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

Peter B Kenen author

Format:Hardback

Publisher:Harvard University Press

Published:31st Jan '60

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British Monetary Policy and the Balance of Payments, 1951–1957 cover

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.

ISBN: 9780674082755

Dimensions: unknown

Weight: 544g

384 pages