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National Institute Economic Review articles from October 1996
Quarterly publication publishes research, commentary and forecasts on economic and social issues, includingeconomic modeling and analysis, productivity and competitiveness and education and training.
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National Institute Economic Review archives from October 1996
The risks in rushing EMU's fences. (European Monetary Union)
October 1, 1996... The past twelve months have witnessed a transformation of prospects for the creation of economic and monetary union in Europe. 1995 had seen periodic exchange rate turbulence, deteriorating public finances, rising unemployment and signs of...
Economic prospects and policy recommendations. (United Kingdom)
October 1, 1996... The current state of the economy is much more satisfactory than it has been for many years. After growth at slightly below the trend rate in 1996, we expect output to rise by over 3 per cent in 1997 and 1998. Unemployment is falling; we expect...
The UK economy.
October 1, 1996... Section I. Recent Developments and Summary of the Forecast
The development of the UK economy over the past four years has been marked by a very favourable and unexpected combination of steady growth and low inflation with prices growing on...
The UK public finances: past experience and future prospects.
October 1, 1996... Introduction
One of the more troubling aspects of economic performance in the UK since the recession has been the persistence of high levels of public sector borrowing. Borrowing reached a peak of 7.1 per cent of GDP in 1993-94 and has since...
The world economy.
October 1, 1996... Section I. Recent Economic Developments
Introduction
There was a pause in growth in a number of European economies around the end of 1995, with weak domestic demand leading to moves to return stocks to more normal levels. This was...
Moving towards EMU: the challenges ahead. (European Monetary Union)
October 1, 1996... 1. Progress on Convergence
Nominal convergence
In a mood of what must now be regarded as excessive optimism, the authors of the Maastricht Treaty (the Treaty on European Union, herein referred to as 'the Treaty') believed that Stage 3 of EMU...
Fiscal policy and EMU. (European Monetary Union)
October 1, 1996... 1. Introduction
If monetary union goes ahead in Europe (or in part of it) this must, whether countries like it or not, involve a comprehensive change in the framework of macroeconomic policy formation - a change in regime. Clearly, a key issue...
A reconsideration of the optimum currency area approach: the role of external shocks and labour mobility.
October 1, 1996... 1. Introduction
Discussions of the economic costs and benefits of EMU usually take as their basis the optimum currency area approach. This approach starts from the premise that when an external shock hits the economy it is easier to adjust the...