The slowdown in corporate investment in the early 1990s recession was more marked than in the equivalent period of the 1980s downturn. This article reviews corporate sector investment and financial health in these periods. It then uses a 'credit channel' model to consider the potential for...

This paper reports an investigation of the effects of additive and multiplicative uncertainty upon the stabilisation properties of a simple base money rule for monetary policy. Using a five-equation empirical model of the United Kingdom, it is shown that changes in the extent of additive...

This paper uses a dynamic general equilibrium model incorporating financial accelerator effects to examine interactions between corporate investment and financial conditions in recent UK business cycles. The paper notes correspondences in recent recessions between the behaviour of business...

This paper reports the main results of a survey carried out by the Bank in the autumn of 1995 of the price-setting behaviour of 654 UK companies. It elaborates on an article in the May 1996 Bank of England Quarterly Bulletin. In the year preceding the survey, the average company reviewed its...

This paper reports an investigation of the effects of additive and multiplicative uncertainty upon the stabilization properties of a simple base money rule for monetary policy. Using a five-equation empirical model of the United Kingdom, it is shown that changes in the extent of additive...

This paper looks at disaggregated price data in the U.K. to see if there is evidence of downward nominal rigidity: are prices less likely to fall after a downward shock than they are to rise after an upward shock? The test is to see if, as the mean inflation rate falls, the skewness, or the...

This paper reports the main results of a survey carried out by the Bank in the autumn of 1995 of the price-setting behaviour of 654 U.K. companies. It elaborates on an article in the May 1996 Bank of England Quarterly Bulletin. In the year preceding the survey, the average company reviewed its...

This paper uses the popular Bernanke, Gertler and Gilchrist (BGG) model to explore links between the financial health of the non-financial corporate sector and bank lending behaviour on the one hand, and the effectiveness of monetary policy on the other. We use the model's microeconomic...

This paper uses a dynamic general equilibrium model incorporating financial accelerator effects to examine interactions between corporate investment and financial conditions in recent UK business cycles. The paper notes correspondences in recent recessions between the behaviour of business...