National Productivity Week 27th January 2025 | Visit Website

A diverse community of
leading experts, policymakers
and practitioners

The Institute’s key research themes
are led by ten academic partners
spread across the UK.

We’re a UK-wide research
organisation exploring what
productivity means for business

Businesses are crucial to solving
the UK’s productivity problems.

Professor Stephen Millard

Deputy Director (Macroeconomics and Forecasting) at NIESR

Research Theme: Macroeconomics Trends and Policy


Stephen’s research interests are centred around macroeconomics in general and central banking in particular. They include monetary and macroprudential policy; labour, employment and wages; inflation dynamics; and the implications of climate change and climate policy for monetary policy and the macroeconomy. Before moving to NIESR, he spent 26 years at the Bank of England.

Research project Productivity implications of the move to Net Zero