Unconventional monetary policy in the past: Lessons for today

I start by sharing a recent vox.eu article written by Patrick O’Brien and myself which relies on our recent work about the Bank of England during the Restriction Period, 1797-1821 (during which gold convertibility of banknotes was suspended).

We are currently revising the paper in preparation to be submitted to a journal and in due time a new working paper will come out, and at that point I’ll post some new thoughts.

james-gillray-cartoon-009

 

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