Concept information
Preferred term
monetary policy: rules versus discretion
Definition
- Under a classical gold standard, there is little need for a central bank other than to provide coordination to the payments system. The value of money is determined by the supply of and the demand for gold. [Source: Encyclopedia of Business in Today's World; Monetary Policy: Rules Versus Discretion]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/monetary_policy:_rules_versus_discretion
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