William A Allen

The Bank of England and the Government Debt

• Broschiertes Buch

Produktbeschreibung

This book analyzes the operations of the Bank of England in the gilt-edged market during the mid-twentieth century. Drawing heavily on the archives and daily ledgers of the Bank of England, William A. Allen presents a specialized and revealing study of the practice and governance of British monetary policy.

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Produktdetails

• Verlag: Cambridge University Press
• Seitenzahl: 276
• Erscheinungstermin: 3. Oktober 2019
• Englisch
• Abmessung: 229mm x 152mm x 16mm
• Gewicht: 413g
• ISBN-13: 9781108469524
• ISBN-10: 1108469523
• Artikelnr.: 57971441

Autorenporträt

William A. Allen is a Visitor at the National Institute of Economic and Social Research. He worked at the Bank of England from 1972 to 2004, serving as a senior official in the Gild-Edged Division from 1982 to 1986.

Inhaltsangabe

1. Introduction
2. Price and quantity discovery, market making and liquidity in the gilt market
3. Government securities and the structure of the Stock Exchange
4. Government debt management before 1928
5. The gilt market and the Issue Department 1928-39
6. Government debt management and the gilt market in the Second World War
7. Post-War: 1945-51
8. The gilt market from the reactivation of monetary policy until 1960
9. Gilt market liquidity in the 1960s
10. The high tide of intervention: 1960-66
11. The conflict with monetary policy recognised and addressed: 1967-70
12. Competition and credit control, 1970-72
13. The Bank of England's contribution to market liquidity
14. Governance in practice
15. Conclusions
16. Epilogue: bearing the cost of providing liquidity.