The choice of exchange rate regime
Article Abstract:
An analysis of the influences surrounding the choice of monetary regime by the British government reveals that the current monetary policy of the UK government that replaces the exchange rate mechanism (ERM) of the European Union may be ideal upon the implementation of several modifications. Texts advocate that the government should either ignore interest rate changes or fix it but either choice would be disastrous for the UK government so wide currency bands in the ERM would be the best course of action.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1997
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The Post-ERM framework for monetary policy in the United Kingdom: bounded credibility
Article Abstract:
An analysis of the new monetary policy being used by the United Kingdom to maintain a target inflation and exchange rate reveals that the post-exchange rate mechanism being employed by the British government may not be able to reach its target of keeping inflation rates down. Furthermore, the study also reveals that the Bank of England's autonomy brought about by the new policy may bring about the reduction of its credibility and the possible imposition of old monetary stabilization mechanisms.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1997
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Britain's fiscal problems
Article Abstract:
An evaluation of the financial situation of the British government reveals that the British government's financial woes stem from the unusually high budget deficits. The budget deficits between 1951-1985 have also been coupled by high government expenditure rates and low rate tax receipts. Public borrowing by the government is also analyzed and the study reveals that it has a direct effect on the level of employment and public expenditure in the country.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1997
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