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Title
Modelling the service sector.
Abstract
A summary of the research paper "Working Paper No. 500" written by banking staff Stephen Millard and Philip King for Great Britain's central bank, the Bank of England is presented. Topics discussed include how service sector companies in Great Britain operate, the significant features of the service sectors as identified by the results of the study conducted by the authors, and the macroeconomic implications of the sector in terms of output, sectoral and aggregate productivity, and inflation.