Changes in UK monetary policy: Rules and discretion in practice

Journal of Monetary Economics

Volumn 39, Issue 1, 1997, Pages 81-97

  King, Mervyn ^a  

^a BANK OF ENGLAND   (United Kingdom)

Author keywords

Inflation; Inflation target; bank of england; Monetary policy

Indexed keywords

EID: 0031161375     PISSN: 03043932     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0304-3932(97)00009-3     Document Type: Article

References (13)

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3. King, M.A., 1996a. How should central banks reduce inflation? - conceptual issues. Federal Reserve Bank of Kansas City (1996). (Reprinted in the Bank of England Quarterly Bulletin 36, No. 4, Nov. 1996).
4. King, M.A., 1996b. Monetary stability: rhyme or reason? Seventh ESRC Annual Lecture. Economic and Social Research Council, London (reprinted in the Bank of England Quarterly Bulletin 37, No 1, February 1997).
5. Kydland, F., Prescott, E., 1977. Rules rather than discretion: the inconsistency of optimal plans. Journal of Political Economy 85, 473-492.
6. McCallum, B.T., 1995. Two fallacies concerning central bank independence. American Economic Review Papers and Proceedings 85, 207-211.
7. McCallum, B.T., 1996. Crucial issues concerning central bank independence. National Bureau of Economic Research Working Paper 5597, Mimeo.
8. Persson, T., Tabellini, G., 1993. Designing institutions for monetary stability. Carnegie-Rochester Conference Series on Public Policy 39, 53-84.
9. Rogoff, K., 1985. The optimal degree of commitment to an intermediate target. Quarterly Journal of Economics 100, 1169-1189.
10. Simons, H.C., 1936. Rules versus authorities in monetary policy. Journal of Political Economy 44, 1-30.
11. Svensson, L.E.O., 1995. Optimal inflation targets, 'conservative' central banks and linear inflation contracts. Mimeo, Institute for International Economics, University of Stockholm.
12. Svensson, L.E.O., 1996. Inflation forecast targeting: implementing and monitoring inflation targets. National Bureau of Economic Research Working Paper 5797, Mimeo.
13. Walsh, C., 1995. Optimal contracts for central bankers. American Economic Review 85, 150-167.