HISTORIC PRESS RELEASE : Appointment of Christopher Allsopp to Monetary Policy Committee [May 2000]

The press release issued by HM Treasury on 4 May 2000.

Christopher Allsopp has been appointed to the Bank of England’s Monetary Policy Committee (MPC), the Chancellor Gordon Brown announced today. He will take up his membership of the MPC on 1 June. Mr Allsopp will replace Professor Charles Goodhart whose three-year term as a member of the MPC expires on 31 May.

Mr Allsopp is currently a Reader in Economic Policy and Fellow in Economics at New College, Oxford. A specialist in international macroeconomics, Mr Allsopp’s previous experience includes work at the OECD in Paris and 3 years as Adviser at the Bank of England as well as consultancy appointments with overseas Governments and many other UK and international organisations.

Mr Allsopp is currently a member of the Bank’s Court of Directors. As required by the Bank of England Act 1998, he will resign his membership of the Court before taking up his position on the MPC.

Gordon Brown said:

“I am delighted that Christopher Allsopp has agreed to join the Monetary Policy Committee. His long and distinguished academic career will enable him to make an invaluable contribution to the work of the MPC.

“I am very grateful to Charles Goodhart for his outstanding contribution to the Committee’s work over the last three years, and wish him well.”

CURRICULUM VITAE

Christopher John Allsopp MA, B.Phil. (Econ)

Personal Details

Date of Birth: 6 April 1941.  Married with 3 children.

Address:   New College, Oxford, OX1 3BN.

Education

Exhibitioner, Balliol College, Oxford University, 1960-65.

Student of Nuffield College, Oxford, 1965-66.

BA/MA Natural Science (Physics), Oxford, 1963.

B.Phil. (Economics), Oxford 1966.

Present Positions

Fellow in Economics, New College, Oxford, 1967 –

Lecturer 1967 – , then Reader in Economic Policy, Oxford University.

Member of the Court of Directors, Bank of England, 1997 –

Director, Oxford Economic Forecasting

Editor, Oxford Review of Economic Policy, 1985 –

Main Previous Appointments/Activities

Full-time

HM Treasury, Economic Assistant, 1966-67.

Head of Economic Prospects Division, OECD, Economics and Statistics Department, Paris, 1973-1974 and Editor, OECD Economic Outlook (on leave from New College and Oxford University).

Adviser, Bank of England 1980-83.  (On leave from New College and Oxford University).

Part-time and Consultancy

Consultant, HM Treasury, 1967-70.

Consultant to the OECD, working on problems of price stability and employment in the medium term, 1975-77.  (Including background studies and drafting input for, McCracken et al.

?Towards Full Employment and Price Stability?.  OECD 1976 (The ?McCracken Report).

Chairman, St James? Group (Economist/EIU Economic Forecasting Group), 1977-81.

Founder member of group set up to launch the Oxford Review of Economic Policy, 1983 founding Editor. 1985 to present.

Consultant, World Bank and commission for the Restructuring of the Economic Systems, Beijing, China, January 1988.  (With Sir Alec Cairncross).

Independent Consultant for the Swedish International Development Agency and the Government of the Republic of Zambia, 1988-89.  (Working on Exchange Rate Policy and Stabilisation in Zambia).

Consultant, OECD, Manpower and Social Affairs Department, Paris, 1989-90.

Economic Adviser to the Minister of Planning, Government of Poland, 1990-91.  (Coordinator of project financed by the Joint Assistance Committee for Easter Europe of the UK Overseas Development Administration (the ?Know-how Fund?))

Ford Foundation: Member of research project on Financial Reform in China, 1991.

Delegate, International Symposium: Financial Reform in China, Hainan Island, China, Dec 1991.

(Conference sponsored by CRES/World Bank/UNDP).

Delegate, International Symposium on China’s Financial Reform and the banking System, Dalian, China, 1993 June.

Adviser on International Prospects and Strategy: HD International, 1988-94; Mercury Asset Management, 1995-96: Norwich Union Investment Management, 1996 – present.

|Publications

The following is a selective list of Mr Allsopp’s important recent work.

?Monetary and Fiscal Policy in the 1980s?, Oxford Review of Economic Policy, Vol 1, No.1, 1985.

?The International Debt Crisis (with V R Joshi), Oxford Review of Economic Policy, Vol 2, No.1, 1986.

?Exchange Rate Economics? (with A Crystal), Oxford Review of Economic Policy, Vol 5, No.3, 1989.

?UK Fiscal Policy: Responsible or Irresponsible??, John Deutsch Institute of Public Policy, Kingston, Ontario, 1990.

?The Balance of Payments and International Economic Integration (with T Jenkinson and T O?Shaughnessy), Oxford Review of Economic Policy, Vol 6 No.3, 1990.

?Monetary Policy and Monetary Reform in China?, International Conference on Macroeconomic Management, Dalian, China; published, World Bank, 1994.

?Macroeconomic Reform and Control in China?, Oxford Review of Economic Policy, 1995.

?Fiscal Policy and EMU? (with D Vines), National Institute Economic Review, 1996, 4.

?Monetary and Fiscal Stabilisation of Demand Shocks within Europe? (with G Davies, W McKibbon, D Vines).  In, C Deissenberg, R F Owen, D Ulph, (eds), European Economic Integration, Blackwells, special supplement to the Review of International Economics, 5(4), 55-56, 1997.

?Economics of Transition in East and Central Europe?.  (With H Kierskovsky).  Oxford Review of Economic Policy Vol 13.2, 1997.

?European Unemployment and EMU? Employment Policy Institute, 1997, Nov.

?Macroeconomic Policy after EMU? (with D Vines).  Oxford Review of Economic Policy, Vol 14, No.3, Autumn 1998 pp 1-23.

?Real Interest Rates?.  (With A Glyn) Oxford Review of Economic Policy, Vol 15, No.2.  Summer 1999 pp 1-16.