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Andrew Benito

Goldman Sachs, UK, and IZA, Germany

IZA World of Labor role

Author

Current position

Senior European Economist, Goldman Sachs, UK

Research interest

Housing markets, monetary policy, consumption, Spanish labor market, corporate behavior

Positions/functions as a policy advisor

Research Manager, Bank of England, 2008–2011; Visiting Scholar, International Monetary Fund, 2006–2008; Senior Economist, Banco de Espana, 2002–2003

Past positions

Research Associate, University of Warwick Economics Department, 1995–1997; Research Fellow, Warwick Business School, 1994–1995

Qualifications

PhD Economics, University of Warwick, 1997

Selected publications

  • “Labour supply as a buffer: Evidence from UK households.” Economica 80 (2013): 698–720 (with J. Saleheen).

  • “Excess sensitivity, liquidity constraints and the collateral role of housing.” Macroeconomic Dynamics 13 (2009): 305–326 (with H. Mumtaz).

  • “Who withdraws housing equity and why?” Economica 76 (2009): 51–70.

  • “Labour demand, flexible contracts and financial factors.” Oxford Bulletin of Economics and Statistics 70 (2008): 283–301 (with I. Hernando).

article(s)

  • How does monetary policy affect labor demand and labor productivity?

    Monetary policy easing initially supports labor demand, but persistent easing may slow down necessary restructuring and productivity growth

    Andrew Benito, July 2017
    By supporting aggregate demand, including by easing financial constraints that affect businesses and house­holds, accommodative monetary policy increased employment during the 2008 financial crisis and its aftermath. But, monetary policies that ease financial pressures also reduce necessary restructuring that normally contributes to productivity growth. One reason why productivity growth has been weaker in the aftermath of the crisis is that aggressive monetary policy actions have weakened underlying supply-side performance and labor productivity.
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