Media
Back
Existing monetary policies generally target the inflation rate. Professor Minford will discuss new research published in the latest Economic Journal. He argues that making the policy target the level of prices would bring significant benefits to the economy by reducing indexation of wages, which is damaging to economic stability. He will also discuss the application of such a policy in the context of deflation, where price level targeting has the noted advantage that prices will be expected to return to their target level. This creates an expectation of rising prices, which has the effect of stimulating spending in the deflationary situation, until prices have returned to target. Hence, the price level target builds in an extra stabiliser against deflationary shocks.
Professor Patrick Minford has held numerous Economic Adviser Posts for prominent organizations such as the Ministry of Overseas Development in London, and the H.M. Treasury Delegation of the British Embassy in Washington D.C. He was awarded a PhD in Economics in 1973. Professor Minford became Director of Merseyside Development Corporation in 1998. He was a member of the Monopolies and Mergers Commission and Member of H.M. Treasury Panel of Independent Economic Forecasters (‘6 Wise Men’). He also became a member of the Academic Council of Economic Affairs and of the Academic Advisory Board – Institute of Economic Affairs. Professor Minford has published numerous books and articles on exchange rates, unemployment, housing and macroeconomics and occasionally writes for The Daily Telegraph. He was awarded a CBE in January 1996 for his services to economics.
Members of the press and interested members of the public are cordially invited to attend. For enquiries, please contact Ms. Leona Kwok / Ms. Angelina Hung of Hong Kong Institute of Economics and Business Strategy at 2548 9300.
Professor of Applied Economics at Cardiff University to deliver lecture at HKU
13 Mar 2003
Professor Patrick Minford of Cardiff University is to deliver a public lecture entitled Should Monetary Policy Target the Price Level? at 6:00 pm on Wednesday, March 19th, 2003 at Rayson Huang Theatre, the University of Hong Kong. The lecture is jointly organised by The Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong (HKU), Hong Kong Institute for Monetary Research, and British Council and is sponsored by Cardiff University, School of Economics and Finance at the University of Hong Kong and Welsh Development Agency.
Existing monetary policies generally target the inflation rate. Professor Minford will discuss new research published in the latest Economic Journal. He argues that making the policy target the level of prices would bring significant benefits to the economy by reducing indexation of wages, which is damaging to economic stability. He will also discuss the application of such a policy in the context of deflation, where price level targeting has the noted advantage that prices will be expected to return to their target level. This creates an expectation of rising prices, which has the effect of stimulating spending in the deflationary situation, until prices have returned to target. Hence, the price level target builds in an extra stabiliser against deflationary shocks.
Professor Patrick Minford has held numerous Economic Adviser Posts for prominent organizations such as the Ministry of Overseas Development in London, and the H.M. Treasury Delegation of the British Embassy in Washington D.C. He was awarded a PhD in Economics in 1973. Professor Minford became Director of Merseyside Development Corporation in 1998. He was a member of the Monopolies and Mergers Commission and Member of H.M. Treasury Panel of Independent Economic Forecasters (‘6 Wise Men’). He also became a member of the Academic Council of Economic Affairs and of the Academic Advisory Board – Institute of Economic Affairs. Professor Minford has published numerous books and articles on exchange rates, unemployment, housing and macroeconomics and occasionally writes for The Daily Telegraph. He was awarded a CBE in January 1996 for his services to economics.
Members of the press and interested members of the public are cordially invited to attend. For enquiries, please contact Ms. Leona Kwok / Ms. Angelina Hung of Hong Kong Institute of Economics and Business Strategy at 2548 9300.
Facebook 
HKU IOS App 
HKU Android App 
Social Media and Apps