Thursday, December 07, 2006
Visiting professor
Posted by David Smith at 09:00 PM
Category: Thoughts and responses

Cardiff University has done me the great honour of awarding me an honorary visiting professorship, which makes me very proud. There is, as you would expect, no such thing as a free lunch but I am very much looking forward to delivering some lectures there next year. One of the topics, as we approach the 10th anniversary of Bank of England independence, will be an assessment of its record. We all know what the advantages have been, but what about the disadvantages? Has the stability of target inflation transferred instability elsewhere? Has the Bank been responsible for the house-price boom? Discuss.

Comments

Congratulations, David.

I would have thought one of the disadvantages of targeting inflation is that the MPC may at some point be forced to induce a recession in order to meet the target. Since Cardiff’s students won’t have seen a real recession you could let them know just how bad a recession really is. That then raises the question as to whether the MPC would be allowed to go through with it. Or will politics intervene when the going gets tough?

Posted by: Sandid at December 8, 2006 11:00 AM

Well done, guess we should be calling you Prof from now on.

Posted by: Werewolves at December 8, 2006 06:55 PM