Blogs

The NIESR blog is a forum for Institute research staff to provide an informed, independent view on current economic issues and recent NIESR research. The views expressed here are those of the authors, and are not necessarily those of the Institute.

Prof Roger Farmer

Posted: 15 October, 2017 - 23:16

A couple of months ago, I had the pleasure of speaking with Cloud Yip. Cloud is running a series of interviews under the title of “Where is the General Theory of the 21st Century” and I was privileged to be included in that series.

Dr Matt Bursnall

Dr Stefan Speckesser

Posted: 11 October, 2017 - 12:04

Recently, the FT showed that contrary to popular belief the most troubling issue for SMEs in Europe is not access to finance but access to skills – with the level of concern and the gap between the issues getting larger.

Prof Roger Farmer

Posted: 9 October, 2017 - 14:46

Today’s announcement of a Nobel Prize for Richard Thaler is richly deserved and I congratulate the Nobel committee for recognising the importance of the growing influence of behavioural economics that Richard helped to create.

Prof Roger Farmer

Posted: 2 October, 2017 - 08:00

Policy makers at central banks have been puzzled by the fact that inflation is weak even though the unemployment rate is low and the economy is operating at or close to capacity.

Naomi Munro-Lott

Posted: 29 September, 2017 - 12:09

In a post-Brexit world, there are fears that the UK labour market will experience a shortage of both high and low skilled workers. Recently, the focus has been on the future of lower skilled EU citizens who are instrumental in the UK agricultural and seasonal sectors. In certain industries, up to 40% of employers originate from the EU, and there is concern that if these EU citizens return to Europe the domestic labour force will not be able to make up these losses. But there have also been reports of possible shortages of highly-skilled workers.

Prof Roger Farmer

Posted: 24 September, 2017 - 22:53

Like most academics, I spend much of my time asking for money from research councils. So, it is a welcome change for me to sit on the other side of the table in my role on the management team of Rebuilding Macroeconomics. This is an initiative located at the National Institute of Economic and Social Research in the UK and funded by the Economic and Social Research Council.

Prof Roger Farmer

Posted: 18 September, 2017 - 09:23

This is my final post featuring research presented at the conference on Applications of Behavioural Economics and Multiple Equilibrium Models to Macroeconomics Policy Conference held at the Bank of England on July 3rd and 4th 2017.

Prof Roger Farmer

Posted: 11 September, 2017 - 13:13

This is my penultimate post featuring research presented at the conference on Applications of Behavioural Economics and Multiple Equilibrium Models to Macroeconomics Policy Conference held at the Bank of England on July 3rd and 4th 2017.

Dr Heather Rolfe

Posted: 6 September, 2017 - 12:25

A leaked Home Office document setting out a number of post-Brexit immigration proposals has set alarm bells ringing, not least among UK employers. Just when they thought sense was prevailing, that there would be no ‘cliff edge’ they now hear of plans to end free movement immediately after Brexit. And while once they perceived a welcome recognition of the importance of low skilled workers, as well as the highly skilled, in key sectors, they hear of proposals to drive down the number of these workers and allow them only temporary residency.

Prof Roger Farmer

Posted: 2 September, 2017 - 21:51

This is week five of my posts featuring research presented at the conference on Applications of Behavioural Economics and Multiple Equilibrium Models to Macroeconomics Policy Conference held at the Bank of England on July 3rd and 4th 2017.

Prof Roger Farmer

Posted: 28 August, 2017 - 00:04

This is week four of my posts featuring research presented at the conference on Applications of Behavioural Economics, and Multiple Equilibrium Models to Macroeconomics Policy Conference held at the Bank of England on July 3rd and 4th 2017.

Amit Kara

Posted: 25 August, 2017 - 16:48

Economic forecasts were roundly criticised for exaggerating the fallout from the EU referendum last year. As it turned out, the economy did outperform many forecasts in the period that immediately followed the referendum, but that has changed quite markedly this year as household incomes are squeezed by high inflation and economic growth has consequently slowed. Was the criticism fair?

Dr Monique Ebell

Posted: 24 August, 2017 - 17:48

In a piece released this week , Patrick Minford and his co-author argue that the UK should unilaterally reduce trade barriers, because this would lower import prices. Moreover, by subjecting UK producers to unfettered competition from abroad, UK food growers and manufacturers would be forced to become more competitive, further lowering prices for UK consumers.

Dr Monique Ebell

Posted: 22 August, 2017 - 00:00

If most of the latest report by Patrick Minford, of Economists for Free Trade, on Britain’s future prospects post-Brexit sounds too good to be true, it’s because it probably is.

Prof Roger Farmer

Posted: 21 August, 2017 - 08:45

This is my third memo featuring research presented at the conference on Applications of Behavioural Economics, and Multiple Equilibrium Models to Macroeconomics Policy Conference held at the Bank of England on July 3rd and 4th 2017.

Bill Allen

Posted: 18 August, 2017 - 00:00

The Bank of England is proud of its independence, which since 1997 has allowed it to determine, without interference, the prevailing level of short-term interest rates in pursuit of price stability. Since 2009, it has, however, changed interest rates only once.

Graham Hacche

Iana Liadze

Posted: 16 August, 2017 - 00:00

In its August ReviewNIESR revised its forecast for GDP growth in the Euro Area in 2017 up to 2.0 per cent from 1.6 per cent projected in May.  The Review also noted that the recent significant strengthening of growth in the Area had been accompanied by a smaller divergence of growth performance among member countries than seen in most of the period since the euro was introduced.

Prof Roger Farmer

Posted: 14 August, 2017 - 08:43

This is the second of my posts on the conference: Applications of Behavioural Economics, and Multiple Equilibrium Models to Macroeconomic Policy, held at the Bank of England on July 3rd and 4th.  I feature two papers written by officials from the Federal Reserve System. 

Paul Labonne

Posted: 9 August, 2017 - 12:10

The 9th August 2007, the illiquidity of financial markets where derivatives linked to subprime mortgages were traded lead BNP Paribas to suspend three of its funds involved in those trades. This decision struck financial markets and lead to the public acknowledgement that a financial crisis was taking place. 

Prof Roger Farmer

Posted: 7 August, 2017 - 08:51

This is the first of a new weekly blog series, Monday’s Macro Memo with Roger Farmer, which will discuss a wide range of economic issues of the day.

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