The 1978 annual report of the bank for international settlements: The economics of international fine tuning
Pengarang:
Grauwe, Paul de -
Deskripsi
It has become a rule for every international organization to present its views on the world economic problems of the day with yearly regularity. The Bank for International Settlements is no exception to this rule. in its latest Annual Report’ the BSS offers us a diagnosis of the present world economic problems, and presents us a cure for these problems.
In this article the BIS diagnosis and its policy conClusions are critically evaluated. In section 2 the diagnosis as set out in the Annual Report of the BIS is briefly summarized and the major issue is spelled out. In sections 3 to 5 this issue, i.e.. the desirability of international fine tuning, is analyzed using a simplified two-country model. Finally in section 6 other issues raised in the BIS Annual Report (in particular the choice of interest versus money supply rules) are touched upon. Printed Journal.
In this article the BIS diagnosis and its policy conClusions are critically evaluated. In section 2 the diagnosis as set out in the Annual Report of the BIS is briefly summarized and the major issue is spelled out. In sections 3 to 5 this issue, i.e.. the desirability of international fine tuning, is analyzed using a simplified two-country model. Finally in section 6 other issues raised in the BIS Annual Report (in particular the choice of interest versus money supply rules) are touched upon. Printed Journal.