What's more, even if a new monetary standard
were able somehow to overcome the network effects favoring established fiat monies, there is no reason for assuming that the new standard would be based on gold rather than some different, and perhaps as yet untried, exchange medium.
The businessmen wanted a depreciated standard, whereas the government representatives preferred a strong monetary standard
so India could continue paying its home charges.
(12.) The assumption is not true in any literal sense in that the evolution of the monetary standard
since the breakdown of the gold standard has been one of learning.
The results indicate that if we rely only on monetary standards
, there is an increased risk of classifying as non-poor individuals who still suffer significant deprivation.
government to set up the country's monetary standard
, Congress deemed it appropriate to adopt the monetary standard
represented by this ubiquitous and well-respected coin.
By the same token that one would estimate the value of goods according to a certain weight of gold, the length of the silk cloth became a monetary standard
in China and before long it was acceptable even when used in trade with foreign countries.
The gold standard, was never, and the "gold-exchange standard" even less, a fully automatic monetary standard
For a couple of decades, the people of the former Yugoslav republics used the Deutsche mark as their preferred monetary standard
for the same reason that people in many countries around the world use the U.S.
The other unstated but ambiguous issue surrounds whether the real or monetary shocks determined the subsequent deflationary path or whether that path was an additional outcome arising from the international monetary standard
. Identifying a mechanism in a VAR to uncover potentially informative effects from these paths remains a challenge for further research.
Thus it's not just what is called the monetary standard
, which comprises the laws, regulations, and bureaucracy governing the money supply, but also includes expectations--does the public believe the commitment to zero inflation, or not?
Dollarization is a generic term meaning a country's adoption of another sovereign state's monetary standard
or the "pegging" of its own money to another currency.
This also is unnecessary, because if the monetary standard
were to be covered and stable and the issue of money separated from the public budget, the government would have no difficulties, in fact would be forced into devising and realizing in practice a balanced budget.
The Federal Reserve Act had legally preserved gold as the ultimate monetary standard
in the United States.
But can anyone think of a better reference unit than gold to serve as a monetary standard
After David Kinley (1913) devoted his American Economic Association presidential address to 'Objections to a Monetary Standard
Based on Index Numbers' that is, his vehement objections to Fisher's compensated dollar plan--Kinley's name appeared only infrequently in Fisher's later writings, which tended to attribute the 1896 estimate to the Office of the Comptroller of the Currency and the 1910 estimate to the National Monetary Commission.