If my maths is right, someone on a typical £27k salary is about £4000/year worse off *just due to fall in £* since 2015 general election.
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What model have you used for impact of forex rates on individual incomes? Obviously, won't be direct, since not all goods dollar denominated
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I used dollar as proxy since gbp/usd is a fairly standard index. AFAICT things look slightly worse vs EUR, slightly better vs CNY.
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the £4k is the drop in international purchasing power. Obv not all expenditure is intl, but a fair % is (esp fuel, food, manufactured goods)
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I'm no economist, but that seems simplistic - see http://www.bankofengland.co.uk/publications/Pages/speeches/2015/839.aspx … for a discussion of "exchange rate pass-through"
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Interesting, thanks.
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