Reflections on Monetary Policy After 25 Years of the Mpc

Central Bank independence has become a key part of how the world economy operates. We examine the independence of the Bank of England since 1997 and how independence has worked in practice to control inflation and stimulate economic growth.

List of contents

1. Introduction Sean Holly, Michael McMahon, Stephen Millard and Anna Watson; 2. 25 years of bank of england independence: an international perspective Petra Geraats; Communication: 3. Reliable partners Ben Broadbent; 4. MPC monetary communication: children of the revolution(s) Delia Sih Chien Macaluso and Michael McMahon; 5. Central bank communication: never excuse, never explain Stephen Millard; Targets and Instruments: 6. The MPC remit at 25 – growing pains? Jens Larsen; 7. Raising the inflation target Tony Yates; 8. What have we learnt about unconventional monetary policy tools? Lessons from the global pandemic Charlotta Groth; 9. Finding new objectives, seeking new instruments David Cobham; Government debt management and monetary policy before and after the MPC William A. Allen; MPC Process: 10. An analysis of central bank decision-making Maria Demertzis, Catarina Martins and Nicola Viegi; 11. The decision-making process: nine members, one vote Richard Barwell; Lessons for Central Bank Independence: 12. The MPC: then and now Mervyn King; 13. Outlines of a reform programme for the UK's monetary regime Paul Tucker; Index.

Summary

Central Bank independence has become a key part of how the world economy operates. We examine the independence of the Bank of England since 1997 and how independence has worked in practice to control inflation and stimulate economic growth.

Product details

• Authors: Sean (University of Cambridge) Mcmahon Holly
• Assisted by: Sean Holly (Editor), Holly Sean (Editor), Michael McMahon (Editor), McMahon Michael (Editor), Stephen Millard (Editor), Millard Stephen (Editor), Anna Watson (Editor), Watson Anna (Editor)
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 31.10.2024
• EAN: 9781009471879
• ISBN: 978-1-0-0947187-9
• No. of pages: 208
• Series: Macroeconomic Policy Making
• Subjects: Social sciences, law, business > Business > Economics; POLITICAL SCIENCE / General, Finance, BUSINESS & ECONOMICS / Economics / Macroeconomics, BUSINESS & ECONOMICS / Finance / General, macroeconomics, Politics & government, Politics and government, Finance and the finance industry