Professor Stephen Millard
Professor Stephen Millard is a Senior Economist at the Bank of England working in the Structural Economic Analysis Division within Monetary Analysis, where he contributes to the Bank's conjunctural and forecast-related analysis and research, helping to ensure that this research and analysis is disseminated to, and is useful for, the Monetary Policy Committee. In addition, his role involves coordinating economic research across the division, and, more broadly, to promote and encourage research across the Bank, and to develop and maintain contacts outside the Bank, especially within UK acadaemia. He has a PhD from Northwestern University, where he studied with Nobel Laureate Dale Mortensen.
Please note that the views expressed in the publications below are those of the authors and do not necessarily reflect those of the Bank of England.
- Macroeconomic modeling (in particular, of Inflation dynamics)
- Labour economics
- Technological change and growth
- Time series econometrics
- Haldane, A., Millard, S.P. & Saporta, V.S. (2008). The future of payment systems. Routledge.
- Faccini, R., Millard, S.P. & Zanetti, F. (2013). Wage rigidities in an estimated dynamic, stochastic, general equilibrium model of the UK labour market. Manchester School 81(S1): 66-99.
- Lipinska, A. & Millard, S.P. (2012). Tailwinds and headwinds: How does growth in the BRICs affect inflation in the G7? International Journal of Central Banking 8: 227-266.
- Kamber, G. & Millard, S. (2012). Using estimated models to assess nominal and real rigidities in the United Kingdom. International Journal of Central Banking 8(4): 97-119.
- De Walque, G., Jimeno, J., Krause, M., Le Bihan, H., Millard, S.P. & Smets, F. (2010). Some macroeconomic and monetary policy implications of new micro evidence on wage dynamics. Journal of the European Economic Association 8: 506-513.
- Gai, P., Kapadia, S. Millard, S.P. & Perez, A. (2008). Financial innovation, macroeconomic stability and systemic crises. Economic Journal 118: 401-426.
- Batini, N., Harrison, R. & Millard, S. P. (2003). Monetary policy rules for an open economy. Journal of Economic Dynamics and Control 27: 2059-2094.