A critique of monetary policy : theory and British experience
著者
書誌事項
A critique of monetary policy : theory and British experience
Clarendon Press, 1988
- pbk
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注記
Bibliography: p. [249]-254
Includes index
内容説明・目次
- 巻冊次
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pbk ISBN 9780198283195
内容説明
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.
目次
- 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
- 巻冊次
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ISBN 9780198285991
内容説明
This book is both a theory of monetary policy and an examination of how it has worked in the UK. It first analyzes 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 vice versa. The book challenges some of the accepted wisdoms of monetary theory, providing a basic explanation of why monetary targets are now being abandoned, and makes proposals for the post-target era.
目次
- Introduction. Part 1 The behaviour of the financial system: The macroeconomic behaviour of the banking system
- the behaviour of interest rates - the theoretical background
- the behaviour of exchange rates
- government transactions, money and interest rates. Part 2 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 3 Conclusions: The limitations and role of monetary policy
- monetary policy without monetary targets. Bibliography. Index.
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