United Kingdom: Selected Issues

International Monetary Fund

No 2007/090, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
Pages: 35
Date: 2007-03-05
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Citations: View citations in EconPapers (1)

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