Paradoksy antyinflacyjnej polityki pieniężno-kredytowej banku angielskiego w latach 1988-1993
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Wydział Prawa i Administracji UAM
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Paradoxes of anti-inflation money and credit policy of the Bank of England in 1988 - 1993
Abstract
The paper characterizes the money and credit policy of the Bank of England in 1988-1993.
The research was referred to original numerical data. The Bank has realized its policy in conformity
with principles of closed loop policy despite of the fact that the imposed assumptions of its
money and credit policy were based on the k per cent rule. Monitoring the volume of money resources
and the inflation rate during this period denies any simple relations between these two factors.
Within the period examined the index of money resources increased systematically up to 151,2 per
cent. The inflation rate has increased from 4,9 to 9,5 in 1988 - 1991 and then dropped quickly to
the level of 1,6 in 1993. The aim of the paper was to explain such a paradox. It appeared that open
market operations of the type outright which were applied effected in the same way as it is for
production credit.
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Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/2016
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Ruch Prawniczy, Ekonomiczny i Socjologiczny, 59, 1997, z. 1, s. 85-99.