The Economic Policies of European Governments, Part I: Monetary Policy

Andrew T. Cowart

British Journal of Political Science, 1978, vol. 8, issue 3, 285-311

Abstract: Rapidly changing economic conditions and the acceptance by governments of the responsibility for those conditions have together provided one of the most volatile and perplexing policy contexts for governments in the post-war era. The volatility of economic policy is inherent in its potential for change over the short run. It can take several years before changes are approved and implemented in order to deal with failures in social welfare programmes, transport services, or redistributive taxation provisions. In contrast, the instruments of economic policy may be altered on a daily, monthly, quarterly or yearly basis as conditions change.

Date: 1978
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