Structural change and economic behaviour: The case of UK exports |
| |
| Authors: | Professor Stephen Hall |
| |
| Institution: | Director of Research in the Centre for Economic Forecasting, where Dr Giovanni Urga is a Research Fellow. Dr John Whitley is a Visiting Fellow within the Centre for Ecooomic Forecasting at London Business School. |
| |
| Abstract: | In this paper Stephen Hall, Giovanni Urga, and John Whitley apply a new econometric technique to date unknown breaks in UK export behaviour. They show how the evidence points to a structural shift in 1979. Although there is some support for a supply-side interpretation in that there have been changes in the behaviour of prices, there has also been a shift in the underlying demand for UK exports. They also find that variables which proxy changes in the quality of UK exports, or other supply-side influences, do not properly account for the observed structural break in UK export performance. |
| |
| Keywords: | |
|
|
