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Over the last thirty years or so the developments in the area of monetary and macroeconomic policies have been quite substantial. Within the new consensus macroeconomics (NCM), monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of...
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Forrest Capie is Professor of Economic History at Cass Business School, City University, London, where he was Head of the Department of Banking and Finance. After receiving a Ph.D. at the London School of Economics, he taught at the universities of Warwick and Leeds. Professor Capie has also...
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