Revisiting the 3D Perspective on Low Long Term Interest Rates

Hosted by the Centre For Macroeconomics and the Department of Economics

Online public event


Dr Gertjan Vlieghe

Dr Gertjan Vlieghe


Baroness Shafik

Baroness Shafik

Gertjan Vlieghe's term as an external member of the Bank of England Monetary Policy Committee comes to an end in August. Join us for his final lecture as a member of the MPC.

In this speech, Dr Vlieghe will consider what we have learned in the past five years about some of the persistent structural drivers of low neutral interest rates, such as demographics, debt and the distribution of income. Considerable new research has been published in these areas, both theoretical and empirical, which explores these drivers, including the extent to which they are interlinked. Since these developments constrain the available monetary policy space, Dr Vlieghe then considers how monetary policy should be set in a constrained environment, as well has how these constraints could be lifted to ensure the effectiveness of future monetary policy.

Meet our speaker and chair

Gertjan Vlieghe is a member of the Monetary Policy Committee of the Bank of England. Prior to his appointment he was a partner and senior economist at Brevan Howard Asset Management. Prior to this he has held positions at Deutsche Bank and the Bank of England including Economic Assistant to Governor Mervyn King. Dr Vlieghe's published research has focused on the importance of money, balance sheets and asset prices in the economy. He holds a doctorate from the London School of Economics and Political Science.

Minouche Shafik is Director of the London School of Economics and Political Science. Prior to this, she was Deputy Governor of the Bank of England. She is an alumna of LSE.

More about this event

The Centre For Macroeconomics (@CFMUK) is a research centre that brings together a group of world class experts to carry out pioneering research on the study of nations’ prosperity, and the crises that afflict them, helping to design policies that will create a healthier and more resilient economy.

The Department of Economics (@LSEEcon) at LSE, is one of the leading economics departments in the world. We are a large department, ensuring all mainstream areas of economics are strongly represented in research and teaching.

Twitter Hashtag for this event: #LSEVlieghe


A transcript of Dr Gertjan Vlieghe's speech is available to download from Revisiting the 3D Perspective on Low Long Term Interest Rates.


A copy of Dr Gertjan Vlieghe's slides is available to download from Revisiting the 3D Perspective on Low Long Term Interest Rates.

Live captions

Automated live captions will be available at this webinar. Once you join the Zoom webinar, you will be able to show or hide the subtitles by clicking on the “Live Transcript - CC” button, from where you can also change the font size and choose to view the full transcript. Please note that this feature uses Automatic Speech Recognition (ASR) technology, or machine generated transcription, and is not 100% accurate.


We aim to make all LSE events available as a podcast subject to receiving permission from the speaker/s to do this, and subject to no technical problems with the recording of the event. Podcasts are normally available 1-2 working days after the event. Podcasts and videos of past events can be found online.

Social Media

Follow LSE public events on Twitter for notification on the availability of an event podcast, the posting of transcripts and videos, the announcement of new events and other important event updates. Event updates and other information about what’s happening at LSE can be found on the LSE's Facebook page and for live photos from events and around campus, follow us on Instagram. For live webcasts and archive video of lectures, follow us on YouTube

LSE in Pictures is a selection of images taken by the school photographer.

From time to time there are changes to event details so we strongly recommend that if you plan to attend this event you check back on this listing on the day of the event.