Glasner, David - In: Studies in the history of monetary theory : …, (pp. 195-237). 2021
Monetary-policy rules arise when the value of a medium of exchange exceeds its cost of production. Two classes of monetary rules can be identified: (1) price rules that target the value of money in terms of a real commodity, e.g., gold, or in terms of an index of prices, and (2) quantity rules...