Working Papers
December 2015, No. 15-16
What Is the Monetary Standard?
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.
Contact Us
Katrina Mullen
(804) 697-8145