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- Title
THE OBJECTIVES OF BRITISH MONETARY POLICY, 1951-1964.
- Authors
FISHER, DOUGLAS
- Abstract
The article presents a model of British monetary policy that includes the objectives, techniques, and trade-offs from 1951-1964. The author claims that the revival of the British monetary policy coincided with U.S. efforts to do the same, and attempts to negotiate the discomfort of a monetary policy faced with a differentiated set of financial institutions whose liabilities mirror those of commercial banks. The article reviews the policy objectives in terms of interest rates, price stability, full employment, a satisfactory balance of payments, and a satisfactory rate of growth. The article refers to the significance of the 1959 Radcliffe Report on monetary policy in those years.
- Subjects
UNITED Kingdom; UNITED States; MONETARY policy; BRITISH economic policy -- 1945-1964; BANKING industry; FINANCIAL institutions; LIABILITIES (Accounting)
- Publication
Journal of Finance (Wiley-Blackwell), 1968, Vol 23, Issue 5, p821
- ISSN
0022-1082
- Publication type
Article
- DOI
10.1111/j.1540-6261.1968.tb00319.x