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19 861 Ft
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Product details:
- Publisher Clarendon Press
- Date of Publication 24 May 1990
- ISBN 9780198283195
- Binding Paperback
- No. of pages286 pages
- Size 231x153x18 mm
- Weight 461 g
- Language English
- Illustrations line figures, tables 0
Categories
Short description:
In this book, Dow and Saville expound a theory of monetary policy, and examine how it has worked in the UK. Writing from personal experience of working in a central bank, they analyse the behaviour of the banking system and the difficulties of central bank control. In a clearly written account they explain the changes that are taking place in monetary policy, and challenge some of the accepted wisdoms of our time.
MoreLong description:
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.
`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
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
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