Source: OECD The shaded area represents the range of statistics amongst OECD countries from highest to lowest. The OECD have recently published a report on the UK economy. These graphs illustrate how the UK is performing against other OECD Countries. Economic Growth (GDP index) During 2008, the UK’s decline in GDP was similar to the …
Q. Why does Japanese Yen appreciate after Earthquake and Tsunami? Japan has suffered a tragic natural disaster. Aside from the very real human tragedies, it will have an adverse economic impact. Yet, since the crisis, the Japanese Yen has appreciated in value. Why has the Yen appreciated when perhaps you may have expected the opposite? …
Readers Question: In 2009, both inflation and growth went down, but in 1991, the inflation went up, even though the growth went down. What could be the reason for the difference in behavior? (UK Growth Rates) In 1990 inflation was high. This high inflation was a result of the previous economic boom. In the late …
Deaths from liver disease have doubled in Britain in recent years while other countries such as France have seen “profound” falls thanks in part to “strict” rules on marketing drink, a strongly-worded article in The Lancet claims. Academics say that total deaths from the “wider harms” caused to society by alcohol could reach 250,000 in …
Source: ONS This graph shows how inflation rates for different categories can vary enormously. Firstly, gas and electricity prices are by far the most volatile. This reflects the volatile nature of supply, it also reflects the fact demand and supply are inelastic. See: volatile food prices for the economic theory behind this volatility. Despite the …
In economics, there is often a trade off between macro economic variables. A simple trade off could be – increase interest rates; this leads to lower inflation, but also lower output. Cut interest rates, and you help boost growth, but increase inflation. In an ideal world, we would have low inflation, high growth and full …
In recent years, the gap between average female wages and men’s wages have decreased, however, for various reasons, men’s pay is still higher than women. Reasons for Gender Pay Gap Career breaks to have children (Studies have shown that women without children have a much smaller pay gap than women who take time off work …
The UK economy faces a few paradoxes. Low Growth – High Inflation. Firstly, after a deep recession the economic recovery is weak. In theory, high unemployment and low growth should lead to low inflation. However, due to rising energy and food prices, we have inflation above target. This presents a conundrum for the Bank of …