Currency depreciation and the monetary adjustment process: reconsidering Lord King’s contributions

Joseph T. Salerno; Carmen Dorobat

doi:10.1093/oep/gpx044

Currency depreciation and the monetary adjustment process: reconsidering Lord King’s contributions

Joseph T. Salerno, Carmen Dorobat

Research output: Contribution to journal › Article › peer-review

54 Downloads (Pure)

Abstract

This paper investigates Lord King’s contributions in light of the renewed debate on international monetary policy coordination. We argue that King’s work contains refined bullionist insights concerning currency depreciation, exchange rate determination, and balance of payments adjustment. We show how King’s analysis of the monetary process under different currency regimes can help elucidate the effects of unconventional monetary policy on a global scale, concerning monetary spillovers, currency wars, business cycles, and the distribution of wealth.

Original language	English
Article number	gpx044
Pages (from-to)	699-718
Journal	Oxford Economic Papers
Volume	70
Issue number	3
DOIs	https://doi.org/10.1093/oep/gpx044
Publication status	Published - 23 Sept 2017

Keywords

monetary policy
history of economic thought
monetary systems

Access to Document

10.1093/oep/gpx044

Salerno_&_Dorobat_2017_Oxford_Economic_Papers
This is a pre-copyedited, author-produced version of an article accepted for publication in Oxford Economic Papers following peer review. The version of record Salerno, J. T., & Dorobat, C. (2017). Currency depreciation and the monetary adjustment process: reconsidering Lord King’s contributions. Oxford Economic Papers, is available online at: 10.1093/oep/gpx044.
Accepted author manuscript, 349 KB

Cite this

@article{8191e140b0b44646bbc3db95dd1e02af,

title = "Currency depreciation and the monetary adjustment process: reconsidering Lord King{\textquoteright}s contributions",

abstract = "This paper investigates Lord King{\textquoteright}s contributions in light of the renewed debate on international monetary policy coordination. We argue that King{\textquoteright}s work contains refined bullionist insights concerning currency depreciation, exchange rate determination, and balance of payments adjustment. We show how King{\textquoteright}s analysis of the monetary process under different currency regimes can help elucidate the effects of unconventional monetary policy on a global scale, concerning monetary spillovers, currency wars, business cycles, and the distribution of wealth.",

keywords = "monetary policy, history of economic thought, monetary systems",

author = "Salerno, {Joseph T.} and Carmen Dorobat",

year = "2017",

month = sep,

day = "23",

doi = "10.1093/oep/gpx044",

language = "English",

volume = "70",

pages = "699--718",

journal = "Oxford Economic Papers",

issn = "0030-7653",

publisher = "Oxford University Press",

number = "3",

}

TY - JOUR

T1 - Currency depreciation and the monetary adjustment process: reconsidering Lord King’s contributions

AU - Salerno, Joseph T.

AU - Dorobat, Carmen

PY - 2017/9/23

Y1 - 2017/9/23

N2 - This paper investigates Lord King’s contributions in light of the renewed debate on international monetary policy coordination. We argue that King’s work contains refined bullionist insights concerning currency depreciation, exchange rate determination, and balance of payments adjustment. We show how King’s analysis of the monetary process under different currency regimes can help elucidate the effects of unconventional monetary policy on a global scale, concerning monetary spillovers, currency wars, business cycles, and the distribution of wealth.

AB - This paper investigates Lord King’s contributions in light of the renewed debate on international monetary policy coordination. We argue that King’s work contains refined bullionist insights concerning currency depreciation, exchange rate determination, and balance of payments adjustment. We show how King’s analysis of the monetary process under different currency regimes can help elucidate the effects of unconventional monetary policy on a global scale, concerning monetary spillovers, currency wars, business cycles, and the distribution of wealth.

KW - monetary policy

KW - history of economic thought

KW - monetary systems

U2 - 10.1093/oep/gpx044

DO - 10.1093/oep/gpx044

M3 - Article

SN - 0030-7653

VL - 70

SP - 699

EP - 718

JO - Oxford Economic Papers

JF - Oxford Economic Papers

IS - 3

M1 - gpx044

ER -

Currency depreciation and the monetary adjustment process: reconsidering Lord King’s contributions

Abstract

Keywords

Access to Document

Fingerprint

Cite this