Money, Inflation and Employment examines issues of economic policy and theory through a series of original essays written in recognition of Sir James Ball's seminal contribution to macroeconomic modelling, forecasting and economic policy making.Contributions by leading policymakers focus primarily on the UK economy, with papers by Jeremy Bray, MP, on managing the economy, Alan Budd, Chief Economic Adviser to the Treasury, on exchange rate policy, Sir Terence Burns, Permanent Secretary to the Treasury, on the Treasury's responsibilities and character, and Bill Robinson on the effects of North Sea oil.

Later contributions address technical questions, with papers by David Currie and Steven Hall on expectations and learning, D.F. Hendry and M.P. Clements on a theory of intercept corrections in macroeconomic forecasting, Lawrence Klein on economic forecasting and decision making under uncertainty, Ken Wallis and Keith Church on price homogeneity and the supply side in a number of models of the UK economy.