Monetary Challenges in a 'New Economy'

12 Pages Posted: 3 Aug 2005

See all articles by Sushil Wadhwani

Sushil Wadhwani

Bank of England - Monetary Policy Committee


In this speech, Sushil Wadhwani, member of the Bank's Monetary Policy Committee argues that the tendency for economic forecasters to underestimate growth and overestimate inflation suggests that the UK meconomy is behaving differently from the past. Possible explanations include an intensification of product market competition, labor market reform and a tendency to underestimate productivity growth because of measurement error.

Suggested Citation

Wadhwani, Sushil, Monetary Challenges in a 'New Economy'. Bank of England Quarterly Bulletin, November 2000. Available at SSRN:

Sushil Wadhwani (Contact Author)

Bank of England - Monetary Policy Committee ( email )

Threadneedle Street
London EC2R 8AH
United Kingdom
+44 20 7601 3235 (Phone)

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