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Interest and Prices: Foundations of a Theory of Monetary Policy
Hardcover
ISBN13: 9780691010496
Publisher: Princeton Univ Pr
Published: Sep 7 2003
Pages: 808
Weight: 2.76
Height: 1.92 Width: 6.36 Depth: 9.50
Language: English
With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure fiat currencies be managed so as to create confidence in the stability of national units of account?
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