A Critique of Monetary Policy

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

Control (management) · Credit channel · Divisia monetary aggregates index · Economics · Forward guidance · Index (typography) · Inflation targeting · Interest rate · Macroeconomics · Monetarism · Monetary base · Monetary economics · Monetary hegemony · Monetary policy · Economic Theory and Policy · Economic, financial, and policy analysis · Global Financial Crisis and Policies