United Kingdom: Selected Issues Paper

November 9, 2010

Preview Citation

Format: Chicago

United Kingdom: Selected Issues Paper, (USA: International Monetary Fund, 2010) accessed December 27, 2024

Summary

This paper estimates the extent of spare capacity in the U.K. economy using a range of methodologies pointing to an output gap and the behavior of inflation during large output gaps. The usefulness of fiscal rules in supporting fiscal consolidation is generally positive, and a more permanent rules-based fiscal framework is required. The banking system has recovered fast; however, the sustainability of the sector’s recovery is still uncertain, and risks remain. An update on reforms to the financial sector’s regulatory and supervisory framework is also provided.

Subject: Expenditure, Fiscal consolidation, Fiscal policy, Fiscal rules, Fiscal stance, Output gap, Production

Keywords: Bank, CR, Europe, Expenditure rule, Fiscal consolidation, Fiscal rules, Fiscal stance, Global, ISCR, Output gap, Output gap estimate, UK bank, UK banking sector, Upside inflation risk

Publication Details

Pages:

88
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/337
Stock No:

1GBREA2010001
ISBN:

9781455208449
ISSN:

1934-7685

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