The Introduction of Money Supply Targets
With the defeat of inflation a top political priority in all the major economies, there has been a world-wide shift towards a style of macroeconomic management based on money supply control. Money supply targets, declared in advance and articulated clearly as a prime policy objective, are an expression of this shift. Although a relative newcomer in Britain, the practice of monetary targetry seems to have become firmly established.
KeywordsExchange Rate Interest Rate Monetary Policy Money Supply Budget Deficit
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Notes to Chapter 1
- (1).C. Goodhart Money, Information and Uncertainty Macmillan: London 1975, p. 242.Google Scholar