The control of the liquidity and the Radcliffe Committee

Authors

  • L.J. HUME

DOI:

https://doi.org/10.13133/2037-3643/11940

Keywords:

Bank liquidity, money supply, quasi-money, Italy, Radcliffe Committee, Gambino

Abstract

In “The Control of Liquidity in Italy”, A. Gambino offered an interesting account of factors determining the levels of bank liquidity, money and quasi-money in Italy. In his opening remarks, however, he linked his comments with the Radcliffe Committee’s view that “it is the liquidity of the economy rather than the supply of money that the authorities should seek to affect by their use of monetary measures”. In this brief note, the author argues that this reference to the Radcliffe Committee’s conclusion is not appropriate as it implies a misleading picture of the Committee’s thesis. Moreover, the concept of liquidity used by the Committee is not the same as that explored by Gambino in remainder of his article.

 

JEL: E42, E51, E52

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How to Cite

HUME, L. (2014). The control of the liquidity and the Radcliffe Committee. PSL Quarterly Review, 13(55). https://doi.org/10.13133/2037-3643/11940

Issue

Vol. 13 No. 55 (1960)

Section

Editorial

License

 
 
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