Abstract
There is some tendency for commentators to claim that global integration of the world’s main financial markets has significantly undermined the ability of the authorities in any one country — always excepting the USA — to maintain sovereign control over its own domestic monetary policy. This argument can be much exaggerated; marginal changes in the limits to the authorities’ ability to determine their own domestic monetary policies are a matter of degree rather than a sea change.
1. Remarks at a seminar of the Action Centre for Europe, 2 March 1995.
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Notes
Barry Eichengreen, ‘Designing a Central Bank for Europe: A Cautionary Tale from the Early Years of the Federal Reserve System’, in Canzoneri, Grilli and Masson, eds, Establishing a Central Bank in Europe and Lessons from the US (Cambridge: Cambridge University Press. 1992).
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© 1996 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Goodhart, C. (1996). Would it Matter if the British Chancellor of the Exchequer No Longer Controlled Monetary Policy?. In: Taylor, C. (eds) European Monetary Union: The Kingsdown Enquiry. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-24825-4_30
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DOI: https://doi.org/10.1007/978-1-349-24825-4_30
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