Chapter I. The British Economy to End-1972

1973 ◽  
Vol 63 ◽  
pp. 9-33
Keyword(s):  
Full Employment ◽  
Annual Review ◽  
Short Term ◽  
Term Forecast ◽  
Recent Developments ◽  
Detailed Assessment ◽  
Employment Potential ◽  
Economic Developments

Chapter I presents a general review of economic developments in 1972 including an attempt to assess the position of the economy in relation to its full employment potential. Chapter II includes the usual short-term forecast of likely developments over the next eighteen months together with a less detailed assessment of prospects over the rather longer term. Recent developments in and short-term prospects for various industries within the industrial production index are dealt with in some detail in Chapter III, while the final chapter contains our annual review and forecasts for the World Economy.

Chapter I. the Home Economy

1983 ◽  
Vol 103 ◽  
pp. 6-29
Keyword(s):  
Economic Policy ◽  
Balance Of Payments ◽  
Short Term ◽  
Short Term Forecast ◽  
The Past ◽  
Term Forecast ◽  
Economic Developments

This chapter is in two main parts. The first contains a survey of economic developments in 1982. It begins with a brief account of economic policy; succeeding sections deal with output and demand, inflation, and the balance of payments. It concludes with a discussion of the experience of individual industries over the past year, and since the beginning of recession in 1979. The second part of the chapter contains a short-term forecast to end-1984.

Chapter I. the Home Economy

1982 ◽  
Vol 102 ◽  
pp. 6-26
Keyword(s):  
Econometric Model ◽  
Medium Term ◽  
Short Term ◽  
Short Term Forecast ◽  
Financial Position ◽  
General Account ◽  
Term Forecast ◽  
Recent Developments

This chapter contains a brief general account of recent developments in the economy and a short-term forecast to end-1984. (A medium-term assessment is given in chapter 3.) Since our last forecast, published in the May issue, we have re-estimated, and in some cases also re-specified, many sectors of our econometric model. This has inevitably changed some of its properties.Two short notes are appended. The first discusses the company sector's current financial position and the implications of the forecast for profitability. The second describes the data on wage settlements which we compile as part of our regular assessment of trends in wages and earnings.

Chapter I. The Home Economy

1982 ◽  
Vol 99 ◽  
pp. 6-28 ◽  
Keyword(s):  
Current Interest ◽  
Short Term ◽  
Short Term Forecast ◽  
Term Forecast ◽  
Recent Trends ◽  
The Impact

This chapter is in two main parts: the first gives a brief account of developments in the economy in 1981; the second contains the short-term forecast to end-1983. In addition, two short notes are appended addressed to topics of particular current interest and concern: the impact of the recession on company profitability and liquidity and recent trends in productivity.

Chapter I. The Home Economy

1984 ◽  
Vol 110 ◽  
pp. 6-26
Keyword(s):  
Public Expenditure ◽  
Econometric Model ◽  
Current Situation ◽  
Medium Term ◽  
Short Term ◽  
Short Term Forecast ◽  
Term Forecast ◽  
The World

This chapter is in two parts. The first part contains discussion of the current situation and a short-term forecast to end-1986. The second part looks at the medium term. It begins with an analysis of probable trends in public expenditure over the next five years. The NIESR econometric model is then used to analyse medium-term prospects for the home economy. The medium-term outlook for the rest of the world is discussed in chapter II.

Chapter I. The Home Economy

1974 ◽  
Vol 68 ◽  
pp. 9-45
Keyword(s):  
Current Issue ◽  
Balance Of Payments ◽  
Special Treatment ◽  
Domestic Economy ◽  
Short Term ◽  
Short Term Forecast ◽  
General Review ◽  
Term Forecast ◽  
February Issue

The February issue of the Review was affected by the energy situation as to both length and the need for special treatment of the oil situation. Much material of the kind normally included in the pre-Budget issue was therefore omitted. For this reason the current issue contains rather more material than usual on the domestic economy in the form of a review of economic events over the last 12-18 months. A general review (pages 9-14) is followed by an assessment of various forecasts of the economy in 1973 (page 14) and then some discussion of the behaviour of prices and incomes since the introduction of the counter-inflation policy in November 1972 (page 17). Balance of payments developments are discussed on page 22. An analysis of trade and other developments since the United Kingdom's entry into the EEC begins on page 24 and the normal short-term forecast appears on pages 28-45.

