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Quarterly Bulletin - Bank of England

2003, v. 43, n. 3

  • Página 257-270
    Título: Markets and operations.
    Resumen: This article reviews developments since the Summer Quarterly Bulletin in sterling and global financial markets, UK market structure and the Bank's official operations.

  • Página 271-280
    Autor/es: Rob Hamilton.
    Título: Research and analysis Research work published by the Bank is intended to contribute to debate, and does not necessarily reflect the views of the Bank or of MPC members. Trends in households' aggregate secured debt.
    Resumen: The aggregate level of households' secured debt relative to their income has increased by about a quarter over the past five years, and has almost tripled since 1980. Using a simple model, this article concludes that much of this increase can be accou

  • Página 281-290
    Autor/es: Clare Lombardelli and Jumana Saleheen .
    Título: Public expectations of UK inflation.
    Resumen: Every quarter, NOP carries out a survey of the inflation expectations of the general public. This article illustrates how expectations vary according to individuals' different circumstances, and tries to explain how these differences might occur.

  • Página 291-303
    Autor/es: Jerry Jones, Michael Joyce and Jonathan Thomas.
    Título: Non-employment and labour availability.
    Resumen: According to the Labour Force Survey, about 20% (approximately 7.5 million) of the non-student working-age population were not in paid employment in 2002. Of these people about one in five were classified as unemployed, with the remainder labelled as '

  • Página 304-314
    Autor/es: Rob Wood.
    Título: The information content of regional house prices: can they be used to improve national house price forecasts?.
    Resumen: It is often suggested that house price movements in the South East lead, or even cause, movements in the rest of the United Kingdom. If this were the case then house price inflation in the South East would be useful when forecasting national house price i

  • Página 315-326
    Autor/es: Philip Bunn and Garry Young.
    Título: Balance sheet adjustment by UK companies.
    Resumen: Corporate debt levels in the United Kingdom are currently at an historically high level in relation to the market value of corporate capital. Empirical evidence discussed in this article suggests that this is unlikely to be an equilibrium position and tha

  • Página 343-351
    Autor/es: Peter Sinclair, Houblon-Norman Fellow.
    Título: The optimal rate of inflation: an academic perspective.
    Resumen: In an economy free of all imperfections, inflation should be slightly negative. Prices should keep dropping, at the real rate of interest. Any higher rate of sustained inflation (or lower deflation) would reduce the benefits from holding real money. Centr

  • Página 352-365
    Título: The EU Financial Services Action Plan: a guide.
    Resumen: A Single Market in financial services has long been an EU objective. The integration of financial markets in the EU has progressed much further in wholesale than in retail financial services, with the latter still segmented largely along national lines. T

  • Página 366-378
    Título: Credit conditions and monetary policy.
    Resumen: Speech by Paul Tucker, executive director of the Bank of England and member of the Monetary Policy Committee, given to the Leeds Financial Services Initiative on 28 August 2003