Blog: June 2017
The natural rate of unemployment of the US economy has reached a lowest point since at least 1949. How can we explain such an achievement? And does it matter? In this blog post, I will explain what we mean by the natural rate of unemployment, give two explanations for its secular decline, and present one challenge ahead.
Rivers of ink will be spent on political commentary on the first anniversary of the EU referendum. We at NIESR decided to use our unique expertise to show the evolution of economy since the vote took place in six charts covering Inflation, wages and consumption, investment, housing market and equities.
Our final chart compares GDP growth forecasts by different institutions and shows that NIESR’s own Brexit scenario for 2016 turned out to be pretty much on the money. While the outturn for 2016 was not as bad as some had feared the economy has slowed down markedly this year so far, despite robust employment growth.
If the UK’s route out of the EU was less than clear before the General Election, events of the last ten days have torn the road map into shreds. The Conservative and Labour manifestos ruled out free movement, yet everything now seems to be up for grabs.
The hung Parliament is a vote for ‘None of the above’. Sadly, none of the political parties addressed the economic issues that have dominated the experiences of households over the past 10 years. Productivity has barely progressed in a decade and as a result real wages have hardly increased either.
As French citizens prepare to go to poll on Sunday to elect their representatives in the National Assembly, the lower – and more powerful – of the two chambers of parliament, here is a snapshot of how the French economy has performed in the last five years, identifying three key challenges to long-term prosperity. To follow through on President Macron’s reformist agenda, it is important that a majority willing to tackle those problems emerges from the assembly.
The British Public love the NHS. But, when push comes to shove, how much extra are they willing to pay for it? This is not an easy question to ask or answer. Recent evidence from a large representative sample of the British public has been gathered which sheds some light on this question.
In England, the primary care physician is the General Practitioner (GP) and plays a central role in the National Health Service (NHS). The reality of the NHS service is that 90% of all contacts with the NHS are made with General Practice which remains a highly cost-effective method of delivering health care for the general population and performs a ‘gatekeeping’ function for more expensive treatment in Secondary Care.