The Economic Situation: Annual Review: Chapter II. The Short-Term Outlook

1970 ◽  
Vol 51 ◽  
pp. 22-32
Keyword(s):  
Fourth Quarter ◽  
Economic Situation ◽  
Annual Review ◽  
Short Term ◽  
Short Term Forecast ◽  
The Third ◽  
Term Forecast

This chapter contains the usual short-term forecast, up to mid-1971By the third quarter of last year, output had fully recovered from its first quarter dip and the signs are that the resumption of growth was consolidated in the fourth quarter.

Chapter I. The Home Economy

1986 ◽  
Vol 115 ◽  
pp. 6-26
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Fiscal Policy ◽  
Balance Of Payments ◽  
Post Mortem ◽  
General Survey ◽  
Short Term ◽  
British Economy ◽  
Term Forecast

This chapter is in two parts. The first gives a general survey of developments in the British economy last year. It begins with a description of trends in output and demand; succeeding sections deal with fiscal policy, monetary policy and the exchange rate, inflation, unemployment and the balance of payments. It concludes with a post mortem on last year's forecasts. The second part of the chapter contains a short-term forecast for 1986 and 1987

Chapter I. The Home Economy

1985 ◽  
Vol 114 ◽  
pp. 6-32
Keyword(s):  
Public Expenditure ◽  
Current Situation ◽  
Medium Term ◽  
Short Term ◽  
Short Term Forecast ◽  
Term Forecast ◽  
The World

This chapter is in two parts. The first part contains discussion of the current situation and a short-term forecast to end-1987. The second part looks at the medium term, beginning with an analysis of probable trends in public expenditure over the next five years. The medium-term outlook for the rest of the world is discussed in chapter II.

The Economic Situation: Annual Review

1968 ◽  
Vol 43 ◽  
pp. 4-23
Keyword(s):  
Industrial Production ◽  
Fourth Quarter ◽  
Annual Review ◽  
Economic Forecast ◽  
Medium Term ◽  
Incomes Policy ◽  
The World ◽  
National Output ◽  
Economic Developments

Chapter Igives a brief general account of economic developments during 1967. It then discusses the prospect to mid-1969; it accepts the stated Government objective of a 4 per cent growth in national output through 1968 and 1969, and makes an estimate of the Budget requirements. (The appraisal of policy is included here.) There is then a section on the medium-term prospect up to 1972.Chapter IIdiscusses incomes policy.Chapter IIIadds some background to the details of demand.Chapter IVis the annual production chapter—including an attempt to derive from the general economic forecast a view about the prospects for different industries.Chapter Vgives the world background.The increase in output in 1967 was little more than 1 per cent. During the year—from the fourth quarter of 1966 to the fourth quarter of 1967—the growth in output may have been somewhat greater, perhaps approaching 1 3/4 per cent; for it seems fairly certain, in the light of the movement of unemployment and industrial production that output must have recovered in the fourth quarter.

Is money the creation of the state or the market? (On the “modern monetary theory” as described in the textbook by W. Mitchell, L. R. Wray and M. Watts “Macroeconomics”)

2020 ◽  
pp. 121-134
Author(s):  
S. A. Andryushin
Keyword(s):  
Public Debt ◽  
Scientific Community ◽  
Full Employment ◽  
Term Effect ◽  
Scientific Concept ◽  
Monetary Theory ◽  
Left Wing ◽  
Medium Term ◽  
Short Term ◽  
Stimulation Of

In 2019, a textbook “Macroeconomics” was published in London, on the pages of which the authors presented a new monetary doctrine — Modern Monetary Theory, MMT, — an unorthodox concept based on the postulates of Post-Keynesianism, New Institutionalism, and the theory of Marxism. The attitude to this scientific concept in the scientific community is ambiguous. A smaller part of scientists actively support this doctrine, which is directly related to state monetary and fiscal stimulation of full employment, public debt servicing and economic growth. Others, the majority of economists, on the contrary, strongly criticize MMT, arguing that the new theory hides simple left-wing populism, designed for a temporary and short-term effect. This article considers the origins and the main provisions of MMT, its discussions with the mainstream, criticism of the basic tenets of MMT, and also assesses possible prospects for the development of MMT in the medium term.

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