The Stability of the Gold Standard and the Evolution of the International Monetary System

The Stability of the Gold Standard and the Evolution of the International Monetary System
This paper examines some popular explanations for the smooth operation of the pre-1914 gold standard. We find that the rapid adjustment of economies to underlying disturbances played an important role in stabilizing output and employment under the gold standard system, but no evidence that this success also reflected relatively small underlying... READ MORE...

Publication date: September 1995
ISBN 9781451851243
$15.00

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