German Monetary History in the Second Half of the Twentieth Century: From the Deutsche Mark to the Euro

36 Pages Posted: 2 Dec 2012

See all articles by Robert L. Hetzel

Robert L. Hetzel

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 2002

Abstract

To understand the origin of the modern central bank — its institutional structure and monetary policy — one must understand the history of the Bundesbank. The narrative history offered here examines the evolution of that institution, from the start and the collapse of the Bretton Woods system, to the experiment with aggregate demand policies in the 1970s, to the emergence of stability policy in the 1980s. The story concludes with the role the Bundesbank played during the creation of the European Central Bank.

Suggested Citation

Hetzel, Robert L., German Monetary History in the Second Half of the Twentieth Century: From the Deutsche Mark to the Euro (2002). FRB Richmond Economic Quarterly, vol. 88, no. 2, Spring 2002, pp. 29-64, Available at SSRN: https://ssrn.com/abstract=2183330

Robert L. Hetzel (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

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