Stephen Millard Keynote Speaker

  • Over 26 years at the Bank of England in various critical roles, contributing to monetary analysis and financial market infrastructure.
  • Leadership at the NIESR, guiding the Macroeconomics Directorate and the production of influential economic outlooks and forecasts.
  • Published extensively in leading economic journals and discussion papers, shaping the discourse on central banking, monetary policy, and the macroeconomic implications of global challenges.

Stephen Millard's Biography

Stephen Millard, a preeminent figure in the field of economics, has carved a niche for himself as an expert on labour economics, the pivotal role of central banks, and the profound implications of climate change and climate policy on the macroeconomy. With a remarkable career spanning over 26 and a half years at the Bank of England, Millard’s extensive experience encompasses a wide range of policy, research, and managerial roles within the Monetary Analysis and Financial Market Infrastructure Directorates. His deep understanding of macroeconomics and labour economics is a testament to his dedication and expertise in the field.

In 2022, Millard took on a pivotal role at the National Institute of Economic and Social Research (NIESR), leading the Macroeconomics Directorate. In this capacity, he not only continues to advance his own research but also oversees the production of NIESR’s quarterly UK and Global Economic Outlooks and forecasts. Furthermore, Millard plays a crucial role in formulating the institute’s responses to UK fiscal events, demonstrating his significant influence on economic policy and research.

Millard’s scholarly contributions are both vast and influential. He has published extensively in prestigious journals such as the Economic Journal, the Journal of the European Economic Association, and the Oxford Review of Economic Policy, among others. His recent works delve into critical issues like ‘Sectoral shocks and monetary policy’ and ‘The macroprudential toolkit’, offering valuable insights into the complexities of monetary policy and economic stability. Moreover, Millard has contributed to the academic community through NIESR Discussion Papers on timely topics such as ‘Central Bank communication’ and the economic impacts of Covid-19, as well as through insightful blogs on subjects ranging from measuring potential supply to the effects of Brexit and fiscal policy.

Holding a PhD in economics from Northwestern University, where he had the privilege of studying under the late Nobel Laureate Dale Mortensen, Millard’s academic pedigree is impressive. His commitment to education and knowledge sharing extends beyond his research and policy work; he is a Visiting Professor at both Durham University Business School and the University of Portsmouth. This role enables him to impart his wealth of knowledge and insights to the next generation of economists and policymakers.

Stephen Millard’s distinguished career is marked by his dedication to understanding and addressing the complex interplay between labour markets, central bank policy, and the broader macroeconomic landscape, particularly in the context of global challenges like climate change. His contributions have not only advanced the field of economics but have also provided valuable guidance for policy formulation and economic strategy.

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Stephen Millard's Speaking Topics

  • The implications of climate change and the move to net zero

  • Inflation dynamics and the Phillips curve

  • The labour market, employment and wages

  • Macroprudential policy

  • Central bank communication

  • Monetary policy and the monetary transmission mechanism

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Videos of Stephen Millard

BBC World News
BBC World News
NIESR's Professor Stephen Millard joins CGTN Europe
NIESR's Professor Stephen Millard joins CGTN Europe

Articles, Media & Podcasts

Books by Stephen Millard

The Future of Payment Systems

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