Academic Page


In addition to editorial involvement with the Review of Economic Studies, the Journal of Industrial Economics and the Controversies section in The Economic Journal, I have authored more than sixty papers in research journals and books. My research areas include the macroeconomics of imperfect competition, oligopoly theory, learning and bounded rationality. I have been a member of the Council of the Royal Economic Society and the CEPR, and am currently a member of the CESifo network. I received my PhD from Oxford University in 1985 under the supervision of Nobel Laureate Sir James Mirrlees, and was a Professor at York from 1992 until I came to Cardiff in 2006.

Academic page

   Huw D Dixon

   Professor of Economics

   Office: R11a

   Cardiff Business School.

   Aberconway Building,

   Colum Drive,

   Cardiff, CF10 3EU

   Telephone: +44 (0)29 2087 5733

   Fax: +44 (0)29 2087 4419

   Email: DixonH at cardiff-ac-uk

  Orcid ID: 0000-0002-9875-8965

   Scopus ID: 7101709262


(for a full list of publications go to RePEc)

and Paulo Brito “Fiscal policy, entry and capital accumulation: hump-shaped responses", Journal of Economic Dynamics and Control, Volume 37, Issue 10, October 2013, Pages 2123–2155.

and Engin Kara (2010) Can We Explain Inflation Persistence in a Way that Is Consistent with the Microevidence on Nominal Rigidity? Journal of Money, Credit and Banking, (42) 151-170.

and Engin Kara (2006), "How to Compare Taylor and Calvo Contracts: A Comment on Michael Kiley", (Abstract) . Journal of Money, Credit and Banking, 38, 1119-1126.

and Javier Coto-Martinez. "Profits, Markups and Entry: Fiscal Policy in an Open Economy", Journal of economic dynamics and control , 2003, 27, 573-597.

and Bipasa Datta. "Technological change, entry and stock market dynamics: an analysis of transition in a monopolistic economy", American Economic Review, Papers and Proceedings, 2002, 92, 231-235.

"Keeping up with the Joneses: Competition and the evolution of collusion",. Journal of Economic Behavior and Organization, 2000, 43, 223-238.

and Aloi M and Lloyd-Braga T. "Endogenous Fluctuations in an open economy with increasing returns to scale", Journal of Economic Dynamics and Control , 2000, 24, 97-125.

and Neil Rankin. "Imperfect competition and macroeconomics: a survey", Oxford Economic Papers , 1994, 46, 171-199.

"Unions, oligopoly, and the Natural Range of employment", Economic Journal , 1988, 98, 1127-1147.

"Approximate Bertrand equilibria in a replicated industry", Review of Economic Studies , 1987, LIV, 47-62.

Recent Discussion Papers - All PDF Downloadable

Diego Solórzano an Huw Dixon (2021): The Relationship Between Nominal Wage and Price Flexibility: New Evidence. 

Banco de México, orking Papers, N° 2020-20.

Huw Dixon (2020), The measurement of inflation during the lockdown: a trial calculation, National Institute of Economic and Social Research Policy Paper 16.

Huw Dixon and Christian Grimme (2019), State-Dependent or Time-Dependent Pricing? New Evidence from a Monthly
Firm-Level Survey: 1980-2017. CESifo working paper 7842.

Huw Dixon, H., Easaw, J. and Heravi, S. (2019). Forecasting inflation gap persistence: do financial sector professionals differ from non-financial sector ones?   International Journal of Finance and Economics. DOI: 10.1002/ijfe.1762

Huw Dixon (2019),  Almost‐Maximization as a Behavioral Theory of the Firm: Static, Dynamic and Evolutionary Perspectives. Online appendix. Review of Industrial Organization

Marta Aloi, Huw Dixon and Anthony Savagar, (2018), "Labour responses, regulation and business churn in a small open economy", Centre for Finance, Credit and Macroeconomics, Nottingham University,working paper 18/06. Forthcoming Journal of Money Credit and Banking. Preprint version.

Huw Dixon and Peng Zhou (2018) "The Determinants of Price Rigidity in the UK: Analysis of the CPI and PPI Microdata and Application to Macrodata Modelling", Cardiff Economics Working PapersE2018/18. The Manchester School, Online 11 November 2018, 5

Kishan Rana, Huw Dixon, Tim Marshall and Rhys Lewis, Stock weighted house price index, Emgland and Wales: 1995 to 2015 preliminary estimates. ONS, release date 20th Febrary 2018.

