Intermediate Targets and Macroeconomic Policy

Anonymous

National Institute Economic Review, 1982, vol. 99, 61-67

Abstract: Throughout the 1950s and 60s the framework within which macroeconomic policy was conducted in the UK appeared to be relatively uncontentious. Government policy was designed to achieve certain economic objectives, which typically included full employment, stable prices, economic growth and balance of payments equilibrium, by appropriately setting various instruments of policy, such as tax rates and the exchange rate. The relationship between particular instruments and objectives was often disputed, and the advisability of ‘fine tuning’ was questioned, but the basic ‘instruments to objectives’ approach to policy was generally accepted.

Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:cup:nierev:v:99:y:1982:i::p:61-67_5

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