Fiscal and monetary policy framework have become increasingly popular as disenchantment with active stabilisation policy has increased. In order to maximise the gains in terms of welfare and output frameworks need to be designed to achieve targets efficiently and stabilise the volatility of the...

ABSTRACT We explore the effects of a temporary cut in VAT, identifying three possible effects: an income effect as people benefit from a lower cost of living during the period of the reduction, a substitution effect as people bring their consumption forward and an arbitrage effect as people buy...

We assess fiscal policy from the perspective of fairness between generations and the relationship between this and national saving, in the context where the United Kingdom is one of the lowest saving of all the OECD economies. Cross-section and pooled data suggest that governments are in a...

* This is a summary of the full article: "The Labour Government's economic record and economic prospects", taken from the National Institute Economic Review, no. 192, April 2005. The National Institute Economic Review is published quarterly by Sage Publications. Please visit the Sage...

Speakers: Martin Weale (NIESR): Convergence Issues. Ray Barrell (NIESR): Modelling Euro Accession. Iain Begg (LSE): Clear and Unambiguous: Measuring without a metric?. Chris Alsopp (University of Oxford, former MPC member) E. Philip Davis(NIESR) See also: NIESR press release - Assessing the...