Abstract
Monetary innovation, the development of new forms of money, has not received much systematic study from economic historians. This essay presents a framework for analyzing the determinants of monetary innovation and illustrates the argument by means of a sketch of monetary innovation in America from colonial times to the present.
Publisher
Cambridge University Press (CUP)
Subject
Economics, Econometrics and Finance (miscellaneous),Economics and Econometrics,History
Reference9 articles.
1. Banking Reform in the 1930s
2. The errors are not symmetric. The inflation that might (but not necessarily does) result from monetary innovation could avoid some—perhaps most—of the real resource costs of sole reliance on the precious metals for money. One wonders whether this asymmetry can explain why history, as some allege, has an inflationary bias.
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26 articles.
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