The Temporary Re-emergence of Rules

Pierluigi Ciocca
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Pierluigi Ciocca: Accademia Nazionale dei Lincei

Chapter 5 in Stabilising Capitalism, 2015, pp 24-30 from Palgrave Macmillan

Abstract: Abstract The inflation of the 1970s brought to the fore the approach opposite to T-B-K-M. That inflation — which continued until 1985 with average annual peaks of 13 per cent in the OECD countries — was ascribed by many, not to the explosion of the relative prices of energy and labour and the fiscal crisis of the State, but to an alleged monetary laxity on the part of the central banks, “distracted” by the multiplicity of duties assigned to them, including financial supervision.1

Keywords: Monetary Policy; Central Bank; European Central Bank; Price Stability; Taylor Rule (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-55551-9_5

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DOI: 10.1057/9781137555519_5

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