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The Canadian Monetary Order: Past, Present, and Prospects

In: Canadian Policy Debates and Case Studies in Honour of David Laidler

Author

Listed:
  • William Robson
  • Peter Howitt

Abstract

The idea of a monetary order — a coherent and robust set of rules, institutions, expectations, and behaviours — deserves attention in a world still struggling to master that extraordinarily powerful and problematic invention, fiat money. My first encounter with the term was in a 1991 paper by David Laidler in which he drew on the exposition of Brunner (1984) to stress the need for considering the broader environment — the rules about the rules — in looking for alternatives when a given operational rule for monetary policy failed.

Suggested Citation

  • William Robson & Peter Howitt, 2010. "The Canadian Monetary Order: Past, Present, and Prospects," Palgrave Macmillan Books, in: Robert Leeson (ed.), Canadian Policy Debates and Case Studies in Honour of David Laidler, chapter 1, pages 1-40, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-27430-3_1
    DOI: 10.1057/9780230274303_1
    as

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