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Liam Cosgrove

Analyst

Liam Cosgrove is an Analyst at Europe Economics having joined in July 2025.

Liam Cosgrove is an Analyst at Europe Economics having joined in July 2025.

Liam Cosgrove specialises in policy evaluation, developmental and competition economics, applied statistics, and data science. He has experience supporting regulatory and analytical projects for UK regulators, including econometric RCT analysis and desk research for impact assessments of Open Banking and Open Finance for the Financial Conduct Authority, efficiency benchmarking for the Civil Aviation Authority’s H8 price control, and input price inflation modelling for Network Rail on behalf of the Office of Rail and Road. Prior to joining Europe Economics, Liam gathered valuable experience as a macroeconomic data engineer and as an undergraduate tutor of Econometrics and Statistics. Liam holds an MSc in Economics with a specialisation in Public Policy from the University of Amsterdam and a German Chamber of Commerce qualification as a banker. 

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Ofwat

Our personnel have been seconded multiple times to Ofwat, and we have carried out various discrete studies analysing the water sector from different perspectives. Some of these have involved cost assessment support for RAPID gate two assessment; advising on important aspects of Ofwat’s approach to the cost of equity for PR24 and; assisting with the investigation of the potential for improving Ofwats’s methodology to mergers’ assessment.

Critique of regulatory judgements

One form of legal case involves a challenge to regulatory decisions. We offer expert witness assistant assessing whether regulatory decisions are in line with established policy objectives or regulatory precedent and what the competition or other implications are of those decisions or alternatives.

Assessment of profitability or cost of capital

In regulated price controls, a key input is the determined cost of capital. This has often been a subject of appeals against regulatory judgements. Cost of capital analysis also feeds into assessments of profitability in assessing whether firms have been charging prices above the competitive level, and into the valuation of research pipelines in mergers.

Critique of econometric, quantitative methods or data used to support regulatory decisions

One form of a legal case is judicial revision of policy decisions. Such policy decisions are often supported by quantitative models. Those models can be critiqued in various ways – criticised or defended on the basis of their methodology or the data used.