United Kingdom : Selected Issues

1GBREA2005002 Image
Price:  $15.00

Release Date: © March, 2005
ISBN : 978-1-45181-428-6
Stock #: 1GBREA2005002
English
Stock Status: On back-order

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Description

The Selected Issues paper examines the dynamics of the inflation process in the United Kingdom, particularly the influence of external shocks. The paper provides a brief summary of existing empirical work. It presents the expectations-augmented Phillips curve model used in the analysis. The basic conclusion is that low inflation in recent years can be explained reasonably well by a combination of increased competitive pressures. The paper also presents some estimates of the degree of possible overvaluation in housing prices and outlines the links between housing prices and the macroeconomy.

Taxonomy

Economic policy , Inflation , Monetary policy




More publications in this series: IMF Staff Country Reports