Credibility and the International Monetary Regime : A Historical Perspective
Book Details
Format
Paperback / Softback
Book Series
Studies in Macroeconomic History
ISBN-10
1107459427
ISBN-13
9781107459427
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Oct 30th, 2014
Print length
256 Pages
Weight
392 grams
Dimensions
15.10 x 22.90 x 1.80 cms
Product Classification:
Monetary economicsEconomic history
Ksh 5,400.00
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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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