Consequently, many households may have to cut their spending quite substantially, especially when faced with large and persistent shocks like those that occurred during the Great Recession, a finding that would be in line with much of the research undertaken by Richard Blundell.
To the students who will be the focus of this fair over the next three days, I encourage you to be as open and as inquisitive as you wish to be as you move from booth to booth. I hope, too, that you see this event as a veritable investment in our future-yours, the Bank’s and the country’s.