Muddling Through or Tunnelling Through? UK Monetary and Fiscal Exceptionalism During Great Inflation

February 8, 2023
Hoover Institution | Stanford University

Michael Bordo, Ilene and Morton Harris Distinguished Visiting Fellow at the Hoover Institution, Board of Governors Professor of Economics and director of the Center for Monetary and Financial History at Rutgers University, and Oliver Bush, senior economist at the Bank of England, discussed “‘Muddling Through or Tunnelling Through?’ UK Monetary and Fiscal Exceptionalism During the Great Inflation,” a paper with Ryland Thomas (Bank of England).

PARTICIPANTS
Michael Bordo, Oliver Bush, John Taylor, Richard Anderson, Christopher Ball, David Bailey, Valentin Bolotnyy, David Brady, Luca Branco, John Cochrane, Chris Dauer, Steve Davis, Randi Dewitty, Sami Diaf, John Duca, Sebastian Edwards, Christopher Erceg, Andy Filardo, Paul Gregory, Joseph Gruber, Joseph Haubrich, Gregory Hess, Robert Hetzel, Nicholas Hope, Ken Judd, Morris Kleiner, Pete Klenow, Donald Koch, Evan Koenig, Roman Kräussl, Jeff Lacker, Mickey Levy, John Lipsky, Michael Melvin, Alex Merk, Elke Muchlinski, David Papell, Elena Pastorino, Paul Peterson, Ned Prescott, Laust Særkjær, Lawrence Schembri, Pierre Siklos, Christine Strong, Jack Tatom, George Tavlas, James Van Horne

ISSUES DISCUSSED
Michael Bordo, Ilene and Morton Harris Distinguished Visiting Fellow at the Hoover Institution, Board of Governors Professor of Economics and director of the Center for Monetary and Financial History at Rutgers University, and Oliver Bush, senior economist at the Bank of England, discussed “‘Muddling Through or Tunnelling Through?’ UK Monetary and Fiscal Exceptionalism During the Great Inflation,” a paper with Ryland Thomas (Bank of England).

John Taylor, the Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Senior Fellow in Economics at the Hoover Institution, was the moderator.

To read the paper, click the following link
https://www.hoover.org/sites/default/files/2023-02/Muddling%20through%5B100%5D%5B2%5D.pdf

To read the slides for Michael Bordo, click the following link
https://www.hoover.org/sites/default/files/2023-02/Bordo%20UK%20Narrative%20slides%20February%203%202023%20%20-%20%20Read-Only.pdf

To read the slides for Oliver Bush, click the following link
https://www.hoover.org/sites/default/files/2023-02/Oliver%20Bush-Hoover%20BBT%5B2%5D.pdf