From central banking to Gresham College: meeting the economist decoding Britain's economic journey
In short: How did the UK shift from 1990s confidence to modern stagnation? Professor Jagjit Chadha, a former Director of NIESR and an OBE recipient, explores the policy pitfalls, missed warnings, and political decisions that shaped three turbulent decades of economic history.
Jagjit Chadha brings a rare blend of academic rigor and practical experience to the study of macroeconomics. His career spans roles as Chief Quantitative Economist at BNP Paribas, work within the Bank of England on monetary policy, and academic positions at the University of Kent, the University of St Andrews, and Cambridge. As the new Commerce Professor at Gresham College, he applies this breadth of knowledge to explain the complex monetary systems and financial markets that define our era.
His research delves into the intricate links between finance and macroeconomics, particularly through general equilibrium models. He has investigated the consequences of quantitative easing on financial market prices and authored 'The Money Minders,' an examination of the central banking world. His lecture series at Gresham College have historically tackled critical themes, ranging from the intersection of art and science in monetary policy to the economic aftermath of the financial crisis and the implications of Brexit.
Chadha’s analysis of the UK's economic trajectory from 1990 to 2024 highlights a period marked by both boom and bust. He points to the unplanned exit from the EU as a source of prolonged uncertainty that stalled recovery from the financial crisis. Furthermore, he argues that the UK's economic challenges—including inflation shocks and austerity—are compounded by a lack of long-term strategic thinking and a political culture that often prioritizes managing public opinion over the 'boring' work of national transformation.
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Sources
- Summary by Intellect · source: Getting to know Jagjit Chadha
- Also: niesr.ac.uk — Jagjit S Chadha - NIESR
- Also: Speaker spotlight: Professor Jagjit S. Chadha | University of Cambridge
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