National Institute Economic Review articles from October 1998

National Institute Economic Review archives from October 1998

At a glance ...: the UK economy.
October 1, 1998... * The economy will grow at 1.1 per cent in 1999, but manufacturing output will decline by 0.5 per cent and there is a one in three chance of outright recession. * Cuts in interest rates to 5.75 per cent by the end of 1999 together with...

The world economy.
October 1, 1998... * The most likely outlook for the world economy in 1999 is a marked slowdown, with growth slackening in the OECD from 2.4 to 1.8 per cent. * But there is also a high probability that further shocks to financial markets could induce a...

Commentary: The UK and the world liquidity crisis.
October 1, 1998... The world economy Over the last three months the state of the international economy has attracted considerable attention, and the changes in the world economy have been the main cause of the slight reduction in our predicted value for...

The UK economy.
October 1, 1998... Section I. Recent developments and summary of the forecast There has been a very sharp deterioration in confidence about the economic situation in the UK over the past three months. This has been highlighted in a range of business and...

Recent economic developments.(The World Economy, section 1)
October 1, 1998... The economic outlook for the global economy has deteriorated appreciably over the past six months. By the late spring it had already become clear that growth in the OECD economies would slow to around 2 1/2 per cent this year from 3 per cent in...

Prospects for North American and Japan.(The World Economy, section 2)
October 1, 1998... United States The US economy continued to expand strongly in the first half of this year. GDP rose by 2 per cent compared to the latter half of last year, broadly in line with the pace of growth observed throughout 1997. The unemployment...

Prospects for Europe.(The World Economy, section 3)
October 1, 1998... Economic growth in the EU area rose markedly last year. Output expanded by more than 3 per cent in over half of the member countries, although growth was notably slower in the larger economies. The outlook continued to improve in the first half...

Financial market contagion and the effects of the crises in East Asia, Russia and Latin America.
October 1, 1998... I. Introduction The Asian crisis has had a marked effect on the world economy over the past fifteen months. Private sector demand has collapsed in the affected economies and reinforced the effects arising from the deflationary forces in...

The working families tax credit.
October 1, 1998... Gordon Brown's first Budget as Chancellor signalled a new emphasis on microeconomic relationships in economic policymaking. Whereas in the past there has been implicit acknowledgement that macroeconomic policy relies on appropriate responses in...

The dollar, trade, technology and inequality in the USA.
October 1, 1998... 1. Introduction The USA experienced a considerable increase in inequality during the 1980s, with the major increase in inequality occurring within industries.l Although several studies have investigated the possible causes of this decline...

Recent shifts in wage inequality and the wage returns to education in Britain.
October 1, 1998... 1. Introduction Since the late 1970s wage inequality has risen at a rapid rate in Britain, and the 1980s were characterised by the rich substantially improving their labour market position, with the poor falling sharply behind. But what...