It is common wisdom that central banks in the postwar (1945-1970s) period were passive bureaucracies constrained by fixed-exchange rates and inflationist fiscal policies. This view is mostly retrospective and informed by US and UK experiences. This book tells a different story. Eric Monnet shows...

French credit policies before 1945 -- The nationalization of credit from 1945 to the late 1950s -- Development then gradual de-institutionalization : the 1960s and 1970s -- Monetary policy without interest rates : domestic macroeconomic effects and international issues of credit controls --...