The first public lecture for our new Institute for Policy Research has been a great success – a packed audience and national headlines as a result.
Professor David Miles, an external member of the Bank of England’s Monetary Policy Committee, gave a lecture on ‘What can monetary policy do?” to packed lecture theatre of nearly 200 people including national journalists.
Professor Miles analysed how monetary policy should be set in the difficult – and in many ways extraordinary – circumstances that followed the near collapse of the banking system in late 2008.
During the lecture he gave a detailed economic model of how policy should respond to the amount of slack in the economy, which he said better captured uncertain estimates of the state of the economy, as well as the scope of stronger growth to boost its ability to overcome supply bottlenecks and avoid accelerating inflation.
A lively question and answer session followed the lecture, and comments made during his speech have featured prominently in this morning’s media.
Among the coverage includes articles in The Daily Telegraph, The Guardian and The Morning Star.
Professor Graham Room, who is leading the Institute for Policy Research’s interdisciplinary team, said: “This was an excellent event and we are very grateful to Professor Miles for his time. His insightful analysis of monetary policy has generated plenty of discussion and debate both during the evening and since in the media.
“This lecture is a perfect example of the Institute’s mission to recognise and explore the interdependence of social, economic, environmental, security, and fiscal policies.”
Institute for Policy Research
The University’s Senate and Council formally approved the establishment of the Institute for Policy Research with effect from 1 February 2013.
An interdisciplinary team led by Professor Graham Room of the Department of Social & Policy Sciences is now planning a public launch in May.