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Macroeconomic Policy in Britain 1974-1987 : National Institute of Economic and Social Research Economic - Andrew J. C. Britton

Macroeconomic Policy in Britain 1974-1987

National Institute of Economic and Social Research Economic

Paperback Published: 28th November 1994
ISBN: 9780521478335
Number Of Pages: 386

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This book is a survey of macroeconomic policy in Britain in the 1970s and 1980s, a subject at the centre both of political debate, and professional controversy, and argues that there were important elements of continuity in the way decisions were actually taken year-by-year and month-by-month in the Treasury and the Bank of England in this period. It is written by Andrew Britton, the director of the National Institute of Economic and Social Research, and previously a senior economist at the Treasury, and is a sequel to the NIESR studies by Christopher Dow, (1945-1960), and by Frank Blackaby and others (1960-74). Part One is a chronological account of policy actions and their setting. Part Two provides a history of ideas, describing the most influential writings of economists in Britain during this period, while Part Three looks at the influence of the world economy on Britain. Parts Four and Five include several elements of new statistical analysis concerning the way in which policy instruments were used, in particular the signals to which policymakers reacted when setting interest rates. The effects of policy actions are estimated using the Institute's macroeconomic model. Amongst the other issues addressed are: the consequences of floating exchange rates; the reasons for the upward trend in unemployment; the relationship between money and prices; and the effects of fiscal and monetary policy on the growth potential of the economy. A full calender of events and an annotated bibliography are included as further aids to the reader.

Preface
Introduction
Narrative of Events
Prelude: the last years of the health government
The labour government 1974-9
The conservative government 1979-83
Conservative government continued 1983-January 1985
History Of Ideas
The seventies, developments of keynesianism
The seventies, the monetarist challenge
The eighties, monetarism in practice
The eighties, alternatives to monetarism
Britain and the World Economy
The world economy 1974-87
The British economy compared with others
The Conduct Of Policy
Introductory note on methods of analysis
The conduct of monetary policy
The conduct of fiscal policy
The Outcome For Policy Objectives
external balance and the exchange rate
Unemployment
Inflation
Output growth
Conclusions
Conclusions
Appendix
Charts of main economic indicators
Bibliographic notes
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521478335
ISBN-10: 0521478332
Series: National Institute of Economic and Social Research Economic
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 386
Published: 28th November 1994
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 22.68 x 15.09  x 2.13
Weight (kg): 0.54

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