British Monetary Policy and the Balance of Payments, 1951-1957

British Monetary Policy and the Balance of Payments, 1951-1957

by Peter B. Kenen

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Overview

British Monetary Policy and the Balance of Payments, 1951-1957 by Peter B. Kenen

A detailed study of the revolution in Bank of England policy resulting from the government’s response to the 1954–55 balance-of-payments crisis, this is a first independent analysis. The author investigates the evolution of official thinking and appraises the impact of monetary policy in this crucial period. Peter Kenen reaches the unexpected conclusion that the Bank’s orthodox monetary policies played a relatively small part in the redress of payments disequilibrium, and that its most effective weapons were its most heterodox. Finally, he proposes ways in which the Bank of England can better control the credit base.

Product Details

ISBN-13: 9780674082755
Publisher: Harvard
Publication date: 01/28/1960
Series: Harvard Economic Studies Series , #116
Pages: 384
Product dimensions: 5.92(w) x 8.60(h) x 0.99(d)

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