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Monetary Targets and The Public Sector Borrowing Requirement

In: Monetary Targets

Author

Listed:
  • P. E. Middleton

    (HM Treasury)

  • C. J. Mowl

    (HM Treasury)

  • J. C. Odling-Smee

    (HM Treasury)

  • C. J. Riley

    (HM Treasury)

Abstract

The objective of this paper is to explore the relationship between the Public Sector Borrowing Requirement (PSBR) and the growth of the money stock in the short to medium term. If the government sets itself a monetary target, it is naturally interested in what fiscal policies, and what associated PSBRs, are consistent with the target. Of course, this is only one of the many ways of looking at the PSBR but it is an important one. The discussion refers mostly to £ M3, the aggregate in terms of which the UK government’s monetary target is expressed.

Suggested Citation

  • P. E. Middleton & C. J. Mowl & J. C. Odling-Smee & C. J. Riley, 1981. "Monetary Targets and The Public Sector Borrowing Requirement," Palgrave Macmillan Books, in: Brian Griffiths & Geoffrey E. Wood (ed.), Monetary Targets, chapter 4, pages 135-182, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-16555-1_5
    DOI: 10.1007/978-1-349-16555-1_5
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