A Tract on Monetary Reform is a book by John Maynard Keynes, published in 1923. Keynes presented an argument in favour of a policy that would try to stabilize the domestic price level. He argued that the Bank of England had the policy tools available to provide a semblance of price stability through its stance on interest rates and its capacity to manage the reserves of the banking sector. Keynes believed that domestic price stability was accompanied by exchange rate flexibility. After years of experience, he did not favour floating exchange rates and proposed what is today called a crawling peg.[1]
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John Maynard Keynes in One Minute: From Biography to Economic Theory
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POLITICAL THEORY - John Maynard Keynes
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[Oh could I raise the darken'd veil] - Nathaniel Hawthorne
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References
- ^ Moggridge, D. E. (1992). Maynard Keynes : an economist's biography. London: Routledge. p. 415. ISBN 0-415-12711-4.
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This page was last edited on 17 February 2024, at 21:16