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Great Britain: From Keynes to Thatcher and back?

Author

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  • Oscar-Erich Kuntze

Abstract

The British economy has weathered the world economic weakening relatively well, the real gross domestic product having increased in 2002 by around 1.8%. The unemployment rate at 5.1% for the year is only slightly higher than in 2001. Consumer prices were around 1.3% above the level of the previous year. In 2003, the real gross domestic product should grow by around 1¾%. The unemployment rate should stand at 5¼% for the year and consumer prices will increase by around 1½%. In 2004 GDP will increase by around 2¼%. The unemployment rate will sink to 5% and inflation will stand at 1½%.

Suggested Citation

  • Oscar-Erich Kuntze, 2003. "Great Britain: From Keynes to Thatcher and back?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(15), pages 28-36, August.
    • Handle: RePEc:ces:ifosdt:v:56:y:2003:i:15:p:28-36
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    More about this item

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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