The argument of this monograph is that, contrary to prevailing opinion, high interest rates are not a fact of economic life. The authors argue that this is a conventional assumption rooted in the expectations of financial markets. World economic evidence from the last 20 years indicates that conscious policies are, in fact, capable of altering interest rates in the short term, without heavy costs. Such policies must be devised and pursued if we are to come out of recession.
- ISBN10 0198289499
- ISBN13 9780198289494
- Publish Date 1 July 1996
- Publish Status Active
- Out of Print 12 May 2003
- Publish Country GB
- Publisher Oxford University Press
- Imprint Clarendon Press
- Format Hardcover
- Pages 203
- Language English