Credibility and the international monetary regime: a historical perspective

Contributor(s):

Series: Studies in Macroeconomic HistoryPublication details: 2012 Cambridge University Press New YorkDescription: xiii, 240 pISBN:

9780521811330

Subject(s):

DDC classification:

332.45 C7

Summary: 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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Item type	Current library	Collection	Call number	Status	Date due	Barcode	Item holds
Book	Ahmedabad	Non-fiction	332.45 C7 (Browse shelf(Opens below))	Available		177819

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	332.45 C6E91/99 Exchange rates and international finance	332.45 C6E9-2014 Exchange rates and international finance	332.45 C7 Credibility and the international monetary regime: a historical perspective

Includes bibliographical references (p. 223-234) and index.

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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