J. C. R. Dow, Iain D. Saville, I. D. Saville

A Critique of Monetary Policy

Theory and British Experience

• Broschiertes Buch

Produktbeschreibung

This book is both a theory of monetary policy, and an examination of how it has worked in the UK. It first analyses the behaviour of the banking system, and then the difficulties of central bank control. The authors argue that money creation is an endogenous process, determined partly by the price level, and not the other way round.

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Challenging accepted wisdom of monetary theory, this study of the theory of monetary policy in England analyzes the behavior of the banking system and the difficulties of central bank control, and argues that money creation is an endogenous process, determined partly by the price level.

Produktdetails

• Verlag: OUP Oxford
• Seitenzahl: 284
• Erscheinungstermin: 1. August 1996
• Englisch
• Abmessung: 229mm x 152mm x 17mm
• Gewicht: 465g
• ISBN-13: 9780198283195
• ISBN-10: 0198283199
• Artikelnr.: 21252933

Inhaltsangabe

Introduction
Part I: The Behaviour of the Financial System
The Macroeconomic Behaviour of the Banking System
The Behaviour of Interest Rates: the Theoretical Background
The Behaviour of Interest Rates Continued
The Behaviour of Exchange Rates
Government Transactions, Money, and Interest Rates
Part II: Monetary Control and the Course of the Aggregates: UK Monetary Policy since 1971
Central-bank Rate as an Instrument of Monetary Control
Monetary Base Control
The Corset, Overfunding, and Banking Supervision
Monetary Growth since the mid-1960s
Part III: Conclusions: The Limitations and Role of Monetary Policy
Monetary Policy Without Monetary Targets
Bibliography
Index