Why is stable money such a big deal?
Abstract: What do attempts to counterfeit an enemy?s currency during wartime have in common with decisions to adopt another country?s currency during peacetime? Both are inspired by the power of a stable monetary standard and, conversely, the consequences of losing it. Both illustrate why preserving the value of the nation?s currency is a central bank?s most important responsibility.
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Description: Full text
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2002
Issue: MayOrder Number: 1