Leading economists warn 1% growth could become the UK’s new normSummary: The UK’s sustainable growth rate has been much lower than that calculated by the OBR and used by the government to forecast public finances.The lack of growth is important in its own right. However, it is also important...

Big government may be coming back into fashion. Public spending in Britain – especially on services such as health, education and transport – is on the increase. But how likely is it that more spending will result in better services?In this new Yearbook, Peter Warburton assembles evidence...

We use annual data drawn from 1950-85 to estimate an econometric model of the money multiplier for the United Kingdom. We define the money multiplier as ratio of the money stock broadly defined (M3) and the monetary base (M0), and then decompose the multiplier into the currency ratio, the time...