Professor Jagjit S. Chadha
An expert on financial markets and monetary policy, as well as aspects of monetary and financial history. He has written widely on the design of monetary, fiscal and financial policies and is available for comment on general issues of macroeconomics and social policy, as well as broader issues on the role of research in policy design.
Job Title
Director
Jagjit is Director of the National Institute of Economic and Social Research (NIESR). Previously he was Professor of Economics at the University of Kent and Professor of Economics at the University of St Andrews, and Fellow at Clare College, Cambridge. He has worked at the Bank of England on Monetary Policy, as Chief Quantitative Economist at BNP Paribas, and has served as Chair of the Money, Macro, Finance Study Group. He has acted as Specialist Adviser to the House of Commons Treasury Committee and academic adviser to both the Bank of England and HM Treasury, and to many central banks, as well as the Bank for International Settlements. In the City of London he was the Mercers’ Memorial Professor of Commerce at Gresham College from 2014-2018. He served as a member of the ESRC Strategic Advisory network until 2021.
In the 2021 Queen’s Birthday Honours he was awarded an OBE for his services to economics and economic policy.
Research Interests
His main research interests are developing the links between finance and macroeconomics in general equilibrium models and has published widely in economics journals. He is editor of the Cambridge University Press series on Modern Macroeconomic Policymaking, an associate editor of several journals and author of The Money Minders, which examines the world of central banking. He has published a number of papers related to the impact of quantitative easing on financial market prices.
Additional Information
Jagjit Chadha is a FRSA and FacSS , and also a member of:
- Main Panel C for the REF2021
- Council of the Royal Economic Society
http://econpapers.repec.org/RAS/pch64.htm
http://voxeu.org/person/jagjit-chadha
https://sites.google.com/view/matters-macro/home
Professor Chadha’s first series of lectures for Gresham College was on “Money, Monetary Policy and Central Banks: The Meeting of Art and Science“. His second series of lectures was entitled, “Some Macroeconomic Puzzles: Conjectural Refutations“, and his third series, “Where are after the Storm? The UK Economy in the Aftermath of Financial Crisis“. His series for the academic year 2017/18 was entitled “Blueprint for Brexit Britain“.
Director’s “Commentaries” from our Economic Review can be found under Publications, along with his opening remarks to our NIER and UK & Global Outlook press conferences
Publications
Discussion Papers
Bank Reserves and Broad Money In the Global Financial Crisis: A Quantitative Evaluation
11 Nov 2020
Discussion Papers
A Century of High Frequency UK Macroeconomic Statistics: A Data Inventory
18 Oct 2019
Discussion Papers
Understanding and Confronting Uncertainty: Revisions to UK Government Expenditure Plans
22 Oct 2018
Discussion Papers
Consumption Dynamics, Housing Collateral and Stabilisation Policies: A Way Forward for Policy Co-Ordination?
01 Feb 2018
Discussion Papers
Economic Outlooks
National Institute Economic Review
Commentary: The Missing Link: Modelling Potential Output and Fiscal Rules
20 Nov 2023
National Institute Economic Review
Commentary: Monetary and Fiscal Policy Redux – The Mini-Budget
04 May 2023
National Institute Economic Review
Director’s Remarks, UK and Global Economic Outlook February 2022
08 Feb 2022
Director's Remarks
Director’s Remarks, UK and Global Economic Outlook November 2021
09 Nov 2021
Director's Remarks
Commentary: Quantitative Tightening: Protecting Monetary Policy from Fiscal Encroachment
31 Aug 2021
National Institute Economic Review
Director’s Remarks, UK and Global Economic Outlook August 2021
02 Aug 2021
Director's Remarks
Occasional Papers
Designing a New Fiscal Framework: Understanding and Confronting Uncertainty
26 Apr 2021
Occasional Papers
Monetary Policy in Troubled Times: New Governor… New Agenda
26 Mar 2020
Occasional Papers
Renewing our Monetary Vows: Open Letters to the Governor of the Bank of England
15 Oct 2019
Occasional Papers
Policy Papers
Quantitative Tightening: Protecting Monetary Policy from Fiscal Encroachment
28 Jul 2021
Policy Papers
The OBR’S Approach to Forecasting the Impact of Exiting the European Union – A Submission to the Treasury Committee of the UK Parliament
01 Feb 2018
Policy Papers
Policy, Budgets, & Fiscal Events
Monetary and Fiscal Co-ordination Part II: A Letter to the Treasury Select Committee
27 Sep 2022
Letters and Written Submissions
NIESR’s Response to the Autumn Budget and Spending Review 2021
27 Oct 2021
Budget/Fiscal Event Comment
The UK Business Cycle – Dating and Implications
02 Oct 2021
Letters and Written Submissions
A Switch to Active Fiscal Policy: NIESR Response to Budget 2020
11 Mar 2020
Budget/Fiscal Event Comment
UK Productivity Commission
Blog Posts
Where Are We With Regional Inequalities in the UK?
Adrian Pabst
Jagjit S. Chadha
01 Nov 2023
5 min read
What Should the 2023 Spring Budget Contain?
Stephen Millard
Jagjit S. Chadha
13 Mar 2023
7 min read
Rising Interest Rates and Higher Mortgage Repayments: What’s the Impact on Households?
Max Mosley
Adrian Pabst
Jagjit S. Chadha
06 Dec 2022
4 min read
What are the Economic Challenges Facing the New Prime Minister?
Stephen Millard
Jagjit S. Chadha
18 Jul 2022
6 min read
Dating Business Cycles in the United Kingdom, 1700–2010
Jagjit S. Chadha
Jason Lennard
Ryland Thomas
Stephen Broadberry
24 Jun 2022
3 min read
Projects
News
The Bank of England’s Job Is Difficult Enough As It Is, Without Government ‘Help’
22 May 2023
4 min read
The Key Steps to Ensuring Normal Service is Quickly Resumed in the Economy
13 Feb 2023
4 min read