The Specie Standard As A Contingent Rule: Some Evidence for Core and Peripheral Countries, 1880-90.

Arbeitspapier

The classical gold standard era from 1880 to 1914, when most countries of the world defined their currencies in terms of a fixed weight (which is equivalent to a fixed price) of gold and hence adhered to a fixed exchange rate standard, has been regarded by many observers as a most admirable monetary regime. They find that its benefits include long-run price level stability and predictability, stable and low long-run interest rates, stable exchange rates (McKinnon, 1988), and hence that it facilitated a massive flow of capital from the advanced countries of Europe to the world's developing countries.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 1994-11

Classification and Topics

• Classification: Wirtschaft
• Subject: contingent ; gold standard ; rule

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Bordo, Michael D. ; Schwartz, Anna J.
• Event: Veröffentlichung
• (who): Rutgers University, Department of Economics
• (where): New Brunswick, NJ
• (when): 1994

Further information

• Handle: http://hdl.handle.net/10419/94338
• Last update: 10.03.2025, 11:42 AM CET