Some Colonial Evidence on Two Theories of Money
Maryland and the Carolinas
Bibliographic Data
| ID | 11833877 |
|---|---|
| Authors | B D Smith (0000-0002-1643-2997, Federal Reserve Bank of Minneapolis, corresponding author) |
| Year | 1985 |
| Publication date | 1985-04-01 |
| Open Access | No |
| Type | PREPRINT |
| Publisher | Federal Reserve Bank of Minneapolis (PUBLISHER) |
| DOI | 10.21034/wp.245 |
| OpenAlex | W4256265808 |
| Language | EN |
| Citations received | 2 |
| References cited | 4 |
Recent developments in monetary economics stress the nature of monetary injections, emphasizing that these have implications for the relationship between money and prices. In constrast, traditional approaches posit stable money demand functions that are independent of how money is injected. The former approach implies that certain proportionality relations between money and prices need not obtain. This permits the two approaches to be empirically distinguished, but only if an appropriate "experiment" is conducted. The colonial period is one such experiment. Colonial evidence suggests that the nature of injections is crucial to the effect on prices of changes in the money supply
Colonialism · Economics · Endogenous money · Keynesian economics · Monetary economics · Monetary policy · Money supply · Political science · Proportionality (law · Quantity theory of money · Colonialism, slavery, and trade · Law
| Citations per year | 0.12 |
|---|---|
| Citation span | 2009 - 2013 (5) |
| Highly cited | No |