National Institute Economic Review

Commentary - Big Government?

The size of the public sector is a continuing source of economic debate from a number of perspectives. At home there is widespread concern that the increase in public spending in the United Kingdom has not delivered 'value for money' but has instead been absorbed in large pay increases.<br /><br />There are three key mechanisms by which a large public sector might be thought to depress economic performance. First of all there is the question of taxation.

The World Economy

Summarised from the National Institute Economic Review, No. 197, July 2006. To order a the full version of this article or a subscription, please contact Sage Publications by telephone: +44 (0) 20 7324 8701, email: mailto:subscriptions@sagepub.co.uk or online at http://ner.sagepub.com.<br /><br />¥ Global growth will quicken to 5.1 per cent this year falling back only a bit in 2007 to a still rapid 4.7 per cent.

UK Economy Forecast

Summarised from the National Institute Economic Review, No. 197, July 2006. To order a the full version of this article or a subscription, please contact Sage Publications by telephone: +44 (0) 20 7324 8701, email: mailto:subscriptions@sagepub.co.uk or online at http://ner.sagepub.com.<br /><br />

¥ GDP is expected to grow by 2.5 per cent in 2006 and by 2.6 per cent in 2007. <br /><br />

The new monetary regime: Introduction

Perhaps the most striking feature of macroeconomic policy of the past twenty or thirty years has been the emergence of a consensus that monetary policy should be delegated to an independent authority. The world has moved from a situation in the 1960s and 1970s where there were very few independent central banks Ð in Europe the main example was the Bundesbank of course Ð to one now where independence is almost standard. Indeed with the

foundation of the European Central Bank and the

The World Economy

Summarised from the National Institute Economic Review, No. 196, April 2006. To order a the full version of this article or a subscription, please contact Sage Publications by telephone: +44 (0) 20 7324 8701, email: mailto:subscriptions@sagepub.co.uk or online at http://ner.sagepub.com.<br />

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¥ Global growth will remain rapid over the next two years, with world GDP rising by 4.8 per cent in 2006 and 4.5 per cent in 2007.<br />

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