Of gold and paper money

Chadha, Jagjit S. (2018) Of gold and paper money. CFM Discussion Paper Series (CFM-DP2018-21). Centre For Macroeconomics, London School of Economics and Political Science, London, UK.

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Abstract

We consider the role of money as a means of payment, store of value and medium of exchange. I outline a number of quantitative and qualitative experiences of monetary management. Successful regimes have sprung up in a variety of surprising places, and been sustained with state (centralised) interventions. Although the link between state and money, and its standard of identity and account may be clear, particularly in earlier stages of economic development, the extent to which the state is widely felt to hold responsibility for 'sound money' is less clear in modern democracies, where there are many other public responsibilities implying ongoing trade-offs.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://www.centreformacroeconomics.ac.uk/Home.aspx
Additional Information:	© 2018 Centre for Macroeconomics
Divisions:	Centre for Macroeconomics
Subjects:	H Social Sciences > HB Economic Theory
JEL classification:	B - Schools of Economic Thought and Methodology > B2 - History of Economic Thought since 1925 > B22 - Macroeconomics E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level; Inflation; Deflation
Date Deposited:	05 Oct 2018 15:32
Last Modified:	11 Dec 2024 19:28
URI:	http://eprints.lse.ac.uk/id/eprint/90379

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