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Government debt management and monetary policy in Britain since 1919

In: Threat of fiscal dominance?

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  • William A Allen

    (Cass Business School)

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  • William A Allen, 2012. "Government debt management and monetary policy in Britain since 1919," BIS Papers chapters, in: Bank for International Settlements (ed.), Threat of fiscal dominance?, volume 65, pages 15-50, Bank for International Settlements.
    • Handle: RePEc:bis:bisbpc:65-02
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    File URL: http://www.bis.org/publ/bppdf/bispap65b_rh.pdf
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    References listed on IDEAS

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    1. William A. Allen & Richhild Moessner, 2011. "The international propagation of the financial crisis of 2008 and a comparison with 1931," BIS Working Papers 348, Bank for International Settlements.
    2. Paul Temperton, 1986. "A Guide to UK Monetary Policy," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-07996-4.
    3. William A Allen, 1981. "Intermediation and pure liquidity creation in banking systems," BIS Working Papers 5, Bank for International Settlements.
    4. Agell, J. & Persson, M., 1989. "Does Debt Management Matter?," Papers 442, Stockholm - International Economic Studies.
    5. Capie,Forrest, 2010. "The Bank of England," Cambridge Books, Cambridge University Press, number 9780521192828.
    6. Benjamin, Daniel K & Kochin, Levis A, 1979. "Searching for an Explanation of Unemployment in Interwar Britain," Journal of Political Economy, University of Chicago Press, vol. 87(3), pages 441-478, June.
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    Citations

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    Cited by:

    1. Jagjit S. Chadha & Philip Turner & Fabrizio Zampolli, 2013. "The ties that bind: monetary policy and government debt management," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(3), pages 548-581, AUTUMN.
    2. Joerg Bibow, 2018. "Unconventional Monetary Policies and Central Bank Profits: Seigniorage as Fiscal Revenue in the Aftermath of the Global Financial Crisis," Economics Working Paper Archive wp_916, Levy Economics Institute.
    3. christiaan Pattipeilohy, 2016. "A comparative analysis of developments in central bank balance sheet composition," BIS Working Papers 559, Bank for International Settlements.
    4. Philip Turner, 2013. "Benign neglect of the long-term interest rate," BIS Working Papers 403, Bank for International Settlements.
    5. Richhild Moessner & Philip Turner, 2012. "Threat of fiscal dominance? Workshop summary," BIS Papers chapters, in: Bank for International Settlements (ed.), Threat of fiscal dominance?, volume 65, pages 1-12, Bank for International Settlements.
    6. Nick O'Donovan, 2021. "One‐off wealth taxes: theory and evidence," Fiscal Studies, John Wiley & Sons, vol. 42(3-4), pages 565-597, September.
    7. Christopher Bowdler & Amar Radia, 2012. "Unconventional monetary policy: the assessment," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 28(4), pages 603-621, WINTER.
    8. Jörg Bibow, 2018. "Unconventional monetary policies and central bank profits," IMK Studies 62-2018, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    9. Ellison, Martin & Scott, Andrew, 2017. "Managing the UK National Debt 1694-2017," CEPR Discussion Papers 12304, C.E.P.R. Discussion Papers.
    10. Hans J Blommestein & Philip Turner, 2012. "Interactions between sovereign debt management and monetary policy under fiscal dominance and financial instability," BIS Papers chapters, in: Bank for International Settlements (ed.), Threat of fiscal dominance?, volume 65, pages 213-237, Bank for International Settlements.
    11. Gerald Steele, 2014. "The credit counterparts of broad money," Working Papers 64401562, Lancaster University Management School, Economics Department.
    12. Teupe, Sebastian, 2020. "Keynes, Inflation, and the Public Debt: "How to Pay for the War" as a Policy Prescription for Financial Repression?," Working Papers 16, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    13. Fabrizio Zampolli, 2012. "Sovereign debt management as an instrument of monetary policy: an overview," BIS Papers chapters, in: Bank for International Settlements (ed.), Threat of fiscal dominance?, volume 65, pages 97-118, Bank for International Settlements.
    14. Goodhart, Charles A. E. & Needham, Duncan J., 2017. "Historical reasons for the focus on broad monetary aggregates in post-World War II Britain and the ‘Seven Years War’ with the IMF," Financial History Review, Cambridge University Press, vol. 24(3), pages 331-356, December.
    15. Mr. S. M. Ali Abbas & Laura Blattner & Mark De Broeck & Ms. Asmaa A ElGanainy & Malin Hu, 2014. "Sovereign Debt Composition in Advanced Economies: A Historical Perspective," IMF Working Papers 2014/162, International Monetary Fund.
    16. M S Mohanty, 2012. "Fiscal policy, public debt and monetary policy in EMEs: anoverview," BIS Papers chapters, in: Bank for International Settlements (ed.), Fiscal policy, public debt and monetary policy in emerging market economies, volume 67, pages 1-9, Bank for International Settlements.
    17. Allen, Bill & Chan, Ka Kei & Milne, Alistair & Thomas, Steve, 2012. "Basel III: Is the cure worse than the disease?," International Review of Financial Analysis, Elsevier, vol. 25(C), pages 159-166.
    18. Christopher Spencer, 2014. "Conventional and Unconventional Votes: A Tale of Three Monetary Policy Committees," Discussion Paper Series 2014_11, Department of Economics, Loughborough University, revised Dec 2014.
    19. Goodhart, Charles A. E. & Needham, Duncan J., 2018. "Historical reasons for the focus on broad monetary aggregates in post-World War II Britain and the ‘Seven Years War’ with the IMF," LSE Research Online Documents on Economics 87364, London School of Economics and Political Science, LSE Library.
    20. Zbigniew Polański & Mikołaj Szadkowski, 2021. "An accounting-based model of seigniorage, and recent monetary developments," Bank i Kredyt, Narodowy Bank Polski, vol. 52(5), pages 391-436.
    21. G. R. Steele, 2013. "The UK and the Eurozone: Sovereign Debt Management and Monetary Policy," Economic Affairs, Wiley Blackwell, vol. 33(3), pages 327-333, October.

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