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Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions

We compare the resumption of convertibility into gold by the United States in 1879 and the United Kingdom in 1925 to ascertain the degree to which the outcomes reflect differences in strategies adopted by the authorities or in the external environment. It is concluded that external factors were the most important determinant of the very different outcomes of the two episodes.
Year of publication:
1996-04
Authors: Bayoumi, Tamim ; Bordo, Michael D
Institutions: C.E.P.R. Discussion Papers
Subject: Exchange Rate Pegs | Gold Standard
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Notes:
Number 1390
Classification: F31 - Foreign Exchange ; F33 - International Monetary Arrangements and Institutions ; F36 - Financial Aspects of Economic Integration
Source:
Persistent link: https://www.econbiz.de/10005123560
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