Analysis and action on living standards
The Resolution Foundation’s Macroeconomic Policy Unit has been set up with the aim of contributing to a more inclusive and better informed macroeconomic policy debate. It will publish original and rigorous macroeconomic analysis on key policy issues. As well as research undertaken by Resolution Foundation staff and the MPU’s Associates, we will collaborate with, and provide a platform for, high-quality and innovative thinking on macroeconomic policy issues.
Macroeconomic developments play a key role in driving living standards. The unprecedented stagnation in earnings seen since the financial crisis has to a large degree reflected the weakness of aggregate GDP and productivity. While low to middle income households have fared worse than those at the top of the distribution, weak income growth has affected all parts of the distribution. Macroeconomic policy plays a key role in determining macroeconomic outcomes, and so is inextricably linked to living standards. This is particularly true in recessions when macroeconomic plays a vital role in limiting the damage.
With the economic outlook improving, there has been much debate about when the Bank of England should start tightening policy. But the Bank also faces a key decision about how to tighten. This is important because a successful strategy for
Worries about rising inflation are spreading. In this edition of our regular Macro Policy Outlook we draw a comparison between the UK and the US. Our analysis points to a sharp rise in UK inflation in the coming months, possibly
Budget 2021 and the challenge of delivering a rapid recovery from Covid-19
While the strength of the economic recovery from Covid-19 will depend on the vaccine rollout and the Government’s ‘road map’ for easing social distancing restrictions, it will also depend on decisions taken at the Budget which are the economic counterpart
In this edition of our regular Macro Policy Outlook, we focus on the single biggest measure announced in the recent Budget to boost business investment, a long-running part of the UK’s macroeconomic weakness. The Government’s ‘super deduction’ policy is an
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