A Century of British Market Interest Rates, 1874–1975
the fallacy of the real-bills doctrine; the distinction between the first-round and ultimate effects of monetary change; the lag in effect of monetary change; the problem market participants faced in distinguishing relative from general price changes; the distinction between internal and external gold drains; the factors influencing the foreign exchanges including the role of purchasing power parity; how to bring inflation under control; the relation of the Bank of England to other English banks; types of effects of monetary disturbances on interest rates; the distinction between the market rate and the natural rate of interest and between nominal and real rates of interest.
KeywordsDepression Income Milton
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