This paper estimates a simple structural model of monetary policy in the UK focusing on the policy of inflation targeting introduced in 1992. We find that: (i) the adoption of inflation targeting led to significant changes in monetary policy; (ii) post-1992 monetary policy is asymmetric as...

The book investigates two important subjects simultaneously. On the one hand, it is concerned with the detailed processes which have lead to quite different innovation diffusion pathways of combined heat and power technology in the UK and Germany since the early Eighties. On the other hand, this...