[PDF.82sd] Credibility and the International Monetary Regime (Studies in Macroeconomic History)

Credibility and the International Monetary Regime (Studies in Macroeconomic History)

[PDF.od63] Credibility and the International Monetary Regime (Studies in Macroeconomic History)

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 | #4597920 in eBooks |  2012-02-24 |  2012-02-24 | File type: PDF

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|| |'This collection of state-of-the-art studies, combining deep historical knowledge with modern statistical methods, sheds important new light on long-standing controversies concerning the evolution of the international monetary system.' Barry Eichengreen, Unive

The present global monetary regime is based on floating among the major advanced countries. A key underlying factor behind the present regime is credibility to maintain stable monetary policies. The origin of credibility in monetary regimes goes back to the pre-1914 classical gold standard. In that regime, adherence by central banks to the rule of convertibility of national currencies in terms of a fixed weight of gold provided a nominal anchor to the price level. Betwee...

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