Jagjit Singh Chadha ( Punjabi: ਜਗਜੀਤ ਸਿੰਘ ਚਢਾ, born 1 December 1966 in West Yorkshire) is a British economist who is the Director of the

National Institute of Economic and Social Research The National Institute of Economic and Social Research (NIESR), established in 1938, is Britain's oldest independent economic research institute. The institute is a London-based independent UK registered charity that carries out academic researc ...

Research Interests

His research interests are in monetary theory, macroeconomic stabilisation and the history of business cycles and financial evolution. He is particularly interested in the role of financial intermediation as a source and propagation mechanism for economic shock

Views on Current Economic Policy

He is an advocate of flexible inflation targeting with central bank communications involving statements on the paths of policy rates under different scenarios.
"An Open letter to Andrew Bailey"
He has been highly critical of the duration and size of the Central Bank QE programmes.
Financial Times, 9th June 2022
He has long argued for a complete rehaul of the fiscal framework and its deployment of arbitrary and malleable rules.
"Designing a New Fiscal Framework: Understanding and Confronting Uncertainty", National Institute of Economic and Social Research Occasional Paper no.61
His work during Covid regularly outlined how the lack of a plan and objective led to policy drift.
Commentary: Whither After Covid-19 and Brexit: A Social Science Perspective. from UK Economic Outlook Winter 2021 (NIESR)

Education and Professional History

Prior to taking up his position at NIESR in 2016, he was Professor and Chair in Money and Banking in the Department of Economics at the

University of Kent The University of Kent (formerly the University of Kent at Canterbury, abbreviated as UKC) is a Collegiate university, collegiate public university, public research university based in Kent, United Kingdom. The university was granted its roya ...

. He was concurrently Professor of Commerce at

Gresham College Gresham College is an institution of higher learning located at Barnard's Inn Hall off Holborn in Central London, England that does not accept students or award degrees. It was founded in 1597 under the Will (law), will of Sir Thomas Gresham, ...

from 2014-18 and was Chair of the Money, Macro and Finance Research Group from 2011 to 2017 (no
Money Macro and Finance Society
and has acted as a specialist adviser to the

Treasury Select Committee The House of Commons Treasury Committee (often referred to as the Treasury Select Committee) is a select committee of the House of Commons in the Parliament of the United Kingdom. The committee is responsible for examining and scrutinizing the ...

on several occasions. He is also a part-time, Visiting Professor of Economics at

Cambridge University The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, wo ...

. Chadha obtained his education from

The John Lyon School John Lyon School (prior to 1965 The Lower School of John Lyon) is an academically selective private co-educational day school for pupils aged 3 to 18 in Harrow on the Hill, Greater London, England. The school was founded in 1876, by the Gove ...

followed by an undergraduate degree from

University College London University College London (Trade name, branded as UCL) is a Public university, public research university in London, England. It is a Member institutions of the University of London, member institution of the Federal university, federal Uni ...

culminating with a Master’s degree from the

London School of Economics The London School of Economics and Political Science (LSE), established in 1895, is a public research university in London, England, and a member institution of the University of London. The school specialises in the social sciences. Founded ...

. He then became an advisor and researcher at the

Bank of England The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one ...

working on monetary economics, in particular on the interaction of financial markets and monetary regimes. Chadha was appointed

Officer of the Order of the British Empire The Most Excellent Order of the British Empire is a British order of chivalry, rewarding valuable service in a wide range of useful activities. It comprises five classes of awards across both civil and military divisions, the most senior two o ...

(OBE) in the

2021 Birthday Honours The Queen's Birthday Honours for 2021 are appointments by some of the 16 Commonwealth realms of Queen Elizabeth II to various orders and honours to reward and highlight good works by citizens of those countries. The Birthday Honours are awarded ...

for services to economics and economic policy.

Advisory Roles

Chadha has acted as an academic adviser to

HM Treasury His Majesty's Treasury (HM Treasury or HMT), and informally referred to as the Treasury, is the Government of the United Kingdom’s economic and finance ministry. The Treasury is responsible for public spending, financial services policy, Tax ...

, the Bank of England, the

and other policy-making institutions outside the UK, in particular the Bank for International Settlements. He is the current Editor of the series ''Modern Macroeconomic Policy-making'' published by

Cambridge University Press Cambridge University Press was the university press of the University of Cambridge. Granted a letters patent by King Henry VIII in 1534, it was the oldest university press in the world. Cambridge University Press merged with Cambridge Assessme ...

. And is the managing editor of the National Institute Economic Review. Jagjit sat on the

ESRC The Economic and Social Research Council (ESRC), formerly the Social Science Research Council (SSRC), is part of UK Research and Innovation (UKRI). UKRI is a non-departmental public body (NDPB) funded by the UK government. ESRC provides fundin ...

’s research committee and then on its Strategic Advisory Network. He is also an executive member of the Productivity Institute and chairs the Productivity Commission. He was elected to the Council of the

Royal Economic Society The Royal Economic Society (RES) is a professional association and learned society that promotes the study of economics. Originally established in 1890 as the British Economic Association, it was incorporated by royal charter on 2 December 1902. ...

in 2019 for a five year term. Over his time at NIESR, the Economic Statistics Centre of Excellence (ESCoE) was established at NIESR with the ONS in 2019. He is a lead Editor of the Economics Observatory and on the Advisory Council of the Bennett Institute. NIESR set up th
UK Business Cycle Dating Committee in 2018
with Chadha as Chair.

Media and Opinions

He appears regularly as a commentator on economics on BBC, ITV, Channel 4, Sky News and Bloomberg. His Op-Eds have appeared in the FT, Guardian, Spectator, New Statesman, Prospect, the Times, Independent and Central Banking. Selected videos:
Interview
�with Liam Halligan on Channel 4's " Dispatches" in February 2021
Discussion
on Channel 4 in Darlington on the cost-of-living crisis Chadha has appeared twice on special editions of "

University Challenge ''University Challenge'' is a British television quiz programme which first aired in 1962. ''University Challenge'' aired for 913 episodes on ITV from 21 September 1962 to 31 December 1987, presented by quizmaster Bamber Gascoigne. The BBC ...

Publications

* ''The Money Minders: The Parables, Trade-off and Lags of Central Banking'' (Cambridge University Press, 2022) * ''The Euro in Danger, with Michael Dempster and Derry Pickford'' (Searching Finance, 2012) * ''Modern Macroeconomic Policy Making'' (Cambridge University Press, 2010) * ''Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium'' , co-edited with Sumru Altug and Charles Nolan (Cambridge University Press, 2003)

References

External links

All past Gresham College lectures on Gresham College

The Economics of the Business Cycle by Jagjit ChadhaVideos interviews with Jagjit Chadha
{{DEFAULTSORT:Chadha, Jagjit 1966 births Living people Academics of the University of Kent Academics of the University of Southampton Academics of the University of St Andrews Alumni of the London School of Economics Alumni of University College London BNP Paribas people British Sikhs Fellows of Clare College, Cambridge People associated with the Bank of England Academics of Gresham College Officers of the Order of the British Empire