Download or read book United Kingdom written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2018-11-14 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper estimates the long-run economic impact of Brexit on the United Kingdom under two distinct assumptions for the post-Brexit relationship between the United Kingdom and the European Union. These illustrative scenarios entail different degrees of higher trade costs, a more restricted European Union migration regime and reduced foreign inward investment. A standard multicountry and multisector computable general equilibrium model is used to quantify the impact of higher trade barriers. There is substantial sectoral heterogeneity in the impact, and regions with higher concentrations of the more affected sectors are likely to confront greater losses. The empirical analysis suggests the speed of sectoral labor relocation across sectors has been relatively low in the UK. Irrespective of these empirical estimates, policies, such as retraining, would be critical to facilitate faster adjustment of the economy to the post-Brexit equilibrium thereby helping to minimize the associated costs to individuals and in aggregate.
Download or read book United Kingdom written by Fonds monétaire international and published by . This book was released on 1998 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Kingdom Selected Issues written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Kingdom written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-07-11 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: United Kingdom: Selected Issues
Download or read book United Kingdom written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-03-13 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper analyzes the impact of globalization inflation and relative prices over the last decade in the United Kingdom. The IMF’s Global Economy Model is used to estimate the relative importance of the various factors argued to have influenced the evolution of inflation and relative prices over this period. The key result is the significantly different impact of the shock on relative prices in the United Kingdom compared with the United States and the Euro area. The paper also explores the likely evolution of the economy after a rise in immigration.
Download or read book United Kingdom written by Fondo Monetario Internacional and published by . This book was released on 2007 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Kingdom Hong Kong written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-07-16 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper reviews the key institutions and arrangements for economic policymaking that were expected to be put in place following the transfer of sovereignty over Hong Kong to China in 1997. International treaties between Britain and China from the nineteenth century are reviewed. The paper discusses Hong Kong’s current and future constitutional documents—the Letters Patent and Royal Instructions, and the Basic Law, respectively. The paper also provides a background on the system of government in Hong Kong in 1997.
Download or read book United Kingdom Selected Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2003-03-03 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper examines the factors determining housing prices in the United Kingdom. Based on econometric evidence, the paper assesses whether recent housing price increases can be explained by fundamentals or whether they represent a temporary overshooting of housing prices, characteristic of a bubble. The paper estimates a simple error-correction model that describes the dynamics of real housing prices since the 1970s. Estimation results suggest that earnings and interest rates are the key determinants of housing prices, and that changes in real housing prices exhibit a large degree of persistence.
Download or read book United Kingdom written by International Monetary Fund and published by . This book was released on 2011-08-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Download or read book United Kingdom written by Fondo Monetario Internacional and published by . This book was released on 2007 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Kingdom written by Fondo Monetario Internacional and published by . This book was released on 2001 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy Issues in the UK written by Agnese Carella and published by International Monetary Fund. This book was released on 2024-07-24 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: After hiking rates 14 consecutive times between December 2021 and August 2023 to arrest above-target inflation, the Bank of England (BoE) has held rates at 5.25 percent since then. As the BoE prepares for easing, this paper examines three concurrent monetary policy questions: (a) how have the macroeconomic and financial effects of BoE monetary tightening during the current cycle compared with experiences in other major advanced economies (AEs), and with previous UK tightening cycles; (b) what is the impact of US Fed decisions on UK monetary transmission, and the attendant implications thereof for BoE communications; and (c) how do model-based predictions of UK monetary policy paths (which seek to stabilize inflation and the output gap) compare with staff’s recommended path in the 2024 Article IV consultation. We find that (a) monetary transmission has largely mirrored previous episodes (and experiences in other major AEs), with the most notable exception of the mortgage channel, which has been slower due to a higher share of fixed-rate mortgages; (b) an outsized impact of Fed announcements on UK financial markets places a premium on BoE communications in a context where the BoE may diverge from the Fed; and (c) optimal rate path predictions are close to staff’s recommended path, although if the BoE attached a high weight to concerns about a prolonged period of above-target inflation leading to de-anchoring of inflation expectations, a slower pace of cuts would be warranted. A technical assistance mission from the IMF's Statistics Department visited Cambodia during April 10-21, 2023, to support the authorities in continuing to improve the compilation and dissemination of government finance statistics (GFS) and public sector debt statistics (PSDS).
Download or read book United Kingdom written by and published by . This book was released on 2005 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Kingdom written by Julio Escolano and published by . This book was released on 2002 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Kingdom written by International Monetary Fund and published by International Monetary Fund. This book was released on 2000-01-01 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper addresses issues that arise in designing a framework for inflation targeting, with particular attention to features of the Bank of England's approach and experience. The comparison of welfare reform in the United Kingdom with similar efforts in other countries is discussed. The paper reviews the recent literature and empirical evidence on the main economic considerations influencing possible U.K. entry into the European Monetary Union (EMU). The U.K. labor market has undergone institutional and structural changes contributing to an increase in both aggregate and relative wage flexibility.
Download or read book United Kingdom Selected Issues written by Julio Escolano and published by . This book was released on 2003 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Spending Pressures in the UK written by Andrew Hodge and published by International Monetary Fund. This book was released on 2024-07-24 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper characterizes UK public spending pressures over a ten-year horizon and their implications for public deficits and debt levels. The analysis is based on a ‘bottom-up’ scenario for total public expenditure, that includes, inter alia, implementation of the NHS Long-Term Workforce Plan, public investment to support the Balanced Pathway to Net Zero, and state pension spending under the Triple Lock policy. This scenario is approximately consistent with IMF staff’s baseline projection for the medium term (to FY2029/30) shown in the 2024 Article IV consultation staff report, which assumes real growth in Departmental Expenditure Limits (DEL) of two percent per year after FY2024/25. Assuming revenue stabilizes in FY2028/29 at the level projected by IMF staff (40.8 percent of GDP), public debt does not stabilize over ten years, reaching 101.3 percent of GDP by FY2034/35. Stabilizing debt will require the primary balance to be 0.8–1.4 ppts of GDP higher per year (on average after FY2024/25), depending on the time horizon for stabilization (5 or 10 years) and the target probability of debt stabilization (50 or 75 percent).