What is the Monetary Standard

29 Pages Posted: 6 Jan 2016

See all articles by Robert L. Hetzel

Robert L. Hetzel

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 2015-11-09

Abstract

The monetary standard emerges out of the interaction of monetary policy with the structure of the economy. Characterization of the monetary standard thus requires specification of a model of the economy with a central bank reaction function. Such a specification raises all the fundamental issues of identification in macroeconomics.

JEL Classification: E50

Suggested Citation

Hetzel, Robert L., What is the Monetary Standard (2015-11-09). FRB Richmond Working Paper No. 15-16, Available at SSRN: https://ssrn.com/abstract=2711637

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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