haku: @journal_id 771 / yhteensä: 163
viite: 129 / 163
Tekijä: | Bordo, M. |
Otsikko: | Monetary regimes and economic performance |
Lehti: | Economic Affairs
1995 : AUTUMN, VOL. 15:4, p. 26-34 |
Asiasana: | MONETARY ECONOMICS ECONOMIC PERFORMANCE MONEY |
Kieli: | eng |
Tiivistelmä: | The gold standard and adjustable peg exchange rate systems collapsed because of iflexibility, design flaws and credible commitment of the dominant member. So did the EMS. A fiat regime with flexible exchange rates offers a great improvement. Which monetary regime is best for economic performance? One based on creditability in specie, in which the monetary authority defines its monetary unit in terms of a fixed weight of specie, or one based on government fiat? |
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