Rockoff, Hugh; Bordo, Michael D. - Department of Economics, Rutgers University-New Brunswick - 1996
In this paper we argue that adherence to the gold standard rule of convertibility of national currencies into a fixed … capital from the core countries of western Europe. We survey the historical background of gold standard adherence in the …-term government bond yields suggests that long-term commitment to the gold standard mattered even when bonds were denominated in gold …