United Kingdom : Selected Issues

Author/Editor:

International Monetary Fund

Publication Date:

March 8, 2005

Electronic Access:

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Summary:

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.

Series:

Country Report No. 05/81

Subject:

English

Publication Date:

March 8, 2005

ISBN/ISSN:

9781451814286/1934-7685

Stock No:

1GBREA2005002

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

82

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