A critique of monetary policy: theory and British experience

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Monetary Policy and Economic Impact Economic Theory and Policy Economic theories and models

Abstract

This book is both a theory of monetary policy, and an examination of how it has worked in the UK. It first analyses the behaviour of the banking system, and then the difficulties of central bank control. The authors argue that money creation is an endogenous process, determined partly by the price level, and not the other way round.

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1994The Concept of Information, Intractable Uncertainty, and the Current State of the “Efficient Markets” Theory: A Post Keynesian View 1992The Determination of Sterling M3, 1963-88: An Evolutionary Macroeconomic Approach 1993Money, Interest Rates, and Monetarist Policy: Some More Unpleasant Monetarist Arithmetic?

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