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Understanding money using historical evidence
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Orientador(es)
Resumo(s)
Debates about the nature and economic role of money are mostly informed by evidence from the twentieth century, but money has existed for millennia. We argue that there are many lessons to be learned from monetary history that are relevant for current topics of policy relevance. The past is a source of evidence on how money works across different situations, helping to tease out features of money that do not depend on one time and place. A close reading of history also offers testing grounds for models of economic behavior and can thereby guide theories on how money is transmitted to the real economy.
Descrição
Palavras-chave
monetary policy monetary history natural experiments policy experiments identification in macroeconomics
Contexto Educativo
Citação
Brzezinski, A., Palma, N. & Velde, F. R. (2024). Understanding money using historical evidence. Annual Review of Economics, Vol. 16, N. 1, pp. 571-595. DOI: 10.1146/annurev-economics-091923-040328