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A Critique of Monetary Policy J. C. R. Dow (Visiting Fellow, Visiting Fellow, National Institute for Economic and Social Research formerly Economics Director, Bank of England)

A Critique of Monetary Policy By J. C. R. Dow (Visiting Fellow, Visiting Fellow, National Institute for Economic and Social Research formerly Economics Director, Bank of England)

A Critique of Monetary Policy by J. C. R. Dow (Visiting Fellow, Visiting Fellow, National Institute for Economic and Social Research formerly Economics Director, Bank of England)

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Summary

In this book, the authors expound a theory of monetary policy, and examine how it has worked in the UK. They analyse the behaviour of the banking system and the difficulties of central bank control. In a clearly written account they explain the changes taking place in monetary policy.

A Critique of Monetary Policy Summary

A Critique of Monetary Policy: Theory and British Experience by J. C. R. Dow (Visiting Fellow, Visiting Fellow, National Institute for Economic and Social Research formerly Economics Director, Bank of England)

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.

A Critique of Monetary Policy Reviews

`The work that made the deepest impression on me because of the great practical importance of its conclusions and novelty of its argument went to the heart of the controversy over monetarism ... The book has started off a major controversy that will no doubt continue ... its influence is sure to grow.' Alec Cairncross
`A formidable critique of monetary policy.' Times
`A book that monetarists of all varieties will neglect at their peril... The work will become a standard textbook.' Samuel Brittan, Financial Times
`the recent demise ... of money-growth targetting as the centrepiece of monetary policy has created something of an intellectual vacuum [which the book] is an attempt to fill ... a skilful blending of theoretical and historical analysis geared to the generation of policy-relevant conclusions ... thoughful, closely argued and readable; it will serve as a useful antidote to the stultifying parochialism of so much American macroeconomics.' Laidler
'a careful empiricism which pays attention to the significance of local institutional idiosyncrasies and a skillful blending of theoretical and historical analysis geared to the generation of policy-relevant conclusions ... These qualities are very much on display in this book.' David Laidler, University of Western Ontario, Journal of Economic Literature

Table of Contents

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

Additional information

GOR002908514
9780198283195
0198283199
A Critique of Monetary Policy: Theory and British Experience by J. C. R. Dow (Visiting Fellow, Visiting Fellow, National Institute for Economic and Social Research formerly Economics Director, Bank of England)
J. C. R. Dow (Visiting Fellow, Visiting Fellow, National Institute for Economic and Social Research formerly Economics Director, Bank of England)
Clarendon Paperbacks
Used - Very Good
Paperback
Oxford University Press
1990-05-24
286
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - A Critique of Monetary Policy