Tim Lloyd

Professor Tim Lloyd

  • Professor of Economics
  • Executive Business Centre EB409, Bournemouth University, 89 Holdenhurst Road, Bournemouth, BH8 8EB
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Biography

Professor Lloyd joined Bournemouth University in July 2015. He was formerly Associate Professor in the School of Economics at the University of Nottingham where he obtained his PhD and had taught for 25 years. Professor Lloyd’s research and teaching interests are agricultural and food economics, particularly pricing and competition in the food industry.

"We all eat food. Most of us buy it. When I was an undergraduate it was the butter mountains and wine lakes of European subsidy and Band Aid’s publicity of starvation in Africa that fired my interest. Thirty years on, more people now suffer from over-nutrition than under-nutrition, to say nothing of the multinationals that dominate the High Street. Economics does not have all the answers but it does provide a framework, insights and practical solutions.”

During his time at Nottingham, Professor Lloyd developed an interest in econometrics – the application of statistical methods to economic data. Econometric analysis figures in much of his research, reflecting the time spent at Nottingham, home to the 2003 Noble Prize winner in Economic Science Professor Clive Granger...

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Research

I am currently conducting research in to supermarket pricing using high frequency, barcode-specific price data derived from laser barcode scanner at supermarket checkouts (scanner data). The work, which investigates the speed and nature of price transmission, is in collaboratoin with colleagues at the Universities of Exeter (Professor Steve McCorriston), Sheffield (Professor Wyn Morgan) and East Anglia (Dr Hao Lan).

I am also involved in a project (with McCorriston and Morgan) analysing the determinants of food price inflation in the EU, on which I presented a paper at the International Association of Agricultural Economics in Milan, August 2015. This work also provided context to my contribution as expert witness to the House of Lords European Committee report on price volatility. Previously, I had been invited to address the One Day conference organised by Defra and the Agricultural Economics Society on this topic.

Much of this work arose out of a Framework 7 grant entitled the Transparency of Food Pricing (TRANSFOP) , in collaboration with 11 Euorpean partner instituations and funding of Euro 1,000, 000.

Other ongoing projects include: (1) work with Professor Chris Starmer and Dr Nikhil Masters (Nottingham and Manchester respectively) on consumer responses to risk and uncertainty using data obtained from laboratory experiments. It is motivated by consumers responses to food scares but involves 'carry-over effects' more generally.

(2) collaboration with Professor Paul Dobson and Dr Hao Lan (UEA) analysing the hazard function of promotional sales in the UK...

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Favourites

  • Davidson, J., Halunga, A., Lloyd, T., McCorriston, S. and Morgan, W., 2016. World Commodity Prices and Domestic Retail Food Price Inflation: Some Insights from the UK. Journal of Agricultural Economics, 67 (3), 566-583.
  • Lloyd, T.A., McCorriston, S., Morgan, C.W., Poen, E. and Zgovu, E., 2014. Retail price dynamics and retailer heterogeneity: UK evidence. Economics Letters, 124 (3), 434-438.

