Age, Biography and Wiki

Patrick Minford was born on 17 May, 1943 in Shrewsbury, Shropshire, England, is a British macroeconomist (born 1943). Discover Patrick Minford's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 80 years old?

Popular As N/A
Occupation N/A
Age 80 years old
Zodiac Sign Taurus
Born 17 May 1943
Birthday 17 May
Birthplace Shrewsbury, Shropshire, England
Nationality

We recommend you to check the complete list of Famous People born on 17 May. He is a member of famous with the age 80 years old group.

Patrick Minford Height, Weight & Measurements

At 80 years old, Patrick Minford height not available right now. We will update Patrick Minford's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Who Is Patrick Minford's Wife?

His wife is Rosemary Allcorn (m. 1970)

Family
Parents Not Available
Wife Rosemary Allcorn (m. 1970)
Sibling Not Available
Children Not Available

Patrick Minford Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Patrick Minford worth at the age of 80 years old? Patrick Minford’s income source is mostly from being a successful . He is from . We have estimated Patrick Minford's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income

Patrick Minford Social Network

Instagram
Linkedin
Twitter
Facebook
Wikipedia
Imdb

Timeline

1943

Anthony Patrick Leslie Minford (born 17 May 1943) is a British macroeconomist who is professor of applied economics at Cardiff Business School, Cardiff University, a position he has held since 1997.

1947

Minford was a supporter of the theories of Milton Friedman, a prominent member of the Mont Pelerin Society (MPS) founded in 1947 by a group of 36 scholars meeting in Mont Pelerin, Switzerland.

1974

He was appointed as economics fellow at Manchester University in 1974, becoming editor at the National Institute of Economic and Social Research in 1975, where he began to build the so-called Liverpool Model with Kent Matthews.

Minford and his research team at the University of Liverpool created the Liverpool Model, the first operational rational expectations model of any economy.

This work was concurrent with the early efforts of Fair and Anderson to simulate large nonlinear rational expectations models; it was the first to apply the extended path algorithm (see Fair and Taylor) to a full macro model estimated under rational expectations; and was at the forefront of what came to be known as the 'rational expectations revolution'.

At this time adaptive expectations was the dominant model of expectations formation and rational expectations was greeted with incredulity.

Other work focused on the exchange rate, carrying out model simulations to evaluate the role of floating versus various fixed rate proposals.

More recently, work by Minford and co-authors at Cardiff has focused on indirect inference methods and numerous applied studies of dynamic stochastic general equilibrium (DSGE) models.

These examine modern controversies including bank regulation, quantitative easing, and monetary policy more generally.

Recent monetary policy proposals suggested by this research are the introduction of price level targeting and nominal GDP targeting.

1976

He was Edward Gonner Professor of Applied Economics at the University of Liverpool from 1976 to 1997.

1980

Rational expectations work at Liverpool was used to help craft 1980s Conservative Government policies on inflation (UK monetarism and its link with fiscal policy).

Work by Minford's team at Liverpool was also influential on unemployment policy, especially labour market liberalisation, where the Liverpool Model was the first model to develop a 'supply side' designed to explain the underlying trend or 'natural' unemployment rate.

1981

Minford gained prominence in 1981 when 364 leading economists published a statement criticising Margaret Thatcher's economic policies; Minford replied by defending the Government in The Times.

Thatcher subsequently wrote a letter to Minford to congratulate him.

1988

In 1988 he was appointed a board member of the Merseyside Development Corporation but resigned, saying it had a negative effect on job creation.

He is on the advisory council of Reform.

1990

Work by Minford’s Liverpool team on exchange rates was influential in the 1990s Exchange Rate Mechanism debate and the 2000s debate over joining the euro.

Minford was against Nigel Lawson's policy of pound sterling shadowing the Deutschmark.

He was also against Britain joining the European Exchange Rate Mechanism because he thought it was having a bad effect on recovering from recession and keeping down interest rates.

A confirmed eurosceptic, he is a supporter of the Better Off Out campaign to leave the European Union because he believes that the net economic costs to Britain of its policies are substantial.

He argues that they are in most respects contrary to free market principles and that British citizens had no power to alter them.

1996

Minford was appointed Commander of the Order of the British Empire in the 1996 New Year Honours for services to economics.

2006

Minford was interviewed about the rise of Thatcherism for the 2006 BBC TV documentary series Tory! Tory! Tory! Minford was also a guest at the funeral of Margaret Thatcher in 2013.

2015

Minford said in November 2015 that running simulations of leaving that EU that "the first thing that comes out is an 8% drop the cost of living on day one."

Although this did not occur, Minford blames the volatility the economy since Brexit for making it difficult to find the impact.

2016

In 2016, Minford was a notable member of the Economists for Brexit group which, in opposition to the consensus view of economists, advocated the UK leaving the European Union and claimed large economic benefits, which did not occur.

Born in Shrewsbury, Minford was educated at Horris Hill School, Winchester College, Balliol College, Oxford (BA), and the London School of Economics (MSc; PhD).

He is the elder brother of John Minford, who is an academic and translator of Classical Chinese.

He worked at the Ministry of Overseas Development and then as an economic adviser to the Ministry of Finance of Malawi.

He then took a position as an economic adviser to HM Treasury's External Division.

In 2016, Minford was a notable member of the Economists for Brexit group which supported the referendum campaign for the UK to leave the European Union.

He believes that Brexit could increase GDP by 6.8%, and could reduce prices for British consumers.

Minford favoured the Community Charge or poll tax as a way of keeping down local government spending to levels chosen by local citizens.