The Triumph of Paper Credit

  • Michael Mussa
Chapter
Part of the Studies in Banking and International Finance book series (SBIF)

Abstract

It is always a pleasure to return to London, where I spent fifteen happy months associated with the International Monetary Research Programme in 1975–6. Those were eventful days in Britain’s postwar economic history — in a manner that is relevant to the subject of this lecture. In 1975, the inflation rate in the United Kingdom hit an historic peak of 25 per cent.

Keywords

Exchange Rate Monetary Policy Inflation Rate Federal Reserve European Central Bank 
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Copyright information

© Forrest Capie and Geoffrey E. Wood 1996

Authors and Affiliations

  • Michael Mussa

There are no affiliations available

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