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(Chosen country and period: Example: UK, 2007 to present), An Evaluation of the Macroeconomic Performance and Policy Responses, - Essay Example

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Client’s Name: Course: University 5 December 2013 UK Economy an Introduction Several major changes have taken place in the UK economy since 2007. The world was affected by recession in the year 2007 and this continued for a few good years. The UK economy was severely hit in the year 2007…
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(Chosen country and period: Example: UK, 2007 to present), An Evaluation of the Macroeconomic Performance and Policy Responses,
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(Chosen country and period: Example: UK, 2007 to present), An Evaluation of the Macroeconomic Performance and Policy Responses,

Download file to see previous pages... Any government has the power to regulate the economy of a country and not only does it regulate the economy, it has a vital role to ensure that the economic condition remains stable. It is the responsibility of the government to ensure that all the aspects of economy maintain a stable level so that the country can grow and expand. Government regulates many things in an economy including inflation, exports and imports, prices of many vital commodities, and also property prices to a large extent. Government of England has entrusted the job of determining the monetary policy, in the hands of Bank of England. Bank of England looks into many other big issues. One of the most important issues is that of ensuring monetary stability in the economy, which can be achieved through a combination of stable prices of goods and services across the economy coupled with a low inflation level and level of confidence of the investors in the currency of the country. The Bank comes out with the monetary policy in order to ensure a certain key objectives like, delivering price stability with a low inflation level coupled with an objective to support the Government’s economic objectives of growth and employment. Price stability is taken care of, by the Government’s usual inflation target of 2%. ...
For example, any increases in oil prices is expected to feed through into inflation over the next few years, and the gap between the value of imports and exports is growing to record levels, prompting expectations of a decline in the value of sterling, which is a welcome sign for the exporters but will hit the importers, as they will have to shell out more money for importing their raw materials leading to a further increase in inflation. Any decision is taken after considering the condition of the whole economy and all sections of the society at large and there are several other methods to tackle the prices of properties, but it will always be better to increase the rates at a slower but steady pace, rather than giving a monetary shock. Rising Inflation, if not tackled properly and at the right time may create a cycle, wherein the inflation keeps rising due to no change in interest rates. Factors Influencing Property Prices in UK Assessing the price of a property is not an easy job, there are three main methods besides the economic factors that determine value, namely “Comparable Sales Method”, “Income Approach” and the “Cost Approach” (Property Valuation for Home Buyers), but these methods are just a tool for a prospective seller to determine the price of the house they are going to sell and this price definitely influences the price at, which the transaction actually takes place. Let us now analyze how the concept of value plays a role in determining the prices and what factors influence value. As mentioned in the article, value is subjective and differs from person to person. Value of a beautiful flat in a very posh locality can differ from person to person. Someone who likes to lead ...Download file to see next pagesRead More
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