Chapter

The Limitations to the Role of Monetary Policy

J. C. R. Dow and I. D. Saville

in A Critique of Monetary Policy

Published in print May 1990 | ISBN: 9780198283195
Published online November 2003 | e-ISBN: 9780191596186 | DOI: http://dx.doi.org/10.1093/0198283199.003.0012

Series: Clarendon Paperbacks

 The Limitations to the Role of Monetary Policy

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Focuses on the limitations encountered by the monetary authorities when trying to control the economy. The argument builds on the previous chapters to show the problems with fiscal instruments such as the corset, the ineffectiveness of monetary base control, and a discussion on equilibrium analysis. It also examines limitations of the use of interest rates and the authority's control over exchange rates. The authors finish by offering some brief conclusions about monetary policy since the mid‐1970s.

Keywords: corset; equilibrium analysis; exchange rates; inflation; interest rates; monetary base controls; monetary growth; monetary policy

Chapter.  6982 words. 

Subjects: Macroeconomics and Monetary Economics

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