Centre for Finance, Credit and Macroeconomics (CFCM)

Welcome to CFCM

The Centre for Finance, Credit and Macroeconomics (CFCM) is a research centre focusing on financial markets, macro-economic cycles, consumer and corporate credit, based in the School of Economics at The University of Nottingham.

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).

Centre for Finance, Credit and Macroeconomics

CFCM research focuses on the operation of financial markets, monetary policy, household and corporate finance and macro-economic 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).

Latest news

ESRC research grant success

Professor Paul Mizen from the School of Economics has been awarded £1.1million from the ESRC to look into the quality of management practices across UK businesses.
18 January 2019


Edinburgh / Nottingham Joint Macro PhD Workshop

09 December 2021 (13:00-16:30)
C43 Sir Clive Granger, Zoom

CFCM Seminar: Jasmine Xiao (University of Notre Dame)

17 February 2022 (14:00-15:15)

CFCM Seminar: Aysegul Sahin (University of Texas at Austin)

24 February 2022 (14:00-15:15)

View a full list of our forthcoming seminars

Discussion papers

CFCM 21/03: Potential output, the Taylor Rule and the Fed

Omar Licandro and Francesca Vinci

CFCM 21/02: Commodity prices and banking crises

Markus Eberhardt and Andrea F. Presbitero

CFCM 21/01: Misallocation and inequality

Nezih Guner and Alessandro Ruggieri

 View a full list of our discussion papers



Centre for Finance, Credit and Macroeconomics

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

Enquiries: hilary.hughes@nottingham.ac.uk