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The Gold Standard Peripheries pp 17–36Cite as

Palgrave Macmillan

Central Banking and Monetary Policy in Sweden during the Long Nineteenth Century

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Abstract

The working of the gold standard is surrounded by interpretations and explanations based on theory. The most fundamental of these is the idea of central banks and their monetary policy as summarized in the expression ‘the rules of the game’. The ‘rules of the game’ means that the monetary policy of the central banks should aim to facilitate the effects of capital inflows or outflows on domestic markets — i.e. central banks’ monetary policy should work in a pro-cyclical manner. It is even said that a central bank should amplify the effects of the capital flows to ensure a quicker and more efficient adjustment of the current account.

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Authors
  1. Anders Ögren
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Editor information

Editors and Affiliations

  1. Department of Economic History, Uppsala University, Sweden

    Anders Ögren (Associate Professor at UCBH) (Associate Professor at UCBH)

  2. Norwegian School of Economics, Norway

    Lars Fredrik Øksendal (researcher affiliated) (researcher affiliated)

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© 2012 Anders Ögren

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Ögren, A. (2012). Central Banking and Monetary Policy in Sweden during the Long Nineteenth Century. In: Ögren, A., Øksendal, L.F. (eds) The Gold Standard Peripheries. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230362314_2

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