5 per cent is likely, the NIESR
believes stronger medicine is needed.
The Treasury produces two types of forecasts, and it appears that those in the spring Budget get marginally higher scores than the NIESR
spring forecast, as we can see from table 1, whilst NIESR
normally performs better in the autumn as compared to the Pre-Budget Report.
In conclusion, the NIESR
suggested that fiscal policy could be used to raise demand in the economy through a short-term boost to net investment, with little or no loss of fiscal credibility.
Mr Weale has been a director of NIESR
since 1995 and was appointed CBE for his services to economics in 1999.
5) A forthcoming NIESR
discussion paper examines the potential impact of labour market reforms on German and European output, inflation and labour markets under different ECB policy scenarios (Barrell, Becker and Gottschalk, 2003).
gives a grim prediction that the Government's debt stock will rise to around 100% of GDP.
2 per cent in the fourth quarter, the NIESR
said there was about a 50 per cent chance that headline CPI would edge above the BoE's three per cent upper tolerance level in coming months - thereby triggering a mandatory letter of explanation from the BoE governor Mervyn King to Chancellor Gordon Brown.
8% in the three months through February according to the NIESR
GDP Estimate, the lowest reading for the metric since.
said the forecast demonstrated that the Bank of England would have to increase interest rates this month and again in February.
In its quarterly economic review, the NIESR
warned that interest rates might have to rise again for inflation to hit its 2% target.
1984), four -- the LBS, NIESR
, HMT and Cambridge Growth Project models -- could be described as 'mainstream', a classification also used by Britton (1983) in introducing his edited volume on the NIESR
A research paper from the NIESR
compares the past five-year average of PS9bn and a projected revenue of PS3.