The Australian Notes Issue Board, 1920-1924: An Experiment with an Independent Monetary Authority
It is argued that the history of the Australian Commonwealth Notes Issue Board over the period 1920-1924 is supportive of Friedman's contention that the possibility of a genuinely independent monetary authority is illusory. The Board was created as a genuinely independent monetary authority. However, as the policies it pursued antagonised the government, it was soon abolished, as Friedman would predict.
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|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: UNIVERSITY OF TASMANIA, DEPARTMENT OF ECONOMICS, HOBART TASMANIA 7001 AUSTRALIA.|
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