Understanding Money Using Historical Evidence

Adam Brzezinski (), Nuno Palma and Francois Velde ()
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Adam Brzezinski: London School of Economics and Political Science, London, United Kingdom

Annual Review of Economics, 2024, vol. 16, issue 1, 571-595

Abstract: Debates about the nature and economic role of money are mostly informed by evidence from the twentieth century, but money has existed for millennia. We argue that there are many lessons to be learned from monetary history that are relevant for current topics of policy relevance. The past is a source of evidence on how money works across different situations, helping to tease out features of money that do not depend on one time and place. A close reading of history also offers testing grounds for models of economic behavior and can thereby guide theories on how money is transmitted to the real economy.

Keywords: monetary policy; natural experiments; monetary history; identification in macroeconomics; policy experiments (search for similar items in EconPapers)
JEL-codes: E40 E50 N10 (search for similar items in EconPapers)
Date: 2024
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Working Paper: Understanding money using historical evidence (2024)
Working Paper: Understanding money using historical evidence (2024)
Working Paper: Understanding Money Using Historical Evidence (2024)
Working Paper: Understanding money using historical evidence (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:anr:reveco:v:16:y:2024:p:571-595

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DOI: 10.1146/annurev-economics-091923-040328

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