Book contents
- The Money Minders
- The Money Minders
- Copyright page
- Contents
- Figures
- Preface
- Acknowledgements
- 1 Of Gold and Paper Money
- 2 The Great Depression and Its Legacy
- 3 Fine-Tuning Out of Control
- 4 A Science of Monetary Policy
- 5 Where the Great Experiment Went Wrong
- 6 The New Art of Central Banking
- Epilogues
- Epilogue 1: Why Forecast?
- Epilogue 2: Monetary Policy in Troubled Times
- A Final Word
- References
- Index
Epilogue 2: - Monetary Policy in Troubled Times
Published online by Cambridge University Press: 17 February 2022
- The Money Minders
- The Money Minders
- Copyright page
- Contents
- Figures
- Preface
- Acknowledgements
- 1 Of Gold and Paper Money
- 2 The Great Depression and Its Legacy
- 3 Fine-Tuning Out of Control
- 4 A Science of Monetary Policy
- 5 Where the Great Experiment Went Wrong
- 6 The New Art of Central Banking
- Epilogues
- Epilogue 1: Why Forecast?
- Epilogue 2: Monetary Policy in Troubled Times
- A Final Word
- References
- Index
Summary
Assessing the mix of monetary and fiscal policies is a regular feature of informed commentary.1 The timeless issues relating to the framework for monetary and fiscal policy and their appropriate degree of co-ordination have been exposed by the COVID-19 crisis. I have previously argued that the sequence of arbitrary fiscal rules that have been formulated by successive governments in the past decade do not make much economic sense, as they do not match a well-defined social welfare criterion.2 I have also argued that the framework for monetary policy needs a close examination after the experiences of the global financial crisis and nearly twenty-three years of operational independence of the Bank of England.3
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- The Money MindersThe Parables, Trade-offs and Lags of Central Banking, pp. 186 - 198Publisher: Cambridge University PressPrint publication year: 2022