National Institute Economic Review articles from January 2005

National Institute Economic Review archives from January 2005

Economy overview.
January 1, 2005... * The economy will grow by 2.7 per cent in 200S and by 2.8 per cent in 2006. * Consumer spending will grow by 1.8 per cent in 2005 and by 1.4 per cent in 2006. * There will be a turnaround in net trade: in 2004, it reduced GDP growth...

Commentary: the UK economy.(economic performance)
January 1, 2005... I. UK economic performance OECD estimates published earlier this month, but for 2003, (1) show that gross domestic product (GDP) per capita in the United Kingdom has consolidated its position ahead of the other big European economies. The...

Trend growth and rising inflation.(world economy forecast)
January 1, 2005... World Growth Growth in the world economy slowed somewhat during 2004 as the US, China and Japan all approached full capacity, and the second and the third quarters of 2004 saw relatively lower growth in these economies. We anticipate that...

Increasing imbalances in North America.(economic conditions and gross domestic product)
January 1, 2005... GDP growth in North America remained robust during the second half of last year. However, the continuing depreciation of the US dollar is likely to increase the gap in output growth between the region's two largest economies. Private...

Softening growth but improving fundamentals in Asia.(The World Economy)
January 1, 2005... Economic growth across Asia slowed in the third quarter of last year as the export driven expansion cycle reached its peak in the second quarter of 2004. Year-on-year GDP growth for the newly industrialised economies of Taiwan, South Korea and...

Europe and the Euro Area: poised for domestic growth?(The World Economy)
January 1, 2005... Economic activity in the Euro Area remains heavily dependent upon external conditions, leaving it vulnerable to changes in global growth and exchange rates. However, the conditions are in place for a domestically driven recovery to develop over...

Dollars and deficits--the US current account deficit and its exchange rate consequences.(The World Economy)
January 1, 2005... The path of the dollar In the past three years the US dollar has been declining whilst the US current account deficit has expanded, and these two developments are clearly linked. However, the causes of the decline in the dollar and the...

Prospects for the UK economy.(The UK Economy)
January 1, 2005... 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, Marks and Spencer plc, The National Grid Company plc, Nomura Research Institute Europe Ltd,...

The sterling effective exchange rate and other measures of UK competitiveness.(The UK Economy)
January 1, 2005... Movements in exchange rates attract much attention, both for the signals they may contain about future inflation prospects and for their implications for the competitiveness of firms. However, movements in bilateral exchange rates, for instance...

Fiscal policy: institutions versus rules.(Research Articles)
January 1, 2005... Fiscal discipline is as much needed as monetary discipline. Many countries have attempted to counter the deficit bias by adopting fiscal rules that typically set a limit to their annual budget deficits. The record is not satisfactory: rules are...

Are we saving enough? The macroeconomics of the savings gap.(Research Articles)
January 1, 2005... We assess the adequacy of saving in the United Kingdom from a macroeconomic perspective. We present conditions needed for wealth to grow in line with income and discuss the circumstances in which capital gains can represent a substitute for...

Policy design and macroeconomic stability in Europe.(Research Articles)
January 1, 2005... Macroeconomic policy in Europe is now oriented to creating a stable environment in which the scope for output growth is enhanced. However, we maintain that not all dimensions of a stability-oriented policy framework appear to be in place....

Paying for university: the impact of increasing costs on student employment, debt and satisfaction.(Research Articles)
January 1, 2005... The costs of higher education in the UK have shifted increasingly from the state to the student (and students' families). In 1998, a fee contribution of 1,000 [pounds sterling] per annum was introduced for new entrants to full-time degree...

Statistical appendix.
January 1, 2005... 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, 2001 prices, seasonally adjusted ...