Michael D. Bordo
and Lars Jonung
Lars Jonung: Dept. of Economics, Stockholm School of Economics, Postal: Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
Abstract: Axel Leijonhufvud has written extensively on monetary regimes and monetary reform. His contributions in these fields are examined here using evidence from 15 countries over the past century with respect to their experiences of various monetary regimes. The performance of both nominal and real variables are compared to the predictions of Leijonhufvud's theoretical writings. We conclude that our findings are consistent with these predictions.
86 pages, May 1994
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