Monetary Targets: Their Nature and Record in the Major Economies

M. D. K. W. Foot
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M. D. K. W. Foot: Bank of England

Chapter 1 in Monetary Targets, 1981, pp 13-61 from Palgrave Macmillan

Abstract: Abstract Undoubtedly the major change this decade in the presentation—if not the aims—of monetary policy in many advanced economies has been a move away from the pursuit of an interest rate objective to the formal announcement of a target rate of growth for some monetary aggregate. It is no simple task to trace this development and only certain aspects receive detailed consideration here. Notes, indicated by superior numbers and drawn together at the end of the chapter, have therefore been used extensively, to cover certain points only briefly noted in the main text and also to illustrate arguments by quotations from senior central bank officials and their economists. References to published sources are shown in parentheses and also listed at the end of the chapter.

Keywords: Interest Rate; Monetary Policy; Real Exchange Rate; Money Supply; Nominal Interest Rate (search for similar items in EconPapers)
Date: 1981
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DOI: 10.1007/978-1-349-16555-1_2

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