About Stephen Nickell
Sir Stephen John Nickell, is a British economist and former warden of Nuffield College, Oxford, noted for his work in labour economics with Richard Layard and Richard Jackman. Nickell and Layard hypothesised that the tendency for reduced unemployment to lead to inflation resulted from its effect on competitive bargaining in the labour market He is currently a member of the Office for Budget Responsibility's Budget Responsibility Committee. He was a postgraduate student at the London School of Economics, where he was awarded a Master of Science degree and was awarded the Ely Devons Prize. I don't know, but it won't be very big.' The Bank of England estimated that by Q1 2009, due to declining house prices, 7% of owner-occupied mortgagors were in negative equity, equivalent to around 700,000 households. In July 2008 he was awarded an honorary Doctor of Science degree by the University of Warwick.
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