Would it Matter if the British Chancellor of the Exchequer No Longer Controlled Monetary Policy?

Charles Goodhart

Chapter 30 in European Monetary Union: The Kingsdown Enquiry, 1996, pp 195-199 from Palgrave Macmillan

Abstract: Abstract There is some tendency for commentators to claim that global integration of the world’s main financial markets has significantly undermined the ability of the authorities in any one country — always excepting the USA — to maintain sovereign control over its own domestic monetary policy. This argument can be much exaggerated; marginal changes in the limits to the authorities’ ability to determine their own domestic monetary policies are a matter of degree rather than a sea change.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Exchange Rate Regime; Monetary Authority (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24825-4_30

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DOI: 10.1007/978-1-349-24825-4_30

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