Work in economics David Blanchflower

1 work in economics

1.1 wage curve
1.2 happiness
1.3 monetary policy committee

work in economics

blanchflower served research officer @ institute employment research @ university of warwick 1984 1986, when became lecturer @ department of economics @ university of surrey, post held until 1989 when moved united states.

he has been member of editorial board of small business economics, scottish journal of political economy, , industrial , labor relations review.

he has been research associate @ centre economic performance @ london school of economics , @ canadian international labour network.

the wage curve

blanchflower s wage curve (with andrew oswald), 8 years of data 4 million people in 16 countries, argued wage curve, plots wages against unemployment, negatively sloping, reversing generations of macroeconomic theory. phillips curve wrong, s fundamental that, said blanchflower. guardian praised findings 1 of devastating findings of contemporary economics . implications, wages highest when unemployment lowest , increased unemployment drives down wages, have been suggested periodically in economics since publication of karl marx s wage-labour , capital.

happiness

much of blanchflower s work has focused on economics of happiness. has posited correlation between age , happiness, declining through 20s, 30s, , 40s before increasing in retirement. has been labelled happiness guru ability quantify increase in happiness individuals married or have sex frequently, work has applications in divorce law , pharmaceutical advertising.

he has been interviewed several times on npr , new hampshire public radio work in area.

monetary policy committee

blanchflower joined bank of england s monetary policy committee in june 2006, replacing stephen nickell. before appointment, michael fallon questioned non-residency @ parliamentary select committee on treasury. blanchflower attended number of meetings conference call. during tenure, voted in minority in eighteen of thirty 6 meetings. voted maintain interest rate in first 9 meetings, reduce interest rates in march 2007 , in every meeting october 2007 through march 2009.

six other members of mpc have served during blanchflower s time on mpc. blanchflower continually voted rate cuts. @ september 2008 mpc meeting, blanchflower distanced himself further consensus voting 0.5% cut against other 8 members hold .

in autumn of 2008, worldwide economic situation began deteriorate dramatically, evidenced dramatic falls in values of shares worldwide. on 8 october 2008, boe took part in set of simultaneously announced cuts in policy rate of number of major central banks. mpc came around blanchflower s view , subsequently lowered rates levels never before seen in bank of england s existence , moved unprecedented levels of quantitative easing.

in march 2009, announced blanchflower replaced david miles @ end of term, 31 may 2009.