The Meaning of Internal Balance’ Thirty Years On
Bibliographic Data
| ID | 9718494 |
|---|---|
| Authors | Charles Bean (0000-0002-6524-8280, Bank of England, corresponding author) |
| Year | 2009 |
| Volume | 119 |
| Issue | 541 |
| Pages | F442-F460 |
| Publication date | 2009-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2009.02315.x |
| OpenAlex | W2044548929 |
| Language | EN |
| Citations received | 1 |
| References cited | 27 |
In his Nobel Prize lecture, Meade advocated allocating demand management policies to pursuing price stability, reformed wage-fixing institutions to achieving full employment and foreign exchange policies to maintaining balance-of-payments equilibrium. But with respect to the first, he advocated a target for nominal income rather than the price level. I evaluate Meade's programme with the benefit of hindsight and in the light of experience with inflation targets. I also discuss some of the issues associated with the application of flexible inflation targets, as well as the extent to which financial stability considerations should affect the conduct of monetary policy. Copyright © Bank of England. Journal compilation © Royal Economic Society 2009
Balance (ability · Balance of payments · Economics · Hindsight bias · Inflation (cosmology · Keynesian economics · Labour economics · Macroeconomics · Meaning (existential · Monetary economics · Monetary policy · Price of stability · Wage · Economic Theory and Policy · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
Monetary Policy Rules and Macroeconomic Stability
Were There Regime Switches in U.S. Monetary Policy?
The Optimal Degree of Commitment to an Intermediate Monetary Target
The Aftermath of Financial Crises
Bargaining Structure, Corporatism and Macroeconomic Performance
The Role of Monetary Policy
Rules Rather than Discretion
A Positive Theory of Monetary Policy in a Natural Rate Model
The Theory of International Economic Policy
Phillips Curves, Expectations of Inflation and Optimal Unemployment over Time
After Stagflation
The New UK Monetary Arrangements
Targeting Nominal Income
Macro-economic Policy
"The Meaning of "Internal Balance
The Role of Shocks and Institutions in the Rise of European Unemployment
The Effect of Discounting on Policy Choices in Inflation Targeting Regimes
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,06 |
| Citation span | 2010 - 2010 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |