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Fiscal and Monetary Policy

  • P. J. Curwen
  • A. H. Fowler
Chapter

Abstract

The major objectives of economic policy in the United Kingdom are generally acknowledged to be full employment, a stable price level, equilibrium in the balance of payments, and a satisfactory rate of economic growth. In order to achieve these objectives a wide range of policy instruments needs to be employed either continuously or as circumstances demand. Policy instruments are grouped together for convenience according to the way in which they work, and prominent amongst these groups are fiscal and monetary policy. Indeed it can reasonably be said that fiscal and monetary policy have been the policy instruments of choice in the United Kingdom since 1945 for controlling the level of economic activity, although prices-and-incomes policy, which we will discuss in the following chapter, has at times achieved greater prominence.

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Copyright information

© P. J. Curwen and A. H. Fowler 1976

Authors and Affiliations

  • P. J. Curwen
    • 1
  • A. H. Fowler
    • 1
  1. 1.Sheffield PolytechnicUK

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