Consumption and Interest Rates

The CEPR is the premier network of academic economists in Europe, serving as an interface between academia and the policy community. Straddling these two worlds as I do now, I can think of no better organization to host an event like this and I am grateful for the efforts of CEPR staff in making this happen. I would also like to take this opportunity to acknowledge the contribution of Richard Portes – founder and President of CEPR – who has kindly agreed to chair this meeting. Richard deserves immense credit for his commitment to building up CEPR which has strengthened the economics profession in Europe enormously.