The Miller Effect is a generally negative consequence of broadband circuitry due to the fact that bandwidth is reduced when capacitance increases. The Miller effect is common to inverting amplifiers with negative gain. Miller capacitance can also limit the gain of a transistor due to transistors’ parasitic capacitance. A common way to mitigate the Miller Effect, which causes an increase in equivalent input capacitance, is to use cascode configuration. The cascode configuration features a two stage amplifier circuit consisting of a common emitter circuit feeding into a common base. Configuring transistors in a particular way to mitigate the Miller Effect can lead to much wider bandwidth. For FET devices, capacitance exists between the electrodes (conductors) which in turn leads to Miller Effect. The Miller capacitance is typically calculated at the input, but for high output impedance applications it is important to note the output capacitance as well.
Interesting note: the Miller effect can be used to create a larger capacitor from a smaller one. So in this way, it can be used for something productive. This can be important for designing integrated circuits, where having large bulky capacitors is not ideal as “real estate” must be conserved.