Arbeitspapier
The coevolution of central banks and the concept of monetary policy
The explicit concepts of a central bank and monetary policy were not fully articulated until the 20th century, although, with some degree of circumspection, they can be used retrospectively in regard to earlier times. The oldest central banks were hardly central banks in the modern sense at their foundings. Rather they coevolved with the financial system and money itself. This paper traces that coevolution and the related coevolution of monetary policy from commodity money and policies related to the maintenance of the quality of the coin or intentional debasement to support the fiscal aims of the state, through the support of the banking system in crises, to the fiat money of today and policies of macroeconomic control.
- Language
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Englisch
- Bibliographic citation
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Series: CHOPE Working Paper ; No. 2023-04
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Hoover, Kevin D.
- Event
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Veröffentlichung
- (who)
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Duke University, Center for the History of Political Economy (CHOPE)
- (where)
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Durham, NC
- (when)
-
2023
- DOI
-
doi:10.2139/ssrn.4477539
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hoover, Kevin D.
- Duke University, Center for the History of Political Economy (CHOPE)
Time of origin
- 2023
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