Bordo, Michael D.; Dittmar, Robert; Gavin, William T. - 2021
gold standard has long been associated with long-run price stability. But critics of the day argued that the regime was … four alternative regimes. They are the gold standard, Irving Fisher's compensated dollar proposal, and two regimes with … a unit root into the price level, provides more short-run stability than the gold standard and as much long-term price …