Juan Paez-FarrellJuan Paez-Farrell

Lecturer in Economics

Room 534
9 Mappin Street
S1 4DT, UK

Tel: (+44) (0)114 222 3417
Fax +44 (0)114 222 3458

Email: j.paez-farrell@sheffield.ac.uk


Juan graduated from the University of Liverpool in 1994, where he also gained his MA in Economics. He completed his PhD from the University of Cardiff in 2002. He began his academic career in 2001 as lecturer in economics at the University of Hull. He has held academic posts at the universities of Cardiff and Loughborough and has also taught in Hong Kong and Singapore. Juan joined the University of Sheffield in August 2013.


Juan currently teaches ECN324 Monetary Economics and ECN6660 Monetary Economics and Dynamic Optimisation. Monetary economics studies the relationships between real economic variables (such as GDP and unemployment) and nominal variables (such as inflation and nominal interest rates). His teaching covers both theory and applications, focusing on insights from the latest economics research as well as issues related to monetary policy. To this end, many of the models he uses are based on microeconomic foundations to ensure consistency between macro and microeconomics. 

Research summary

Juan's research interests are in the areas of macroeconomics and monetary economics, especially business cycles. His recent research focuses on:

  • determinants of the sacrifice ratio in the OECD economies
  • analysing the behaviour of central banks when setting interest rates
  • exploring whether central banks are concerned about exchange rate stabilisation 

Selected publications since 2008

Papers are available from http://ideas.repec.org/e/ppa108.html                        

Chevapatrakul, T. and Paez-Farrell, J. (2014), Monetary Policy Reaction Functions in Small Open Economies: a Quantile Regression Approach. The Manchester School, 82: 237–256. doi: 10.1111/manc.12014

Paez-Farrell, J, 'Resuscitating the ad hoc loss function for monetary policy analysis', Economics Letters, Volume 123, Issue 3, June 2014, Pages 313-317,

Glass, A; Kenjegalieva, K; Paez-Farrell, J, 'Productivity growth decomposition using a spatial autoregressive frontier model', Economics Letters (2013)

Chevapatrakul, T; Paez-Farrell, J, 'What determines the sacrifice ratio? A quantile regression approach', Economics Bulletin 33:3 (2013), pp1863-74

Paez-Farrell, J, 'Should central bankers discount the future? A note', Economics Letters, Elsevier, vol. 114(1) (2012): pp20-22

Paez-Farrell, J, 'Timeless perspective versus discretionary policymaking when the degree of inflation persistence is unknown', Economic Modelling 28:6 (2011), pp2432-38

Paez-Farrell, J, 'Monetary policy rules in theory and in practice: evidence from the UK and the US', Applied Economics 41:16 (2009), pp2037-46