Journal Article

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.

Keywords: Money;

Access Documents

Authors

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2002

Issue: May

Order Number: 1