The UK escaped a liquidity trap in the 1930s and enjoyed a strong economic recovery. This column argues that what drove this recovery was ‘unconventional’ monetary policy implemented not by the Bank of England but by the Treasury. Thus, Neville Chamberlain was an early proponent of ‘Abenomics’. This raises the question: is inflation targeting by an independent central bank appropriate at a time of very low nominal-interest rates?
Most Read
-
Terzi
-
Krugman
-
Goldstein, Levy Yeyati, Sartorio
-
Aghion, Artus, Oliu-Barton, Pradelski
-
Inoue, Murase, Todo
-
Eichengreen, O'Rourke
-
Burgess, Sievertsen
-
Mitze, Kosfeld, Rode, Wälde
-
Heldring, Robinson
-
Eichengreen
Blogs&Reviews
-
Hebous
-
Gylfason
-
Beetsma, Schuknecht
-
Bouwens
-
Gaspar, Larraín Bascuñán
Vox eBooks
Don't Miss
Arezki, Djankov, Panizza
Bartsch, Bénassy-Quéré, Corsetti, Debrun
Scheuer
Events
-
20 - 21 April 2021 / Online / The Research Group of the Basel Committee, jointly with Deutsche Bundesbank and CEPR
-
20 - 20 April 2021 / Webinar /
-
20 - 20 April 2021 / Online / German Development Institute, the Centre for Economic Performance at the London School of Economics (CEP-LSE), and the Centre for Economic Policy Research (CEPR)
-
21 - 21 April 2021 / Online /
-
21 - 23 April 2021 / Online /
CEPR Policy Research
-
Gobillon, Solignac
-
Giglio, Maggiori, Stroebel, Weber
-
Summers, Fatás
-
Favero, Galasso
-
Butt, Churm, McMahon, Morotz, Schanz
-
Eichengreen, Avgouleas, Poiares Maduro, Panizza, Portes, Weder di Mauro, Wyplosz, Zettelmeyer
-
Baldwin, Beck, Bénassy-Quéré, Blanchard, Corsetti, De Grauwe, den Haan, Giavazzi, Gros, Kalemli-Ozcan, Micossi, Papaioannou, Pesenti, Pissarides , Tabellini, Weder di Mauro
-
Baldwin, Nakatomi
-
Thimann
-
Goodhart, Perotti