New views on r*: are higher interest rates here to last?
Join us for an insightful panel discussion on new views on r*, the natural rate of interest.
Charles Goodhart, Lukasz Rachel, and Ricardo Reis will discuss the contrasting views offered by their recent research on what r* is today, how it has changed relative to a few years ago, and what it will be in a few years. In the process, they will debate what are the drivers of interest rates, and how to best use the concept of r* for monetary and fiscal policy.
Meet our speakers and chair
Charles Goodhart, CBE, FBA was the Norman Sosnow Professor of Banking and Finance at LSE until 2002; he is now an Emeritus Professor in the Financial Markets Group there. Before joining LSE in 1985, he worked at the Bank of England for seventeen years as a Monetary Adviser, becoming a Chief Adviser in 1980. During 1986, Goodhart helped to found, with Mervyn King, the Financial Markets Group at LSE.
Lukasz Rachel (@lukaszrachel) is an assistant professor in Economics at University College London and a Co-Director of the UCL Policy Lab. He is an affiliate of the Centre for Macroeconomics at LSE and a member of both Dobrobyt na Pokolenia (Prosperity for Generations) and The International Working Group on Russian Sanctions (the Yermak-McFaul Stanford Group). Lukasz has also held previous positions at Princeton University, Harvard University and the Bank of England.
Ricardo Reis (@R2Rsquared) is the A.W. Phillips Professor of Economics at LSE. Recent honours include the 2022 Carl Menger prize, the 2021 Yrjo Jahnsson medal, election for the Econometric Society in 2019, the 2017 BdF/TSE junior prize, and the 2016 Bernacer prize. He is an academic consultant at the Bank of England, the Riksbank, and the Federal Reserve Bank of Richmond, directs the Centre for Macroeconomics, and serves on the council or as an advisor of multiple organisations.
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.
Hashtag for this event: #LSECFM
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