Il Rapporto Radcliff: politica monetaria e gestione del debito pubblico. (Radcliffe Report: monetary policy and debt-management reconciled?)

The article discusses the main conclusions of the Radcliffe Report, the first full-scale study of Britain’s monetary system since 1931. The author is especially concerned with debt management and monetary policy that he sees as the primary concern of the Radcliffe Committee members. The main idea, that debt management has become the fundamental domestic task of the central bank, is considered in light of the US experience and the principal that debt management should be the exclusive responsibility of the Treasury under US legislative arrangements. JEL: E42, E52, E58, E62