Publications Helicopters on standby? With rates at all-time lows, the Bank of England needs a different playbook for this crisis 26 March 2020 by James Smith and Tony Yates With a big recession on the way, the Bank of England’s Monetary Policy Committee would normally be unveiling measures to support the economy today, and this piece would be discussing… Continue Reading
Publications The beginning of the end… …but not the end of the beginning Governor Carney’s valedictory speech discusses the future of the UK’s monetary policy remit – but this is just the start of an important debate 10 January 2020 by James Smith and Tony Yates The beginning of the end… After several false starts, the appointment of his successor (Andrew Bailey) means Mark Carney finally has a leaving date (15 March). He can now concentrate… Continue Reading
Comment Political leaders must set out credible plans to tackle the next downturn The time for action on macroeconomic policy is now 30 November 2019 by James Smith 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,… Continue Reading
Comment The Treasury and Bank of England should prepare for a three-pronged economic shock from ‘no deal’ 1 October 2019 by Jack Leslie It’s a well-worn trope that no one knows what the economic impact of a no deal Brexit would be. And for good reason. The scale of disruption at the border,… Continue Reading
Publications Dealing with ‘no deal’ The economic policy response to a ‘no deal’ Brexit 19 September 2019 by Richard Hughes and Jack Leslie and Cara Pacitti and James Smith This report provides a framework for understanding what role macroeconomic policy can play in alleviating the economic impact of a ‘no deal’ Brexit. Continue Reading
Publications Recession ready? Assessing the UK’s macroeconomic framework 9 September 2019 by James Smith and Jack Leslie and Cara Pacitti and Fahmida Rahman 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… Continue Reading
Publications Quantitative (displ)easing? Does QE work and how should it be used next time? 7 September 2019 by Jack Leslie and Fahmida Rahman and James Smith and Joe Gagnon After the financial crisis, central banks purchased massive amounts of long-term bonds to stimulate economies. These purchases have come to be known as quantitative easing (QE) and have been hugely… Continue Reading
Publications A problem shared? What can we learn from past recessions about the impact of the next across the income distribution? 5 August 2019 by James Smith and Cara Pacitti While the received wisdom from the 1980s and 1990s recessions was that those at the bottom of the income distribution suffer most during severe downturns. But this was less obvious… Continue Reading
