Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/281088 
Authors: 
Year of Publication: 
2024
Series/Report no.: 
Accountancy, Economics, and Finance Working Papers No. 2024-02
Publisher: 
Heriot-Watt University, Department of Accountancy, Economics, and Finance, Edinburgh
Abstract: 
This short paper use the perspective of the assignment problem to examine the evolution of the workings of monetary policy and the Monetary Policy Committee (MPC) of the Bank of England over its first 25 years. It outlines how the Bank, and the MPC, came across additional possible objectives and searched for additional possible instruments. It then argues the need for some recasting of the role of the MPC and the way in which it operates.
Subjects: 
assignment problem
monetary policy
inflation targeting
inflation
economic growth
JEL: 
E42
E52
E58
F33
Document Type: 
Working Paper

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