The consequences of the 2008 crisis on Britain’s Inflation Targeting Framework
This article demonstrates the extent and limits of the consequences that the 2008 financial crisis and the subsequent economic recession had on Britain’s monetary policy framework. It shows that, beyond the activation of unconventional practices, the crisis caused a reform that was not a complete ov...
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| Format: | Article |
| Language: | English |
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Centre de Recherche et d'Etudes en Civilisation Britannique
2016-10-01
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| Series: | Revue Française de Civilisation Britannique |
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| Online Access: | https://journals.openedition.org/rfcb/1121 |
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| _version_ | 1846131786879336448 |
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| author | Nathalie Champroux |
| author_facet | Nathalie Champroux |
| author_sort | Nathalie Champroux |
| collection | DOAJ |
| description | This article demonstrates the extent and limits of the consequences that the 2008 financial crisis and the subsequent economic recession had on Britain’s monetary policy framework. It shows that, beyond the activation of unconventional practices, the crisis caused a reform that was not a complete overhaul of the framework. The bases of the framework dedicated to inflation targeting have been maintained. The value of the reform nonetheless resides in the clarification of the principles of the flexibility of the system and in a move towards a better coordination between monetary and financial policies. The reform is thus embedded in the global progress of monetary theories. |
| format | Article |
| id | doaj-art-cf12c173883f4666aa1ac66327dd61f2 |
| institution | Kabale University |
| issn | 0248-9015 2429-4373 |
| language | English |
| publishDate | 2016-10-01 |
| publisher | Centre de Recherche et d'Etudes en Civilisation Britannique |
| record_format | Article |
| series | Revue Française de Civilisation Britannique |
| spelling | doaj-art-cf12c173883f4666aa1ac66327dd61f22024-12-09T15:27:37ZengCentre de Recherche et d'Etudes en Civilisation BritanniqueRevue Française de Civilisation Britannique0248-90152429-43732016-10-0121210.4000/rfcb.1121The consequences of the 2008 crisis on Britain’s Inflation Targeting FrameworkNathalie ChamprouxThis article demonstrates the extent and limits of the consequences that the 2008 financial crisis and the subsequent economic recession had on Britain’s monetary policy framework. It shows that, beyond the activation of unconventional practices, the crisis caused a reform that was not a complete overhaul of the framework. The bases of the framework dedicated to inflation targeting have been maintained. The value of the reform nonetheless resides in the clarification of the principles of the flexibility of the system and in a move towards a better coordination between monetary and financial policies. The reform is thus embedded in the global progress of monetary theories.https://journals.openedition.org/rfcb/1121monetary policy frameworkinflation targetinginterest rates |
| spellingShingle | Nathalie Champroux The consequences of the 2008 crisis on Britain’s Inflation Targeting Framework Revue Française de Civilisation Britannique monetary policy framework inflation targeting interest rates |
| title | The consequences of the 2008 crisis on Britain’s Inflation Targeting Framework |
| title_full | The consequences of the 2008 crisis on Britain’s Inflation Targeting Framework |
| title_fullStr | The consequences of the 2008 crisis on Britain’s Inflation Targeting Framework |
| title_full_unstemmed | The consequences of the 2008 crisis on Britain’s Inflation Targeting Framework |
| title_short | The consequences of the 2008 crisis on Britain’s Inflation Targeting Framework |
| title_sort | consequences of the 2008 crisis on britain s inflation targeting framework |
| topic | monetary policy framework inflation targeting interest rates |
| url | https://journals.openedition.org/rfcb/1121 |
| work_keys_str_mv | AT nathaliechamproux theconsequencesofthe2008crisisonbritainsinflationtargetingframework AT nathaliechamproux consequencesofthe2008crisisonbritainsinflationtargetingframework |