Apart from its research projects the Institute carries on the forecasting and modelling work which Professor Minford began at Liverpool University, producing forecasts and policy analysis of the UK and other major economies.
The Institute’s work has been given special relevance in recent times by the ongoing discussions on the extra powers regularly requested by the European Union and also by the recent crisis in the Eurozone. Its research further extends across international trade, money and banking, international finance and econometrics, in collaboration with around twenty academics, mostly in Cardiff, and some thirty PhD students.
The main focus of planned work in the coming few years is the economies of the UK and Europe, their inter-relationship and their relationships with the rest of the world, especially the US. From the UK viewpoint, Europe has become a dominant policy issue. The Institute wishes to deepen knowledge of just what the effects of different policies would be – monetary, financial and supply side effects.
The Institute also holds an Annual Lecture in Cardiff, sponsored by Hodge Bank, on important policy issues of the day. The Institute’s first Annual Lecture was delivered in 2000 by Sir Alan Walters, former Chief Economic Adviser to Mrs (now Lady) Thatcher. Subsequent lecturers have included Professor Otmar Issing, member of the Board of the European Central Bank and Sir Alan Budd, a previous Chief Economic Adviser to H.M.Treasury. The topics have included monetary policy, climate change, flat taxes in Eastern Europe to the issue of growth in Wales.