Intro -- Contents -- From Political Radicalism to Political Catholicism Hilaire Belloc and the Roots of the English Catholic Intellectual Community -- The Greater Servants McNabb, Gill, Chesterton, and the Establishment of the Bellocian Orthodoxy -- The Lesser Servants The Next Generation and the Maturation of the Bellocian Orthodoxy -- The Dawsonite Challenge -- The Unmaking of the English Catholic Intellectual Community -- Index.
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The author discusses the need for and the desirability of governmental regulation of the securities market. This assessment, which is made from an economic perspective, leads to the conclusion that the SEC is ineffective in protecting investors and that the regulatory role of the government should be diminished.
In this paper we examine the stability of the real exchange rate and the macroeconomic effects of alternative exchange rate regimes, including currency union, on real exchange rate behaviour. We focus on the Irish punt in order to exploit its diversity of experience over different nominal exchange rate regimes. We make both temporal and cross‐country comparisons of real exchange rate stability for the Irish punt with sterling, the US dollar and the German mark. We reach two conclusions on the basis of our results. The first is that for Ireland, as for most other countries, purchasing power parity provides a reasonably good description of actual exchange rate behaviour over the long run. Our second principal conclusion concerns regime effects. Currency union appears to matter. The real exchange rates we analyse are unambiguously less variable under currency union than under alternative exchange rate systems. Otherwise, however, we find no clear‐cut differences in behaviour across regimes.
'Monetarism' is said to be under attack and in retreat. Its practitioners claim it offers surer guidance to the financial condition of Western economies than alternative explanations. Professor Michael Darby and James Lothian, after a wide‐ranging study of monetary policy in eight countries over nearly thirty years, argue that the US economy can expect a dip in economic growth in mid‐1984.
The Prime Minister's monetary policy has been widely condemned as failing. Two American observers of British economic policy, an academic and a practical economist, maintain that the evidence shows both that it is working effectively and that there is no convincing argument for abandoning it.
