U.S. Monetary-Policy Evolution and U.S. Intervention

The United States all but abandoned its foreign-exchange-market intervention operations in late 1995, when they proved corrosive to the credibility of the Federal Reserve's commitment to price stability. We view this decision as the culmination of the evolution of U.S. monetary policy over the past century from a gold standard to a fiat money regime. The abandonment of intervention was necessary to secure monetary policy credibility

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Year of publication:	2011
Authors:	Bordo, Michael D.
Other Persons:	Humpage, Owen (contributor) ; Schwartz, Anna J. (contributor)
Publisher:	[2011]: [S.l.] : SSRN
Subject:	USA \| United States \| Wechselkurspolitik \| Exchange rate policy

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Extent:	1 Online-Ressource (13 p)
Series:	FRB of Cleveland Working Paper ; No. 11-27
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 27, 2011 erstellt
Other identifiers:	10.2139/ssrn.1950308 [DOI]
Classification:	F3 - International Finance ; N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations ; N2 - Financial Markets and Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013119099