National Institute Economic Review articles from May 1995

National Institute Economic Review archives from May 1995

Economic prospects and policy recommendations.
May 1, 1995... Economic conditions continue to improve, with growth at a satisfactory rate and inflation subdued, whether one considers the UK in particular or the world economy in aggregate. This cheerful prospect may be threatened however by financial...

Lessons from America. (comparing the UK and US economies)
May 1, 1995... In addition to our coverage of the United States as part of the world economy programme, four recent or current projects at the Institute involve comparisons between Britain and America. The main focus is on labour market institutions,...

The UK economy. (includes related article)
May 1, 1995... Section I. Recent Developments and Summary of the Forecast The sterling exchange rate was unusually stable in the two years following its departure from the ERM in September 1992. In effective terms it fluctuated within a fairly narrow range...

The world economy. (includes related articles)
May 1, 1995... Section I. Recent Economic Developments The pattern of real exchange rates has changed significantly since February. Our currency forecasts at that time were in line with the implied forward rates in financial markets, with the yen projected to...

Do UK price indexes overstate inflation?
May 1, 1995... Official price indexes may overstate (or understate) inflation for a number of reasons. These include substitution bias, outlet bias, failure to allow properly for quality change, and failure to allow for new goods. This note finds that...

Economic and monetary union in a multi-tier Europe.
May 1, 1995... It is now looking increasingly plausible that, at some point between the middle of 1997 and the beginning of 1999, a number of EC Member States (perhaps even a majority) will move to the final stage of Economic and Monetary Union. The macro...