Description
This work is a study of the Keynes and Friedman approaches to the institutions which implement monetary and other related policies. The policy of the United States is reviewed, in part, because of the US’s ratehr central role in development since World War I. The exchange-rate, reserve and capital-flow mechanisms of the central banks are discussed from an historical perspective. The major banks, and fiscal/deficit potential of government are emphasised. The principal central banks considered are the Bank of England, Federal Reserve and Bundesbank.
