David Miles

Imperial College Business School

Professor of Financial Economics

South Kensington Campus

Exhibition Road

London SW7 2AZ, SW7 2AZ

United Kingdom

The Bank of England

The Monetary Policy Committee

Threadneedle Street

London EC2R 8AH

United Kingdom

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5

Munich, DE-81679

Germany

SCHOLARLY PAPERS

29

DOWNLOADS
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SSRN RANKINGS

Top 30,483

in Total Papers Downloads

1,741

SSRN CITATIONS
Rank 3,827

SSRN RANKINGS

Top 3,827

in Total Papers Citations

53

CROSSREF CITATIONS

280

Scholarly Papers (29)

The Impact of Changing Demographics and Pensions on the Demand for Housing and Financial Assets

Journal of Pension Economics and Finance, 2010, 9(3), 393-420
Number of pages: 29 Posted: 03 Jul 2005 Last Revised: 22 Jun 2020
Aleš Černý, David Miles and Lubomir Schmidt
The Business School (formerly Cass), City, University of London, Imperial College Business School and UBS Investment Bank
Downloads 425 (76,557)
Citation 5

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pension reform, portfolio allocation, housing, OLG model

The Impact of Changing Demographics and Pensions on the Demand for Housing and Financial Assets

CEPR Discussion Paper No. 5143
Number of pages: 45 Posted: 17 Aug 2005
Aleš Černý, David Miles and Lubomir Schmidt
The Business School (formerly Cass), City, University of London, Imperial College Business School and UBS Investment Bank
Downloads 34 (514,973)
Citation 1
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Pension reform, portfolio allocation, housing, OLG model

2.

Risk, Return and Portfolio Allocation Under Alternative Pension Arrangements with Imperfect Financial Markets

CESifo Working Paper Series No. 441
Number of pages: 47 Posted: 14 May 2001
David Miles and Aleš Černý
Imperial College Business School and The Business School (formerly Cass), City, University of London
Downloads 400 (82,903)

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Pensions, Portfolio Allocation, Demographics, Annuities, Risk-Sharing

3.

Funded and Unfunded Pension Schemes: Risk, Reutrn and Welfare

Number of pages: 39 Posted: 19 Feb 2001
David Miles
Imperial College Business School
Downloads 288 (119,731)

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4.

The Optimal Portfolio Allocation for Corporate Pension Funds

Number of pages: 41 Posted: 01 Aug 2009
David McCarthy and David Miles
Imperial College Business School and Imperial College Business School
Downloads 223 (154,874)

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agency cost, corporate pensions, asset allocation

5.

Alternative Pension Reform Strategies for Japan

Imperial College Business School Working Paper
Number of pages: 65 Posted: 21 Nov 2005 Last Revised: 22 Jun 2020
David Miles and Aleš Černý
Imperial College Business School and The Business School (formerly Cass), City, University of London
Downloads 92 (314,291)
Citation 1

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Aging population, pension reform, Japan

6.

UK House Prices and Three Decades of Decline in the Risk-Free Real Interest Rate

Bank of England Working Paper No. 837, December 2019
Number of pages: 33 Posted: 24 Dec 2019 Last Revised: 17 Jan 2020
David Miles and Victoria Monro
Imperial College Business School and University College London
Downloads 64 (387,080)
Citation 1

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housing, house prices, financial stability, interest rates

The Relevance or Otherwise of the Central Bank's Balance Sheet

CESifo Working Paper Series No. 4615
Number of pages: 32 Posted: 20 Feb 2014
David Miles and Jochen F. Schanz
Imperial College Business School and Bank for International Settlements (BIS)
Downloads 44 (467,296)

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unconventional monetary policy, quantitative easing

The Relevance or Otherwise of the Central Bank's Balance Sheet

CEPR Discussion Paper No. DP9812
Number of pages: 34 Posted: 02 Jun 2014
David Miles and Jochen F. Schanz
Imperial College Business School and Bank for International Settlements (BIS)
Downloads 1 (762,602)
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Quantitative Easing, Unconventional Monetary Policy

8.

