18  See, for example, Procyclicality and Structural Trends in Investment Allocation by Insurance Companies and Pension Funds, A Discussion Paper by the Bank of England and the Procyclicality Working Group, July 2014. 7  The regulatory agenda is crowded and is moving fast. Andy has greatly contributed to shaping it in the past.
His creativity and eclectic approach to economics, and his ability to be provocative in a clever, constructive way, have been an asset to the policy making community. I have little doubt that they will be equally valuable in the future. We need, more than ever, people who can think ‘out of the box’ and actively spur the debate.