The latest thinking of UK macroeconomists

Migration and the UK economy August 2014

Summary

This month’s survey focuses on the impact of migration on the UK economy and the effectiveness of current government migration policies. Among respondents to the fifth monthly survey of the Centre for Macroeconomics (CFM), there is overwhelming support for the view that migration will increase the average income of current UK inhabitants. Moreover, the panel of experts thinks that current government policies are not effective in attracting the ‘best and brightest’ – in fact, they may even be doing the opposite.

UK House Prices and Macro-Prudential Policy July 2014

Summary

How should UK policy-makers respond to potential dangers to the economy from the housing market? As this survey reports, a majority of respondents to the fourth monthly survey of the Centre for Macroeconomics (CFM) think that house price dynamics do pose a risk to the UK’s recovery; and that macroprudential tools rather than traditional interest rate policy should be deployed to deal with this risk.