Quantitative monetary policy and government debt management in Britain since 1919
考察了1919年以来英国四次国债管理事件，探讨债务管理与货币政策的关系，并将当前的量化宽松政策置于历史背景下讨论。
The enormous increase in the United Kingdom’s national debt during the two world wars of the twentieth century meant that government debt management, which had hitherto been regarded as a matter of ‘budgetary convenience’, acquired great macroeconomic significance. The paper examines and compares four episodes in the management of the national debt since 1919 and in each case explores the relationship between debt management and monetary policy. The current policy of quantitative easing is a form of government debt management and the paper discusses it in the context of the earlier episodes. Copyright 2012, Oxford University Press.