United Kingdom: Selected Issues

March 7, 2002

Preview Citation

Format: Chicago

United Kingdom: Selected Issues, (USA: International Monetary Fund, 2002) accessed December 27, 2024

Summary

This Selected Issues paper examines from an empirical standpoint the impact of fiscal aggregates on the evolution of output and the real effective exchange rate in the United Kingdom from the late 1970s to the present. It finds that the size of the dynamic fiscal multipliers is small, and often statistically nonsignificant. The paper also finds that the direction of the impact of taxes and government consumption, but not of social transfers, is, if anything, the reverse of that predicted by standard Keynesian models.

Subject: Consumption, Fiscal policy, Foreign exchange, Government consumption, Household consumption, National accounts, Real exchange rates

Keywords: Appreciation, Consumption, Consumption growth, CR, Equilibrium RER, Government consumption, Government consumption, Household consumption, Household consumption, ISCR, Productivity, Real exchange rates, Response function

Publication Details

Pages:

74
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2002/046
Stock No:

1GBREA0022002
ISBN:

9781451814163
ISSN:

1934-7685

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