music and monetary policy

Over the quarter of a century with which this book is concerned, the UK has had an extraordinarily diverse experience of monetary policy and monetary regimes. Monetary policy has been transformed, from attempts to control broad money from the supply side with the use of indirect controls on banks' lending, to an almost exclusive focus on interest rates in a context of inflation targeting. The exchange rate has at times been fixed, at other times almost perfectly flexible, and at other times again more or less managed. Meanwhile the real economy has experienced large variations in growth, together with what most observers have seen as a sharp rise and then a gradual decline in the NAIRU; inflation has varied between 25% and 2%. This is a book about the making of monetary policy in the UK, about how and why the monetary regimes changed over the period, and how and why the monetary authorities took the decisions they did about monetary growth, interest rates and the exchange rate. It includes separate chapters on monetary targeting, on policy in the second half of the 1980s, on the UK's brief membership of the ERM, on inflation targeting between 1993 and 1997, and on inflation targeting with instrument independence since 1997. It also contains a detailed analysis of the factors that influenced interest rate decisions and monetary policy with particular reference to the exchange rate, and an investigation of the nature and reasons for interest rate smoothing in the UK. «David Cobham has written an excellent history of British monetary policy over the final quarter of the 20th Century. His judgement of the political and economic context is sound and sensible. It is well written with clear and helpful tables and charts. Besides the careful historical reporting, Cobham adds some valuable extra research of his own, notably on the interaction between monetary policy and the exchange rate (Chapter 9) and on the reasons for interest rate 'smoothing' (Chapter 10).» Charles Goodhart, Norman Sosnow Professor of Banking and Finance at the London School of Economics «…an essential guide covering everything the reader could ever want to know about the UK's turbulent monetary history over the last quarter century» Charles Bean, Chief Economist, Bank of England



Что искали на сайте
кружка printio пионы | dsquared2 пляжные брюки и шорты | cs 12 24 in s hook s hook not include pot | 110cm wide wedding dress lace embroidery diy women clothes materials clothing fabric accessories ivory white church happy hour | printio soviet tank | faux pearl espadrille flatform sliders | linux® administrator street smarts | best deal quartz watch women fashion tower pattern diamond dial watches men faux leather watch women s dress clock montre relo | 14pcs set stainless steel dumplings wrappers cutter maker tools cake moulds mousse ring round stainless steel cookie molds set | брюки fiorella rubino fiorella rubino fi013ewbeeg7 | cute resin bride and bridegroom toy doll | резиновые сапоги playtoday playtoday mp002xg006pn | autumn summer new women shirt dress long sleeved female dresses slim fashion party office lady sundress plus size casual rob | 350a 500a gas welding gun shunt connecting rod insulation cover bent pipe nozzle gas welding gun accessories welder gun parts | creative fun cheese snacks pu pocketbook coin bag girls purse small canvas purse cat coin purse | len deighton spy line | лампа энергосберегающая tdm sq0323 0054 | motorcycle atv riding scooter driving flying protective frame clear lens portable vintage helmet goggles glasses for 2009 buell xb12r | skeleton skull head silicone chocolate muffin cupcake candy ice cube mold halloween | issey miyake l eau d issey pour homme summer edition eau de toilette | macarons ceiling lamps rose colors metal lamp body acrylic lamp shade colorful post modern ceiling light led lighting fixture | батарейка perfeo алкалиновая pf lr6 4sh | кеды y | deadly animals | the shining |