Anthony Savagar and Huw Dixon (2019), Firm entry, Excess Capacity and Aggregate Productivity. Cardiff Economics Working Paper E2017_8.  European Economic Review,

Huw Dixon, James Mirrlees (1936-), The Palgrave companion to Cambridge Economics, (Editor Robert Cord) Volume 2, pages 1079-1094).

Paulo Brito, Luis Costa and Huw Dixon (2016), From Sunspots to Black Holes: Singular Dynamics in Macroeconomic Models, Cardiff Economics Working Papers E2016/6. Published as Chapter 2 (pages 41-70) in Sunspots and Non-Linear Dynamics: Essays in Honor of Jean-Michel Grandmont, Edited by Nishimura, Venditti and Yannelis. Springer.

Yan, Ji, Kun Tian, Huw D. Dixon, Saeed Heravi and Peter Morgan (2014) "Shop Around and You Pay More", CESifo Working Paper No. 4940, August 2014 | Abstract | Press Comment from The Economist |

Huw Dixon, Kul Luintel and Kun Tian (2014): The Impact of the 2008 Crisis on UK Prices: What We Can Learn from the CPI

Microdata, Cardiff Economics Working Paper E2014_7. Published in Oxford Bulletin of Economics and Statistics, July 2020,

doi: 10.1111/obes.12373. (Open access version).

Huw Dixon, Jeremy Franklin and Stephen Millard (2014): Sectoral shocks and monetary policy in the United Kingdom, Bank of England Working Paper 499.

Huw Dixon, Jonathan Seaton & Michael Waterson, 2014. "Price Flexibility In British Supermarkets: Moderation And Recession," Warwick Economics Research Papers in Economics 1041.

Dixon, Huw & Tian, Kun, 2013. "What we can learn about the behavior of firms from the average monthly frequency of price-changes: an application to the UK CPI data," Cardiff Economics Working Papers E2013/1, Cardiff University, Cardiff Business School, Economics SectionPublished in Oxford Bulletin of Economics and Statistics, 2017.

Paulo Brito and Huw Dixon (2012): Fiscal policy, entry and capital accumulation: hump-shaped responses, Cardiff Economics Working Paper E2012/07. Published in Journal of Economic Dynamics and Control, Volume 37, Issue 10, October 2013, Pages 2123–2155.

Paulo Brito & Bipasa Datta & Huw Dixon, 2011.  "The evolution of mixed conjectures in the rent-extraction game",  Discussion Papers 11/06, Department of Economics, University of York.

Huw Dixon & Engin Kara, 2011. "Taking Multi-Sector Dynamic General Equilibrium Models to the Data," Bristol Economics Discussion Papers 11/621, Department of Economics, University of Bristol, UK.

Huw Dixon and Herve LeBihan (2010) "Generalized Taylor and Generalized Calvo Price and Wage-Setting: Micro Evidence with Macro Implications", July, CESifo working paper 3119. Published Economic Journal, vol. 122, pages 532-554, May (2012)


Luís F. Costa and Huw Dixon (2011): "Fiscal Policy under Imperfect Competition with Flexible Prices: An Overview and Survey", Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon Working Paper 2009/25, published in Economics: The Open-Access, Open-Assessment E-Journal, Vol. 5, 2011-3. doi:10.5018/economics-ejournal.ja.2011-3

Huw Dixon and Panayiotis M. Pourpourides (2010) "General Equilibrium with Monopolistic Firms and Occasionally Binding Cash-in-Advance Constraints",  Cardiff Economics working paper 2010/6. Journal of Macroeconomics, 2016, vol. 50,

pages 72-85.

Huw Dixon (2009): "A unified framework for understanding and comparing dynamic wage and price setting models", Cardiff Economics Working Paper 2009/20,   Published The B.E. Journal of Macroeconomics: Vol. 12: Issue 1 (Contributions), Article 22. (2012).

Huw Dixon and Luigi Siciliani (2009): "Waiting Time Targets in Healthcare Markets: How Long Are We Waiting?", University of York Discussion Papers in Economics 09/05, Journal of Health Economics, 28, 1081-1098.

Paulo Brito, Luís F. Costa and Huw Dixon (2008): "Non-smooth Dynamics and Multiple Equilibria in a Cournot-Ramsey Model with Endogenous Markups", Cardiff Economics Working Paper 2008/21, September paper.  Published, Journal of Economic Dynamics and Control,  Volume 37, Issue 11, November 2013, Pages 2287–2306.

Huw Dixon (2007): "New Keynesian macroeconomics: Entry For New Palgrave Dictionary of Economics, 2nd Edition", paper

ORCID ID: 0000-0002-9875-8965;  Scopus ID: 7101709262.

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ORCID ID: 0000-0002-9875-8965;  Scopus ID: 7101709262.