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In Search of a Monetary Anchor A "New" Monetary Standard

This paper explores recent versions of older ideas for stabilizing the value of money based on an independently defined unit of account. The gold standard was such a system, but suffered from gold’s fluctuating relative value and the costly need to redeem money for gold. This paper explores monetary...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1989
Series:IMF Working Papers
Subjects:
International Finance
Depository Institutions
Government And The Monetary System
Payment Systems
Banks
Banks And Banking
Monetary Economics
Regimes
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Micro Finance Institutions
Gold
Mortgages
Investments: Metals
Money
Metals And Metal Products
Cement
Money Supply
Glass
Investments: Commodities
Commodities
Monetary Base
Standards
Ceramics
Currencies
Monetary Systems
Banking
Investment & Securities
Commercial Products
Money And Monetary Policy
Commodity Markets
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper explores recent versions of older ideas for stabilizing the value of money based on an independently defined unit of account. The gold standard was such a system, but suffered from gold’s fluctuating relative value and the costly need to redeem money for gold. This paper explores monetary standards with relatively constant real values in which the supply of money is market determined by its redeemability for assets equal in value to its valuation basket (rather than for the basket itself). An SDR valuation basket with a constant real value might be widely adopted as a monetary standard
Physical Description:28 pages
ISBN:9781451954616

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