National Institute Economic Review articles from January 2003

National Institute Economic Review archives from January 2003

The world economy. (At A Glance...).
January 1, 2003... * The world recovery will be sluggish, with global GDP increasing by 3.3 per cent a year in both 2003 and 2004. * The American economy will grow by 2.6 per cent in 2003 and by 3.1 per cent in 2004. * Prospects for the Euro Area have...

The UK economy. (At A Glance...).
January 1, 2003... * GDP will grow by 2.2 per cent in 2003 and by 2.4 per cent in 2004. * Consumer spending growth will rise by 3.2 per cent in 2003, down from 3.7 per cent last year. * The main drag on the economy will be net exports which will reduce...

Commentary.(Column)
January 1, 2003... Introduction The Pre-Budget Report has put into sharp focus the risks that the Government's economic strategy now faces and the short-term position seems to have worsened since then. Fiscal policy rests on the assumption that the shortfall...

The world economy.
January 1, 2003... Section I. Recent economic developments Risks of a US driven slowdown in world activity have receded in the past few months, as US consumer demand remains robust. However, a worsened outlook for Germany and Japan suggests that the recovery...

The UK economy.
January 1, 2003... The production of this forecast is supported by the Institute's Corporate Members: Arcadia Group plc, Bank of England, Barclays Bank plc, Dixons plc, Ernst and Young LLP, GlaxoSmithKline, INVESCO Europe Ltd, Marks and Spencer plc, Morgan...

Asymmetric labour markets in a converging Europe: do differences matter?
January 1, 2003... In this paper we investigate whether differences we observe in European labour market transmission mechanisms matter for monetary policy design. We are particularly concerned with the robustness of the choice of rule by the European Central...

Economic policy coordination in the European union.
January 1, 2003... There are differing views about the need for economic policy coordination in the EU and about the adequacy of the system that has evolved under EMU. This article examines the case for such policy coordination, then describes and assesses the...

Comparing bear markets - 1973 and 2000.
January 1, 2003... In nominal terms, the fall in global share prices since 1999/2000 bears a close resemblance to that experienced worldwide in the years following 1972/3. This article seeks to compare the two periods of market weakness in the G-7 countries in...

Business cycles and turning points: a survey of statistical techniques.
January 1, 2003... The business cycle has an importance in the popular debate which can tend to run ahead of the problems in measuring it. This paper provides a survey of the main statistical techniques that are used to measure the cycle. An application to the UK...

Statistical appendix.(Illustration)
January 1, 2003... STATISTICAL APPENDIX 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 [pounds sterling] billion, 1995 prices, seasonally adjusted ...