The Operation of Money Supply Targets

Tim Congdon

Chapter 4 in Monetary Control in Britain, 1982, pp 59-103 from Palgrave Macmillan

Abstract: Abstract The arithmetic of monetary policy deals with accountancy relationships. These are valuable because they identify constraints on the authorities, but they say nothing about the causal processes behind monetary expansion or about the methods used to regulate it. The work of the present chapter is to examine these topics and describe the British system of monetary control. As will become clear, to refer to a “system” is perhaps to dignify the rather motley set of arrangements which have evolved. However, they have deep historical roots and perhaps more functional coherence than they are sometimes credited with.

Keywords: Interest Rate; Monetary Policy; Money Supply; Liquid Asset; Monetary Base (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-04728-4_4

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