Monetary Challenges in a New Economy

In a speech to be delivered on October 12, Dr Sushil Wadhwani, a member of the Monetary Policy Committee, argues that the UK economy might be behaving differently now relative to the past.
Published on 11 October 2000

Dr Sushil Wadhwani He points to the fact that economic forecasters have tended to under-predict GDP growth while simultaneously over-predicting inflation since 1992.

He presents evidence suggesting that inflation forecasts in the 1990s would have been more accurate if they had incorporated evidence that the degree of product market competition was intensifying.

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