United Kingdom: Selected Issues
March 3, 2006
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This Selected Issues paper on the United Kingdom reviews the IMF's Global Economy Model, which incorporates energy to examine the impact of rising energy prices on the United Kingdom. The model incorporates energy as a final consumption good as well as a primary input in the production process. With energy entering the production process, increases in energy costs affect overall aggregate supply capacity as firms reduce output and factor-utilization rates given the real increase in their cost structures.
Subject: Consumption, Energy prices, Energy pricing, Expenditure, Health care spending, Inflation, National accounts, Prices
Keywords: consumer spending, Consumption, consumption growth, CR, credit derivative, energy price, Energy prices, Energy pricing, Europe, GDP, Global, health care, Health care spending, Inflation, ISCR, price, U.K. economy, U.K. fiscal policy framework, U.K. health system, U.K. population
Pages:
138
Volume:
2006
DOI:
Issue:
087
Series:
Country Report No. 2006/087
Stock No:
1GBREA2006002
ISBN:
9781451814309
ISSN:
1934-7685
