United Kingdom: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 090

Publication date: March 2007

ISBN: 9781451978438

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Inflation , Labor , Economics- Macroeconomics , ISCR , CR , earnings , price , bank , goods price inflation , fiscal policy decision , output gap variability , U , K , output gap , inflation expectation , Inflation , Migration , Foreign banks , Output gap , Commercial banks , Asia and Pacific , Global

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Summary

This Selected Issues paper analyzes the impact of globalization on United Kingdom’s inflation and relative prices over the last decade. The IMF’s Global Economy Model (GEM) is used to estimate the relative importance of the various factors argued to have influenced the evolution of inflation and relative prices over this period. The key result is the significantly different impact of the shock on relative prices in the United Kingdom compared with the United States and the Euro area.