAR Model of Actual and Expected Output in the G7 by Anthony Garratt, Kevin Lee and Kalvinder Shields

Firm Dynamics and Residual Inequality in Open Economies by Gabriel Felbermayr, Giammario Impullitti and Julien Prat

Complex Financial Networks and Systemic Risk: A Review by Spiros Bougheas and Alan Kirman

Macroprudential Policy Implementation in a Heterogeneous Monetary Union by Margarita Rubio 


Centre for Finance, Credit and Macroeconomics

The Sir Clive Granger Building
The University of Nottingham, University Park
Nottingham NG7 2RD

Tel: +44 (0) 115 951 5620
Fax: +44 (0) 115 951 4159
Email: economics-enquiries@nottingham.ac.uk