01739cas a2200253 a 4500 AALejournalIMF000123 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451845914 1018-5941 BD-DhAAL BD-DhAAL Catao, Luis. Recession and Recovery in the United Kingdom in the 1990'+L927s : A Vector Autoregression Approach / Luis Catao, Ramana Ramaswamy. Washington, D.C. : International Monetary Fund, 1995. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper uses a vector autoregression (VAR) approach to identify the causes of the 1990-92 recession in the UK. The VAR approach is shown to be particularly pertinent for quantifying the relative magnitude of the different demand shocks, and in decomposing them into monetary and expectational factors. The main finding is that the recent recession was precipitated primarily by shocks to consumption, and that monetary factors explain just part of this contraction. The VAR model also offers interesting insights about the long duration of the recession and the nature of the recovery that is currently underway. Mode of access: Internet Ramaswamy, Ramana. IMF Working Papers; Working Paper ; No. 1995/040 Full text available on IMF http://elibrary.imf.org/view/journals/001/1995/040/001.1995.issue-040-en.xml IMF e-Library