First, mounting an appropriate monetary response is easier when you have a single central bank. Under the gold standard, it still would have been possible for central banks to reflate their depressed economies had they moved together.
首先，单一央行更方便实施合适的货币应对措施。即使在金本位下，如果各国央行能够集体行动，仍然可以对萧条的经济实施通胀措施。不幸的是，让各国央行集体行动说起来容易做起来难。不同国家的央行立场不同。它们评估经济前景的着眼点彼此相异。