Monetary Policy and Business Cycle: The View From Geneva in the 1920s.

In collaboration with the Economic and Financial section of the League of Nation in Geneva, International Labour Organisation built a programme focusing on the causes of economic fluctuations and the monetary policies necessary to counter these fluctuations. Indeed, the view form the Geneva was a substantive precursor to modern discussion on the role of monetary policy. It is the object of this paper to examine the ILO-League programme in some detail and to assess its distinctiveness.