Anthony Savagar

Bio

I am a researcher at the Bank of England and an associate professor in economics at the University of Kent. Additionally, I am an advisor to the Office for National Statistics (ONS Fellow). Previously, I have advised the Department for Business (DBT) and Competition and Markets Authority (CMA) as an academic consultant, and I have spent visiting periods at the St Louis Federal Reserve and OECD.

My research interests are in macroeconomics and industrial organization, particularly focusing on how firm-level characteristics and strategic behaviour shape macroeconomic outcomes. Below are some questions that I am studying:

1. Why is aggregate productivity stagnant despite growing returns to scale from technologies such as AI?

2. Should policymakers allow more market concentration if new technologies have greater scale economies?

3. Are sector-level price changes determined by differences in price-setting ability or differences in cost structures?

To answer these questions, I develop dynamic general equilibrium models with industrial organization foundations that aggregate to determine macroeconomic behaviour. I use firm-level production data to estimate model parameters in order to generate quantitative predictions and policy insights.

To bridge the gap between my academic research and policy, I have an interest in applied public policy research, particularly in relation to the UK economy. I have written papers on market concentration in the UK, firm entry and exit rates, market power and policies related to COVID-19. I also manage the Business Dynamics Dashboard which provides real-time insights on firm entry, exit and survival for different sectors of the UK economy. This work receives regular media coverage.