David Walton
Encyclopedia
David Robert Walton was a British
economist
, and a member of the Bank of England
's Monetary Policy Committee
from July 2005 until his death in June 2006.
Walton gained a BA
in Economics and Politics with first class honours at Van Mildert College
, Durham University
in 1984. After graduating Walton took a position at HM Treasury
working as an economist. He held this position until 1986 when he left to pursue an MA
in Economics at University of Warwick
, in which he gained a distinction. He joined the economics team at Goldman Sachs
in 1987. In 2003 he was appointed as their Chief European Economist and as the Chairman of the Society of Business Economists
. In 2005 became a Visiting Research Professor at the University of Oxford
's Economics Department, and joined the Bank of England's Monetary Policy Committee.
David Walton died on June 21, 2006 after contracting necrotising fasciitis, possibly occurring from the urinary tract. In his final meeting, Walton was the only member preferring an increase in the interest rate, the other seven members voting to maintain the rate at 4.5%. Walton had also been the only member supporting such an increase in the previous month's meeting.
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
, and a member of the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
's Monetary Policy Committee
Monetary Policy Committee
The Monetary Policy Committee is a committee of the Bank of England, which meets for two and a half days every month to decide the official interest rate in the United Kingdom . It is also responsible for directing other aspects of the government's monetary policy framework, such as quantitative...
from July 2005 until his death in June 2006.
Walton gained a BA
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in Economics and Politics with first class honours at Van Mildert College
Van Mildert College
Van Mildert College, commonly known as Mildert, is a college of the University of Durham in England. Founded in 1965, it takes its name from William Van Mildert, Prince-Bishop of Durham from 1826 to 1836 and a leading figure in the University's 1832 foundation.Van Mildert College occupies grounds...
, Durham University
Durham University
The University of Durham, commonly known as Durham University, is a university in Durham, England. It was founded by Act of Parliament in 1832 and granted a Royal Charter in 1837...
in 1984. After graduating Walton took a position at HM Treasury
HM Treasury
HM Treasury, in full Her Majesty's Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the British government's public finance policy and economic policy...
working as an economist. He held this position until 1986 when he left to pursue an MA
Master of Arts (postgraduate)
A Master of Arts from the Latin Magister Artium, is a type of Master's degree awarded by universities in many countries. The M.A. is usually contrasted with the M.S. or M.Sc. degrees...
in Economics at University of Warwick
University of Warwick
The University of Warwick is a public research university located in Coventry, United Kingdom...
, in which he gained a distinction. He joined the economics team at Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
in 1987. In 2003 he was appointed as their Chief European Economist and as the Chairman of the Society of Business Economists
Society of Business Economists
The Society of Business Economists is an organisation serving business economists in the UK. It publishes the journal The Business Economist .Notable members include:*Vicky Pryce*DeAnne Julius*Lord Burns*Richard O'Brien*Andrew Sentance...
. In 2005 became a Visiting Research Professor at the University of Oxford
University of Oxford
The University of Oxford is a university located in Oxford, United Kingdom. It is the second-oldest surviving university in the world and the oldest in the English-speaking world. Although its exact date of foundation is unclear, there is evidence of teaching as far back as 1096...
's Economics Department, and joined the Bank of England's Monetary Policy Committee.
David Walton died on June 21, 2006 after contracting necrotising fasciitis, possibly occurring from the urinary tract. In his final meeting, Walton was the only member preferring an increase in the interest rate, the other seven members voting to maintain the rate at 4.5%. Walton had also been the only member supporting such an increase in the previous month's meeting.