Professor Kaushik Mitra

Professor Kaushik Mitra

The Department of Economics
Chair in Economics

Contact details

Department of Economics
University of Birmingham
JG Smith Building
B15 2TT

Professor Mitra has research interests in Macro and Monetary Economics and is one of the research leaders in the field of adaptive learning in macroeconomics. 


  • Doctor of Philosophy (Economics), 1997, Cornell University.
  • Master of Arts (Economics), 1993, Cornell University.
  • Master of Science (Economics), 1991, University of Calcutta.
  • Bachelor of Science (Economics), 1989, University of Calcutta.


Professor Mitra did his BSc and MSc at the University of Calcutta before obtaining his PhD from Cornell University. He was previously a lecturer in the University of York and Professor at Royal Holloway College, University of London, and at the University of St Andrews. He is an Associate Editor of Macroeconomic Dynamics and a member of the Economic and Social Research Council (ESRC) Peer Review College. He was the Director of the Centre for Dynamic Macroeconomic Analysis, University of St Andrews, before joining Birmingham.

Postgraduate supervision

Professor Mitra is available to supervise PhD students across a broad range of theoretical topics in macro and monetary economics. Potential students should have a solid background in macroeconomic theory.

Current Phd student - Hasiando Manik. 


Research interests: Macro and Monetary Economics

Other activities

Associate Editor, Macroeconomic Dynamics.

Economic and Social Research Council (ESRC) Peer Review College Member since January 2013.

Associate Fellow, The International Network on Expectational Coordination.

Member of the Programme Committee of the Annual Royal Economic Society Conferences in Cambridge and Royal Holloway, 2012 and 2013, and of the 18th European Economic Association Annual Congress, Stockholm, August 20-24, 2003.

Organizer of the CDMA conference “Expectations in Dynamic Macroeconomic Models” held in the University of St Andrews during August 31-September 2, 2011.

Visiting Scholar at the Bank of Finland, Finland, April-October, 2001.

Visiting Scholar at the Federal Reserve Bank of St. Louis, U.S.A., September 29-October 10, 2000.

Visiting Scholar at Washington University, St. Louis, U.S.A., April-June 1999.


“Long-Run Growth Uncertainty” (with Pei Kuang), Journal of Monetary Economics, 79, 67-80, 2016.

“Comparing Inflation and Price Level Targeting: the Role of Forward Guidance and Transparency” (with Seppo Honkapohja), TheManchester School, 83, 27-59, 2015.

“Policy Change and Learning in the Real Business Cycle Model” (with George Evans and Seppo Honkapohja), Journal of Economic Dynamics and Control, 37, 1947-1971, 2013, lead article.

“E-stability in the Stochastic Ramsey Model” (with George Evans), Economics Letters, 118, 407-410, 2013.

“Does Ricardian Equivalence Hold When Expectations Are Not Rational?” (with George W. Evans and Seppo Honkapohja), Journal of Money, Credit, and Banking, 44, 1259-1283, 2012, lead article.

“Anticipated Fiscal Policy and Adaptive Learning” (with George Evans and Seppo Honkapohja), Journal of Monetary Economics, 56, 930-953, 2009.

“Determinacy, Learnability, and Monetary Policy Inertia” (with James Bullard), the Journal of Money, Credit, and Banking, 35, 1177-1212 , 2007.

“Learning Stability in Economies with Heterogenous Agents” (with Seppo Honkapohja), Review of Economic Dynamics, 9, 284-309 ,2006.

“Performance of Inflation Targeting Based on Constant Interest Rate Projections” (with Seppo Honkapohja), Journal of Economic Dynamics and Control, 29, 1867-1892, 2005.

“Performance of Monetary Policy with Internal Central Bank Forecasting” (with Seppo Honkapohja), Journal of Economic Dynamics and Control, 29, 627-658, 2005.

“Is more data better?” Journal of Economic Behavior and Organization, 56, 263-272, 2005.

“Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy?” (with Seppo Honkapohja), Journal of Monetary Economics, 51, 1743-1770, 2004.

“Desirability of Nominal GDP Targeting Under Adaptive Learning” Journal of Money, Credit, and Banking, 35, 197-220, 2003.

“Learning with Bounded Memory in Stochastic Models” (with Seppo Honkapohja), Journal of Economic Dynamics and Control, 27, 1437-1457, 2003.  

“Learning about Monetary Policy Rules” (with James Bullard), Journal of Monetary Economics, 49, 1105-1129, 2002, lead article. [article cited 165 times to date in the Scopus bibliographic database for academic journal articles; 23 times in 2013].

“On Capital Accumulation Paths in a Neoclassical Stochastic Growth Model,” Economic Theory 11, 457-464, 1998.


“Notes on Agents’ Behavioral Rules Under Adaptive Learning” (with George W. Evans and Seppo Honkapohja), Macroeconomics at the Service of Public Policy (edited by Nobel Laureate Thomas Sargent and Jouko Vilmunen) in Honour of Seppo Honkaopohja’s 60th Birthday, Oxford University Press, 2013. 

“Learning of Steady States in Nonlinear Models when Shocks follow a Markov chain”  (with Seppo Honkapohja), in Schultz and Vind (eds), Institutions, Equilibria, and Efficiency: Essays in Honour of Birgit Grodal, Springer-Verlag, Berlin, 2006. 

“Monetary Policy with Internal Central Bank Forecasting. A Case of Heterogenous Information” (with Seppo Honkapohja) in From National Gain to Global Markets, Essays in Honour of Paavo Okko on His 60th Birthday". Edited by Mika Widgren, 2004. 

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