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'Fine-tuning' can be defined as frequent discretionary adjustments to policy instruments. This article attempts to isolate this issue from a multiplicity of criticisms directed at UK economic policy-making. The attack on fine-tuning itself by the New Cambridge and the Manchester monetarist...
This article analyses the trend of earnings in the public and private sectors of the British economy from 1950 to 1975. It was found that public and private sector earnings moved closely together throughout the 1950s and 1960s but then diverged considerably in the early 1970s, with public sector...
The changes in the exchange rates of the major exporters of manufactures between 1967 and 1971 were followed by substantial changes in their export performance measured against trends before the realignment, indicating that the devaluations and revaluations were effective, contrary to some...
Over recent years there has been increasing criticism of what may be called 'conventional' economic policy-making The methods of forecasting and analysis used at the National Institute and elsewhere are at the centre of this type type of policy formation, and, although there have certainly been...
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