Journal Articles

  • Bwire, T., Lloyd, T. and Morrissey, O., 2017. Fiscal Reforms and the Fiscal Effects of Aid in Uganda. Journal of Development Studies, 1-18.
  • Lloyd, T., 2017. Forty Years of Price Transmission Research in the Food Industry: Insights, Challenges and Prospects. Journal of Agricultural Economics, 68 (1), 3-21.
  • Davidson, J., Halunga, A., Lloyd, T., McCorriston, S. and Morgan, W., 2016. World Commodity Prices and Domestic Retail Food Price Inflation: Some Insights from the UK. Journal of Agricultural Economics, 67 (3), 566-583.
  • Lan, H., Lloyd, T. and Morgan, C.W., 2015. Supermarket Promotions and Food Prices: A Note. Journal of Agricultural Economics, 66 (2), 555-562.
  • Lloyd, T.A., McCorriston, S., Morgan, C.W., Poen, E. and Zgovu, E., 2014. Retail price dynamics and retailer heterogeneity: UK evidence. Economics Letters, 124 (3), 434-438.
  • Khalid, H., Lloyd, T.A. and Morgan, C.W., 2013. The impact of economic transformation and the credibility of planning control on agricultural land values. German Journal of Agricultural Economics, 62 (2), 134-145.
  • Lloyd, T., Mccorriston, S., Morgan, W. and Zgovu, E., 2013. European retail food price inflation. EuroChoices, 12 (2), 37-44.
  • Lloyd, T., 2013. Retail Food Prices: Insights from Supermarket Scanner Data. Transactions of the Manchester Statistical Society, 31-46.
  • Lloyd, T., Mccorriston, S., Morgan, W., Rayner, A. and Weldegebriel, H., 2009. Buyer power in U.K. food retailing: A 'first-pass' test. Journal of Agricultural and Food Industrial Organization, 7 (1).
  • Lloyd, T. and Morgan, W., 2007. Market power in UK food retailing. EuroChoices, 6 (3), 22-29.
  • Lloyd, T.A., McCorriston, S., Morgan, C.W. and Rayner, A.J., 2006. Food scares, market power and price transmission: The UK BSE crisis. European Review of Agricultural Economics, 33 (2), 119-147.
  • Osei, R., Morrissey, O. and Lloyd, T., 2005. The fiscal effects of aid in Ghana. Journal of International Development, 17 (8), 1037-1053.
  • Osei, R., Morrissey, O. and Lloyd, T., 2004. The nature of aid and trade relationships. European Journal of Development Research, 16 (2), 354-374.
  • Lloyd, T., McCorriston, S., Morgan, C.W. and Rayner, A.J., 2001. The impact of food scares on price adjustment in the UK beef market. Agricultural Economics, 25 (2-3), 347-357.
  • Lloyd, T., McGillivray, M., Morrissey, O. and Osei, R., 2000. Does aid create trade? An investigation for european donors and african recipients. European Journal of Development Research, 12 (1), 107-123.
  • Gemmell, N., Lloyd, T.A. and Mathew, M., 2000. Agricultural growth and inter-sectoral linkages in a developing economy. Journal of Agricultural Economics, 51 (3), 353-370.
  • Lloyd, T.A., Morgan, C.W., Rayner, A.J. and Vaillant, C., 1999. The transmission of world agricultural prices in Cote d'Ivoire. Journal of International Trade and Economic Development, 8 (1), 125-141.
  • Lloyd, T., Morrissey, O. and Reed, G., 1998. Estimating the impact of anti-dumping and anti-cartel actions using intervention analysis. Economic Journal, 108 (447), 458-476.
  • Watkins, C., Williams, D. and Lloyd, T., 1996. Constraints on farm woodland planting in England: A study of Nottinghamshire farmers. Forestry, 69 (2), 166-176.
  • Lloyd, T., Watkins, C. and Williams, D., 1995. TURNING FARMERS INTO FORESTERS VIA MARKET LIBERALISATION. Journal of Agricultural Economics, 46 (3), 361-370.
  • Leybourne, S.Y., Lloyd, T.A. and Reed, G.V., 1994. The excess comovement of commodity prices revisited. World Development, 22 (11), 1747-1758.
  • Lloyd, T., 1994. PRACTITIONERS' CORNER: Testing a Present Value Model of Agricultural Land Values. Oxford Bulletin of Economics and Statistics, 56 (2), 209-223.
  • Lloyd, T.A. and Rayner, A.J., 1993. CO‐INTEGRATION ANALYSIS AND THE DETERMINANTS OF LAND PRICES: COMMENT. Journal of Agricultural Economics, 44 (1), 149-156.
  • Lloyd, T.A., 1993. OUTLIERS IN AGRICULTURE: AN INTERVENTION ANALYSIS OF AGRICULTURAL LAND VALUES. Journal of Agricultural Economics, 44 (3), 443-455.
  • Lloyd, T.A., Rayner, A.J. and Orme, C.D., 1991. Present-value models of land prices in England and Wales. European Review of Agricultural Economics, 18 (2), 141-166.
  • Lloyd, T.A. and Rayner, A.J., 1990. Land Prices, Rents and Inflation: A Cointegration Analysis. Oxford Agrarian Studies, 18 (2), 97-111.

Books

Chapters

  • Lloyd, T., McCorriston, S. and Morgan, W., 2016. Has Price Volatility Increased and Does it Vary across Commodities? (RPV 0029). House of Lords. European Union Committee. 15th Report of Session 2015–16. Responding to price volatility: creating a more resilient agricultural sector.. London: House of Lords.
  • Lloyd, T., Lloyd, McCorriston, S. and Morgan, C.W., 2015. Food Inflation in the EU: Contrasting Experience and Recent Insights. Food Price Dynamics and Price Adjustment in the EU. Oxford: Oxford University Press, 20-50.
  • Lloyd, T., Morrissey, O., Opuku-Afari, M. and McGillivray, M., 2008. Fiscal Effects of Aid in Developing Countries: A Comparative Dynamic Analysis. In: Mavrotas, G. and McGillivray, M., eds. Development Aid: A Fresh Look. Palgrave-Macmillan.
  • Lloyd, T., Morrissey, O. and M’Amanja, D., 2007. Aid and Growth in Kenya: A Time Series Approach. Theory and Practice of Foreign Aid. Elsevier.
  • Lloyd, T., Morgan, C. and McCorriston, S., 2003. How Do markets Respond to Food Scares? Health, Nutrition and Food Demand. CABI.
  • Lloyd, T., Rayner, A., Hine, R., Ackrill, R. and Smith, V., 1999. Rayner, A.J., Hine, R.C., Lloyd, T.A., Smith, V. and Ackrill, R. (1999) “European Agricultural Policy Under GATT” in Antle, J. and Smith V. (eds) The Economics of World Wheat Markets CABI Publishing :Wallingford. The economics of world wheat markets. CABI.
  • Lloyd, T., Leybourne, S., Greenaway, D. and Reed, G., 1999. The Excess Co-movement of Commodity Prices Revisited. In: Greenaway, D. and Morgan, C., eds. The Economics of Commodity Markets. Edward Elgar.
  • Lloyd, T. and Watkins, C., 1996. Farmers' Attitudes to Woodland Planting Grants and the Potential Effects of New Forestry Incentives. In: Curry, N. and Owen, S., eds. Changing Rural Policy in Britain. Countryside and Community Press.

