The Rise and Fall of Credit Controls: The Case of Sweden 1939-89
Why do economic policies change? Why do policy makers replace one policy regime with another? An answer to this question is provided here by using Swedish central bank policy over the past 50 years as a case study. Swedish authorities moved in the 1940s and 1950s from a traditional monetary policy based on open market operations, discount changes and unregulated international flows of money and ca
