Reforming Britain's Economic and Financial Policy: Towards Greater Economic Stability

Cover......Page 1
Contents......Page 6
List of Tables......Page 7
List of Figures......Page 9
Foreword......Page 11
Introduction......Page 14
1 Lessons from Past Policy Experience......Page 17
2 Overview: Key Principles for Policy Making in an Open Economy......Page 40
3 The New Monetary Policy Framework......Page 57
4 The Benefits of Maintaining Low and Stable Inflation......Page 71
5 The Specification of the Inflation Target......Page 84
6 The UK Model of Central Bank Independence: An Assessment......Page 98
7 Reforms to Financial Regulation......Page 123
8 An Overview of the New Fiscal Policy Framework......Page 145
9 Understanding the Fiscal Rules......Page 168
10 Analysing UK Fiscal Policy......Page 195
11 The Public Finances and the Economic Cycle......Page 216
12 Planning and Controlling Public Spending......Page 243
13 Resource Accounting and Budgeting......Page 252
14 Assessing Long-Term Sustainability......Page 262
15 The Public Sector Balance Sheet......Page 276
16 Debt Management: Theory and Practice......Page 293
17 Reforming the International Financial Architecture......Page 312
18 The EU Macroeconomic Framework......Page 330
19 An Assessment of the New Macroeconomic Policy Framework......Page 345
Notes......Page 368
Glossary of Monetary and Fiscal Policy Terms......Page 374
Bibliography......Page 385
Index......Page 399