MA, PhD (Princeton)


Bruce Preston is Professor of Economics at the University of Melbourne. Prior to that he was on the faculty at Monash University and Columbia University. He was an Australian Research Council Future Fellow from 2014-2018. He received a PhD from Princeton University in 2003. 

His research interests include monetary economics, fiscal policy, and international economics. He has published on topics such as central bank communications and interest rate policy, policy credibility and the anchoring of long-term inflation expectations, monetary-fiscal policy interactions and inflation policy in high-debt economies. A uniting theme of this work has been to understand and model how economic agents form expectations about future economic conditions; how these expectations affect their behavior; and what these behavioral models of belief formation mean for economic policy. 

Given the policy focus of his research, Bruce has been an active participant in contemporary policy discussion. Prior to returning to Australia he was visiting professor at the Federal Reserve Bank of New York. Since being in Australia he has been a Senior Economic Research Advisor at the Reserve Bank of Australia and engaged in various activities at the Department of Treasury, including as a member of their Expert Panel on Forecasting Methodology. 

He has published in the top general interest and field journals such as the American Economic Review, Journal of Economic Literature, Journal of Monetary Economics and Journal of International Economics. He is current an associate editor of the European Economic Review and formerly the Journal of Applied Econometrics and Macroeconomic Dynamics. 

ARC Future Fellow 2014-2018 

1. Eusepi, S & Preston B 2018, Fiscal Foundations of Inflation: Imperfect Knowledge, American Economic Review, 108(9)

2. Eusepi, S & Preston B 2018, The Science of Monetary Policy: An Imperfect Knowledge Perspective, Journal of Economic Literature, 56(1)

3. Eusepi, S & Preston B 2011, Expectations, Learning and Business Cycle Fluctuations, American Economic Review, 101(6)

4. Eusepi, S & Preston B 2010, Central Bank Communication and Expectations Stabilization, American Economic Journal: Macroeconomics, 2

5. Parker, J & Preston B 2005, Precautionary Savings and Consumption Fluctuations, American Economic Review, 95