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An authoritative guide to the transformation of the Bank of England into a modern inflation-targeting independent central bank.
List of contents
1. Introductory; 2. Foreign Fetters; 3. The Performance of the UK Economy; 4. The Inexplicable in Pursuit of the Uncontrollable: Monetary Strategy; 5. "A Good Deal of Bad Advice": The Battle over Policy Control; 6. The Long Shadow of the Deutschemark: The Exchange Rate Alternative; 7. Hong Kong: Bank Crises and Currency Crises; 8. Shaved Eyebrows: Banking and Financial Supervision; 9. Tunneling Deep: The Bank and the Management of British Industry; 10. Great Leap in the Dark: The Bank, the Delors Committee and the Euro; 11. The Spine Theory and its Collapse: The ERM and the 1990s Recession; 12. "You can't be in and out at the same time:" The Legacy of Delors; 13. Horses for Courses: The Drive for Independence; 14. Failure of Internal Communication: The Development of Banking Supervision in the 1990s; 15. The New Bank: A University of Threadneedle Street?; 16. Epilogue; Appendix 1. Biographies; Appendix 2. The History of Monetary Aggregates
About the author
Harold James is Professor of History and International Affairs and Claude and Lore Kelly Professor of European Studies at Princeton University.
Summary
This authoritative guide to the transformation of the Bank of England into a modern inflation-targeting independent central bank examines a revolution in monetary and economic policy and the modernization of British institutions in the late twentieth century.
Additional text
'Harold James's book tells the tale of the transformation of the Bank of England from its historical image as the most stately of central banks to its present reality as one of the most modern, efficient and impressive of the leading central banks. This book describes in interesting detail the reforms following the Bank's independence.' Stanley Fischer, BlackRock
