Josh is Head of Finance and Macroeconomics and Senior Research Fellow at IIPP. He is an economist with interests in money and banking, the economics of land, housing, and sustainable finance.
Josh’s work on the interaction between the financial sector and housing markets - featured in his book, Why Can't you Afford a Home (Polity 2018) - has received international press coverage and led to invitations to provide guest lectures and advisory work from governments, public agencies, academics and civil society groups across the world. His co-authored book 'Rethinking the Economics of Land and Housing' (2017, Zed books) was included in the Financial Times’ top 12 economics books of 2017. He also held a visiting scholarship at the University of Sydney examining the Australian housing market.
Josh's other main field of interest is in the role of central banks and financial supervisors in supporting environmental sustainability goals. He has given evidence to the European Parliament and central banks on these topics alongside a series of papers promoting the idea of 'precautionary policy' framework to legitimize a more interventionist forms of regulation.
Josh was previously Senior Economist and Head of the Finance program with the New Economics Foundation (NEF), one of the UK’s leading progressive think tanks. He was also a founding member of the Brixton Pound local currency and is a council member of the Progressive Economy Forum. He has a Ph.D. in finance and economics from the University of Southampton Business School.
Josh’s research takes a cross-disciplinary approach, combining macroeconomics, economic history, sociology (his undergraduate training) and political economy. He uses both quantitative and qualitative methodologies and draws on institutional, post-keynesian and evolutionary economics traditions.
He has a particular interest in credit and land, two concepts that have been badly neglected in conventional economics but which, because of their unique properties, play a vital role in shaping the trajectory of capitalist economies. One important strand of his research examines how central banks and financial regulation can better support wider policy objectives, including the transition to a more sustainable and equitable economy, via directing credit and via closer coordination between monetary, fiscal and industrial policy frameworks.
A related research stream focusses on rethinking the concept of ‘economic rent' and the development of policies to reduce its occurrence. This applies to land and finance but also to other fields including big tech ‘platform’ companies and innovation more generally.
Josh also contributes to IIPP’s research around rethinking public value and the evaluation of public policy beyond conventional economic approaches. His more applied policy work has included reports on ‘public wealth funds’, the macroeconomic implications of innovation spend, alternatives to ‘quantitative easing’ and financial system resilience.
To view all publications, visit Josh Ryan-Collins' UCL profile.
- Ryan-Collins, J. (2018) Why Can’t you afford a Home?, Polity Press: London
- Ryan-Collins, J., Lloyd, T. and Macfarlane, L., (2017) Rethinking the economics of land and housing, Zed books: London
- Ryan-Collins, J , Greenham, T, Werner, R. and Jackson, D., (2011) Where does money come from? A guide to the UK Monetary and Banking system, NEF: London, 2nd edition, 2012
- Journal articles (peer reviewed)
- Ryan-Collins, J. (2019). Breaking the housing–finance cycle: Macroeconomic policy reforms for more affordable homes. Environment and Planning A: Economy and Space, 0308518X19862811.
- Campiglio, E., Dafermos, Y., Monnin, P., Ryan-Collins, J., Schotten, G., & Tanaka, M. (2018). Climate change challenges for central banks and financial regulators. Nature Climate Change, 8(6), 462.
- Ryan-Collins, J. (2017) “Breaking the taboo: a history of monetary financing in Canada, 1930–1975”, British Journal of Sociology, Vol. 68, Issue 4, Dec 2017
- Ryan-Collins, J., Werner, R.A., and Castle, J. (2016) "A half-century diversion of monetary policy? An empirical horse-race to identify the UK variable most likely to deliver the desired nominal GDP growth rate." Journal of International Financial Markets, Institutions and Money, vol 43, July 2016, pp158-176
- Ryan-Collins, J. and Greenham, T., (2013) “Rethinking the Role of the Economy and Financial Markets”, Journal of Civil Society, 16 May.
- Academic working papers
- Kedward, K., Ryan-Collins, J. and Chenet, H. (2020). Managing nature-related financial risks: a precautionary policy approach for central banks and financial supervisors. UCL Institute for Innovation and Public Purpose, Working Paper Series (IIPP WP 2020-09). Available at: https://www.ucl.ac.uk/bartlett/public-purpose/wp2020-09
- Ryan-Collins, J. and Murray, C. (2020). When homes earn more than jobs: the rentierization of the Australian housing market. UCL Institute for Innovation and Public Purpose, Working Paper Series (IIPP WP 2020-08). Available at: https://www.ucl.ac.uk/bartlett/public-purpose/wp2020-08
- Chenet, H., Ryan-Collins, J. and van Lerven, F. (2019). Climate-related financial policy in a world of radical uncertainty: Towards a precautionary approach. UCL Institute for Innovation and Public Purpose, Working Paper Series (IIPP WP 2019-13). Available at: https://www.ucl.ac.uk/bartlett/public-purpose/wp2019-13
- Bezemer, D., Ryan-Collins, J., van Lerven, F., & Zhang, L. (2018). Credit where it’s due: A historical, theoretical and empirical review., IIPP Working Paper, no. 2018-11, https://www.ucl.ac.uk/bartlett/public-purpose/publications/2018/nov/credit-where-its-due
- Ryan-Collins, J., & Van Lerven, F. (2018). Bringing the helicopter to ground: a historical review of fiscal-monetary coordination to support economic growth in the 20th century, IIPP Working Paper, no. 2018-08, https://www.ucl.ac.uk/bartlett/public-purpose/node/887/
- Kattel, R., Mazzucato, M., Ryan-Collins, J., Sharpe, S. (2018). The economics of change: Policy appraisal for missions, market shaping and public, IIPP Working Paper, no. 2018-06. https://www.ucl.ac.uk/bartlett/public-purpose/wp2018-06
- Bjerg, Ole and McCann, Duncan and Macfarlane, Laurie and Nielsen, Rasmus Hougaard (2017) ‘Seigniorage in the 21st Century: A Study of the Profits from Money Creation in the United Kingdom and Denmark’, Copenhagen Business School Working Paper, vol. January 2017
- 'Is Monetary Financing Inflationary? A Case Study of the Canadian Economy, 1935–75', (2015) Levy Institute Working Paper, No. 84
- Bernardo and Werner, R (2013) "UK QE reconsidered: the real economy effects of monetary policy in the UK, 1990-2012–an empirical analysis." Centre for Banking, Finance and Sustainable Development, Discussion Paper Series, CBFSD 1-13
- Abdallah, S., Gough, I., Johnson, V, & Smith, C. (2011). The distribution of total greenhouse gas emissions by households in the UK, and some implications for social policy, (No. 152). Centre for Analysis of Social Exclusion, LSE, Discussion Paper
- Policy reports (selected, co-authored unless stated)
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- Ryan-Collins, J. (2019) Beyond voluntary disclosure: why a ‘market-shaping’approach to financial regulation is needed to meet the challenge of climate change, SUERF Policy note, Issue No 61, March 2019
- Dikau, S., & Ryan-Collins, J. (2017). Green central banking in emerging market an developing country economies., New Economics Foundation: London
- (2017) Making money from making money: seigniorage in the modern economy, NEF: London (KR Foundation)
- (2015) ScotPound: digital money for the common good - a new socially inclusive payment system for Scotland, NEF: London
- (2015) Financial System Resilience Index, NEF: London (Friends Provident)
- (2014) Financial system impact of disruptive innovation, Report to the United Nations Environment Program (UNEP), NEF: London
- (2013) Strategic Quantitative Easing: Stimulating Investment to rebuild the economy, NEF: London (Hadley Trust)