PLEASE NOTE THAT PLACES HAVE RUN OUT FOR THIS CONFERENCE

The need for new ideas in macroeconomics is clear. The monetary, fiscal and financial policy rules, designed on the theories and predictions of the universal paradigm of modern macroeconomics, ended in spectacular failure. Champions of modern macroeconomics, for example Robert Lucas, asserted that its main objective of preventing depression conditions had been solved. Not only has this proved to be false, especially in some European countries, but the core model has failed to provide useful insights for policy makers having to understand the causes and hence respond to the largest economic crisis for two generations.

In the commerce second lecture, trends in the labour market will be considered, examining patterns of unemployment, employment, hours worked and real wages. Do high participation rates in the labour market reflect and/or represent economic progress or an economy mired in low-skill low-wages jobs?

You are invited to attend a two-part press conference on Tuesday 1st November at which we will present NIESR's quarterly UK and global economic forecasts, preceded by presentations of a selection of research articles on the implications of the EU Referendum outcome, both published in the November issue of the NIESR Review. 

Please note that this event is for journalists ONLY

Lord Burns will be joining Professor Jagjit S. Chadha at the formal launch of the Cambridge University Press' "The UK Economy in the Long Expansion and its Aftermath"