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Why is stable money such a big deal?

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  • David E. Altig

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.

Suggested Citation

  • David E. Altig, 2002. "Why is stable money such a big deal?," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
  • Handle: RePEc:fip:fedcec:y:2002:i:may1
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Cyber Instability
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2018-07-16 12:36:25

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    Cited by:

    1. John Chant, 2004. "Counterfeiting: A Canadian Perspective," Staff Working Papers 04-33, Bank of Canada.

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    Money;

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