Fiscal Multipliers and Time Preference

Bank of England Working Paper No. 39
Number of pages: 25 Posted: 14 Nov 2015
David Miles and Gilberto Marcheggiano
Imperial College Business School and Goldman Sachs Group, Inc. - Goldman Sachs Asset Management
Downloads 28 (534,413)

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9.

Risk Return and Portfolio Allocation Under Alternative Pension Systems with Imperfect Financial Markets

Number of pages: 52 Posted: 27 Apr 2001
David Miles and Aleš Černý
Imperial College Business School and The Business School (formerly Cass), City, University of London
Downloads 24 (558,455)
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Annuities, demographics, pensions, portfolio allocation, risk-sharing

10.

Optimal Social Security Design

Number of pages: 44 Posted: 30 Apr 2002
David Miles and James A. Sefton
Imperial College Business School and Imperial College London
Downloads 22 (571,107)
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Social Security, pensions, optimal taxes

11.

Assessing the Spread of the Novel Coronavirus in the Absence of Mass Testing

Number of pages: 21 Posted: 27 Jul 2020
David Miles and Oscar Dimdore-Miles
Imperial College Business School and University of Oxford
Downloads 21 (577,603)
Citation 1

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COVID 19; SIR model; reproduction number

12.

Book Reviews

Number of pages: 42 Posted: 27 Apr 2003
Bank for International Settlements (BIS), University of Durham, Goethe University Frankfurt, World Bank, affiliation not provided to SSRN, Royal Holloway, University of London, University of Birmingham - Department of Economics, University of Birmingham - Department of Economics, University of the West of England (UWE) - School of Economics, London School of Economics - Department of Finance, University of Birmingham, Heriot-Watt University - Centre for Economic Reform and Transformation, London School of Economics & Political Science (LSE), University of London, Birkbeck College - Department of Economics, Imperial College Business School, University of Bologna - Department of Economics, WU, Vienna University of Economics and BA, Federal Reserve Bank of Boston, King's College London, University of East Anglia, Carleton University - Department of Economics, University of Stirling - Department of Economics, University of Zurich, Université de Lausanne and London School of Economics & Political Science (LSE) - Financial Markets Group
Downloads 21 (577,603)
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13.
Downloads 15 (617,472)
Citation 100

Optimal Bank Capital

CEPR Discussion Paper No. DP8333
Number of pages: 57 Posted: 18 Apr 2011
Gilberto Marcheggiano, David Miles and Jing Yang
Goldman Sachs Group, Inc. - Goldman Sachs Asset Management, Imperial College Business School and Bank of England
Downloads 13 (655,995)
Citation 11
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banks, capital regulation, capital structure, cost of equity, leverage, Modigliani-Miller

Optimal Bank Capital

The Economic Journal, Vol. 123, Issue 567, pp. 1-37, 2013
Number of pages: 37 Posted: 27 Feb 2013
David Miles, Jing Yang and Gilberto Marcheggiano
Imperial College Business School, Government of Canada - Bank of Canada and Goldman Sachs Group, Inc. - Goldman Sachs Asset Management
Downloads 2 (748,367)
Citation 5
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14.

Risk, Return and Portfolio Allocation Under Alternative Pension Systems with Incomplete and Imperfect Financial Markets

Economic Journal, Vol. 116, No. 511, pp. 529-557, April 2006
Number of pages: 29 Posted: 08 May 2006
David Miles and Aleš Černý
Imperial College Business School and The Business School (formerly Cass), City, University of London
Downloads 12 (638,709)
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15.

Incentives Information and Efficiency in the UK Mortgage Market

Number of pages: 17 Posted: 07 Mar 2005
David Miles
Imperial College Business School
Downloads 12 (638,709)
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Optimal Portfolio Allocation for Corporate Pension Funds

CEPR Discussion Paper No. DP6394
Number of pages: 33 Posted: 30 May 2008
David McCarthy and David Miles
Imperial College Business School and Imperial College Business School
Downloads 3 (736,948)
Citation 1
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longevity, pensions, portfolio allocation

Optimal Portfolio Allocation for Corporate Pension Funds

CEPR Discussion Paper No. DP8198
Number of pages: 51 Posted: 31 Jan 2011
David McCarthy and David Miles
Imperial College Business School and Imperial College Business School
Downloads 3 (736,948)
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corporate balance sheets, pension funds, portfolio allocation

Optimal Portfolio Allocation for Corporate Pension Funds

European Financial Management, Vol. 19, Issue 3, pp. 599-629, 2013
Number of pages: 31 Posted: 05 Jun 2013
David McCarthy and David Miles
Imperial College Business School and Imperial College Business School
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defined‐benefit pension plans, asset allocation, asymmetries, unhedgeable risks

17.

