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The UK and the Eurozone: sovereign debt management and monetary policy

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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The UK and the Eurozone: sovereign debt management and monetary policy. / Steele, Gerald.
In: Economic Affairs, Vol. 33, No. 3, 10.2013, p. 327-333.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Steele, G 2013, 'The UK and the Eurozone: sovereign debt management and monetary policy', Economic Affairs, vol. 33, no. 3, pp. 327-333. https://doi.org/10.1111/ecaf.12035

APA

Steele, G. (2013). The UK and the Eurozone: sovereign debt management and monetary policy. Economic Affairs, 33(3), 327-333. https://doi.org/10.1111/ecaf.12035

Vancouver

Steele G. The UK and the Eurozone: sovereign debt management and monetary policy. Economic Affairs. 2013 Oct;33(3):327-333. doi: 10.1111/ecaf.12035

Author

Steele, Gerald. / The UK and the Eurozone : sovereign debt management and monetary policy. In: Economic Affairs. 2013 ; Vol. 33, No. 3. pp. 327-333.

Bibtex

@article{09708d5812794de9a0e53cab4e54dc8a,
title = "The UK and the Eurozone: sovereign debt management and monetary policy",
abstract = "Events in the wake of the {\textquoteleft}credit crunch{\textquoteright} can be understood only against institutional structures within which interdependent monetary and fiscal policy are administered. In the eurozone, the attempt to keep a central monetary authority (together with its associated national central banks) independent from seventeen diverse fiscal authorities was flawed. When sovereign debt approaches unmanageable levels, the Maastricht Treaty presents austerity as the single option. In the UK, the electorate has an opportunity to choose between monetary financing (inflation) and fiscal consolidation (austerity). Policy choices within the eurozone and the UK are set against Keynes{\textquoteright}s focus on unemployment and more recent concerns to retain (or restore) price and/or financial stability.",
keywords = "austerity, debt management , Eurozone , monetary policy , quantitative easing",
author = "Gerald Steele",
year = "2013",
month = oct,
doi = "10.1111/ecaf.12035",
language = "English",
volume = "33",
pages = "327--333",
journal = "Economic Affairs",
issn = "0265-0665",
publisher = "Wiley-Blackwell",
number = "3",

}

RIS

TY - JOUR

T1 - The UK and the Eurozone

T2 - sovereign debt management and monetary policy

AU - Steele, Gerald

PY - 2013/10

Y1 - 2013/10

N2 - Events in the wake of the ‘credit crunch’ can be understood only against institutional structures within which interdependent monetary and fiscal policy are administered. In the eurozone, the attempt to keep a central monetary authority (together with its associated national central banks) independent from seventeen diverse fiscal authorities was flawed. When sovereign debt approaches unmanageable levels, the Maastricht Treaty presents austerity as the single option. In the UK, the electorate has an opportunity to choose between monetary financing (inflation) and fiscal consolidation (austerity). Policy choices within the eurozone and the UK are set against Keynes’s focus on unemployment and more recent concerns to retain (or restore) price and/or financial stability.

AB - Events in the wake of the ‘credit crunch’ can be understood only against institutional structures within which interdependent monetary and fiscal policy are administered. In the eurozone, the attempt to keep a central monetary authority (together with its associated national central banks) independent from seventeen diverse fiscal authorities was flawed. When sovereign debt approaches unmanageable levels, the Maastricht Treaty presents austerity as the single option. In the UK, the electorate has an opportunity to choose between monetary financing (inflation) and fiscal consolidation (austerity). Policy choices within the eurozone and the UK are set against Keynes’s focus on unemployment and more recent concerns to retain (or restore) price and/or financial stability.

KW - austerity

KW - debt management

KW - Eurozone

KW - monetary policy

KW - quantitative easing

U2 - 10.1111/ecaf.12035

DO - 10.1111/ecaf.12035

M3 - Journal article

VL - 33

SP - 327

EP - 333

JO - Economic Affairs

JF - Economic Affairs

SN - 0265-0665

IS - 3

ER -