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Research Interests

Macroeconomic modelling, optimal policy and formulation.

Recent Publications

Published Papers

Bhattacharjee, A., Holly, S. and Mur, J. Contemporary developments in the theory and practice of spatial econometrics, (2018) Spatial Economic Analysis
Bailey, N., Holly, S. and Pesaran, M.H. A two-stage approach to spatio-temporal analysis with strong and weak cross-sectional dependence, (2016) Journal of Applied Econometrics
Bhattacharjee, A. and Holly, S. Influence, interactions and heterogeneity: taking personalities out of monetary policy decision-making, (2015) Manchester School
Chadha, J.S., Corrado, L. and Holly, S. A note on money and the conduct of monetary policy, (2014) Macroeconomic Dynamics
Holly, S., Petrella, I. and Santoro, E. Aggregate fluctuations and the cross-sectional dynamics of firm growth, (2013) Journal of the Royal Statistical Society: Series A

Cambridge Working Papers in Economics

Bhattacharjee, A., Ditzen, J. and Holly, S. Spatial and Spatio-temporal Engle-Granger representations, Networks and Common Correlated Effects, (2020) CWPE2075
Devonald, L., Higson, C., Holly, S. Aggregate and Firm level volatility: the role of acquisitions and disposals., (2017) CWPE1748
Bhattacharjee, A., Higson, C. and Holly, S. Operating Leverage over the Business Cycle, (2015) CWPE1535
Bailey, N., Holly, S. and Pesaran, H. A Two Stage Approach to Spatiotemporal Analysis with Strong and weak cross Sectional Dependence , (2013) CWPE1362
Chadha, J. S., Corrado, L. and Holly, S. A Note on Money and the Conduct of Monetary Policy, (2013) CWPE1329

Recent Activities

52nd MMF Annual Conference - Publication Date: 2020-07-23
The Money Macro and Finance Research Group will hold their 52nd Annual Conference of the Money, Macro and Finance Society on 1st - 3rd September 2021, at Clare College, Cambridge. More details of this event can be found on the MMF Conference website.
Call for Papers - Deadline 15th May 2020 - Publication Date: 2020-02-25
Paper proposals are invited for the 51st Annual Conference of the Money Macro and Finance Society, from academic, government and business economists in any area of monetary, macro and financial economics. The conference will be held at Clare College, Cambridge, on 1st-3rd September 2020. The deadline for this call is 15th May 2020.
National Institute for Economic and Social Research - Publication Date: 2018-11-09
Dr. Ha-Joon Chang and Dr. Sean Holly have both been appointed a Governors of the National Institute for Economic and Social Research for a five year term. The NIESR is Britain's longest established independent research institute, founded in 1938.

Research Grants

Cross Section Dependence In Panel Data Models (Economic and Social Research Council (ESRC))
Citigroup Phd Studentships In Inflation Studies (CITI Group)
Eumicro: The Microeconomics Of Growth Across Regions In Europe (European Commission (FP6))
Finess: Financial Systems, Efficiency And Stimulation Of Sustainable Growth (European Commission (FP7))
Marie Curie Intra-European Fellowship For Dr Luisa Corrado: Regional Convergence Clusters Across Europe: Methodological Issues And Empirical Evidence (Eurecon) (European Commission (FP6))
Dynamic Panel Analysis Of Interactions And Nonlinearities (Economic and Social Research Council (ESRC))
Profitability, Acquisition And Failure Of Uk Quoted Companies Over The Business Cycle (KPMG)
Fw5 Network: European Forecasting Network (European Commission (FW5))

Keynes Fund Sponsored Projects

Holly, S., Aggregate and Firm Level Volatility (JHOI)


PIIB Paper 2 - Michaelmas - Macroeconomic Policy
Diploma - Macroeconomics

PhD Students


Alfie Lake
PhD Title: Empirical Analyses of Housing Cycles and Macroeconomics
Research: Housing Cycles, Behavioural Macroeconomics and Finance, Macroeconometrics

Dr Sean Holly

University Reader,
Faculty of Economics
President, Dean and Professorial Fellow, Fitzwilliam College

Research Group:

Contact Details
Room: 77
College: Professorial Fellow, Fitzwilliam College