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.
We analyse whether the policy platforms announced by the main parties are consistent with their own fiscal rules
Fiscal rules are crucial for the government’s stewardship of the public finances and framing its economic priorities. So it is welcome that the main parties have prioritised setting out the rules they would follow, with their announcements following to different
Assessing Conservative and Labour’s new fiscal frameworks
Fiscal rules are technical frameworks only ever focused on by a tiny fraction of the population. But they are important for government’s running of our public finances, and for having a sense of where we are heading as a country.
Assessing the UK’s macroeconomic framework
This report is the launch paper for the Resolution Foundation’s Macroeconomic Policy Unit. It provides the most comprehensive assessment of the UK’s macroeconomic policy framework since the financial crisis, focusing on the ability of the framework to provide effective support
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.
Fiscal rules are crucial for the government’s stewardship of the public finances and framing its economic priorities. So it is welcome that the main parties have prioritised setting out the rules they would follow, with their announcements following to different...
The UK needs new fiscal rules which put improving net worth at the centre, enable the government to borrow to invest, are robust to a wide range of scenarios, and allow fiscal policy to play a lead role in stabilising...
The UK’s current fiscal rules will expire in 2020-21 and all major political parties have committed to replacing them. This paper explores the lessons from UK and international experience that can help set the UK’s next generation of fiscal targets.
With the government’s current fiscal rules set to expire next year, this paper makes the case for government’s next fiscal framework to move beyond the narrow focus on debt and include a target which encompasses its entire balance sheet of...
This report provides a framework for understanding what role macroeconomic policy can play in alleviating the economic impact of a ‘no deal’ Brexit.
This report is the launch paper for the Resolution Foundation’s Macroeconomic Policy Unit. It provides the most comprehensive assessment of the UK’s macroeconomic policy framework since the financial crisis, focusing on the ability of the framework to provide effective support...
We present our latest paper from our Macroeconomic Policy Unit on what the UK’s new fiscal rules should be, followed by a debate by an expert panel on the pros and cons of new fiscal rules.
Across Whitehall, preparations for ‘No Deal’ are now dominating, from maintaining medical supplies to bolstering border controls. But the Treasury and the Bank of England also need to prepare a macroeconomic response to a ‘No Deal’ Brexit.
To mark its launch of its new Macroeconomic Policy Unit, Resolution Foundation is hosting an event that brings together leading macroeconomists and policy makers, and will include the publishing of a comprehensive assessment of the UK’s current macroeconomic policy framework.
Okay, fair enough, there’s a lot going on right now. With a fraught election campaign in full flow, and our future relationship with the EU still up in the air, you can be forgiven for taking your eye off preparations...