The UK Recession in Context — What Do Three Centuries of Data Tell Us?

Ryland Thomas · Sally Hills · Nicholas H. Dimsdale

107 citations0/0 files storedRePEc: Research Papers in Economics

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Historical Economic and Social Studies Monetary Policy and Economic Impact Economic Theory and Policy

Abstract

The Quarterly Bulletin has a long tradition of using historical data to help analyse the latest developments in the UK economy. To mark the Bulletin’s 50th anniversary, this article places the recent UK recession in a long-run historical context. It draws on the extensive literature on UK economic history and analyses a wide range of macroeconomic and financial data going back to the 18th century. The UK economy has undergone major structural change over this period but such historical comparisons can provide lessons for the current economic situation.

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