United Kingdom: Selected Issues

March 8, 2005

Preview Citation

Format: Chicago

United Kingdom: Selected Issues, (USA: International Monetary Fund, 2005) accessed October 16, 2024

Summary

The Selected Issues paper examines the dynamics of the inflation process in the United Kingdom, particularly the influence of external shocks. The paper provides a brief summary of existing empirical work. It presents the expectations-augmented Phillips curve model used in the analysis. The basic conclusion is that low inflation in recent years can be explained reasonably well by a combination of increased competitive pressures. The paper also presents some estimates of the degree of possible overvaluation in housing prices and outlines the links between housing prices and the macroeconomy.

Subject: Asset prices, Consumption, Housing, Housing prices, Inflation, National accounts, Prices

Keywords: Asia and Pacific, Asset prices, Asset-price fluctuation, Consumption, CPI inflation, CR, Global, House price, Housing, Housing prices, Inflation, Inflation expectation, ISCR, Price, Safety margin

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/081
Stock No:

1GBREA2005002
ISBN:

9781451814286
ISSN:

1934-7685

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