Conferences

Reports

Others

PhD Students

  • Peter Howard-Jones (The Influence of the Washington Consensus Programme on the Transitional Economies of Eastern Europe)
  • Olivia Placzek (Supermarket Promotions, Obesity and Food Demand)
  • Mehmet Yarlik (Forecasting Oil Price Volatility: The Role of New Approaches)

Profile of Teaching PG

  • Financial Econometrics
  • MSc Dissertations

Profile of Teaching UG

  • Undergraduate Dissertations
  • Basic Statistical Techniques
  • Econometric Technqiues
  • Mathematics for Economists

Invited Lectures

  • Inaugural Lecture, Bournemouth University
  • Discussant, International Association of Agricultural Economists
  • House of Lords , European Union Committee
  • Presidential Address, Agricultural Economics Society
  • OECD's Joint Meeting of the Expert Groups on the Food Chain Network and the Economics of Prevention

Grants

  • Globalisation, Diet and Health (Bournemouth University, 25 Sep 2017). Awarded
  • Oil and food price volatility: An empirical investigation based on ultra-high frequency data (Bournemouth University (QR Funding), 02 Jan 2017). In Progress
  • Supermarket Promotions, Obesity and Food Demand (Scotland's Rural College and Bournemouth University, 19 Sep 2016). In Progress
  • Transparency of Food Pricing (TRANSFOP) (European Commission, 01 Jan 2011). Completed
  • Determining the Causes of Food Price Inflation in the UK and Forecasting Future Levels (Department of Agriculture, Food and Rural Affairs, 01 Feb 2010). Completed

External Responsibilities

  • University of Reading, External Examiner (PhD) (2017-)
  • Agricultural Economics Society, Executive Committee Member (2013-), http://www.aes.ac.uk/; Journal of Agricultural Economics adn EuroChoices
  • Agriculture and Horticulture Development Board, Acadmic Member, Industry Volatility Forum (2016-), http://www.ahdb.org.uk/projects/default.aspx
  • Agricultural Economics Society, External Editor (2013-), http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1477-9552; Journal of Agricultural Economics
  • University of Sheffield, External Examiner, Department of Economics (2017-2020)
  • University of Bath, Department of Economics, External Examiner, PhD, (2016-)

Public Engagement & Outreach Activities

  • After Brexit – Domestic Alternatives to the CAP, AES – Defra Conference, Defra/Agricultural Economics Society, London,..
  • Letter from the President: A Question of Inflation
  • Presidential Newsletter
  • Letter from the President: A Perfect Storm
  • Letter from the President: Turbulent Times
  • House of Lords Select Committee on the Environment
  • AES/Defra Conference on Climate Change and it implications for Global Food Security

Conference Presentations

  • Agricultural Economics Society Annual Conference, Conference Chairman, 23 April 2017, Dublin
  • International Conference of Agricultural Economists, Dynamic of Food Inflation across the EU, 17 August 2015, Milan, Italy
  • Agricultural Economics Society Annual Conference, Commodity Shocks and Food Price Inflation across the EU, 8 April 2013, University of Warwick
  • Transparency of Food Pricing Project, What Dimensions of Supermarket Scanner Data Matter for Understanding the EU, 13 March 2013, Brussels
  • Tansparency of Food Pricing Project Annual Conference, Common shocks, uncommon effects: Food inflation in the EU, 31 January 2013, University of Toulouse
  • Agricultural Economics Society Annual Conference, Supermarket Promotions and Food Prices, 7 April 2014, Paris, France
  • European Association of Agricultural Economists Triennial Conference, What Factors Drive EU Food Inflation?, 17 August 2015, Ljubljana, Slovenia.
  • What can we Learn from Micro Price Data?, Retail Prices and Retailer Heterogeneity, 14 July 2015, Cardiff Business School
  • Agricultural Economics Society, Forty Years of Price Transmission Research in the Food Industry: Insights, Challenges and Prospects, 4 April 2016, University of Warwick
  • Defra-AES One Day Conference, Food Price Transmission in Europe Econometric Analysis of European Retail Food Price Inflation, 15 December 2014, London
  • Agricultural Economics Society Annual Conference, Common Shocks, Uncommon Effects Food Price Inflation across the EU, 13 April 2015, University of Warwick
  • International Conference of Agricultural Economists, Dynamics of Food Price Inflation Across the EU, 8 August 2015, Milan, Italy

Qualifications

  • PhD in Economics (University of Nottingham, 1992)
  • BSc (Hons) in Agricultural Economics (University of Newcastle upon Tyne, 1986)

Honours

  • Past President of Agricultural Economcis Society (Agricultural Economics Society, 2017)
  • President of the Agricultural Economics Society (2016-2017) (Agricultural Economcis Society, 2016)
  • President Elect (Agricultural Economics Society, 2015)
  • Prize Essay Competition winner (Agricultural Economics Society, 1993)

Memberships

The data on this page was last updated at 04:08 on June 25, 2017.