Michael J Oliver
Biographic Data
| ID | 3841160 |
|---|---|
| NAME | Michael J Oliver |
| GIVEN NAMES | Michael J |
| FAMILY NAME | Oliver |
| SIGNATURE | OLIVER M J |
| AFFILIATIONS | Open University Business School Department of Accounting and Finance |
| ORCID | 0000-0002-1057-8020 |
| VERIFIED | Yes |
| TOTAL WORKS | 10 |
| TOTAL CITATIONS | 62 |
| WORKS AS AUTHOR | 10 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1999 |
| LATEST PUBLICATION YEAR | 2024 |
| H-INDEX | 2 |
Nonmonetary and monetary explanations for inflation
In a series of academic publications, Edward Nelson has contended that from the 1950s until the late 1970s, UK policymakers failed to recognise the primacy of monetary policy in controlling inflation. He argues that the highwater mark of monetary policy neglect occurred in the 1970s. This thesis has been rejected by Duncan Needham who has explored several experiments with monetary policy from the late 1960s and challenged the assertion that the a…
The capital market is dead’
This article describes how and why the Thatcher government introduced index‐linked gilts in 1981. It outlines the earlier deliberations by the monetary authorities during the 1950s and 1960s on how an indexed government security might help or hinder the fight against inflation. Although these discussions came to nothing, rising inflation and increasing difficulties with managing the gilt‐edged market during the 1970s revived interest in the index…
Capitalism, disability and ideology
The Bank of England, 1950s to 1979 – By Forrest Capie
The two sterling crises of 1964
In a recent article in this journal, Newton claimed that there were two sterling crises in the autumn of 1964 and that the government response to the second crisis followed a 'textbook reaction'. This comment challenges both suggestions and argues that there was one sterling crisis and that the government did not deal with the crisis adequately
Keynes, the Keynesians and monetarism – By Tim Congdon
Downhill from devaluation
The devaluation of 1967 and the float of 1972 have become two of the key cornerstones in the analysis of sterling under the Bretton Woods system. Sterling's fortunes between 1968 and 1972 have not been so well documented. This article uncovers new evidence about the pound for this period, including the British government's contingency plans for blocking the sterling balances as a means to negate the weakness of sterling following the 1967 devalua…
Learning and Change in 20th‐Century British Economic Policy
Despite considerable interest in the means by which policy learning occurs, and in how it is that the framework of policy may be subject to radical change, the “black box” of economic policy making remains surprisingly murky. This article utilizes Peter Hall's concept of “social learning” to develop a more sophisticated model of policy learning; one in which paradigm failure does not necessarily lead to wholesale paradigm replacement, and in whic…
Three Strikes
The macroeconomic policies of Mr Lawson
The recent ICBH Witness Seminar on the 1987 stock market crash was notable for the reluctance of Lord Lawson and Sir Peter Middleton to engage in any discussion on macroeconomic policy at the time of the crash. This article will show that as Chancellor, Lawson had made many ill‐judged decisions over monetary policy by October 1987 and continued to do so after the crash. The article will trace the origins of these decisions and examine how the wor…
Learning and Change in 20th‐Century British Economic Policy
Despite considerable interest in the means by which policy learning occurs, and in how it is that the framework of policy may be subject to radical change, the “black box” of economic policy making remains surprisingly murky. This article utilizes Peter Hall's concept of “social learning” to develop a more sophisticated model of policy learning; one in which paradigm failure does not necessarily lead to wholesale paradigm replacement, and in whic…
Downhill from devaluation
The devaluation of 1967 and the float of 1972 have become two of the key cornerstones in the analysis of sterling under the Bretton Woods system. Sterling's fortunes between 1968 and 1972 have not been so well documented. This article uncovers new evidence about the pound for this period, including the British government's contingency plans for blocking the sterling balances as a means to negate the weakness of sterling following the 1967 devalua…
The capital market is dead’
This article describes how and why the Thatcher government introduced index‐linked gilts in 1981. It outlines the earlier deliberations by the monetary authorities during the 1950s and 1960s on how an indexed government security might help or hinder the fight against inflation. Although these discussions came to nothing, rising inflation and increasing difficulties with managing the gilt‐edged market during the 1970s revived interest in the index…
The macroeconomic policies of Mr Lawson
The recent ICBH Witness Seminar on the 1987 stock market crash was notable for the reluctance of Lord Lawson and Sir Peter Middleton to engage in any discussion on macroeconomic policy at the time of the crash. This article will show that as Chancellor, Lawson had made many ill‐judged decisions over monetary policy by October 1987 and continued to do so after the crash. The article will trace the origins of these decisions and examine how the wor…
The macroeconomic policies of Mr Lawson
The recent ICBH Witness Seminar on the 1987 stock market crash was notable for the reluctance of Lord Lawson and Sir Peter Middleton to engage in any discussion on macroeconomic policy at the time of the crash. This article will show that as Chancellor, Lawson had made many ill‐judged decisions over monetary policy by October 1987 and continued to do so after the crash. The article will trace the origins of these decisions and examine how the wor…
Three Strikes
Learning and Change in 20th‐Century British Economic Policy
Despite considerable interest in the means by which policy learning occurs, and in how it is that the framework of policy may be subject to radical change, the “black box” of economic policy making remains surprisingly murky. This article utilizes Peter Hall's concept of “social learning” to develop a more sophisticated model of policy learning; one in which paradigm failure does not necessarily lead to wholesale paradigm replacement, and in whic…
Downhill from devaluation
The devaluation of 1967 and the float of 1972 have become two of the key cornerstones in the analysis of sterling under the Bretton Woods system. Sterling's fortunes between 1968 and 1972 have not been so well documented. This article uncovers new evidence about the pound for this period, including the British government's contingency plans for blocking the sterling balances as a means to negate the weakness of sterling following the 1967 devalua…
Keynes, the Keynesians and monetarism – By Tim Congdon
The Bank of England, 1950s to 1979 – By Forrest Capie
The two sterling crises of 1964
In a recent article in this journal, Newton claimed that there were two sterling crises in the autumn of 1964 and that the government response to the second crisis followed a 'textbook reaction'. This comment challenges both suggestions and argues that there was one sterling crisis and that the government did not deal with the crisis adequately
Capitalism, disability and ideology
The capital market is dead’
This article describes how and why the Thatcher government introduced index‐linked gilts in 1981. It outlines the earlier deliberations by the monetary authorities during the 1950s and 1960s on how an indexed government security might help or hinder the fight against inflation. Although these discussions came to nothing, rising inflation and increasing difficulties with managing the gilt‐edged market during the 1970s revived interest in the index…
Nonmonetary and monetary explanations for inflation
In a series of academic publications, Edward Nelson has contended that from the 1950s until the late 1970s, UK policymakers failed to recognise the primacy of monetary policy in controlling inflation. He argues that the highwater mark of monetary policy neglect occurred in the 1970s. This thesis has been rejected by Duncan Needham who has explored several experiments with monetary policy from the late 1960s and challenged the assertion that the a…
Economics (8 works) · History (6 works) · Political science (6 works) · Keynesian economics (5 works) · Law (5 works) · Political and Economic history of UK and US (4 works) · Housing, Finance, and Neoliberalism (3 works) · Law (3 works) · Monetary economics (3 works) · Monetary policy (3 works)