The Contribution of a Monetary History of the United States: 1867 to 1960 to Monetary History

68 Pages Posted: 6 Jul 2004

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: April 1988

Abstract

This paper assesses the role of Friedman and Schwartz's "A Monetary History of the United Slates: 1867 to 1960" as a progenitor of research in monetary history. The paper critically surveys the literature on three major themes in the book: monetary disturbances; the domestic monetary framework and monetary policy: and monetary standards. The book's unique portrayal of the historical circumstances of monetary disturbances and of alternative institutional arrangements serves as the closest thing to a laboratory experiment for the monetary economist. Historical study has become an important tool of modern macroeconomic research.

Suggested Citation

Bordo, Michael D., The Contribution of a Monetary History of the United States: 1867 to 1960 to Monetary History (April 1988). NBER Working Paper No. w2549. Available at SSRN: https://ssrn.com/abstract=425575

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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