Monetary Policy History

Bundesbank organised a conference celebrating its 50 years. I had covered two papers from the conference by Mishkin and by Svensson.

David Laidler presented a super paper on History of Monetary Policy titled ‘Sucess and failure of monetary policy since the 1950s’.

The paper is more interesting as it also presents a political angle to the history of monetary policy and the way it emerged as central to policymaking.

It begins by looking at Bretton Woods system and exchange rate targeting regime followed by most countries as inflation was never really considered a worry. The paper then looks at advent of inflation and how central banks and government in different countries responded to it.

The paper is very well written and is very precise (just about 24 pages) and a must read for monetary policy followers.

2 Responses to “Monetary Policy History”

  1. Does who chairs the Central Bank matter? « Mostly Economics Says:

    […] on central banking (HT: Ken Kuttner). There are many interesting facets of central banking – which anchor to choose, politics, independence, communications , legal aspects , monetary policy committees […]

  2. The development of monetary policy in 20th century « Mostly Economics Says:

    […] For similar papers on monetary policy history see this and this as well Possibly related posts: (automatically generated)Chile’s development […]

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