Explorations in Monetary History: a Survey of the Literature

104 Pages Posted: 23 Apr 2004 Last revised: 25 Jun 2010

See all articles by Michael D. Bordo

Michael D. Bordo

Rutgers University, New Brunswick - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: 1986

Abstract

Explorationsin Monetary History: A Survey of the Literature Monetary economists have long been interested in economic history asa laboratory for the testing of theory. This paper surveys recent work in monetary history within the context of the modern quantity theory of money and the new classical macroeconomics. Topics surveyed include: the development of historical monetary statistics and the determinants of money supply and money demand; historical uses of Granger-Sims causality tests of the relationships between money, prices, and output; historical studies of the secular behavior of velocity; the Great Depression; financial crises; historical evidence for the long-run and short-run neutrality of money; the domestic and international aspects of monetary standards. The paper concludes with an evaluation and an agenda for future research.

Suggested Citation

Bordo, Michael D., Explorations in Monetary History: a Survey of the Literature (1986). NBER Working Paper No. w1821. Available at SSRN: https://ssrn.com/abstract=338854

Michael D. Bordo (Contact Author)

Rutgers University, New Brunswick - Department of Economics ( email )

New Brunswick, NJ
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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