The UK Economy in the Long Expansion and Its Aftermath

ISBN-13: 9781316602058 / Angielski / Miękka / 2020 / 464 str.

Jagjit S. Chadha; Alec Crystal; Joe Pearlman

Opis

Not enough attention has been paid to the long business cycle expansion that started in 1992 and provided an exceptional period of macroeconomic stability in the UK. This book brings together senior macroeconomists to look at what policy-making lessons can be learned from this period of expansion.

Spis treści

Introduction Jagjit Chadha, Alec Crystal, Joe Pearlman, Peter Smith and Stephen Wright; 1. Prospects for UK growth in the aftermath of the financial crisis Nicholas Oulton; 2. Labor market and monetary policy reforms in the UK: a structural interpretation of the implications Francesco Zanetti; 3. Property income and the balance of payments Tomas Key, Varun Paul, Martin Weale and Tomasz Wieladek; 4. UK broad money growth in the long expansion, 1992–2007: what can it tell us about the role of money? Michael McLeay and Ryland Thomas; 5. An old fashioned banking crisis: credit growth and loan losses in the UK, 1997–2012 Alistair Milne and Justine A. Wood; 6. Household debt and spending in the United Kingdom Philip Bunn and May Rostom; 7. MPC decision making, the long expansion and the crisis: integration with the global economy, heterogeneity and network dynamics Arnab Bhattacharjee and Sean Holly; 8. Nine votes, one view and the never-ending consensus on the MPC during the great stability Richard Barwell; 9. Emerging markets and import prices during the long expansion John Lewis and Jumana Saleheen; 10. UK fiscal policy before the crisis Paul Johnson.