Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/301986 
Title (translated): 
Monetarist Objectives? The Bundesbank's Monetary Targeting in the 1970s and 1980s
Authors: 
Year of Publication: 
2024
Citation: 
[Journal:] Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte (VSWG) [ISSN:] 2365-2136 [Volume:] 111 [Issue:] 3 [Year:] 2024 [Pages:] 308-330
Publisher: 
Franz Steiner Verlag, Stuttgart
Abstract (Translated): 
The annual announcement of monetary targets which the Deutsche Bundesbank started in 1974 is considered a core element of German monetary policy after the end of the Bretton Woods regime of fixed exchange rates. The paper asks to what extent this reorientation was shaped by monetarist ideas and how it related to the Keynesian paradigm that had prevailed until then. It then analyses the actual relevance of monetary targets for monetary policy, the increasing criticism of their frequent failure and the persistence of monetary targeting until the 1990s, which requires explanation, on the basis of the debates within the Bundesbank, especially in the Central Bank Council.
Subjects: 
monetary history
inflation
monetarism
central bank
monetary policy
monetary targeting
JEL: 
B22
B26
N14
N24
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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