Notice bibliographique
- Notice
Type(s) de contenu et mode(s) de consultation : Texte noté : électronique
Auteur(s) : Allen, William Anthony (1949-....). Fonction indéterminée
Titre(s) : Monetary Policy and Financial Repression in Britain. 1951-59 [Texte imprimé] / by W. Allen
Publication : London : Palgrave Macmillan, 2014
Description matérielle : 1 vol. (XII-287 p.) ; 22 cm
Collection : Palgrave Studies in Economic History, ISSN 2662-6497
Lien à la collection : Palgrave studies in economic history
Note(s) : Includes bibliographical references and index
British monetary policy was reactivated in 1951 when short-term interest rates were
increased for the first time in two decades. The book explores the politics of formulating
monetary policy in the 1950s and the techniques of implementing it, and discusses
the parallels between the present monetary situation and that of 1951
Sujet(s) : Politique monétaire
Indice(s) Dewey :
339.509 41 (23e éd.) = Politique macro-économique - Îles Britanniques
Identifiants, prix et caractéristiques : ISBN 1137383828. - ISBN 9781137383822 (br.)
Identifiant de la notice : ark:/12148/cb46541465x
Notice n° :
FRBNF46541465
(notice reprise d'un réservoir extérieur)
Table des matières : Cover; Contents; List of Figures and Tables; Preface; 1. Introduction; 2. 1945-51:
Labour's Macro-Economic Policies; 2.1 The state of the economy and the financial system;
2.2 Monetary policy; 3. 1951-52: The Reactivation of Monetary Policy; 3.1 The change
of government; 3.2 Conservative fiscal policy; 3.3 How monetary policy was reactivated;
3.4 Academic reaction; 3.5 Reactivation of British monetary policy and the 'accord'
in the U.S.A.; 4. 1952-54: Years of Growth; 4.1 Why external pressures eased?; 4.2
The debate on the effects of policy tightening; 4.3 The recovery of 1953-54
5. Moves towards Convertibility and Their Implications for Monetary Policy6. Short-term
Interest Rates in Late 1952 to Mid-1954; 6.1 Two rate cuts; 6.2 Afterthoughts; 7.
Government Debt Management 1952-54; 7.1 The government's financing needs; 7.2 Rolling
over Serial Funding; 7.3 Market conditions improve; 7.4 Assessment; 8. The Debacle
of 1955; 8.1 Changing market conditions, late 1954 to March 1955; 8.2 Two budgets
and a credit squeeze; 8.3 The Tuke affair; 8.4 The immediate effects of the credit
squeeze; 9. 1956: Macmillan as Chancellor; 9.1 Late 1955 to Spring 1956
9.2 The review of monetary organisation9.3 The Suez crisis; 10. 1957: The Year of
Thorneycroft; 10.1 Recovery from the Suez crisis; 10.2 The Budget and phase 1 of the
struggle over monetary policy; 10.3 Reserve losses, phase 2 of the struggle over monetary
policy and the 7% Bank rate; 10.4 The working group on credit control and the aftermath
of the struggle; 11. 1958: The Sunny Uplands; 11.1 Getting Bank rate down to 5%; 11.2
The end of the advances ceiling and the introduction of the Special Deposits scheme;
11.3 Getting Bank rate down to 4%, and Operation Unicorn
12. 1959: Here We Go Again12.1 Contemporary theories of inflation; 12.2 The Prime
Minister, the 1959 election and economic policy; 12.3 The weakening of sterling and
the beginning of a new cycle; 13. Monetary Policy Techniques; 13.1 Bank rate; 13.2
Operations in bills; 13.3 Operations in bonds; 13.4 Foreign exchange and gold operations;
14. Financial Repression; 14.1 Definition of financial repression; 14.2 Financial
repression in Britain in the 1950s; 14.3 Moral suasion, or 'ear stroking'; 14.4 The
effects and limits of financial repression
15. Management and Communication of Monetary Policy15.1 Power and influence; 15.2
Cobbold and his advisers; 15.3 Communication; 16. An Assessment of Monetary Policy;
16.1 Excess demand, inflation and inflationary expectations; 16.2 Criticisms of monetary
policy; 16.3 Fiscal dominance; 16.4 The Radcliffe report; 16.5 Was there a better
way?; 16.6 The expansionism of 1959; 17. Epilogue: The Next Reactivation of Monetary
Policy; Appendix A: Macroeconomic and Financial Data; Appendix B: 'Above the Line'
and 'Below the Line' in the Exchequer Accounts
