| Description |
1 online resource (252 pages) |
| Contents |
Cover; Half Title; Title Page; Copyright Page; Original Title Page; Original Copyright Page; Table of Contents; Preface; 1. Introduction; 1.1 Introduction; 1.2 The Politics of Monetary Control; 1.3 The Definition of Money; 1.4 Monetary Theory and Monetary Policy; 1.5 An Open Economy; 1.6 Techniques of Control; 1.7 Reserve Ratios in the UK; 1.8 Monetary Policy in the UK; 1.9 Issues in Monetary Policy; References; 2. Techniques of Monetary Control; 2.1 Introduction; 2.2 The Creation of Money; 2.3 Control of the Money Supply: A Formal Model I: A Closed Economy; 2.4 The Techniques |
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2.5 The Open EconomyAppendix 2A: Accounting Conventions and Banking Sector Models; Appendix 2B: Monetary Theory of the Balance of Payments; References; 3. Techniques of Control II: Portfolio Constraints and the Reserve Base System; 3.1 The Reserve Base System: The Formal Model; 3.2 The Operation of the Reserve Base System; 3.3 The Reserve Base System: The Tools; 3.4 The Reserve Base System: The Behavioural Underpinnings; 3.5 Reserve Base Systems: The Case For and Against; 3.6 Reserve Base: Some Extensions; 3.7 The Reserve Base: Some Conclusions; References; 4 Techniques of Control III |
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4.1 Other Techniques of Control4.2 The Criteria of Choice; References; 5. The New Approach; 5.1 The Road to the 'New Approach': Monetary Policy in the UK 1952-71; 5.2 The Effects and Effectiveness of the 'Old Approach'; 5.3 The New Approach: The Theoretical Background; 5.4 Debt Management I: The Background; 5.5 Debt Management II: The 'New Approach'; 5.6 Escape Clauses and Ambiguities; 5.7 Special Deposits and Reserve Ratios; 5.8 The New Approach: A Summary; Appendix: Principal Events and Data 1952-71; References; 6. The History of Competition and Credit Control |
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6.1 The Era of Easy Credit, May 1971-June 19726.2 The Reappraisal, June-October 1972; 6.3 Willing the End but Fearing the Means? October 1972-July 1973; 6.4 Competition and Credit Control in Action, July-December 1973; Appendix: Principal Events and Data 1971-3; References; 7. Competition and Credit Control: An Analysis; 7.1 Defences of the New Approach; 7.2 The Problems of Competition and Credit Control; 7.3 The Effects of Competition and Credit Control; 7.4 The Money Supply and Inflation; References; 8. The New 'New Approach'; 8.1 The IBELs Ceiling |
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8.2 The Gilts' Market: The Duke of York Strategy8.3 Alterations in the PSBR; 8.4 Money Supply Targets; References; 9. The Labour Government's Monetary Policy; 9.1 A New Scheme and a New Government, January-October 1974; 9.2 Company Liquidity and the Social Contract, October 1974-June 1975; 9.3 Labour Conservatism, July 1975-December 1976; 9.4 The IMF and After, December 1976-June 1977; 9.5 Complacency and its Consequences, July 1977-May 1979; 9.6 Labour's Monetary Policy: An Assessment; Appendix: Principal Events and Data 1974-9; References; 10. Plus Ça Change? |
| Summary |
Intended as a successor to Monetary Policy and Credit Control (Croom Helm, 1978; Routledge Revivals, 2013), this book, first published in 1982 with a revised edition in 1984, traces the changes in approach to monetary control in the U.K. throughout the 1970s, and the consequences for policy and the British economy. The book considers the widely-publicised proposals for 'reserve base' or 'monetary base' control of the financial system, including a critique of the 1980 Bank of England Green Paper. David Gowland concludes with an analysis of the 1979 Conservative Government's mon |
| Notes |
10.1 The Implications of 'Monetarism' |
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Print version record |
| Form |
Electronic book
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| ISBN |
9781135009335 |
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1135009333 |
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