National Institute Economic Review articles from July 1998

National Institute Economic Review archives from July 1998

The UK economy.
July 1, 1998... Section I. Recent developments and summary of the forecast Two of the most significant policy changes made by the government since coming to office are the transfer to the Bank of England of the power to set interest rates and the announcement...

The world economy.
July 1, 1998... Section I. Recent economic developments Summary Developments in the Asian economies have clearly begun to be felt in the wider global economy in recent months. It has always been expected that the OECD economies would be affected by the...

Commentary. (United Kingdom's economy)
July 1, 1998... The economy has just experienced two unexpected policy announcements. The first was the raising of the interest rate by 1/4 per cent in June, and the second was the announcement by the Chancellor of the Exchequer that from April 1999 public...

The UK economy. (includes related article on long-run monetary policy)
July 1, 1998... * New public expenditure plans will keep interest rates and the exchange rate higher than previously expected. * Public sector net borrowing will run at over 1 per cent of GDP in the next three fiscal years. * The risk of joining EMU...

Fiscal report. (UK's Economic and Fiscal Strategic Report)
July 1, 1998... I The public finances The fiscal position The government believes that current spending can be allowed to grow by 2 1/4 per cent per annum over the three fiscal years beginning next April. In addition, net investment is set to double to...

The world economy. (includes related article on Japanese yen and Chinese yuan)
July 1, 1998... * The Asia crisis will cut world trade growth by over a third in 1998. * The Japanese economy will contract by 1 per cent this year, prolonging the slump in the worst affected parts of South-East Asia. * A strong monetary stimulus and...

Financial crisis in east Asia: bank runs, asset bubbles and antidotes. (includes related articles on Indonesia, multiple equilibria and 1987 stock market crash)
July 1, 1998... "Theories without facts are empty: facts without theories are blind." Immanuel Kant in the Critique of Pure Reason 1. Introduction What is so special about the East Asian crisis? Radelet and Sachs (1998a, p.1) provide a graphic answer as...

Raising schooling attainments by grouping pupils within each class.
July 1, 1998... The object of this Note is to caution against accepting, at least in the context of English schooling policy, conclusions drawn by a group of Canadian educational researchers from their survey (a 'meta-analysis' - as they call it) of a mass of...

The implications of the Boskin Report. (Advisory Commission To Study The Consumer Price Index)
July 1, 1998... 1. Introduction(1) The Advisory Commission To Study The Consumer Price Index delivered its final report to the body which had set it up, the Committee on Finance of the US Senate, at the end of 1996. For brevity I shall refer to this as the...

Labour costs and employment policy.
July 1, 1998... Introduction Western European governments have tried to tackle problems of high and persistent unemployment in recent years against a background of severe economic limits to available policy menus. Under the dominance of German macroeconomic...

Large-scale EMU: the May Council decisions and implications for monetary policy.
July 1, 1998... The selection of EMU participants On 2 May 1998 the Council of the European Union, meeting in the special composition of Heads of State or Government (HoSoG), confirmed by means of a Council Decision that eleven Member States - Belgium,...