Of Gold and Paper Money

Jagjit Chadha

No 1821, Discussion Papers from Centre for Macroeconomics (CFM)

Abstract: We consider the role of money as a means of payment, store of value and medium of exchange. I outline a number of quantitative and qualitative experiences of monetary management. Successful regimes have sprung up in a variety of surprising places, and been sustained with state (centralised) interventions. Although the link between state and money, and its standard of identity and account may be clear, particularly in earlier stages of economic development, the extent to which the state is widely felt to hold responsibility for 'sound money' is less clear in modern democracies, where there are many other public responsibilities implying on going trade-offs.

Keywords: Money; Gold standard; Paper money; Samuelson (search for similar items in EconPapers)
JEL-codes: B22 E02 E31 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2018-07
New Economics Papers: this item is included in nep-his, nep-hpe, nep-mac, nep-mon and nep-pay
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Related works:
Journal Article: Of Gold and Paper Money (2018)
Working Paper: Of Gold and Paper Money (2018)
Working Paper: Of gold and paper money (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:cfm:wpaper:1821

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