The Half Life of Economic Injustice

CEPR Discussion Paper No. DP13342
Number of pages: 35 Posted: 03 Dec 2018 Last Revised: 11 Jan 2019
David Miles
Imperial College Business School
Downloads 2 (715,279)
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Distributive justice, Human Capital, income distribution, Solow growth model

18.

Should Central Banks Provide Reserves Via Repos or Outright Bond Purchases?

CEPR Discussion Paper No. DP10229
Number of pages: 45 Posted: 03 Nov 2014
David Miles and Jochen F. Schanz
Imperial College Business School and Bank for International Settlements (BIS)
Downloads 2 (715,279)
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Central bank balance sheet, Liquidity provision

19.

Population Density, House Prices and Mortgage Design

Scottish Journal of Political Economy, Vol. 59, Issue 5, pp. 444-466, 2012
Number of pages: 23 Posted: 03 Oct 2012
David Miles
Imperial College Business School
Downloads 2 (715,279)
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20.

Interaction between Monetary Policy and Regulatory Capital Requirements

CEPR Discussion Paper No. DP10200
Number of pages: 49 Posted: 14 Oct 2014
Chuan Du and David Miles
Bank of England and Imperial College Business School
Downloads 1 (727,545)
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capital requirements, macro prudential policy, monetary policy

21.

Monetary Policy and Forward Guidance in the UK

The Manchester School, Vol. 82, pp. 44-59, 2014
Number of pages: 16 Posted: 22 Aug 2014
David Miles
Imperial College Business School
Downloads 1 (727,545)
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22.

Quantitative Easing and Unconventional Monetary Policy – An Introduction

The Economic Journal, Vol. 122, Issue 564, pp. F271-F288, 2012
Number of pages: 18 Posted: 30 Oct 2012
Bank of England - Monetary Analysis, Imperial College Business School, London School of Economics - Law Department and London School of Economics
Downloads 1 (727,545)
Citation 13
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23.

Houses Across Time and Across Place

CEPR Discussion Paper No. DP12103
Number of pages: 35 Posted: 26 Jun 2017
David Miles and James A. Sefton
Imperial College Business School and Imperial College London
Downloads 0 (745,594)
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Housing Supply, Spatial Geography, Two Sector Growth Model

24.

Financial Innovation and European Housing and Mortgage Markets

Oxford Review of Economic Policy, Vol. 24, No. 1, pp. 145-175, 2008
Posted: 02 Jul 2008
David Miles and Vladimir Pillonca
Imperial College Business School and Morgan Stanley

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mortgages, house prices, indexation, bubbles

25.

Testing for Short-Termism in the UK Stock Market

Bank of England Working Paper No. 4
Posted: 06 Nov 2003
David Miles
Imperial College Business School

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26.

The Reform of Pension Systems: Winners and Losers Across Generations in the United Kingdom and Germany

Posted: 17 Oct 2000
David Miles and Andreas Iben
Imperial College Business School and Imperial College London - Imperial College of Science, Technology and Medicine

Abstract:

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27.

The Reform of Pension Systems: Winners and Losers Across Generations

Centre for Economic Policy Research Discussion Paper Series No. 1943
Posted: 07 Jan 1999
David Miles and Andreas Iben
Imperial College Business School and Imperial College London - Imperial College of Science, Technology and Medicine

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28.

Modelling the Impact of Demographic Change Upon the Economy

CEPR Discussion Paper Series No. 1762
Posted: 25 Jun 1998
David Miles
Imperial College Business School

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29.

Inflation, Inflation Risks and Asset Returns

Bank of England Working Paper No 27
Posted: 02 Jun 1998
Jo Corkish and David Miles
Bank of England and Imperial College Business School

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