Prime, Policy Research in Macroeconomics

In this article I look mainly at the UK’s GDP position. While the ONS first estimate for Q1 2022 shows that it is now 0.6% higher than the pre-pandemic peak in Q3 of 2019, this is entirely down to increased government consumption and investment, mainly health-related. But for this real-terms increase, the economy (measured in GDP) would be some 2% smaller now, even before the cost-of-living crisis hits us fully, and before government and Bank of England tighten fiscal and monetary policy...

This article first appeared in the Indian journal Economic and Political Weekly on 19 March 2022.Russian Invasion of UkraineThe Russian invasion of Ukraine started on 24 February 2022. Since then, several thousand combatants from both sides and more than 500 Ukrainian civilians have died, bombs have ruined many cities, and more than two million Ukrainians, half of them children, left the country to become refugees. And the sweeping sanctions the West imposed on Russia in response not only...

This article first appeared in the Indian journal Economic and Political Weekly on 19 March 2022. Russian Invasion of Ukraine The Russian invasion of Ukraine started on 24 February 2022. Since then, several thousand combatants from both sides and more than 500 Ukrainian civilians have died, bombs have ruined many cities, and more than two million Ukrainians, half of them children, left the country to become refugees. And the sweeping sanctions the West imposed on Russia in response not only...

This article first appeared in the Indian journal Economic and Political Weekly on 19 March 2022.Russian Invasion of UkraineThe Russian invasion of Ukraine started on 24 February 2022. Since then, several thousand combatants from both sides and more than 500 Ukrainian civilians have died, bombs have ruined many cities, and more than two million Ukrainians, half of them children, left the country to become refugees. And the sweeping sanctions the West imposed on Russia in response not only...

The following article is based on my speech notes for a presentation to University College London’s Global Business School for Health on 22nd February 2022. The webinar was titled: Health Innovation through Capital and Private Equity Markets webinar.The question panellists were asked to address was this: “….whether capital and private equity markets are actually driving forward better and sustainable health innovation?”I argued that private capital and private equity markets – far from...

The following article is based on my speech notes for a presentation to University College London’s Global Business School for Health on 22nd February 2022. The webinar was titled: Health Innovation through Capital and Private Equity Markets webinar.The question panellists were asked to address was this: “….whether capital and private equity markets are actually driving forward better and sustainable health innovation?”I argued that private capital and private equity markets – far from...

The following article is based on my speech notes for a presentation to University College London’s Global Business School for Health on 22nd February 2022. The webinar was titled: Health Innovation through Capital and Private Equity Markets webinar. The question panellists were asked to address was this: “….whether capital and private equity markets are actually driving forward better and sustainable health innovation?” I argued that private capital and private equity markets – far from...

Many years ago, on family holiday in Wales, a problem arose when my father tried to turn our car and caravan around in an urban street.  A man noted generally for his calmness, Dad had got out and started looking at whatever the problem was.  My brother and I (ages 14 and 12) stayed in the back seat chatting away inconsequentially but, it seems, annoyingly.  Suddenly, Dad’s patience broke – “GET OUT AND DO SOMETHING!” he boomed.  Unaccustomed to such temper-induced imperatives, we leapt out...

Many years ago, on family holiday in Wales, a problem arose when my father tried to turn our car and caravan around in an urban street.  A man noted generally for his calmness, Dad had got out and started looking at whatever the problem was.  My brother and I (ages 14 and 12) stayed in the back seat chatting away inconsequentially but, it seems, annoyingly.  Suddenly, Dad’s patience broke – “GET OUT AND DO SOMETHING!” he boomed.  Unaccustomed to such temper-induced imperatives, we leapt out...

Many years ago, on family holiday in Wales, a problem arose when my father tried to turn our car and caravan around in an urban street.  A man noted generally for his calmness, Dad had got out and started looking at whatever the problem was.  My brother and I (ages 14 and 12) stayed in the back seat chatting away inconsequentially but, it seems, annoyingly.   Suddenly, Dad’s patience broke – “GET OUT AND DO SOMETHING!” he boomed.  Unaccustomed to such temper-induced imperatives, we leapt out...