Cobham, David; Papadopoulos, Athanasios; Zis, George - In: International Finance 7 (2004) 3, pp. 471-493
Between 1994 and 1997, UK monetary policy decisions were taken by the Minister of Finance, but the advice of the central bank was published with a short delay. Thus, the financial markets could observe when the political authority took the same view as the monetary authority and when it did not,...