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Financial innovation and Consumption in the United Kingdom

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  • Tamim Bayoumi

Abstract

The last decade has seen widespread deregulation of domestic financial markets in the United Kingdom. This paper uses regional household data to investigate the connection between consumption and financial innovation. It is concluded that deregulation has led to a significant increase in the forward looking nature of consumption.

Suggested Citation

  • Tamim Bayoumi, 1990. "Financial innovation and Consumption in the United Kingdom," IMF Working Papers 90/95, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:90/95
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    Citations

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    Cited by:

    1. Bruce Kasman, 1993. "A comparison of monetary policy operating procedures in six industrial countries," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    2. John E. Morton & Paul R. Wood, 1993. "Interest rate operating procedures of foreign central banks," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    3. Sarno, Lucio & Taylor, Mark P., 1998. "Real Interest Rates, Liquidity Constraints and Financial Deregulation: Private Consumption Behavior in the U.K," Journal of Macroeconomics, Elsevier, pages 221-242.
    4. Robert B. Kahn & Linda S. Kole, 1993. "Monetary transmission channels in major foreign industrial countries," Proceedings, Board of Governors of the Federal Reserve System (U.S.).

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