| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w14993
|
| 来源ID | Working Paper 14993
|
| Monetary Policy and the Dollar |
| Peter L. Rousseau
|
| 发表日期 | 2009-05-21
|
| 出版年 | 2009
|
| 语种 | 英语
|
| 摘要 | In this essay I propose that the adoption of the U.S. dollar as a common currency shortly after the ratification of the Federal Constitution and the accompanying transition from a fiat to specie standard was a pivotal moment in the nation's early history and marked an improvement over the monetary systems of colonial America and under the Articles of Confederation. This is because the dollar and all that came with it monetized the modern sector of the U.S. economy and tied the supply of money more closely to the capital market and the provision of credit -- feats that were not possible in an era when colonial legislatures were unable to credibly commit to controlling paper money emissions. The switch to a specie standard was at the time necessary to promote domestic and international confidence in the nascent financial system, and paved the way for the long transition to the point when the standard was no longer required. |
| 主题 | Macroeconomics
; Money and Interest Rates
; History
; Macroeconomic History
; Financial History
|
| URL | https://www.nber.org/papers/w14993
|
| 来源智库 | National Bureau of Economic Research (United States)
|
| 引用统计 |
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572669
|
推荐引用方式
GB/T 7714 |
Peter L. Rousseau. Monetary Policy and the Dollar. 2009.
|
|
文件名：
|
w14993.pdf
|
|
格式：
|
Adobe PDF
|
此文件暂不支持浏览
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
