Lukasz Rachel

Dr. Lukasz Rachel is an Assistant Professor of Economics at University College London (UCL) and Co-Director of the UCL Policy Lab. He holds affiliations with the Centre for Macroeconomics and the Prosperity for Generations expert group. His research focuses on macroeconomic theory, applied economics, and the political economy of sanctions. Rachel earned his PhD, master's, and undergraduate degrees in economics from the London School of Economics (LSE). He served as a postdoctoral fellow at Princeton University and a Fulbright Scholar at Harvard. Prior to academia, he worked at the Bank of England from 2008 to 2021.

His work addresses topics such as secular stagnation, automation's impact on inequality, monetary policy design, and the economics of sanctions. Recent contributions include analyzing the efficacy of price caps on Russian oil exports and modeling the macroeconomic effects of epidemics. Rachel’s research integrates theoretical frameworks with empirical analysis, emphasizing long-term economic trends and policy implications.

• Education: PhD, MSc, BSc in Economics (LSE)
• Key Affiliations: Centre for Macroeconomics, Stanford Expert Group on Sanctions on Russia, Dobrobyt na Pokolenia
• Prior Experience: Bank of England (2008–2021), Princeton University Postdoc (2021–2022)

His articles explore themes like global real interest rates, the interplay between technology and labor markets, and the design of stabilization policies. Notable works include The Second Wave (2024) and On Secular Stagnation in the Industrialized World (2019). Rachel has received the Fulbright Fellowship and contributed to high-profile policy initiatives, such as the G7’s price cap on Russian oil.

• Awards: Fulbright Fellow
• Policy Roles: Member of the Yermak-McFaul Stanford Group on Sanctions