The downturn has accentuated strains on the financial system of Anguilla. The 2011 Article IV Consultation highlights that the growth outlook is improving with major tourism projects getting back on course, although a slow recovery is only expected to begin in 2012. Executive Directors have...

The paper presents estimates of a model of the credibility of the U.K. commitment to its central parity against the deutsche mark during the period of U.K. ERM membership (1990-92). The measure of credibility used is the long-term interest differential with Germany. Credibility is decomposed...

This Selected Issues paper analyzes the impact of globalization inflation and relative prices over the last decade in the United Kingdom. The IMF’s Global Economy Model is used to estimate the relative importance of the various factors argued to have influenced the evolution of inflation and...

This Selected Issues paper on the United Kingdom describes the issues related to the choice between different types of inflation targeting frameworks and the features of the Bank of England's framework. The paper focuses the trade-off between program costs, efficiency, and concerns about equity...

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pages of statistical data in each issue. It reports, for most countries of the...

This paper investigates the degree of bank competition in the euro area, the U.S. and U.K. before and after the recent financial crisis, and revisits the issue whether the introduction of EMU and the euro have had any impact on bank competition. The results suggest that the level of bank...

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pages of statistical data in each issue. It reports, for most countries of the...

This paper uses a novel variant of identification through hetroscedacity to estimate spillovers across U.S., Euro area, Japanese, and UK government bond and equity markets in a vector autoregression. The results suggest that U.S. financial shocks reverberate around the world much more strongly...

This paper quantifies the economic impact of uncertainty shocks in the UK using data that span the recent Great Recession. We find that uncertainty shocks have a significant impact on economic activity in the UK, depressing industrial production and GDP. The peak impact is felt fairly quickly at...

This 2012 Article IV Consultation reports that the United Kingdom's economic recovery has been sluggish, as the needed hand-off from public to private demand-led growth has not fully materialized. Economic activity is projected to gain modest momentum in future, but the pace of expansion is...