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United Kingdom: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2000: Issue 106
Language:
English
Publication Date:
01 Jan 2000
DOI:
https://doi.org/10.5089/9781451814149.002
ISBN:
9781451814149
ISSN:
1934-7685
Pages:
121
Keywords:
ISCR; CR; pay; real wage; wage flexibility; U.K. economy; U.K. interest rates; exchange rate-interest rate nexus; EMU economy; Wages; Labor markets; Central bank policy rate; Employment; Real wages; North America; Europe
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The paper addresses issues that arise in designing a framework for inflation targeting, with particular attention to features of the Bank of England's approach and experience. The comparison of welfare reform in the United Kingdom with similar efforts in other countries is discussed. The paper reviews the recent literature and empirical evidence on the main economic considerations influencing possible U.K. entry into the European Monetary Union (EMU). The U.K. labor market has undergone institutional and structural changes contributing to an increase in both aggregate and relative wage flexibility.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund