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9780521063517

Modern Perspectives on the Gold Standard

by
  • ISBN13:

    9780521063517

  • ISBN10:

    0521063515

  • Edition: 1st
  • Format: Paperback
  • Copyright: 2008-05-29
  • Publisher: Cambridge University Press

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Supplemental Materials

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Summary

Exchange rate instability and crises are a fact of economic life in today's world of open international capital markets. Yet this was not always the case: for more than a third of a century prior to 1914, the gold standard reconciled open financial markets with stable exchange rates among the currencies of the major industrial countries. This book explores how that system worked. The result is an overview of the classical gold standard, a survey of the relevant applied research in international macroeconomics, and a demonstration of how the past can help to inform the present.

Table of Contents

Introduction
Modern perspectives on the gold standard
Introduction
Unit roots, shocks and VARs and their place in history: an introductory guide
Operation of the Gold Standard
The gold standard as a commitment mechanism
Market efficiency and regime efficiency under the 1925-1931 dollar/sterling gold standard
Credibility and fundamentals: were the Classical and interwar gold standards well-behaved target zones?
Adjustment Mechanisms
The stability of the gold standard and the evolution of the International Monetary Fund
International adjustment under the Classical gold standard: evidence for the United States and Britain, 1879-1914
Balance of payments adjustments under the gold standard policies: Canada and Australia compared
Monetary Issues
Money demand and supply under the gold standard: United Kingdom 1870-1914
Stability and forward-looking behaviour: the demand for broad money in the United Kingdom 1871-1913
Exchange Rate Behavior
The dollar/pound exchange rate and fiscal policy during the gold standard period
Exchange rate dynamics and monetary reforms: theory and evidence from Britain's return to gold
Conclusion: DFjß vu all over again: lessons from the gold standard for European monetary unification
Table of Contents provided by Publisher. All Rights Reserved.

Supplemental Materials

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

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