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The Temporary Re-emergence of Rules

In: Stabilising Capitalism

Author

Listed:
  • Pierluigi Ciocca

    (Accademia Nazionale dei Lincei)

Abstract

The inflation of the 1970s brought to the fore the approach opposite to T-B-K-M. That inflation — which continued until 1985 with average annual peaks of 13 per cent in the OECD countries — was ascribed by many, not to the explosion of the relative prices of energy and labour and the fiscal crisis of the State, but to an alleged monetary laxity on the part of the central banks, “distracted” by the multiplicity of duties assigned to them, including financial supervision.1

Suggested Citation

  • Pierluigi Ciocca, 2015. "The Temporary Re-emergence of Rules," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Stabilising Capitalism, chapter 5, pages 24-30, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-55551-9_5
    DOI: 10.1057/9781137555519_5
    as

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