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Retrospective on the Classical Gold Standard, 1821-1931

ISBN-10: 0226065901

ISBN-13: 9780226065908

Edition: 1984

Authors: Michael D. Bordo, Anna J. Schwartz

List price: $120.00
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Description:

This is a timely review of the gold standard covering the 110 years of its operation until 1931, when Britain abandoned it in the midst of the Depression. Current dissatisfaction with floating rates of exchange has spurred interest in a return to a commodity standard. The studies in this volume were designed to gain a better understanding of the historical gold standard, but they also throw light on the question of whether restoring it today could help cure inflation, high interest rates, and low productivity growth. The volume includes a review of the literature on the classical gold standard; studies the experience with gold in England, Germany, Italy, Sweden, and Canada; and perspectives on international linkages and the stability of price-level trends under the gold standard. The articles and commentaries reflect strong, conflicting views among hte participants on issues of central bank behavior, purchasing-power an interest-rate parity, independent monetary policies, economic growth, the "Atlantic economy," and trends in commodity prices and long-term interest rates. This is a thoughtful and provocative book.nbsp;
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Book details

List price: $120.00
Copyright year: 1984
Publisher: University of Chicago Press
Publication date: 9/1/1984
Binding: Hardcover
Pages: 689
Size: 6.50" wide x 9.50" long x 1.50" tall
Weight: 2.2
Language: English

Preface
Introduction
The Gold Standard as Interpreted in Traditional and Revisionist Works Chairman: Moses Abranovitz
The Gold Standard: The Traditional Approach
Comment
General Discussion
The Success of Purchasing-Power Parity: Historical Evidence and Its Implications for Macroeconomics
Comments
General Discussion
Technical Procedures: Rules of the Game Chairman
The Bank of England and the Rules of the Game under the International Gold Standard: New Evidence
Comment
Bank of England Operations, 1893-1913
Comment
General Discussion of Dutton and Pippenger Papers
The Gold Standard and the Bank of England in the Crisis of 1847
Comment
General Discussion
International Experience in the Operation of the Gold Standard Chairman
Canada and the Interwar Gold Standard, 1920-35: Monetary Policy without a Central Bank
Comment
General Discussion
Operations of the German Central Bank and the Rules of the Game, 1879-1913
Comment
General Discussion
Swedish Experience under the Classical Gold Standard, 1873-1914
Comment
Italy in the Gold Standard Period, 1861-1914
Comment
General Discussion of Jonung and Fratianni-Spinelli Papers
International Linkages under the Gold Standard Chairman
The Gold Standard and the Transmission of Business Cycles, 1833-1932
Comment
Real Output and the Gold Standard Years, 1830-1913
Comment
General Discussion of Huffman-Lothian and Easton Papers
Canada without a Central Bank: Operation of the Price-Specie-Flow Mechanism, 1872-1913
Comment
General Discussion
The Gold Standard as a Stabilizer of Commodity Prices Chairman
War, Prices, and Interest Rates: A Martial Solution to Gibson's Paradox
Comment
General Discussion
Some Evidence on the Real Price of Gold, Its Costs of Production, and Commodity Prices
Comment
General Discussion
The Image of the Gold Standard
Participants
Author Index
Subject Index