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Articles by Miltos Makris
CPI Inflation, July 2021
Main points The CPI inflation rate was 2.0% in June 2021, down from 2.5% in June. This decrease of -0.5% was due to the old inflation dropping out (May-June 2020), often referred to as a “base effect”. There was no new inflation between June and July 2021, with the price index remaining constant. The new monthly inflation rate for June-July of 0% follows on after three successive months of high monthly inflation (at 0.5-0.6% for March-April, April-May and May-June).
Effective COVID-19 policy is not only about public health, but also about economics
The COVID-19 crisis has upended the lives of many, causing almost 200M global infections to date, over 4M deaths and untold damage to the livelihoods of millions. Although the recent vaccine rollout in some parts of the world offers some room for optimism, the epidemic is still far from defeated and many in the developing world are still at significant risk of infection.
Bank Chief Economist: Manager or Thought Leader?
The Bank of England is searching for a new Chief Economist, and the formal deadline for applications was Wednesday 2 June. But what is the Bank’s Chief Economist expected to do? And what skills and qualifications does he or she need? After all, the Bank has lots of economists. What special responsibilities does our central bank need a Chief Economist to carry out? The role of Chief Economist at the Bank formally came into being when Mervyn King was appointed in 1991.
Managing the transition to a post-vaccine world
Vaccines against COVID-19 are on the horizon; now is the time to manage the transition rationally The prospect of an effective vaccine to Covid-19 in the near term makes it important to understand private and public incentives to suppress infection. This column examines how the prospect of a vaccine alters individuals’ incentives to self-protect between now and the arrival of the vaccine, and how a benevolent social planner would prefer individuals to self-protect.
Accounting for individual actions could change the way lockdowns are
Covid-19 and social distancing: Accounting for individual actions could change the way lockdowns are designed Social distancing fits well in the economist’s analytical framework. This column discusses how epidemiological models can be enriched with individual social distancing decisions. Preliminary simulations show how an epidemic could be influenced by the interaction of private decisions and government measures on social distancing.
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