chapter  7
17 Pages

Monetary policy

This chapter embarks on a series of proposals for reform of the 1990s synthesis, in light of the weaknesses and threats discussed previously. The focus will mainly be on policy at the national level in developed economies, but it will broaden to consider the international dimension where appropriate. The subject is inevitably a large and complex one, in which the devil tends to be in the detail. Since the relevant institutions and procedures differ somewhat between countries, there will inevitably be some tension between precision and generality. The discussion will address the UK regime first and then consider parallels elsewhere, and international cooperation where relevant.