Understanding Money Using Historical Evidence
认为货币历史能为当前政策议题提供重要启示，通过分析不同时期货币的运行方式，揭示其跨时空的共性特征，并为经济行为模型提供检验依据。
Debates about the nature and economic role of money are mostly informed by evidence from the twentieth century, but money has existed for millennia. We argue that there are many lessons to be learned from monetary history that are relevant for current topics of policy relevance. The past is a source of evidence on how money works across different situations, helping to tease out features of money that do not depend on one time and place. A close reading of history also offers testing grounds for models of economic behavior and can thereby guide theories on how money is transmitted to the real economy.