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UK Economy Macroeconomics
Study resources curated for students wanting to keep up to date with key developments in the UK economy for their exams
Curated by Geoff Riley
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▶ Renting in modern Britain

Renting in modern Britain - Newsnight
Geoff Riley's insight:

There are nine million private renters in the UK and the numbers are rising. So what happens to housing rent levels makes a big difference both to discretionary disposable income and the geographical mobility of labour. This BBC Newsnight video looks at the fierce competition for finding rental homes in the UK - seven renters are chasing each home. For the first time, the average monthly rent now exceeds the average monthly mortgage payment. This has important micro and macroeconomic implications.

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Poorest face highest inflation rate

Poorest face highest inflation rate | UK Economy Macroeconomics | Scoop.it

New data 

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New data highlights that the lowest income households in the UK have seen the fastest increase in the cost of living over the last decade. This article is part of the ongoing and wider debate about falling real wages even as the UK economy recovers from the last recession.

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▶ UK economy after the Crisis: RES Annual Public Lecture 2014 Stephanie Flanders

RES Annual Public Lecture 2014 Stephanie Flanders
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Well worth savouring and enjoying as enrichment towards the end of a long term. 

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Falling oil prices are free stimulus

Falling oil prices are free stimulus | UK Economy Macroeconomics | Scoop.it
The OECD estimates that a $20 drop in the price of oil adds a chunky 0.4% of GDP growth to developed economies after two years
Geoff Riley's insight:

Excellent clear writing from Linda on the impact of falling oil prices on effective disposable incomes - The OECD estimates that a $20 drop in the price of oil adds a chunky 0.4% of GDP growth to developed economies after two years

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Britain must spend billions to bridge gap in research

Britain must spend billions to bridge gap in research | UK Economy Macroeconomics | Scoop.it
The UK must spend more than £20bn extra a year on research and development to tackle decades of under-investment, an influential committee of MPs warns today.
Geoff Riley's insight:

The research gap has been around for a long time

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International migration, 2003-2013

Immigration

Emigration
Geoff Riley's insight:

The ONS has produced this super interactive map showing the source and destination of migrants. 

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Eurozone 'persistent stagnation' risk

Eurozone 'persistent stagnation' risk | UK Economy Macroeconomics | Scoop.it

Our major ty

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Our major trading partner - several EU countries are at risk of persistent deflation. Consider what this news story might mean for the UK.

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Will Opec cut oil production?

Will Opec cut oil production? | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

The 30% fall in the world price of crude oil in recent months undoubtedly has a bearing on prospects for the UK economy. Will the oil producer cartel OPEC act to limit output in a bid to stem the declining price of a barrel of black gold? Saudi Arabia looks to be the key player in this decision - they can produce oil more cheaply than anyone else. 

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British workers cheaper to employ than Spanish

British workers cheaper to employ than Spanish | UK Economy Macroeconomics | Scoop.it
Britain’s labour costs have dropped below Spain’s as a wage squeeze and weaker pound have transformed the UK into a low cost country, compared with many of its European neighbours. The average hourly cost of employing someone was €20.90 in the UK
Geoff Riley's insight:

An insight into changes in relative unit labour costs between the UK and fellow EU countries. Consider the likely effects if our labour costs are low relative to EU partners.

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R&D a key element to rebalance the economy, says Cambridge study

R&D a key element to rebalance the economy, says Cambridge study | UK Economy Macroeconomics | Scoop.it

Creating Renewed UK government spending on innovative R&D can create new industries A renewed focus on innovative research and development spending by major UK departments would create new export-orient...

Geoff Riley's insight:

Creating markets for things that don't yet exist is a target for lifting innovation and research in the British economy according to this new report from Cambridge University. This is relevant to students wanting to find examples of research-led industries in which the UK might generate new products, exports and national wealth. 

