UK monetary policy, 1972-97: A guide using Taylor rules

Central Banking, Monetary Theory and Practice: Essays in Honour of Charles Goodhart

Volumn 1, Issue , 2003, Pages 195-216

  Nelson, Edward ^a  

^a BANK OF ENGLAND   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 4944251915     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.4337/9781781950777.00020     Document Type: Chapter

References (41)

1. Adam, Christopher,David Cobham, and Eric Girardin (2001), 'External influences and institutional constraints on UK monetary policy, 1985-2000', manuscript, University of St Andrews.
2. Bank of England (1976), 'Economic commentary', Bank of England Quarterly Bulletin, 16(3), 287-99.
3. Bank of England (1982), 'The supplementary special deposits scheme', Bank of England Quarterly Bulletin, 22(1), 74-85.
4. Barro, Robert J. (1977), 'Unanticipated money growth and unemployment in the United States', American Economic Review, 67(2), 101-15.
5. Broadbent, Ben (1996), 'Taylor rules and optimal rules', mlmanuscript, UK Treasury.
6. Campbell, John (1993), 'U-turn: inflation', Chapter 26 of Edward Heath: A Biography, London: Jonathan Cape, pp. 468-83.
7. Chevapatrakul, Thanaset, Paul Mizen, and Tae-Hwan Kim (2001), 'Monetary policy: the predictive performance of Taylor rules versus alternatives for the United Kingdom, 1992-2001', manuscript, Nottingham University.
8. Clarida, Richard, Jordi Galí, and Mark Gertler (1998), 'Monetary policy rules in practice: some international evidence', European Economic Review, 42(6), 1033-67.
9. Clarida, Richard, Jordi Galí, and Mark Gertler (2000), 'Monetary policy rules and macroeconomic stability: evidence and some theory', Quarterly Journal of Economics, 115(1), 147-80.
10. Congdon, Tim (1992), Reflections on Monetarism: Britain's Vain Search for a Successful Economic Strategy, Cheltenham: Edward Elgar.
11. Goodhart, Charles A.E. (1987), 'Monetary policy: comment', in Rudiger Dornbusch and Richard Layard (eds), The Performance of the British Economy, New York: Oxford University Press, pp. 253-55.
12. Goodhart, Charles A.E. (1989), 'The conduct of monetary policy', Economic Journal, 99(396), 293-346.
13. Goodhart, Charles A.E. (1992), 'The objectives for, and conduct of, monetary policy in the 1990s', in Adrian Blundell-Wignall (ed.), Inflation, Disinflation and Monetary Policy, Sydney: Ambassador Press, pp. 315-34.
14. Goodhart, Charles A.E. (1997), 'Whither now?', Banca Nazionale del Lavoro Quarterly Review, 50(203), 385-430 reprinted in this volume with an extension as 'A central bank economist'.
15. Goodhart, Charles A.E., and R. J. Bhansali (1970), 'Political economy', Political Studies, 18(1), 43-106.
16. Governor of the Bank of England (2001), 'International and domestic uncertainties', Bank of England Quarterly Bulletin, 41(1), 125-8.
17. Heath, Edward (1998), The Course of My Life: An Autobiography, London: Hodder and Stoughton.
18. Henderson, Dale, and Warwick J. McKibbin (1993), 'A comparison of some basic monetary policy regimes for open economies: implications of different degrees of instrument adjustment and wage persistence', Carnegie-Rochester Series on Public Policy, 39(1), 221-318.
19. Ireland, Peter N. (2001), 'Endogenous money or sticky prices?', manuscript, Boston College.
20. Johnson, Harry G. (1972), 'The monetary approach to balance-of-payments theory', in Harry G. Johnson, Further Essays in Monetary Economics, London: George Allen and Unwin, pp. 229-49.
21. Judd, John P., and Glenn D. Rudebusch (1998), 'Taylor's rule and the Fed: 1970-1997', Federal Reserve Bank of San Francisco Economic Review, 74(3), 3-16.
22. Kaldor, Nicholas (1982), The Scourge of Monetarism, Oxford: Oxford University Press.
23. Lawson, Nigel (1992), The View from No. 11, London: Bantam.
24. Martin, Christopher, and Costas Milas (2001), 'Modelling monetary policy: inflation targeting in practice', manuscript, Brunel University.
25. McCallum, Bennett T. (1981), 'Price level determinacy with an interest rate policy rule and rational expectations', Journal of Monetary Economics, 8(3), 319-29.
26. Minford, Patrick (1993), 'Monetary policy in the other G-7 countries: the United Kingdom', in Michele U. Fratianni and Dominick Salvatore (eds), Monetary Policy in Developed Economies (Handbook of Comparative Economic Policies, vol. 3), Westport, US: Greenwood Press, pp. 405-31.
27. Monetary Policy Committee (1999), 'The transmission mechanism of monetary policy', Bank of England Quarterly Bulletin, 39(2), 161-70.
28. Muscatelli, V. Anton, Patrizio Tirelli, and Carmine Trecroci (2002), 'Does institutional change really matter? Inflation targets, central bank reform and interest rate policy in the OECD countries', Manchester School, 70(4), 487-527.
29. Nelson, Edward (2000), 'UK monetary policy 1972-1997: a guide using Taylor rules', Bank of England Working Paper 120.
30. Nelson, Edward, and Kalin Nikolov (2001), 'UK inflation in the 1970s and 1980s: the role of output gap mismeasurement', CEPR Discussion Paper 2999.
31. Nelson, Edward, and Kalin Nikolov (2002), 'Monetary policy and stagflation in the UK', CEPR Discussion Paper No. 3458.
32. Orphanides, Athanasios (2002), 'The quest for prosperity without inflation', Journal of Monetary Economics, forthcoming.
33. Peersman, Gert, and Frank Smets (1999), 'The Taylor rule: a useful monetary policy benchmark for the euro area?', International Finance, 2(1), 85-116.
34. Poole,William (1970), 'Optimal choice of monetary policy instruments in a simple stochastic macro model', Quarterly Journal of Economics, 84(2), 197-216.
35. Smets, Frank, and Raf Wouters (2002), 'An estimated stochastic dynamic general equilibrium model of the euro area', ECB Working Paper No. 171.
36. Stuart, Alison (1996), 'Simple monetary policy rules', Bank of England Quarterly Bulletin, 36(3), 281-7.
37. Svensson, Lars E.O. (2001). 'What is wrong with Taylor rules? Using judgment in monetary policy through targeting rules', manuscript, Princeton University.
38. Taylor, John B. (1993), 'Discretion versus policy rules in practice', Carnegie-Rochester Conference Series on Public Policy, 39(1), 195-214.
39. Taylor, John B. (1999a) (ed.), Monetary Policy Rules, Chicago: University of Chicago Press.
40. Taylor, John B. (1999b), 'The robustness and efficiency of monetary policy rules as guidelines for interest rate setting by the European Central Bank', Journal of Monetary Economics, 43(3), 655-79.
41. Woodford, Michael (2001), 'The Taylor rule and optimal monetary policy', American Economic Review (Papers and Proceedings), 91(1), 232-37.