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SUMMARY:Why did Britain have broad money supply targets? - Dr Duncan Needh
 am\, Centre for Financial History
DTSTART:20170227T170000Z
DTEND:20170227T183000Z
UID:TALK67264@talks.cam.ac.uk
CONTACT:Dr Duncan Needham
DESCRIPTION:The British monetary authorities have traditionally focused on
  broader measures of the money supply than their counterparts elsewhere. T
 he reasons include: the willingness of UK banks to allow customers to make
  payments by drawing on time deposits\, the particularities of the UK appr
 oach to managing the national debt and the foreign exchange reserves\, and
  the flow-of-funds system of national accounts developed after World War I
 I.  This paper outlines these reasons\, and explores the implications for 
 the UK’s often-fractious relationship with the International Monetary Fu
 nd from the 1950s to the 1970s.  It explains why IMF conditionality on loa
 ns to the UK focused on broad aggregates.
LOCATION:Darwin College (Seminar Room\, No. 1 Newnham Terrace - entrance v
 ia Porters Lodge on Silver St)
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