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UK slips two places to 16th in global table for business tax - FT.com

UK slips two places to 16th in global table for business tax - FT.com | UK Economy Macroeconomics | Scoop.it
Britain has slipped two places down a league table of business tax systems published by the World Bank, in spite of George Osborne’s flagship policy of increasing tax competitiveness. Norway and Macedonia overtook the UK, which fell to 16th place on
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Co-op fails banking stress tests

Co-op fails banking stress tests | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

When reading this article consider why the central bank (the Bank of England) has introduced stress tests for commercial banks. The stress test is one of the responses to the 2007 Global Financial Crisis - in effect it introduces a fire break into the banking system. Bank must have sufficient tier 1 capital reserves in case there is another crisis and the rate of bad debts climbs higher. The troubled Co-Op must reduce the size of their loan book as part of the stress test procedure.

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How a lack of sleep affects the brain

How a lack of sleep affects the brain | UK Economy Macroeconomics | Scoop.it
Research has found that sleep deprivation can have a detrimental effect on your brain function, writes Theresa Fisher.
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The global economic challenge: Slow wage growth

The global economic challenge: Slow wage growth | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

Stagnant wage growth has many root causes and affects hundreds of millions of workers around the world, not least in slow-growing advanced countries. Global wage growth barely scrambles above 1% per year when wage increases in China are taken out of the calculation. Linda Yueh's article looks at some of the reasons for low wage inflation - one consequence for the UK government is a lower than expected tax take from income tax and national insurance contributions.

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Hooray for cheap oil

Hooray for cheap oil | UK Economy Macroeconomics | Scoop.it
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Cranbrook Economics's curator insight, December 1, 2:50 PM

Always going to lower costs of production, boost out AS and help firms drive forward with growth. But what about economies who rely on export revenues from Oil? Is this then now going to negatively affect firms that are trying to develop? Always a good commodity to keep an eye on.....

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Skill shortages: Can they be fixed?

Skill shortages: Can they be fixed? | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

Familiar supply-side weaknesses in the UK labour market are highlighted here.

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▶ Rising deficit is taxing Osborne

Conversation between Professor Tim Besley (London School of Economics) and Professor Sir Paul Collier (University of Oxford) on the importance of economic gr...
Geoff Riley's insight:

The government's public finances have been improving in the last few years but the forecast for 2014-15 is that the UK budget deficit will still be around £100bn. 

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Bank of England will raise interest rates despite euro gloom, says Mark Carney

Bank of England will raise interest rates despite euro gloom, says Mark Carney | UK Economy Macroeconomics | Scoop.it
The Bank of England will press on in delivering an interest rate rise despite external threats to the UK economy, Mark Carney tells MPs
Geoff Riley's insight:

Good background here on the issue of when the Monetary Policy Committee of the Bank of England may choose to start tightening monetary policy by raising the bank (or policy) rate. Decisions on interest rates are data dependent ... the MPC considers a wide range of evidence when making their decision.

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Why a house-price bubble means trouble

Why a house-price bubble means trouble | UK Economy Macroeconomics | Scoop.it
A housing boom is the economic equivalent of a tapeworm infection Buying a house is not just a big deal, it’s the biggest. Marriage and children may bring more happiness – or misery, if you’re unlu...
Geoff Riley's insight:

Insights from Tim Harford on the fool's gold that is the UK housing market! The rules of the mortgage debt game change in a world of persistently low inflation. Don't be fooled by cheap mortgage rates!

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Monitoring poverty and social exclusion 2014 | Joseph Rowntree Foundation

Monitoring poverty and social exclusion 2014 | Joseph Rowntree Foundation | UK Economy Macroeconomics | Scoop.it
Our annual assessment of progress in tackling poverty and disadvantage across the UK.
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Firm to invest £640m in UK shale gas

Firm to invest £640m in UK shale gas | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

Consider the demand and supply-side implications of this important investment announcement from chemicals company Ineos. A part of the wider debate about tracking but also the future competitiveness of our economy.

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