Bank of England/MMF/National Institute for Economic and Social Research/The Productivity Institute Workshop on productivity and structural change

This workshop, jointly organised by the Bank of England, MMF, NIESR  and The Productivity Institute is on Productivity and Structural Change, a topic that is particularly pertinent after the still ongoing Covid19 pandemic. This feeds into one of the TPI themes (Macroeconomic Trends and Policy) and is also related to The Transformed World part of the BoE’s Research Agenda. In this hybrid workshop spread over two days, we bring together some recent research that we hope will shed light on some of the issues.

Physical participation is at the Bank of England Conference Centre in Threadneedle Street with simultaneous streaming as an online interactive event.

The MMF is happy to cover travel costs on a first-come first-served basis of UK academic attendees, who cannot obtain funding from their employers.

To register for this event, please sign up here:
Bank of England: workshop on productivity and structural change (

Registration closes on Friday, 19 November, 2021.


Day 1– 14:00-18:00 Thursday 25 November 2021

14:00:    Introduction: Simon Price (MMF and Essex Business School)

14:05:    Introductory remarks by Jonathan Haskel (Imperial College London and Monetary Policy Committee)

14:20:    Keynote address - Chiara Criscuolo (OECD)

15:20:    Break

15:40:    Ethan Ilzetzki (London School of Economics)   Learning by necessity: Government demand, capacity constraints, and productivity growth.
16:15:    Discussant:  Mary O’Mahony (Kings College UL)

16:25:    Luca Fornaro (Universitat Pompeu Fabra) Monetary policy in the age of automation
17:00:    Discussant: Lukasz Rachel (Princeton and University College, London)

17:10:    Michaela Elfsbacka Schmöller (Bank of Finland) Endogenous technology, scarring and fiscal policy
17:45:    Discussant: Dogan Aydan (Bank of England

17:55:    Concluding remarks Day 1

Day 2– 09:00 – 13:15 Friday 26 November 2021

09:00:    Introduction Day 2

09:05:    Ippei Fujiwara (Keio University)  Measuring robot quality: Has quality improvement slowed down?
09:40:    Discussant: Sandra Batten (Bank of England)

09:50:    Sophie Piton (Bank of England) A resilient economy? Business creation in the United Kingdom during COVID-19
10:25:    Discussant: Garry Young (National Institute for Economic and Social Research)

10:35:    Zafer Kanik (University of Glasgow). How automation that substitutes for labor affects production networks, growth, and income inequality.
11:10:   Discussant: Vasco Carvalho (Cambridge)

11:20:    Break

11:40:   Keynote address – John Fernald (INSEAD and Federal Reserve Bank of San Francisco) – Productivity growth after the pandemic

12:40:    Overview - Jagjit Chadha (National Institute for Economic and Social Research and The Productivity Institute)

12:55:   Overview – The BoE perspective: Misa Tanaka (Bank of England)

13:10:   Concluding remarks and thanks: Simon Price (MMF)

Conference website:


Keynote speakers


John Fernald, the Schroders Chair in European Competitiveness and Reform and a Professor of Economics at INSEAD Business School in Fontainebleau.


Chiara Criscuolo, Head of Productivity Innovation and Entrepreneurship Division, OECD.

Organising committee

Cristiano Cantore (BoE and University of Surrey)
Hande Küçük (NIESR)
Stephen Millard (BoE and Durham University Business School)
Simon Price (EBS and MMF)
John Tsoukalas (Adam Smith Business School)


We are grateful for additional financial support from the Adam Smith Business School and Essex Business School.