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Monetary policy in the UK

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Author Info
Mervyn King
Abstract

I was delighted to be asked to give the IFS Annual Lecture for 1994, not least because of my own connections with the Institute. These began with my participation in the meetings of IFS, and continued as a member of the Meade Committee in the 1970s. The work of that Committee — led by James Meade and Donald Ironside — proved to be one of the formative experiences of my professional career and led to my collaboration with John Kay on our book, The British Tax System. The Meade Committee Report represented a turning-point in the history of IFS, and since then it has gone from strength to strength under the successive leadership of Dick Taverne, John Kay, Bill Robinson and, now, Andrew Dilnot. I would like to take this opportunity to welcome the recent initiative to set up a Tax Law Review Committee. I know that IFS is seeking 50 sponsors to underwrite this venture, and I am happy to announce this evening that the Bank will be one of those 50.

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Publisher Info
Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

Volume (Year): 15 (1994)
Issue (Month): 3 (August)
Pages: 109-28
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ifs:fistud:v:15:y:1994:i:3:p:109-28

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References listed on IDEAS
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  1. Laurence Ball, 1993. "What determines the sacrifice ratio?," Working Papers 93-21, Federal Reserve Bank of Philadelphia.
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  2. Leeson, Robert, 1994. "A. W. H. Phillips M.B.E. (Military Division)," Economic Journal, Royal Economic Society, vol. 104(424), pages 605-18, May. [Downloadable!] (restricted)
  3. Stanley Fischer, 1993. "The Role of Macroeconomic Factors in Growth," NBER Working Papers 4565, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Hall, R.E. & Mankiw, N.G., 1993. "Nominal Income Targeting," Harvard Institute of Economic Research Working Papers 1650, Harvard - Institute of Economic Research.
    Other versions:
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  1. Lars E.O. Svensson, 1998. "Inflation Targeting as a Monetary Policy Rule," NBER Working Papers 6790, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Svensson, Lars E. O., 1999. "Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability," Working Paper Series 91, Sveriges Riksbank (Central Bank of Sweden). [Downloadable!]
    Other versions:
  3. Katerina Smidkova, 2003. "Inflation targeting in the UK: Lessons for the Czech Republic," Macroeconomics 0304006, EconWPA. [Downloadable!]
  4. Lars E. O. Svensson, 2003. "What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules," NBER Working Papers 9421, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Tim Hampton & Dominick Stephens & Renee Philip, 2003. "Monetary policy communication and uncertainty," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 66, June. [Downloadable!]
  6. Malcolm Gammie, 1994. "Legislation for business: is it fit for public consumption?," Fiscal Studies, Institute for Fiscal Studies, vol. 15(3), pages 129-39, August. [Downloadable!]
  7. Andrew G Haldane & Vicky Read, . "Monetary policy surprises and the yield curve," Bank of England working papers 106, Bank of England. [Downloadable!]
  8. Heinz Handler, 2004. "From Hard Currency Policy to Monetary Union," Macroeconomics 0408008, EconWPA. [Downloadable!]
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  9. Lars E. O. Svensson, 2003. "Monetary Policy and Real Stabilization," NBER Working Papers 9486, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Lars E. O. Svensson & Michael Woodford, 2003. "Implementing Optimal Policy through Inflation-Forecast Targeting," NBER Working Papers 9747, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  11. Berg, Claes & Jonung, Lars, 1998. "Pioneering Price Level Targeting: The Swedish Experience 1931-1937," Seminar Papers 642, Stockholm University, Institute for International Economic Studies. [Downloadable!]
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  12. Lars E. O. Svensson, 2000. "Open-Economy Inflation Targeting," NBER Working Papers 6545, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  13. Svensson, Lars E O, 2009. "Transparency under Flexible Inflation Targeting: Experiences and Challenges," CEPR Discussion Papers 7213, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  14. Svensson, Lars E O, 2002. "The Inflation Forecast and the Loss Function," CEPR Discussion Papers 3365, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  15. Andrew G Haldane, 1997. "Designing Inflation Targets," RBA Annual Conference Volume, in: Philip Lowe (ed.), Monetary Policy and Inflation Targeting Reserve Bank of Australia. [Downloadable!]
  16. Glenn D. Rudebusch & Lars E. O. Svensson, 1998. "Policy Rules for Inflation Targeting," NBER Working Papers 6512, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  17. Chan Huh, 1996. "Some evidence on the efficacy of the UK inflation targeting regime: an out-of-sample forecast approach," International Finance Discussion Papers 565, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  18. Ricardo J. Caballero & Arvind Krishnamurthy, 2004. "Inflation Targeting and Sudden Stops," NBER Chapters, in: The Inflation-Targeting Debate, pages 423-446 National Bureau of Economic Research, Inc. [Downloadable!]
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