Brexit and its consequences for the UK economy (RDF20/BL/AFM/BRZESZCZYNSKI)

Brexit, as an unprecedented political and economic event, constitutes a critically important development for the UK economy with potentially far-reaching implications for its future. As such, it creates a unique opportunity to conduct research relying upon a unique dataset on a historic event.

This Ph.D. project will be focused on: (1) the evaluation of the economic consequences of Brexit after the UK leaves the European Union (EU) on 31 January 2019 and (2) the measurement and quantification of news events and expectations during the pre-Brexit period, permitting an analysis of whether financial markets view these events as being a positive, negative or neutral development for the UK economy.

Given the timing and the duration of this Ph.D. project, the analysis of the macroeconomic consequences of Brexit will be undertaken during a period spanning at least 3 years after Brexit.

Expectations relating to the impact of Brexit can be inferred directly from the UK financial market instruments prices by: (1) measuring the reactions of financial assets prices to Brexit events and (2) by investigating stock market performance before and after Brexit, thereby capturing evolving expectations.

The successful candidate should possess advanced econometric skills (good knowledge and sufficient experience in constructing and estimating time series regression models, such as ARCH models etc., and the ability to deal with complex financial market databases, including highfrequency data) and be proficient in the use of statistical packages (Eviews, STATA etc.) as well as possess broad knowledge of macroeconomics and understand the impact of the macroeconomic environment on financial markets.
Eligibility and How to Apply
Please note eligibility requirement:

- Academic excellence of the proposed student i.e. 2:1 (or equivalent GPA from non-UK universities [preference for 1st class honours]); or a Masters (preference for Merit or above); or APEL evidence of substantial practitioner achievement.
- Appropriate IELTS score, if required.
- Applicants cannot apply for this funding if currently engaged in Doctoral study at Northumbria or elsewhere.

For further details of how to apply, entry requirements and the application form, see: https://www.northumbria.ac.uk/research/postgraduate-research-degrees/how-to-apply/

Please note: Applications that do not include a research proposal of approximately 1,000 words (not a copy of the advert), or that do not include the advert reference (e.g. RDF20/…) will not be considered.

Deadline for applications: Friday 24 January 2020

Start Date: 1 October 2020

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