Wednesday 26 October 2016
Between May 2009 and September 2015 David Miles was a member of the Monetary Policy Committee at the Bank of England. His current research focuses on the setting of monetary policy in the wake of the financial crash and explores the nature of unconventional policy and the links to financial stability.
He is involved with the co-ordination between monetary policy and financial stability. One strand of research which reflects this is on the use of macro-prudential policy tools and, specifically, the setting of bank capital requirements. His March 2013 paper (“Optimal Bank capital”, Economic Journal) explores the appropriate way to set bank capital requirements.
Future work will focus on how liquidity requirements and the setting of monetary policy interacts with capital requirements. His recent paper on unconventional monetary policy (Economic Journal, November 2012) looks at the evidence for the effectiveness of central bank asset purchases and other non-standard policies.
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