United Kingdom: Selected Issues

March 5, 2007

Summary

This Selected Issues paper analyzes the impact of globalization on United Kingdom’s inflation and relative prices over the last decade. The IMF’s Global Economy Model (GEM) 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.

Subject: Banking, Commercial banks, Financial institutions, Foreign banks, Inflation, Migration, Output gap, Population and demographics, Prices, Production, Wages

Keywords: Asia and Pacific, bank, Commercial banks, CR, earnings, fiscal policy decision, Foreign banks, Global, goods price inflation, Inflation, inflation expectation, ISCR, Migration, Output gap, output gap variability, price, U.K. output gap

Pages:
35
Volume:
2007
DOI:
https://doi.org/10.5089/9781451978438.002
Issue:
090
Series:
Country Report No. 2007/090
Stock No:
1GRBEA2007001
ISBN:
9781451978438
ISSN:
1934-7685

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