Discipline or international balance: the choice of monetary systems in Europe

Jonas Ljungberg, Anders Ögren

Forskningsoutput: TidskriftsbidragArtikel i vetenskaplig tidskriftPeer review

Sammanfattning

In retrospect and erroneously the nineteenth century international gold standard was interpreted as a quest for monetary discipline. The discipline argument was introduced after WWI in support for a restoration of the gold standard. The interwar failure led to an emphasis on international balances, the argument which came to the fore in the preparations for the Bretton Woods system. The balance argument was central in the early discussions of monetary union in Europe, but with the criticism of Keynesianism the discipline argument became determinant in the design of the Economic and Monetary Union.
Originalspråkengelska
Sidor (från-till)218-245
TidskriftEuropean Journal of the History of Economic Thought
Volym29
Nummer2
Tidigt onlinedatum2021 juli 21
DOI
StatusPublished - 2022

Ämnesklassifikation (UKÄ)

  • Ekonomisk historia

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