Lukasz Rachel

Lukasz Rachel, a former Bank of England economist and current assistant professor at University College London, dives into the nuances of modern macroeconomic policy. He examines secular stagnation and its impact on R-star, revealing how demographic and public-sector trends shape interest rates. Lukasz also discusses non-Ricardian fiscal policy, arguing that it complicates monetary dynamics and can lead to inflation. He emphasizes the need for better coordination between fiscal and monetary policies to tackle these challenges effectively.