Darby, J. and Phillips, H. (2007) Assessing the impact of monetary tightening: a sectoral analysis of the UK and Scottish economies. Fraser of Allander Institute Quarterly Economic Commentary, 31. pp. 53-58. ISSN 0306-7866
Full text not available in this repository. (Request a copy from the Strathclyde author)Abstract
The Bank of England has increased interest rates by one quarter of a percentage point on three occasions since August 2006. This article addresses the question of how these interest rate changes are propagated through to economic activity. Sectorally disaggregated data was analysed for the UK as a whole, and for Scotland and the stylised facts of the responses of Gross Value Added (GVA) were derived. (Ideally it would be useful to extend this analysis to other UK regions, but lack of suitable data continues to makes this infeasible.)The article places particular emphasis on the estimated size, significance and speed with which contractions in economic activity occur following interest rate hikes.
| Item type: | Article |
|---|---|
| ID code: | 7283 |
| Keywords: | interest rates, economics, gross value added, taxation, Commerce |
| Subjects: | Social Sciences > Commerce |
| Department: | Strathclyde Business School > Economics |
| Related URLs: | |
| Depositing user: | Strathprints Administrator |
| Date Deposited: | 27 Nov 2008 15:13 |
| Last modified: | 12 Mar 2012 10:46 |
| URI: | http://strathprints.strath.ac.uk/id/eprint/7283 |
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