The Bank of England and the Government Debt : Operations in the Gilt-Edged Market, 1928-1972 Paperback / softback
by William A. Allen
Part of the Studies in Macroeconomic History series
Paperback / softback
Description
The Bank of England and the Government Debt recounts the surprising history of the Bank of England's activities in the government securities market in the mid-twentieth century.
The Bank's governor, Montagu Norman, had a decisive influence on government debt management policy until he retired in 1944, and established an auxiliary market in government securities outside the Stock Exchange during the Second World War.
From the early 1950s, the Bank, concerned about inadequate market liquidity, became an increasingly active market-maker in government securities, rescuing the commercial market-makers in the Stock Exchange several times.
The Bank's market-making activities often conflicted with its monetary policy objectives, and in 1971, it curtailed them substantially, while avoiding the damaging effects on liquidity in the government securities market that it had feared.
Drawing heavily on archival research, William A. Allen sheds light on little-known aspects of central banking and monetary policy.
Information
-
Out of stock
- Format:Paperback / softback
- Pages:276 pages, Worked examples or Exercises; 27 Tables, black and white; 23 Line drawings, black and whi
- Publisher:Cambridge University Press
- Publication Date:03/10/2019
- Category:
- ISBN:9781108469524
Other Formats
- EPUB from £28.04
- Hardback from £71.00
Information
-
Out of stock
- Format:Paperback / softback
- Pages:276 pages, Worked examples or Exercises; 27 Tables, black and white; 23 Line drawings, black and whi
- Publisher:Cambridge University Press
- Publication Date:03/10/2019
- Category:
- ISBN:9781108469524
