Central Banking and Monetary Policy in Sweden during the Long Nineteenth Century

Anders Ögren

Chapter 2 in The Gold Standard Peripheries, 2012, pp 17-36 from Palgrave Macmillan

Abstract: Abstract The working of the gold standard is surrounded by interpretations and explanations based on theory. The most fundamental of these is the idea of central banks and their monetary policy as summarized in the expression ‘the rules of the game’. The ‘rules of the game’ means that the monetary policy of the central banks should aim to facilitate the effects of capital inflows or outflows on domestic markets — i.e. central banks’ monetary policy should work in a pro-cyclical manner. It is even said that a central bank should amplify the effects of the capital flows to ensure a quicker and more efficient adjustment of the current account.

Keywords: Monetary Policy; Central Bank; Money Supply; Foreign Asset; Monetary Base (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-36231-4_2

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DOI: 10.1057/9780230362314_2

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