Economics Department

John Whittaker

go to John Whittaker’s Lancaster University page

Notes and comments

“Financial support for Italy will be costless”, June 2020

“Eurosystem debts do matter”, September 2016.

“Bank of England monetary operations with interest on reserves”, September 2012.

“Eurosystem debts, Greece, and the role of banknotes”, November 2011.

“Intra-eurosystem debts”, March 2011.

“The Gulf Currency: Lessons from the Euro”, Gulf One Centre for Economic Research, Lancaster University. Report (March 2010).

Teaching notes

“A Note on Monetary Policy”, January 2023.

Journal articles

“What will happen to the euro?” (with B.Connolly), Economic Affairs, Vol.23(1) (2003), p. 66-71, (pdf version)

"The Reputational Constraint on Monetary Policy". Lancaster University working paper (July 2001) (pdf version).

"Britain, EMU, and the European Economy" (with S.Bradley), Industrial Relations Journal, Vol.31, No.4 (October 2000), p.261-274

"Interest Bearing Currency", Oxford Economic Papers, Vol.51 (July 1999), p.476-486. download

"Fiscal Constraints and Financial Regulation in Economic and Monetary Union", Economic Affairs, Vol 18, No.1 (March 1998), p.51-55.

"Existence of Competitive Equilibrium When Incomes May Be Zero" (with H.Abraham and D.R.Smart), Economic Theory, Vol.8 (June 1996), p.177-182.

"Optimal Money Market Behaviour and Sterling Interest Rates" (with N.Schnadt), The Manchester School, Vol.63, No.4 (1995) p.368-387.

"Is Indirect Convertibility Impossible? A Reply" (with N.Schnadt), Journal of Money, Credit, and Banking, Vol.27, No.1 (1995), p.297-298.

"The Viability of an `Indirectly Convertible' Gold Standard: Comment" (with N.Schnadt), Southern Economic Journal, Vol.60, No.2 (1993), p.495-500.

"Inflation Proof Currency? The Feasibility of Variable Commodity Standards" (with N.Schnadt), Journal of Money, Credit, and Banking, Vol.25, No.2 (1993), p.214-221.

"Monetary Policy for Economic Growth", in Economic Growth in South Africa: Selected Policy Issues, eds. I. Abedian and B.Standish, Oxford University Press (1992).

"A Suggestion for the Operating Practices of the European Central Bank" (with N.Schnadt), Economies et Sociétés, Vol.9, No.1 (1992), p.133-145.

"The Price Elasticity of Electricity Demand in South Africa" (with G.D.I.Barr), Applied Economics, Vol.21, No.8 (1989), p.1153-1157.

"Is Dynamic Stability of Walrasian Equilibrium Achieved through Falling Target Utilities?" (with H.Abraham). International Economic Review, Vol.30, No.3 (1989), p.507-511.

"Monetary Policy: Its Scope and Limitations", Social Dynamics, Vol.13, No.1 (1987), p.13-20; reprinted in P.A.Black and B.E. Dollery (eds.), Leading Issues in South African Macroeconomics, (1989), Southern Books, Johannesburg.

 "Why Does the Reserve Bank Set the Interest Rate?" (with A.J.Theunissen), South African Journal of Economics, Vol.55, No.1 (1987), p.16-33.

"The Demand for Money in South Africa", South African Journal of Economics, Vol.53, No.2 (1985), p.184-196.

“Neutron-proton Bremsstrahlung at 4.8 MeV” (with F.D.Brooks and I.J. Van Heerden), Nuclear Physics A, Vol. 362, No.1 (1981), p. 173-188.