Credibility and the International Monetary Regime : A Historical Perspective
Book Details
Format
Hardback or Cased Book
Book Series
Studies in Macroeconomic History
ISBN-10
0521811333
ISBN-13
9780521811330
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Apr 9th, 2012
Print length
256 Pages
Weight
484 grams
Dimensions
23.40 x 15.90 x 2.20 cms
Product Classification:
Monetary economicsEconomic history
Ksh 19,600.00
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Between 1914 and the present several monetary regimes gradually moved away from the gold standard, with varying success in maintaining price stability and credibility. This book presents ten studies which combine historical narrative with econometrics to analyze the role of credibility in four monetary regimes.
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. Between 1914 and the present several monetary regimes gradually moved away from gold, with varying success in maintaining price stability and credibility. In this book, the editors present ten studies combining historical narrative with econometrics that analyze the role of credibility in four monetary regimes, from the gold standard to the present managed float.
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