货币和财政政策减少了微型预算

IF 16.4 1区 化学 Q1 CHEMISTRY, MULTIDISCIPLINARY
J. Chadha
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引用次数: 0

摘要

不久前,我认为有可能将英国的现代货币和财政政策描述为三个关键事件的函数:1992年9月退出欧洲汇率机制,1997年5月“新工党”当选,以及2007-2009年的全球金融危机。第一个是1992年10月通过了国内通胀目标,第二个是英格兰银行的业务独立性和货币政策委员会的成立,第三个是接受了宏观审慎政策的必要性,特别货币干预,以加强简单的利率规则和财政委员会的正式预算监督。后者由2010年成立的预算责任办公室提供。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
MONETARY AND FISCAL POLICY REDUX—THE MINI-BUDGET
Not so very long ago, I argued that it was possible to characterise modern monetary and fiscal policy in the UK as a function of three key events: exit from the European Exchange Rate Mechanism in September 1992, the election of ‘New Labour’ in May 1997 and the global financial crisis of 2007–2009. The first led to the adoption of a domestic inflation target in October 1992, the second to the operational independence of the Bank of England and the establishment of the Monetary Policy Committee and the third to the acceptance of the need for macro-prudential policies, extraordinary monetary interventions to augment a simple interest rate rule and formal budgetary oversight by a fiscal council. The latter was provided by the Office for Budget Responsibility, which was established in 2010.
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来源期刊
Accounts of Chemical Research
Accounts of Chemical Research 化学-化学综合
CiteScore
31.40
自引率
1.10%
发文量
312
审稿时长
2 months
期刊介绍: Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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