Lukasz Rachel
Former Bank of England economist and assistant professor of economics at University College London, specializing in secular stagnation, R-star, and monetary–fiscal interactions.
Best podcasts with Lukasz Rachel
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19 snips
Nov 17, 2025 • 52min
Lukasz Rachel on Non-Ricardian Macroeconomic Policy and Its Implications for Inflation
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.
Dec 4, 2025 • 33min
Is the neutral rate of interest going to start climbing after years of decline?
Lukasz Rachel, an Assistant Professor at University College London and author on the natural rate of interest, dives into the significance of the neutral rate of interest, or r*. He traces r*'s decline from the 1970s and discusses how demographics and slower growth have contributed to this trend. Rachel outlines six potential scenarios, including the impact of AI, that could reverse the decline, potentially raising r* again. The conversation reveals essential implications for policymakers and the broader economy.
