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The UK Model of Central Bank Independence: An Assessment

In: Reforming Britain’s Economic and Financial Policy

Author

Listed:
  • Ed Balls
  • Gus O’Donnell

Abstract

This chapter examines the UK model of central bank independence and its roots in the analysis of past economic policy failures, as well as recent theoretical developments. It draws heavily on a lecture given by Ed Balls, chief Economic Adviser to the Treasury, to the Oxford University Business School Alumni Association in June 2001 (Balls 2001) and a forthcoming paper co-authored by Gus O’Donnell, the Treasury’s representative on the Bank of England’s Monetary Policy Committee, and Ashok Bhundia.

Suggested Citation

  • Ed Balls & Gus O’Donnell, 2002. "The UK Model of Central Bank Independence: An Assessment," Palgrave Macmillan Books, in: Ed Balls & Gus O’Donnell (ed.), Reforming Britain’s Economic and Financial Policy, chapter 6, pages 85-109, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-59983-3_7
    DOI: 10.1057/9780230599833_7
    as

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