National Institute Economic Review articles from April 2004

National Institute Economic Review archives from April 2004

At a glance ...
April 1, 2004... The world economy * Growth in global GDP will gather momentum, rising from 3.5 per cent in 2003 to 4.2 per cent this year. * Strong growth in the US will underpin the world recovery: American GDP will rise by 4.3 per cent in 2004. ...

Commentary: the UK economy.
April 1, 2004... Introduction The past year has seen a resumption of optimism about economic growth in the United Kingdom and the United States while there is concern that, in the Euro Area what had been expected a few months ago to be a mild recovery will...

The world economy.
April 1, 2004... Recent Developments World output growth accelerated by 1/2 a percentage point in 2003 relative to 2002, to 3.5 per cent. This was a return to the average growth rate seen in the last 10 years, following two years of below trend growth. The...

Prospects for the UK economy.(The UK Economy)
April 1, 2004... The production of this forecast is supported by the Institute's Corporate Members: Abbey plc, Bank of England, Barclays Bank plc, Ernst and Young LLP, GlaxoSmithKline plc, Marks and Spencer plc, Morgan Stanley Dean Witter (Europe) Ltd, Morley...

Simulating household savings and labour supply: an application of dynamic programming.
April 1, 2004... This paper describes a fully behavioural microsimulation model that has recently been developed at the National institute for considering responses to changes in pension policy of household savings and labour supply. The model generates...

The effects of an increase in petrol excise tax: the case of New Zealand households.
April 1, 2004... This paper reports estimates of the potential welfare effects of hypothetical increases in the petrol excise tax in New Zealand. Equivalent variations, for a range of household types and total expenditure levels, are obtained along with...

Economic performance in France, Germany and the United Kingdom: 1997-2002.
April 1, 2004... We assess the performance of France, Germany and the United Kingdom over the period 1997-2002. Gross and net output per hour worked are considerably lower in the UK than in France and Germany. GDP in France and the UK have grown at the same...

The volatility of the output gap in the G7.
April 1, 2004... We investigate declining output volatility in the G7 since 1970 in a panel context, seeking to explain the causes of the decline. We show that there is a significant role for both net financial wealth and trade openness as well as inflation...

Statistical appendix.(statistics of economic growth)(Illustration)
April 1, 2004... Data are included up to the end of the latest quarter, if they are available at the time of going to press. Table 1. Gross domestic product billion [pounds sterling], 2000 prices, seasonally adjusted Final...