Recently added articles from National Institute Economic Review:
The world economy.(AT A GLANCE ...)(Statistical table)
Jan 01, 2009 ... * The global recession will be the deepest in postwar history as world GDP grows in 2009 by just 0.5 per cent and global trade shrinks by 4 per cent. * Further fiscal easing through measures being proposed but not yet formally passed by the time of our forecast, mainly in the US ...
The UK economy.(AT A GLANCE ...)(Statistical table)
Jan 01, 2009 ... * The economy will experience its biggest decline in 60 years in 2009. * Consumer spending will fall this year by 3.8 per cent as household saving recovers. * Net trade will cushion the economy from an even more severe setback in 2009 and drive the subsequent ...
Commentary: growth prospects and financial services.(Statistical data)
Jan 01, 2009; ... Introduction Over the past twenty years the expansion of the British economy has been supported by growth in the financial services industry. With the onset of the financial crisis it seems most unlikely that the financial services industry can, in the future, act as the sort of ...
The global cost of delaying bank stability.(THE WORLD ECONOMY)(Statistical table)
Jan 01, 2009 ... In October 2008, we were already projecting that 2009 would see the worst recession in the OECD economies since 1982, and if the resolution of problems in the banking sector were to be delayed then the outcome would be much worse. We are now facing the deepest global recession in post-war ...
Fiscal expansions in North America.(THE WORLD ECONOMY)(Statistical table)
Jan 01, 2009 ... United States According to the formal dating of the business cycle by the National Bureau of Economic Research (NBER), the US economy reached a peak of economic activity in December 2007, which marks the beginning of the US recession. While some economists tend to refer to a ...
Economic downturn in Asia.(THE WORLD ECONOMY)(Statistical table)
Jan 01, 2009 ... Recent economic developments in Asia have proved significantly worse than anticipated. Year-on-year GDP growth in China slowed to 6.8 per cent in the final quarter of 2008, the slowest rate of growth since 1991 and well below the government's target rate of growth of 8 per cent that is ...
Coordinated fiscal stimulus in the Euro Area.(THE WORLD ECONOMY)(Statistical table)
Jan 01, 2009 ... The Euro Area will experience a deep and relatively protracted recession. In the third quarter of 2008 Euro Area GDP fell by 0.2 per cent on a quarterly basis and we estimate that in the fourth quarter it dropped by a further 1 per cent. In 2009, the European Monetary Union is expected to ...
Evaluating policy reactions to the financial crisis.
Jan 01, 2009; ... The current financial crisis has evolved slowly over the past eighteen months, and policy reactions have responded to events. In August 2007 it became clear that a number of banks had lost some of their capital base as a result of defaults on home loans in the US. The impacts of these ...
Fiscal policy effectiveness in the banking crisis.(Statistical table)
Jan 01, 2009; ... We investigate the effects of changes in taxes using the National Institute international macro model, NiGEM. A comparison on fiscal impulses worth I per cent of GDP for one year is made, with a comparison of a direct tax change, indirect tax change, and a lump sum payment. Multipliers are ...
Prospects for the UK economy.(Statistical table)
Jan 01, 2009; ... The production of this forecast is supported by the Institute's Corporate Members: Abbey plc, Bank of England, Barclays Bank plc, HM Treasury, Nomura Research Institute Europe Ltd, and the Office for National Statistics. Introduction Since our October forecast events ...
Data on the credit crunch.
Jan 01, 2009; ... One might expect bank borrowing to rise during a recession as businesses seek extra credit to tide them over; the data have to be seen in this context. Indeed, in the 1990s recession lending by banks adjusted for inflation continued to rise (with one interruption) until almost the end of ...
Quality assessment of early years education: introduction.
Jan 01, 2009; ... The National Childcare Strategy (DfEE, 1998) set out the Government's commitment to ensuring 'good quality, affordable childcare for children aged 0 to 14 in every neighbourhood'. The Government was committed to a mixed economy of childcare, and has used a mixture of demand side and supply ...
Good quality childcare for all? Progress towards universal provision.
Jan 01, 2009; ... In 1998 childcare was for the first time put on the political map with the publication of the Green Paper 'Meeting the Childcare Challenge' (DfEE, 1998), setting out the first National Childcare Strategy. Since then the childcare landscape has changed beyond recognition with a range of ...
International perspectives on quality in mixed economies of childcare.
Jan 01, 2009; ... This paper briefly reviews international perspectives on quality in mixed economies of childcare. It explores the particular features of the childcare market and suggests that conventional economic rationales do not apply in such a market. It claims that, contrary to government ...
Contextual issues in assessing value for money in early years education.
Jan 01, 2009; ... Early years education has been attributed as having benefits for the public good, avoiding social stratification and acquiring human capital. Although these outcomes appear social, the focus on value for money highlights their economic undertones. However, an assessment of value for money ...
Using foundation stage profile assessments to assess outcomes from early years education.
Jan 01, 2009; ... In the past decade early years education has expanded throughout England with progressive extensions in entitlement to some hours of free provision. Furthermore, there is consistent evidence that shows that early years education leads to improvement in cognitive and social development for ...
Introduction: the great crash of 2008.
Oct 01, 2008; ... In March 2008 we decided to commission a special issue of the Review on Financial Crises in the hope that the topic would still be of interest. Unfortunately it is of more interest now than then. There are six articles in the Review on the topic, (1) and both forecast chapters are focussed ...
The evolution of the financial crisis of 2007-8.
Oct 01, 2008; ... Introduction Although financial crises such as that currently underway tend to be seen as surprising and unusual when they occur, in fact they are common events, particularly in the period since 1970. For example, Demirguc Kunt and Detragiache (2005) use a sample of 77 systemic ...
Risk management and the costs of the banking crisis.
Oct 01, 2008; ... The 2007-8 banking crisis in the advanced economies has exposed deficiencies in risk management and prudential regulation approaches that rely too heavily on mechanical, albeit sophisticated, risk management models. These have aggravated private and economic losses. While fiscal costs were ...
Should monetary policy respond to asset price bubbles? Revisiting the debate.
Oct 01, 2008; ... Recent events have highlighted the importance of asset prices to central bank decisions. We argue that, in response to asset price bubbles, central banks should 'lean against the wind' (LATW hereafter). Even if the bubbles themselves are not significantly affected by LATW, macroeconomic ...