Japan unveils 118bn pounds sterling rescue plan

Article Abstract:

Little enthusiasm has been expressed by financial markets for the Japanese government's 118 billion pounds sterling rescue programme, designed to lift the country's economy out of recession. Most experts believe that the programme will fail to reverse the decline of the Japanese economy, which is forecast to contract by 2.6% in 1998 and will at best not grow at all in 1999. Japanese interest rates cannot fall much further, and this means that the authorities must use a mixture of fiscal measures and longer-term structural reforms to revive the economy.

Economic Programs, Administration of Economic Programs, Japan, Economic policy

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How wage inflation has been tamed

Article Abstract:

Significant changes in the jobs market may make the UK less vulnerable to periods of high wage inflation and high unemployment than it has been in the past. The government's New Deal programme seems to be having a positive impact. Furthermore, there has been a shift in expectations about future inflation, a key factor in wage increases. Government reforms seem to have had a positive impact on the jobs market so far, but the government must now consider how to ensure that this momentum continues.

United Kingdom, Labor force information, Prices, Wages, Labor market, Cost and standard of living, Cost of living, Manpower policy

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